Market Leader - Industrial Packaging Market
The global industrial packaging market size is projected to grow from USD 58.8 billion in 2020 to USD 72.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast year. According to the European Industrial Packaging Association (EIPA), “Industrial Packaging is, first and foremost, designed and manufactured to offer protection to the products during each phase of production operations such as storage and transport of spare parts, semi-finished and finished products. It is manufactured for numerous industries, such as chemical, automotive and food industries. Industrial packaging is especially suited for heavy, bulky or large goods and hazardous materials.”
The industrial packaging market has thousands of companies which thrive in their domestic market. A few of the major players are, Greif Inc. (US), Amcor (Australia), Berry Global Inc. (US), Mondi (South Africa) and Sonoco (US). These players have adopted various growth strategies, such as acquisitions, expansions & investments, new product developments, and agreements to increase their market shares and enhance their product portfolios.
Expansions and investments accounted for the largest share of all the strategic developments that took place in the industrial packaging market between 2016 and 2020. Key players such as Greif Inc. (US), and Mauser Packaging Solutions (Germany) adopted these strategies to enhance their market presence and strengthen their manufacturing and distribution capabilities in the industrial packaging market.
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Greif Inc. (Grief) is a key manufacturer of industrial packaging products & services, and it offers a range of industrial packaging products such as plastic drums, steel drums, fibre drums, reconditioned containers, intermediate bulk containers, flexible products, uncoated recycled paperboard, containerboard, coated recycled paperboard, tubes and cores. The company through its strategic developments aims to strengthen its customer base and product offering globally.
Berry Global Inc. is one of the key manufacturers and suppliers of a range of rigid and flexible industrial packaging products. Berry Global focuses on expanding its customer base in various regions by offering attractive products for industrial packaging. The company emphasizes on delivering high-quality tailor-made solutions to its customers and on manufacturing products that are designed using the latest unique manufacturing technologies. The company adopts various strategic initiatives to expand and accelerate its market presence and strengthen its customer base across the world.
Related Reports:
Industrial Packaging Market by Product type, Material (Paperboard, Plastic, Wood, Metal), Application (Food & Beverage, Building & Construction, Pharmaceutical, Chemical, Automotive, Oil & Lubricant) and Region – Global Forecast To 2025
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