Introduction
In the bustling economies of the Middle East and North Africa (MENA) region, the industrial packaging market plays a vital role in ensuring seamless operations across various industries. With a focus on efficiency, safety, and sustainability, MENA’s industrial packaging sector has witnessed significant growth over the years. This article dives into the ins and outs of the MENA Industrial Packaging Market, uncovering its key components, trends, challenges, and future prospects. Join us as we explore how this market is revolutionizing the way industries operate and making strides towards a greener and more efficient future.
What is the MENA Industrial Packaging Market?
The MENA Industrial Packaging Market refers to the production and distribution of packaging solutions specifically tailored to meet the needs of various industrial sectors. These packaging solutions are designed to protect goods during transportation, storage, and handling, ensuring their integrity and quality.
The MENA industrial packaging market is on an impressive trajectory, set to reach a substantial valuation of US$ 4.8 billion by 2023. With the relentless progress in packaging automation, this sector is expected to flourish even further, showcasing a compelling CAGR of 7.0% from 2023 to 2033, ultimately reaching a staggering worth of approximately US$ 9.4 billion by 2033.
Download Sample Report to learn about recent in the MENA Industrial Packaging industry observed by FMI. https://www.futuremarketinsights.com/reports/sample/rep-gb-3880
Factors Driving the MENA Industrial Packaging Market
This section delves into the key drivers that have propelled the growth of the MENA Industrial Packaging Market.
1. Growing Industrialization in MENA
With the rapid industrialization and economic development in the MENA region, there has been a surge in demand for industrial packaging solutions. Industries such as manufacturing, automotive, chemicals, and construction have witnessed substantial growth, boosting the need for efficient and secure packaging.
2. Increasing Awareness of Sustainable Packaging
In recent years, there has been a significant shift towards sustainability and environmental consciousness. Consumers and businesses alike are increasingly demanding eco-friendly packaging solutions, driving manufacturers to adopt sustainable practices and materials.
3. Favorable Government Policies and Incentives
MENA governments have been actively promoting industrial growth through favorable policies and incentives. These initiatives have encouraged investment in the industrial packaging sector, spurring innovation and expansion.
4. Rising International Trade
MENA countries have experienced a rise in international trade activities, necessitating reliable and robust packaging solutions to ensure the safe transit of goods across borders.
Key Takeaways from MENA Industrial Packaging Market
- Flexible packaging does set the major packaging trends by bolstering design flexibility, safety, sustainability, and convenience. On these grounds, Regenerative Gasification comes across as one of the science-based solutions to intractable recycling issues that are faced by modern multi-material, multi-layered packaging and products.
- The UAE is likely to host COP28 meeting in the year 2023. It has also released Circular Economy Policy promising to help in adoption of environmentally-friendly manufacturing practices. Above all, Saudi Arabia has also pledged achievement of net-zero emissions by the year 2060.
- As per the Saudi Arabian General Authority for Investment (SAGIA), spending on the foodservices is expected to grow by 5-6% per year over the subsequent 5 years. Chemical, pharma, and oil & lubricant verticals are bound to keep the hopes high for MENA industrial packaging market in the forecast period.
Get Expert Insights Now! Contact our Analyst for In-depth Market Analysis and Strategic Recommendations @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-3880
Competitive Ebullience
- Eviosys, in September 2021, launched a new-fangled company for delivering sustainable, smart packaging solutions. The newly formed company, better known as ‘KPS Capital Partners’, has acquired Crown Holding Inc’s EMEA food and consumer packaging business.
- PalletPlast, in March 2021, has been adjudged as ‘The Best end use Product’ by Petco – PET plastic recycling Group South Africa. This company has come up with fruit pallets produced from waste plastic products.
- Comexi, in March 2022, inked an agreement with Madayn Plastic Company with the objective of expanding in the Middle East. The company has actually opted for entry to the flexible packaging vertical for capturing a remarkable portion of its market share with Comexi and Reifenhauser India Marketing Middle East & Africa (RIMPL MEA). Comexi F2 ML flexographic press, Reifenhauser extruder, and Comexi ML2 Evolution laminator have been acquired by Madayn Plastic.
- Huhtamaki, in September 2021, completed the acquisition of Elif to promote sustainability and talent all across the Middle East, Europe, and Africa.
“Flexible packaging business does set up trends pertaining to packaging by catalyzing design flexibility, safety, sustainability, and convenience”, says an analyst from Future Market Insights.
Competitive Analysis
- Eviosys, in September 2021, did launch a novel company for delivering sustainable, smart packaging solutions. This new company is known by the name ‘KPS Capital Partners’; which did acquire Crown Holdings Inc. of late.
- PalletPlast, in March 2021, was adjudged as the best end-use product by ‘Petco (PET Plastic Recycling Group, South Africa)’. The company has actually tabled fruit pallets produced from waste plastic. With growing demand for recycled plastic, MENA industrial packaging market is bound to reach its zenith on these grounds.
- Greif, Inc., in June 2022, did launch a novel lightweight jerry can.
- Kerry Group, in January 2022, did announce expansion in Middle East with opening of new-fangled facility at Jeddah (Saudi Arabia). The plant consists of 21.5K square feet.
- Cargill Foods, in April 2022, did announce that it was widening its reach to META (Middle East, Turkey and Africa). Cargill Turkey has put on US$ 5 Million for enhancing INFUSE by Cargill service by having opened a technological application center in Bursa, Orhangazi, Turkey.
The Key Players Are:
- Nampack
- Takween Advanced Industries
- Greif, Inc.
- PETRO Industrial Pty Ltd.
- Time Technoplast Ltd.
- Mauser Group B.V.
- Gulf Plastic Industries Company SAOG
- Clouds Drums L.L.C.
What does the Report pack?
- The research study is based on product (plastic pallets, drums, IBCs (totes), sacks, pails, crates, tubes, bulk boxes, and likewise), by material (metal industrial packaging, plastic industrial packaging, paper & paperboard industrial packaging, and fiber & wood industrial packaging), by packaging (rigid industrial packaging and flexible industrial packaging), and by end-use industry (automotive, agriculture, building & construction, chemical & pharma, engineering, food & beverages, metal products, oil & lubricants, plastic & rubber, furniture, electronics, e-Commerce, tobacco, and likewise).
- IBC sand drums are expected to be the flag bearers of MENA Industrial Packaging Market in the forecast period.
MENA Industrial Packaging Market By Category
By Product:
- Plastic Pallets
- Drums
- IBCs (Totes)
- Sacks
- Pails
- Crates
- Tubes
- Bulk Boxes
- Other
By Material:
- Metal Industrial Packaging
- Plastic Industrial Packaging
- Paper & Paperboard Industrial Packaging
- Fiber & Wood Industrial Packaging
By Packaging:
- Rigid Industrial Packaging
- Flexible Industrial Packaging
By End-Use Industry:
- Agriculture
- Automotive
- Building & Construction
- Chemical & Pharma
- Engineering
- Food & Beverages
- Metal Products
- Oil & Lubricants
- Plastic & Rubber
- Furniture
- Electronics
- E-Commerce
- Tobacco
- Other
Get Ahead with Detailed Market Intelligence: Purchase Now to Access Segment-specific Information, Uncover Key Trends, Drivers, and Challenges! https://www.futuremarketinsights.com/checkout/3880
Find Out other related Interesting Articles Here:
Unlock the Power of Sustainability: Transforming Waste into Gold with Paper Recycling
Revolutionizing Packaging: Embrace Eco-Friendly Polycoated Cup Stock!
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713,
United States
For Sales Enquiries: sales@futuremarketinsights.com
Browse all Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs
