According to Future Market Insight’s research study currently leads the European logistics packaging market with a substantial 27% share, and this dominance is projected to persist with a robust Compound Annual Growth Rate (CAGR) throughout the forecast period. The region’s market success can be attributed to several key factors. Changes in packaging trends, advancements in both flexible and rigid packaging solutions, and a growing demand for logistics packaging across various industry sectors, notably in food and beverage, manufacturing, and consumer goods, are driving market growth.
In North America, a 23% share of the logistics packaging market is anticipated. This is a result of the increasing global export and import volumes, which are expanding on international, national, and regional scales. Furthermore, the flourishing transportation and supply chain management sectors are contributing to the rise of logistics packaging, improving time management and delivery networks across the world.
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The launch of new projects, industrialization, government initiatives aimed at industry expansion, and ongoing innovations across diverse sectors are collectively poised to fuel the healthy growth of the logistics packaging market throughout the region. These factors highlight the dynamism and potential for expansion within the logistics packaging industry.
The global logistics packaging market is poised for substantial expansion, with an estimated value of US$ 25,643.3 million in 2022, projected to surge to over US$ 40,205.9 million by 2032. This growth trajectory corresponds to a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period from 2022 to 2032. The burgeoning shipping and logistics sectors are set to play a pivotal role in boosting the global logistics packaging market share.
The evolving nature of the packaging industry, characterized by the integration of advanced packaging technologies and innovative products across various business sectors, is expected to fuel the sales of logistics packaging. This type of packaging holds significant importance within the supply chain management cycle by reducing transportation costs, ensuring secure transit, preventing damage to delicate items, and presenting appealing packages to entice consumers.
A notable catalyst for the market’s revenue expansion in the foreseeable future is the continual advancement of packaging technology. As the industry embraces novel techniques and solutions, the logistics packaging market is poised to meet the evolving demands of modern supply chains and foster sustained growth.
Drivers & Restraints:
The central point driving the development logistics packaging market are expanding product and import across the globe, expanding industrialization, headway in the packaging business, and venture commencements by the government across all industries for the development of the separate country.
Besides, the logistics packaging market is developing at a quicker pace because of the advantage of new advancements and improvements inside the business. With numerous economies recovering, agricultural nations arising as far as innovation and extension, modern areas creating at a quicker pace across the globe, and the web-based business market accomplishing development in the logistics packaging market are supposed to develop at critical CAGR before long.
Besides, rising interest in the synthetics market expanded improvement work and framework and furthermore rising utilization of logistics packaging items in the drug and shopper’s merchandise industry will stay a driving interest for logistics packaging market items in estimate years.
As logistics packaging assumes a crucial part in the stockpile request fasten because of the explanation that it safeguards merchandise from contamination during the time of capacity and transportation. On the opposite side, there are not many synthetic item fragments and ecological worries over logistics packaging as well as challenges faced because of transport are the significant impediment to the development of by and large logistics packaging market.
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Logistics Packaging Market: Key Players
Some of the key players identified in the logistics packaging market are:-
- Braid Logistics
- Trans Ocean Bulk Logistics
- BLT Flexitank Industrials Co. Ltd.
- BAG Corp.
- Jumbo Bag Corporation
- Boxon USA
- Others
Why Future Market Insights?
- Comprehensive analysis on evolving purchase pattern across different geographies
- Detailed insights of market segments and sub-segments for historical as well as forecast period
- A competitive analysis of prominent players and emerging players in the keyword market
- Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
Recent Developments in Logistics Packaging Market
- A renowned provider of contract logistics services with extensive knowledge in the packaging, food & beverage, and automotive industries, Buske Logistics was announced for acquisition by Fourshore Partners in March 2022.
- Cardinal Health and Ember Technologies unveiled a digital shipping box in March 2022 that they hope would save waste in the pharmaceutical supply chain while protecting temperature-sensitive biologics for 2 to 8°C for 48 to 72 hours.
- Supply chain transparency company Sourceful announced in March 2022 that it would raise USD 20 million in a Series A round of funding.
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Key Segments
By Packaging Durability Type:
- Flexible Logistics Packaging
- Rigid Logistics Packaging
By Material Durability:
- Non-durable Goods
- Durable Goods
By Material Type:
- Steel
- Plastic
- Corrugated
- Wood
- Plywood
- Others
By End Use:
- Consumer Goods
- Manufacturing
- Food & Beverages
- Healthcare
- Automotive
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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