The rigid industrial packaging market is expected to increase from US$ 32,547.1 million in 2023 to US$ 50,862.1 million by 2033.
The Development of Recyclable and Sustainable Packaging Materials
Finding that are increasing applications in industrial packaging:
- The low environmental effect
- Expanding emphasis on recyclability and sustainability
- Government attention to efficient packaging management
- An increasing prohibition on plastic, sustainable, and biodegradable packaging solutions
- The availability of information and increased customer awareness
These factors may influence packaging makers to deliver environmentally feasible packaging across the supply chain. Although, failure to keep up with industry innovations may eventually restrict specific types of packaging.
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Regulatory Standards Underwent Dynamic Changes Because of Growing Environmental Concerns
Increased environmental concerns and dynamic changes in regulatory rules are expected to stymie global expansion. Package providers must handle material or significant supply changes due to regulatory concerns and revalidation tests. This technique has become exceedingly dynamic as a result of the constant alterations in regulatory rules.
Key Points from the Rigid Industrial Packaging Market
- The marketis predicted to expand at a 4.6% CAGR through 2033.
- The growth in resources and products being carried across diverse geographies is boosting the market.
- The marketis expected to surpass US$ 50,862.1 billion by 2033.
- Asia Pacific is likely to dominate the global rigid industrial packaging market by 2033.
Key Development in the Rigid Industrial Packaging Market
- Berry Global Group Inc. completed its acquisition of RPC Group Plc in July 2019. This acquisition expanded their service for value-added protective solutions. Moreover, it elevated them to the world’s leading plastic packaging firm.
- Amcor acquired Bemis Company in June 2019. This acquisition added capabilities and size to the organization, allowing it to strengthen its market position.
- In September 2020, Mauser Packaging Solutions purchased EuroVeneta Fusti via the NCG-Maider Joint Venture in Italy. This acquisition is planned to increase the company’s footprint in Italy. Additionally, expand its portfolio of current plastic industrial packaging, steel drum packaging, and IBC reconditioning services.
- Mauser Packaging Solutions launched a new 1-piece consumer pack in July 2020. The 1-Piece Consumer Pack is appropriate for use in-home care, candy and confection, pool maintenance, and culinary products. A connected, tamper-evident, hinged lid allows end-users simple and complete access to tub contents. Allowing them to swiftly retrieve items and close the top with a single click. Furthermore, the package is 100% recyclable after use and can be reused by the consumer.
- Greif, Inc. purchased a minority position in Centurion Container LLC in April 2020. To extend its intermediate bulk container (IBC) reconditioning network in North America. Centurion Container LLC’s investment is intended to benefit the company’s IBC and IBC reconditioning operations.
- In 2020, Berry Global’s Saeplast brand introduced a new type in its wet storage container line. It is suited for the handling of live shellfish such as oysters, clams, and mussels. The Saeplast DWS352 is a comprehensive system that allows the container to be utilized for water collecting, shipment to the factory, purging and purifying the contents, and subsequent storage. Bill and Stanley Oyster Co, a family-run oyster farm in Nova Scotia, Canada, has already embraced the new container.
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Rigid Industrial Packaging Market Key Segment
By Product Type:
- Drums
- Steel Drums
- Plastic Drums
- Composite Drums
- Rigid IBCs
- Pails
- Bulk Boxes
- Others
By Material Type:
- Plastic
- Metal
- Paper & Wood
- Fiber
By End Use:
- Chemicals & Solvent
- Oil & Lubricants
- Agriculture & Horticulture
- Automotive
- Building & Construction
- Food & Beverage
- Pharmaceuticals & Medical Devices
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
Key Segmentations-
By Product Type:
- Drums
- Steel Drums
- Plastic Drums
- Composite Drums
- Rigid IBCs
- Pails
- Bulk Boxes
- Others
By Material Type:
- Plastic
- Metal
- Paper & Wood
- Fiber
By End Use:
- Chemicals & Solvent
- Oil & Lubricants
- Agriculture & Horticulture
- Automotive
- Building & Construction
- Food & Beverage
- Pharmaceuticals & Medical Devices
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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