As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global XXL Packaging market is expected to grow at a healthy CAGR during the forecast period (2017-2027). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales XXL Packaging Market in the coming 10 years.
The report conducts an in-depth analysis into factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for XXL Packaging
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for XXL Packaging market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key XXL Packaging Market Takeaways and Projections
- The U.S. is expected to lead the North America XXL Packaging market, projecting the fastest growth in the region between 2017 and 2027
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2027.
Report Benefits & Key Questions Answered
- XXL Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the XXL Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the XXL Packaging market for the forecast period 2017-2027.
- XXL Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for XXL Packaging for the assessment period. As per the study, the demand for XXL Packaging will grow at a robust CAGR between 2017 and 2027.
- XXL Packaging Market Trend Analysis: The latest study by FMI on the XXL Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of XXL Packaging market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
Global XXL Packaging Market: Overview
XXL packaging format comprises of large boxes, which can be manufactured only in dedicated plants. XXL packaging is mostly preferred when the products in consideration have an unusually large shape, and do not lie in the spectrum of daily packaged goods. In addition to serving the aforementioned purpose, XXL packaging is also found to be useful when the idea is to achieve high transit and storage efficiency by larger pack sizes.
XXL packaging is usually manufactured from single and double wall corrugated grades. Furthermore, XXL packaging is customizable, and is available in a wide range of standard and custom sizes. One of the key attributes for high preference of XXL packaging for bulk products is convenience. XXL packaging allow gluing, taping, and stitching, or a combination of these to deliver required performance.
The global XXL packaging market is expected to witness healthy growth over the forecast period due to their customizability and ease of use. Growing penetration of modern trade is expected to further bolster the global XXL packaging market, ensuring a positive outlook, during the forecast period.
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Global XXL Packaging Market: Dynamics
The global transport and logistics industry has undergone significant transformation over the past couple of decades in terms of variety of goods shipped across lands. High penetration of modern trade in countries, coupled with increasing use of online shopping format has pushed the limits of trade beyond expectations.
The global XXL packaging market is expected to grow on the backdrop of logistics sector growth, which is expected to have a largely positive outlook, over the forecast period.
In addition to providing custom XXL packaging dimensions, manufacturers of XXL packaging solutions are focusing on additional features such as special liners, and barrier coatings to improve efficiency. Also, due to the large surface area of XXL packaging solutions, it provides an opportunity for the brand or manufacturer to use the surface as a brand awareness enhancement medium.
The surface of XXL packaging is printable and can include barrier coatings such as scuff resistant and water resistant coatings. XXL packaging is therefore expected to be highly preferred as a proven means of reducing risk of transit and storage damage. Furthermore, XXL packaging is 100% recyclable and hence, ranks at the top in the list of sustainable packaging solutions for large products.
Despite the positive outlook, there are certain factors that might affect growth of the global XXL packaging market, such as, rise in preference for alternative large product packaging solutions such as Octabins.
Global XXL Packaging Market: Regional Overview
The global XXL packaging market has been divided into seven region as follows –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APeJ)
- Middle East & Africa (MEA)
- Japan
Being a mature market with a large volume of goods and logistics in bulk, North America leads the charge in the global XXL packaging market, followed by the Asia Pacific region. The volume of the Asia Pacific XXL packaging market is expected to increase significantly over the forecast period. Economic boom in the Asia Pacific region is expected to transform the logistics sector.
The rapid development of economies such as China and India show very little sign of any slow-down. This, combined with increasing integration between these countries in terms of free trade has enabled manufacturers to be offered better prospects and investment returns and has resulted in increased focus of investors in the Asia Pacific region, especially BRICS countries. Increased volume of trade is expected to directly impact the global XXL packaging market.
Latin America is also expected to register decent growth in XXL packaging volume during the forecast period. Eastern and Western Europe currently have a strong market share owing to high trade volume, which is expected to remain rather dormant as the focus shifts toward emerging economies.
Global XXL Packaging Market: Key Players
Few of the key players operating in the global XXL packaging market are – The Smurfit Kappa Group, DS Smith Plc, Canpak Packaging, and ROBA Group, among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global XXL Packaging Market: Segmentation
On the basis of end use industry, the global XXL packaging market is segmented as –
- Food & Beverages industry
- Consumer Electronics industry
- Automotive industry
- Tobacco industry
- Other industrial goods
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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