The global MENA industrial packaging market is anticipated to reach a valuation of US$ 4.8 billion in 2023, driven by rapid industrialization and globalization. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.0% between 2023 and 2033 and reaching a total valuation of approximately US$ 9.4 billion by 2033.
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One of the major factors contributing to the growth of the MENA industrial packaging market is the increasing export-oriented economies. Several countries in the MENA region, such as the United Arab Emirates, Saudi Arabia, and Qatar, have adopted policies to diversify their economies and promote non-oil sectors, including manufacturing and exports. The efforts have resulted in the emergence of export-oriented industries that require robust and standardized packaging solutions to ensure product safety during transportation. The shift towards export-oriented economies is expected to fuel the demand for industrial packaging.
The growing retail and eCommerce sectors are also propelling the market growth. The retail and e-commerce sectors in the MENA region have witnessed significant growth, driven by factors such as rising disposable incomes, urbanization, and increasing internet penetration. The demand for efficient packaging solutions has escalated with the surge in retail and e-commerce activities. Industrial packaging plays a crucial role in ensuring product safe and secure delivery to consumers, contributing to the market’s growth.
Industries in the MENA region have increasingly recognized the importance of product safety and quality. Implementing stringent regulations and standards has created a demand for packaging solutions that comply with these requirements. Industrial packaging providers continuously develop innovative packaging materials and designs that offer enhanced protection and ensure product integrity. The focus on product safety and quality acts as a catalyst for market growth.
Key Takeaways from the Market Study
- Global MENA industrial packaging market was valued at US$ 4.5 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.2%.
- Saudi Arabia is expected to hold a dominant CAGR of 6.9% during the forecast period.
- By product, the IBC segment is expected to constitute a CAGR of 6.9% in 2033.
- On the basis of end-use industry, chemical & pharma segment is expected to dominate the market with a CAGR of 6.8% in 2033.
- From 2023 to 2033, MENA industrial packaging market is expected to flourish at a CAGR of 7.0%.
- By 2033, the market value of MENA industrial packaging is expected to reach US$ 9.4 billion.
Sustainability and eco-friendly packaging, across the globe is a major factor that is expected to propel the growth of the MENA industrial packaging market in the near future, remark by Ismail Sutaria (Lead Consultant, Packaging and Materials).
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.
Recent Developments:
- In 2020, International Paper, a leading packaging and paper company, announced the acquisition of two corrugated packaging businesses in Egypt and Morocco. The acquisitions expand the company’s presence in the MENA region and strengthen its capabilities in providing sustainable packaging solutions.
- In the same year, Al Ghurair Packaging, a UAE-based packaging company, introduced new sustainable packaging solutions made from recycled materials. The company’s focus on eco-friendly packaging aligns with the growing demand for sustainable packaging options in the MENA region.
- In 2021, RAK Petropack, a UAE-based packaging company, announced the installation of a new state-of-the-art flexographic printing machine. The advanced printing technology enables the company to offer high-quality and customized packaging solutions to its customers.
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Key Segmentations:
By Product:
- Plastic Pallets
- Drums
- IBCs (Totes)
- Sacks
- Pails
- Crates
- Tubes
- Bulk Boxes
- Other
By Material:
- Metal
- Plastic
- Paper & Paperboard
- Fiber & Wood
By Packaging:
- Rigid
- Flexible
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
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.
Have a Look at Related Reports of the Packaging Domain:
Rigid Industrial Packaging Market Size: 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 market is likely to capture a 4.6% CAGR from 2023 to 2033.
Industrial Chemical Packaging Market Demand: By 2033, the sector is expected to consistently expand at a 4.0% CAGR. According to FMI, the revenue share of the industrial chemical packaging market is predicted to rise from US$ 133.58 billion in 2023 to US$ 197.52 billion in 2033.
Industrial Electronics Packaging Market Growth: The global industrial electronics packaging market is estimated to attain US$ 1,944.9 million in 2023. The market is projected to witness expansion at a CAGR of 4.1% through 2033, eventually leading up to US$ 2,906.73 million by 2033.
Originally Published By: https://www.chronicles24.com/index.php/2023/09/29/mena-industrial-packaging-market-soaring-towards-us-9-4-billion-by-2033-with-a-remarkable-cagr-of-7-0-future-market-insights-inc/
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