Market Research Future published a research report on “Global Industrial packaging Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Pune, India -- (SBWIRE) -- 01/10/2018 -- Global Industrial Packaging Market Information by Packaging Type (Flexible & Rigid), by Materials (Metal, Plastic, Paper and Wooden), by Products (Bags, Boxes, Sacks, Barrels, Tanks and Others), by End-User (Food & Beverages, Construction, Chemicals & Pharmaceuticals, Electronics and Others) and by Region - Forecast to 2022
Packaging industry witnessed technology adoption, at large, in terms of equipment, and packaging methods, and the demand for primary packaging is stagnant. MRFR analysts conclude that display packaging market will grow at a CAGR of 7.02% during the forecast period. The global display packaging market continues to grow due to the exciting trends such as the surge of personalized packaging, increasing awareness to sustainability issues, demographic and economic drivers. Prestigious luxury brands look for new packaging techniques and innovations to make their products stand out in extremely competitive shelf spaces. The packaging sales in the emerging markets are expected to continue to show strong growth, as both increased consumer consumption and demand for luxury goods, drive the need for sophisticated packaging. Display Packaging is mostly used to package highly expensive and sophisticated products. Packaging impacts the brand image of a company to a great extent. Display packaging also improves brand recall, to increase the revenue generated by the manufacturers and retailers. Display packaging market is expected to reach a CAGR of ~7.02% during the forecast period.
Packaging plays a significant role in the buying decision process as well as it adds high value. Besides making the products incredibly appealing, display packaging prevents contamination of products and protects premium items from damages. It reduces package pilferage and increases consumer engagement. The global display packaging market can be segmented on the basis of regions as Asia Pacific, Europe, North America, and the Middle East and Africa (MEA). Asia Pacific is expected to witness fast growth during the forecast period on account of growing consumer spending in Japan and China. In Middle East and Africa, moderate growth can be expected due to expansion in the area, by global luxury product manufacturers.
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The growth of the global green packaging market is expected to be driven by the growing population, improved standard of living, and the preference of display packaging materials. A major opportunity for the global display packaging market lies in reducing the operational cost of recycling, and in collecting the packaging. Another major opportunity for the global display packaging market is the increase in product categories for different application segments, especially the consumer packaging segment.
With the growing fondness of people toward premium lifestyle trends, owning products of luxury brands have become an essential part in day to day routine. The luxury brands are slowly taking the advantage of this changing lifestyle and are formulating innovations into their offerings to lure more customers and enhance their experience to a superlative level. Product quality is an age-old attribute that luxury brands have explored and have sworn by the idea of premium quality. Therefore, most of the companies in the industry are looking at other factors such as improved product packaging and enhanced customer experience. A recent trend being the manufacturers' focus on the use of sustainable, bio-degradable or eco-friendly packaging, the market growth is fuelled by the growing penetration of travel retail and online retail. The travel retail market is expanding at a high pace and is emerging as an opportunity for the global luxury packaging market. It is utilized by many industries, such as food and beverage (F&B), healthcare, household products, cosmetics, and FMCG products. The vendors in the global display packaging market are increasingly offering novel luxury packaging products, which are aesthetically appealing and prevent contamination of products.
Industrial Packaging Market - Segments:
Global Industrial Packaging Market is segmented in to five Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Packaging Type: Flexible & Rigid
Segmentation by Materials: Metal, Plastic, Paper and Wooden
Segmentation by Products: Bags, Boxes, Sacks, Barrels, Tanks and Others
Segmentation by End-User: Food & Beverages, Construction, Chemicals & Pharmaceuticals, Electronics and Others
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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Regional Analysis of Global Industrial packaging Market
Asia-Pacific region dominates the industrial packaging market. The key factors driving the growth in the APAC region are emerging economies, growing awareness of industrial packaging and increasing urbanization and industrialization. This region is expected to grow at a good pace during the forecasted period.
The key players of Global Industrial Packaging Market report include- International Paper Company, Grief Inc., Nefab Group, Mondi Group, Amcor Ltd, Bemis Company Inc., Orora Group, Mauser Group, Sigma Plastics Group and Wuxi Sifang Drums Limited Company.
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