Transit packaging market driven by growing commerce and rapid addition of new product segments to be transported,transit packaging market lies in developing durable and cost efficient packaging solution for diverse range of applications,Asia pacific dominates Transit packaging market
Albany, NY -- (SBWIRE) -- 12/01/2016 -- A research study by Transparency Market Research (TMR), titled "Transit Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024," offers a thorough overview of the market. The research study presents insights into the key growth prospects of the global market. The key drivers, limitations, lucrative opportunities, and latest trends in the global transit packaging market have been discussed in the research report. Additionally, the research study has covered the competitive scenario of the global market.
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A booming e-commerce sector and expanding product portfolios are some of the key factors augmenting the global transit packaging market. The food and beverage industry is considered as one of the prominent contributors to the market. Furthermore, the rising disposable income among consumers, changing lifestyle, and the swift pace of urbanization are some of the key factors projected to encourage the development of the global transit packaging market in the forecast period.
The global transit packaging market has been classified on the basis of product type, application, and end use. By product type, the market has been divided into by protective and case packaging. The segment for protective packaging has been sub-segmented into pads, foams, inserts fitments, and others. By application, the global market for transit packaging has been bifurcated into commercial packaging, industrial packaging, retail packaging, consumer packaging, and others. Furthermore, by end use, the market has been segmented into industrial equipment, food and beverages, furniture, electrical and electronics, and consumer goods. The anticipated growth rate, size, and share of the each segment studied in the scope of the research report have been presented.
From a geographical viewpoint, Asia Pacific is expected to lead the global transit packaging market with a substantial contribution from Japan and China. Additionally, the rising commercial and industrial manufacturing practices are projected to fuel the growth of the market in Asia Pacific. Furthermore, North America and Europe are expected to witness progressive growth in the global transit packaging market throughout the forecast period.
The leading players operating in the global transit packaging market include Svenska Cellulosa Aktiebolaget SCA, ZOTEFOAMS INC., Greif, Inc., BillerudKorsnas AB, Packaging Corporation of America, Mondi, Smurfit Kappa Group, Sonoco Products Company, and Pratt Industries, Inc. These players are focusing on introducing innovative solutions at a lower price in order to gain a large number of consumers. In addition, with a substantial rise in consumption in the fertilizer, chemical, pharmaceutical, and food industries, the market is projected to witness swift growth in the next few years.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.