Industrial Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Industrial Packaging Market Report is Segmented by Product (Intermediate Bulk Containers (IBCs), Sacks, Drums, Pails, and Other Products), End-User Industries (Automotive, Food and Beverage, Chemicals and Pharmaceuticals, Oil, Gas, and Petrochemical, Building and Construction, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Industrial Packaging Market Size

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Industrial Packaging Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 66.27 Billion
Market Size (2029) USD 93.45 Billion
CAGR (2024 - 2029) 7.12 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Industrial Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Industrial Packaging Market Analysis

The Industrial Packaging Market size is estimated at USD 66.27 billion in 2024, and is expected to reach USD 93.45 billion by 2029, growing at a CAGR of 7.12% during the forecast period (2024-2029).

  • Industrial packaging is the umbrella term used to describe heavy-duty, specialized, and customized packaging solutions to provide added value protection for the customer's products to get from point A to point B or sit in storage. This type of packaging is usually used on hazardous or sensitive products or components sensitive to each other.
  • The increasing volume of resources and products being transported across various regions is one of the primary factors that led to the growth of bulk industrial packaging. The industrial packaging market highly depends on global import and export activities. While products such as drums and pails experience huge demand from heavy manufacturing industries, other products, such as material handling containers and intermediate bulk containers (IBCs), include applications in logistics and the short-distance transportation of goods.
  • Rigid plastic IBCs are used in various industries, such as food and beverage, pharmaceuticals, chemicals, and paints, inks, and lubricants. The Rigid Intermediate Bulk Container Association (RIBCA) of North America fosters the interests of people, firms, and corporations engaged in manufacturing or assembling rigid intermediate bulk containers.
  • Industrial packaging has received scant attention over the past few decades compared to consumer packaging. Governments and organizations worldwide have recently realized the importance of safe and sustainable industrial packaging. The market also observed an increased focus on downgauging/material reduction. An instance of this is the introduction of multi-walled paper sacks. This helped reduce the weight of traditional sacks without sacrificing strength and performance.
  • Companies are launching innovative products in line with the changing demand for sustainable and recyclable industrial packaging. In May 2023, FlexSack launched FlexSack-eco, large-sized bulk sacks with 30% post-consumer resin (PCR) content. According to the firm, this kind of innovation is the first of its kind in North America.
  • Factors like the greater need to cut down on logistics costs and bills of materials and enhance overall efficiency across supply chains are expected to drive investments and innovation among industrial packaging manufacturers during the forecast period. These factors are buoyed by companies and governments focusing on claiming necessary measures to reduce packaging wastage. These trends are anticipated to drive the industrial packaging market during the forecast period.

Industrial Packaging Market Trends

Food and Beverages Expected to Drive the Market

  • The most used industrial packaging for food and beverage industries are drums, IBCs, corrugated boxes, pallets, and sacks. However, the packaging needs to be certified as food-grade. For instance, IBC totes (designed with stainless steel tanks or poly-caged totes) are certified by the DOT/UN and guarantee that the packaging does not contaminate the food products.
  • Drums are widely used in the alcohol industry. Beer is the most transported alcohol globally. Drums are made of steel, plastics, or fiber. However, steel drums are regarded as the safest by the US Department of Transportation. It is expected to drive further storage and transport of beverages in steel drums.
  • Woven sacks are highly used in packaging dry food grains and other products. They are mainly designed to showcase high-impact resistance and hold food items of the capacity of 5 kg to 75 kg. Therefore, with changing lifestyles and consumer demands, the demand for industrial packaging in the market studied is expected to grow during the forecast period.
  • The rising wine trade across the world is expected to boost the growth of the intermediate bulk container industry in the future. The increasing consumption of wine, especially during celebrations in many countries, increases the demand for wine and its trade. Intermediate bulk containers are one of the cost-effective solutions and can be utilized safely in bulk transporting wines.
  • According to the European Commission, the European Union had 159 million hectoliters of wine production in 2023, a significant rebound from 144 million hectoliters in 2020. This growth trend is expected to be witnessed in the forecast period, consequently bolstering the demand for bulk containers.
  • The progressive inclination of consumers toward health-oriented beverages has improved the demand for food-grade industrial drums. In addition, the companies promoting tag lines, such as "ready-to-drink," "on-the-go," and other convenience factors, may further augment the demand for probiotic drinks, including kombucha. Consumers have started to prefer functional drinks over fruit juices and carbonated beverages.
Industrial Packaging Market : Wine production, In Million Hectoliters, Europe, 2020-2023

Asia-Pacific Expected to Hold a Significant Market Share

  • The rapidly evolving industrial and manufacturing sector in the Asia-Pacific is expected to increase the usage of industrial drums as manufacturers are expanding their manufacturing bases to emerging economies like China, India, and Indonesia. China has shown optimistic growth in the production of fiber drums. In terms of value, it has a strong hold over other countries such as Malaysia and Singapore.
  • China is one of the largest economies in the world and is one of the largest trading countries in terms of the sum of its exports and imports. Also known as the world’s factory, the country’s export trade for manufactured goods is rebounding after a sudden stagnation for a brief period. With the continued growth in the export trade, the market is expected to witness robust demand for bulk and sturdy industrial packaging products.
  • Over the last few decades, the industrial sector in China, one of the major market shareholders in Asia-Pacific, witnessed astonishing growth. The sector's growth placed the country among the leading manufacturers and exporters of various goods. According to the National Bureau of Statistics of China, in 2023, the industrial sector contributed 31.7% of the country's GDP.
  • Considering the growing demand, several vendors operating in the market are focusing on offering a broad portfolio of industrial packaging products. For instance, Plastene, an Indian company, offers various transport and storage containers (jumbo bags/FIBCs) for both dry and liquid (bulk) goods. Jumbo bags increasingly substitute plastic, paper, and cardboard packaging solutions for industrial customers.
  • The chemical packaging market focuses on producing and distributing packaging solutions specifically designed for storing and transporting large volumes of chemicals. These packaging solutions are developed to meet the highest safety and regulatory requirements, guaranteeing the chemical's integrity and stability throughout its life cycle. According to the Reserve Bank of India, the value of chemicals exported from India has almost tripled since 2017, rising upto INR 2435.36 billion (USD 29.11 billion) in 2023. With such growth, the market is expected to witness a surge in demand for intermediate bulk containers, chemical drums, and barrels, which is expected to drive the growth of chemical packaging. These containers are considered optimized cost-saving solutions for the chemical industry, facilitating market-specific requirements. ​​
Industrial Packaging Market - Value of Chemicals Exported, In INR Billion, India, 2017-2023

Industrial Packaging Industry Overview

The industrial packaging market is highly fragmented, with numerous international, regional, and local vendors. Local manufacturers of industrial packaging products cater to unique, innovative solutions at a lower price than international vendors, resulting in an intense price battle.

  • In January 2024, Greif Inc., one of the global leaders in industrial packaging products and services, and IonKraft, a barrier technology company specializing in plasma-based coatings, announced a new pilot-project partnership. The collaboration focuses on revolutionizing the challenges of recyclability and sustainability in plastic jerrycan packaging that requires an additional barrier solution.
  • In July 2023, Mondi, a leader in the packaging and paper industry, announced an investment of EUR 16 million in new technology to produce a new packaging range called Functional Barrier Paper Ultimate. The solution aims to meet the growing customer demand for sustainable packaging that contributes to a circular economy.

Industrial Packaging Market Leaders

  1. WERIT Kunststoffwerke W. Schneider GmbH & Co.

  2. Mondi Plc

  3. Greif Inc.

  4. Mauser Packaging Solutions

  5. Global-Pak Inc.

*Disclaimer: Major Players sorted in no particular order

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Industrial Packaging Market News

  • March 2024: Greif Inc. collaborated with CDF Corporation to launch an innovative redesign of its GCUBE intermediate bulk container (IBC) Flex. It is specially designed to transport highly sensitive and fluid products in a sterile environment. The launch aligns with the firm's overall innovation and investment approach, where sustainable solutions improve customer experience and protect product quality and safety.
  • April 2023: Mauser Packaging Solutions unveiled the news of the expansion of its product range in Singapore through its recent investment in modern equipment for producing plastic drums. The investment also enhances the region’s access to the Infinity Series, which is part of a larger product range the company offers.

Industrial Packaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Impact of Geopolitical Scenarios on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Emergence of Sustainable and Recyclable Packaging Materials

      2. 5.1.2 Increasing Utilization of the Shipping Containers

    2. 5.2 Market Restraints

      1. 5.2.1 Dynamic Changes in Regulatory Standards Due to Increasing Environmental Concerns

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Product

      1. 6.1.1 Intermediate Bulk Containers (IBCs)

      2. 6.1.2 Sacks

      3. 6.1.3 Drums

      4. 6.1.4 Pails

      5. 6.1.5 Other Products

    2. 6.2 By End-user Industry

      1. 6.2.1 Automotive

      2. 6.2.2 Food and Beverage

      3. 6.2.3 Chemicals and Pharmaceuticals

      4. 6.2.4 Oil and Gas and Petrochemicals

      5. 6.2.5 Building and Construction

      6. 6.2.6 Other End-user Industries

    3. 6.3 By Geography***

      1. 6.3.1 North America

        1. 6.3.1.1 United States

        2. 6.3.1.2 Canada

      2. 6.3.2 Europe

        1. 6.3.2.1 Germany

        2. 6.3.2.2 United Kingdom

        3. 6.3.2.3 France

        4. 6.3.2.4 Russia

      3. 6.3.3 Asia-Pacific

        1. 6.3.3.1 China

        2. 6.3.3.2 Japan

        3. 6.3.3.3 India

        4. 6.3.3.4 Australia and New Zealand

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 WERIT Kunststoffwerke W. Schneider GmbH & Co.

      2. 7.1.2 Mondi PLC

      3. 7.1.3 Greif Inc.

      4. 7.1.4 Mauser Packaging Solutions

      5. 7.1.5 Global-Pak Inc.

      6. 7.1.6 Berry Global Inc.

      7. 7.1.7 Smurfit Kappa Group PLC

      8. 7.1.8 Tank Holding Corp.

      9. 7.1.9 International Paper Company

      10. 7.1.10 Veritiv Corporation

      11. 7.1.11 Nefab Group

      12. 7.1.12 Schutz GmbH & Co. KGaA

      13. 7.1.13 DS Smith PLC

      14. 7.1.14 Amcor PLC

      15. 7.1.15 Packaging Corporation of America

      16. 7.1.16 Pact Group Holdings Ltd

      17. 7.1.17 Visy

      18. 7.1.18 Brambles Ltd (CHEP)

      19. 7.1.19 Snyder Industries LLC

      20. 7.1.20 Myers Containers

  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific' and 'Rest of Europe' will be studied as a separate segment.
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Industrial Packaging Industry Segmentation

Industrial packaging protects, ships, and stores a wide range of goods. Typically, industrial packaging is done at the production site right after production, although it can be used at any point in the supply chain. This type of packaging is usually done for sensitive products that heavily rely on stability or are hazardous or bulky or for products with components that are sensitive to each other.

The industrial packaging market is segmented by product (intermediate bulk containers (IBCS), sacks, drums, pails, and other products), end-user industries (automotive, food and beverage, chemicals and pharmaceuticals, oil, gas, and petrochemical, building and construction, and other end-user industries), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Product
Intermediate Bulk Containers (IBCs)
Sacks
Drums
Pails
Other Products
By End-user Industry
Automotive
Food and Beverage
Chemicals and Pharmaceuticals
Oil and Gas and Petrochemicals
Building and Construction
Other End-user Industries
By Geography***
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Asia-Pacific
China
Japan
India
Australia and New Zealand
Latin America
Middle East and Africa
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Industrial Packaging Market Research FAQs

The Industrial Packaging Market size is expected to reach USD 66.27 billion in 2024 and grow at a CAGR of 7.12% to reach USD 93.45 billion by 2029.

In 2024, the Industrial Packaging Market size is expected to reach USD 66.27 billion.

WERIT Kunststoffwerke W. Schneider GmbH & Co., Mondi Plc, Greif Inc., Mauser Packaging Solutions and Global-Pak Inc. are the major companies operating in the Industrial Packaging Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Industrial Packaging Market.

In 2023, the Industrial Packaging Market size was estimated at USD 61.55 billion. The report covers the Industrial Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Packaging Industry Report

Statistics for the 2024 Industrial Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Packaging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Industrial Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)