Global Industrial Packaging market is projected to grow at a CAGR of 9.0% by 2033: Visiongain Reports Ltd

Visiongain has published a new report entitledIndustrial Packaging2023-2033. It includes profiles of Industrial Packaging and Forecasts Market Segment by Product, (Drums, IBCs, Sacks, Other Products) Market Segment by Application, (Food & Beverage, Automotive, Pharmaceutical, Chemical, Other Application) Market Segment by Material, (Cardboard, Flexible Materials, Rigid Plastic, Metal, Glass, Other Packaging Materials) plus COVID-19 Impact Analysis and Recovery Pattern Analysis ("V"-shaped, "W"-shaped, "U"-shaped, "L"-shaped), Profiles of Leading Companies, Region and Country.

The global industrial packaging market was valued at US$8,087 million in 2022 and is projected to grow at a CAGR of 9.0% during the forecast period 2023-2033.

The Worldwide Industrial Packaging Market Will Be Driven by Increased International Trade

The worldwide industrial packaging market will be driven by increased international trade needs for product safety and durable packaging options to overcome damage caused by environmental conditions and transportation. This allows firms to distribute their products more easily and decrease transportation losses caused by breakage to the protective wrapping. The industry's expansion is being aided by rising globalisation and international trade. Growing commercial businesses, such as the chemical, pharmaceutical, construction, and electronics industries, are fuelling demand. The developed economies manufacture and consume the most of these things.