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Industrial Packaging Market Outlook
The industrial packaging market is expected to witness category spend growth of more than USD 13 billion between 2018-2023, with spend momentum accelerating at a CAGR of 4.82% during the forecast period. This spend growth is primarily attributed to the growing demand for industrial packaging solutions from end-users such as chemicals and lubricants, construction, and agriculture. Among the category types, the sacks and the drums segments will account for a large-scale procurement with each registering a growth of nearly 26% and 22% respectively of the entire industrial packaging market share. The increasing frequency of imports and exports of agricultural goods are peaking the demand for sacks. The gradual growth of the cement industry will also contribute to demand growth in the industrial market. Advantages such as reusability and cost-efficiency offered by plastic drums are driving its procurement across the chemicals and fertilizers industries. These factors will play prominent roles in driving the global industrial packaging market size during the forecast period.
By region, Europe and APAC are the leaders of the global industrial packaging market, accounting for approximately 67% of the total demand. APAC holds the highest share of the market owing to the increasing demand for drums and IBCs from the construction industry that is currently experiencing exponential growth. In Europe, the economic slowdown will drive the end-user industries such as pharmaceuticals and FMCG to scale up their production. Consequently, this will create substantial demand for various category segments, thereby casting a positive impact on the global industrial packaging market size.
Insights Offered in this Industrial Packaging Market Report
Our reports from the packaging and labeling category offer buyers with actionable data on the current and future supply market scenario. Coverage of the cost factors that are impacting the US industrial packaging market size, including category spend analysis, pricing outlook, supplier cost structure, etc., is also offered in this report. Additional information includes an analysis of the cost and volume drivers, top suppliers, and category management strategies.
Our portfolio of reports helps buyers understand:
This procurement intelligence report highlights the current industrial packaging market pricing trends that include an overview and comparison of pricing models, supply chain margins, and the volume and cost drivers impacting pricing:
Optimize Category Spend for Industrial Packaging
Extreme volatility in raw material prices will pose as one of the prominent cost accelerators in the industrial packaging market. However, a strategic partnership with suppliers will open avenues for buyers to achieve substantial cost savings. On that note, buyers are advised to engage with suppliers that collect used paper-related products that are significantly cheaper than virgin paper. In due process, this will result in significant cost savings for buyers who seek to procure cardboard packages.
To help category managers optimize spend on industrial packaging, this report also offers:
Build Strategies for Effective Supplier Selection
One of the essential supplier selection criteria in this market is its VMI capabilities. This refers to their ability to ensure low inventory holding costs and zero stock-out levels, as this will help buyers to ensure the continuity of operations.
This industrial packaging market procurement intelligence report identifies the major costs incurred by suppliers and provides additional information on:
Category managers are advised to partner with suppliers that focus on adopting sustainability across their supply chain. Such suppliers are known to introduce various innovations such as a reduction in raw material usage and the use of eco-friendly materials for manufacturing industrial packages. This will enable buyers to meet their sustainability goals in this market.
Key insights offered in this industrial packaging market procurement intelligence report on the industrial packaging market will help the buyers identify:
Information on the industrial packaging suppliers and market buyer and supplier insights are highlighted in this procurement intelligence report.
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