Industrial packaging is the workmanship, science and innovative interaction of securing or bundling merchandise available to be purchased, dispersion, stockpiling and use in an assembling or modern setting. The term 'bundling' itself is gotten from the Latin 'castus' which makes an interpretation of into 'to bundle'. Bundling alludes to the strategy for making, assessing, creating, and planning bundling materials to bundle items in a fitting way. The term 'bundling' can be extensively characterized as the methodology in which products are gathered in a reasonable way with the assistance of compartments, sacks, holders, or cases.
Modern bundling alludes to various cycles that include the utilization of bundling materials for the creation of products and other mechanical necessities. The basic role of Industrial packaging is the defending and conservation of the items that are to be disseminated on the lookout. It is utilized as an instrument for improving the proficiency and adequacy of the creation and dissemination of merchandise. In the current situation, bundling has become a vital piece of our lives.
Market Dynamics
Significant growth in the fast moving consumer goods (FMCG) sector is expected to aid in growth of the industrial packaging market. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.
Decrease in sales of passenger cars is expected to decline demand for industrial packaging in the automotive sector, thereby hindering growth of the industrial packaging market. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019.
Among categories, the chemicals & pharmaceuticals segment is expected to witness significant growth in the industrial packaging market, owing to increasing investment in the pharmaceutical sector. For instance, according to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the pharmaceutical sector in Europe invested US$ 19, 509 million in 2000, which increased to US$ 39,895 million (est.) in 2018.
Competitive Analysis
Major players operating in the industrial packaging market include, Smurfit Kappa Group, Cascades Inc., Mauser Group B.V., Grief Inc., International Paper, Nefab Group, Schutz, Sonoco, AmeriGlobe and B.A.G. Corp.
January 2020: Danimer Scientific, a developer and manufacturer of biodegradable materials, and Columbia Packaging Group (CPG), a producer of custom plastic bags and flexible packaging, announced a partnership to create compostable bags, film, and roll-stock for the flexible packaging market.
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