PUBLISHER: Meticulous Research | PRODUCT CODE: 1266295
PUBLISHER: Meticulous Research | PRODUCT CODE: 1266295
Transit Packaging Market by Type (Primary Packaging, Secondary Packaging, Tertiary Packaging, Ancillary Packaging), Sector (Food & Beverage, Pharmaceutical, and Retail & E-Commerce), and Geography - Global Forecast to 2030
The research report titled, 'Transit Packaging Market by Type (Primary Packaging, Secondary Packaging, Tertiary Packaging, Ancillary Packaging), Sector (Food & Beverage, Pharmaceutical, and Retail & E-Commerce), and Geography-Global Forecast to 2030' provides an in-depth analysis of transit packaging market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global transit packaging market is projected to reach USD 152.7 billion by 2030, at a CAGR of 5.8% during the forecast period of 2023-2030. The growth of the transit packaging market is driven by the rapid growth of the e-commerce sector, the surging use of transit packaging in the food & beverage sector, the growing adoption of corrugated boxes across various sectors, and the increasing demand for transit packaging in the pharmaceuticals sector. In addition, the growing need for eco-friendly packaging solutions and the rising demand for customized packaging are expected to create market growth opportunities.
The transit packaging market is segmented by type (primary packaging [pouches, bags & sacks, cartons, foils, laminates, and wraps], secondary packaging [crates, trays], tertiary packaging [fiber boards, containers, pallets], ancillary packaging [printing & labeling, straps & tapes, cushioning material]), and sector (food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electricals & electronics, automotive, industrial machinery & equipment, and other sectors). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the global transit packaging market is segmented into primary packaging, secondary packaging, tertiary packaging, and ancillary packaging. In 2023, the primary packaging segment is expected to account for the largest share of the global transit packaging market. The large market share of this segment is attributed to the rising need to protect and preserve the finished products and the growing demand for primary packaging in the food & beverage and pharmaceutical sectors. However, the secondary packaging segment is projected to register the highest CAGR during the forecast period.
Based on sector the global transit packaging market is segmented into food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electrical & electronics, automotive, industrial machinery & equipment, and other sectors. In 2023, the food & beverage segment is expected to account for the largest share of the global transit packaging market. This segment's large market share is attributed to the growing packaged food industry in emerging economies, the increasing demand for shelf-life extension of foods, and the increasing demand for hygienic food packaging. However, the pharmaceutical segment is projected to register the highest CAGR during the forecast period.
Based on geography, the global transit packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global transit packaging market. Asia-Pacific's large market share is attributed to government initiatives promoting sustainable packaging in the region, the rapidly growing e-commerce sector, and the surging usage of transit packaging in the food and beverage sector. Asia-Pacific is also projected to register the highest CAGR during the forecast period.
The key players operating in the global transit packaging market are WestRock Company (U.S.), International Paper (U.S.) Greif, Inc. (U.S.), Sonoco Products Company (U.S.), Mondi Group plc (U.K.), Smurfit Kappa Group plc (Ireland), DS Smith Plc (U.K.), Packaging Corporation of America (U.S.), Crown Holdings, Inc. (U.S.), Nefab Group AB (Sweden), Corplex (France), Smithpack Limited (U.K.), STI-Gustav Stabernack GmbH (Germany), GWP Group (U.K.), and Eltete TPM Ltd (Finland).
Transit Packaging Market, by Type
Transit Packaging Market, by Sector
Transit Packaging Market, by Geography