The global logistics sector continues to develop at an impressive rate. As a result, the packaging industry is undergoing enormous changes with specified focus on posing innovative packaging tools/products to various industry verticals. Logistics packaging is primarily done to enhance product safety, maintain product quality, extended product storage, and cater to other aspects involved in product manufacturing. Logistics packaging manufacturers mainly use metal, plastic, wood pellets, fiber, and paper while manufacturing various types of packaging for industrial applications. Logistics packaging involves high-quality standards to meet the demand of different markets on a global level.
Logistics Packaging Market: Drivers & Restraints
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The major factors driving the growth logistics packaging market are increasing export and import across the globe, increasing industrialization, advancement in the packaging industry, and project initiations by government across all industry for the growth of the respective country. Moreover, logistics packaging market is growing at the faster pace due to benefit from new innovations and developments within the industry. With many economies recuperating, developing countries emerging in terms of technology and expansion, industrial sectors developing at the faster pace across the globe, and the e-commerce market attaining growth in the logistics packaging market and is expected to grow at significant CAGR in coming years. Moreover, rising demand in the chemicals market, increased development work and infrastructure and also rising consumption of logistics packaging products in the pharmaceutical and consumer’s goods industry will remain a driving demand for logistics packaging market products in forecast years. As logistics packaging play a vital role in the supply-demand chain due to the reason that it shields goods from infected during the period of storage and transportation. On the other side, there are few chemical product segments and environmental concerns over logistics packaging as well as challenge face due to transport are the major hindrance to the growth of overall logistics packaging market.
Logistics Packaging Market: Market Segmentation
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The logistics packaging market is segmented into five parts based on the type, packaging type, durability type, material type, industry vertical types, and geography.
Based on the packaging type durability type the logistics packaging market is segmented into:
- Flexible Logistics Packaging
- Rigid Logistics Packaging
Based on the material durability type the logistics packaging market is segmented into:
- Durable Goods
- Non-Durable Goods
Based on the material type the logistics packaging market is segmented into:
Based on the type of industry verticals logistics packaging market is segmented into:
- Consumer Goods
- Food and Beverages
Logistics Packaging Market: Regional Outlook
Regarding geography, logistics packaging market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. The logistics packaging market is anticipated to register healthy CAGR during the estimated period. Asia-Pacific represents the comparatively high market share and grows with comparatively significant CAGR in the forecast period. North America market is growing rapidly due to the rapid increase in the production capacity of logistics packaging increasing rate of export and import internationally, domestically and regionally across the globe. Development of supply chain management and transportation industry is, in turn, enhancing the growth of logistics packaging sector in terms time management and deliverable networks across the globe in any direction. Key factors driving the growth of logistics packaging market in the region include changing packaging pattern and advancement in flexible and rigid packaging, increasing demand logistics packaging in all industry verticals, especially food and beverages, manufacturing, and consumer’s goods. The logistics packaging market is projected to register healthy growth due to the recent developments and initiation of new projects across all industry, rapid industrialization, and government initiations to enhance and uplift industry verticals across the region. Logistics packaging market for Asia Pacific is also likely to register a rapid growth during the estimates period mainly attributed to the growth of packaging industry, especially in China and India. Moreover, Growth in food & beverages and e-commerce industries are the key drivers of with increasing number e-commerce stands, the growing demand for packaging is rapidly increasing, and in turn, boost the overall growth of logistics packaging market.
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Logistics Packaging Market: Key Players
Some of the key players identified in the logistics packaging market are:-
- Braid Logistics
- Trans Ocean Bulk Logistics
- BLT Flexitank Industrials Co. Ltd.
- BAG Corp.
- Jumbo Bag Corporation
- Boxon USA