The market for transit packaging is expected to be worth US$ 62.7 billion in 2022 and US$ 102.1 billion by 2026, growing at a CAGR of 10.4% between 2022 and 2026.
A new research report of Future Market Insights has slated an above-average expansion for the global transit packaging market through the forecast period (2017-2026). Revenues from the market are poised to surpass US$ 200,000 Mn by 2026-end.
Ecommerce Fulfillment Hubs Aggressive in Development & Implementation of Automation Systems in Warehouse & Logistics
Traditionally, material handling, shipping, and warehousing operations associated with transit packaging have been labor-intensive, burdening personnel costs and potential for injury, accident, and product damage. Currently, there is huge emphasis on accommodating human operators and human-operated equipment in the warehouse layout and design, which in turn will lead to optimum utilization of warehouse space and overhead volume. There has been a rise in the incorporation of stock-picking robots and robotic forklifts that require relatively narrower aisles than the human-operated machines, thereby enabling safe manipulation of taller shelves, racks and pallet stacks. Ecommerce fulfillment hubs have become more aggressive in the development and implementation of automation systems in warehouse and logistics, which in turn is expected to reshape the market for transit packaging in the near future.
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Surging trade activities coupled with robust demand for packaging from various end-use industries are driving complications in transit packaging management. This has further led toward the introduction and high adoption of the efficient fleet management systems for facilitating management of tracking & cleaning containers, maintenance activities, and fleet sizes, in order to deliver safe and efficient transportation of goods. Soaring emphasis on the product safety during transportation has fuelled adoption of corrugated boxes, as they facilitate the process of recycling and are more sustainable for the environment. The environmental issues play a fundamental role in selection, business practices, and product design of transit packaging. Prominent retailers currently demand for less wasteful and more efficient transit packaging solutions, with their motivation for using “greener” packaging materials rowing in tandem with the environmental sensitivities of players driving the market for transit packaging globally.
Key Research Findings from the Report
- Europe will account for the lion’s share of the market by 2026-end, succeeded by North America and Asia-Pacific excluding Japan (APEJ). Revenues from transit packaging market in Europe and APEJ are expected to increase relative faster through 2026. In addition, revenues from the market in North America and Latin America are projected to witness a parallel increase through 2026.
- Polyurethane and paper & paperboard are expected to retain their position of being fastest growing packaging materials in the global transit packaging market. In contrast, sales of polyethylene and ethylene vinyl alcohol are expected to grow in parallel at the lowest CAGR through 2026.
- On the basis of packaging type, cartons and containers are expected to lead the global transit packaging market, in terms of revenues. However, sales of wooden crates are poised to reflect a comparatively faster expansion through 2026.
- Pharmaceuticals and third party logistics will prevail as fast-growing end use industries of transit packaging, with revenues collectively estimated to reach approximately US$ 55,000 Mn by 2026-end.
Occupancy of numerous local, regional, and multinational players has made nature of global transit packaging market fragmented, wherein regional players are increasingly competing against international players via provision of various innovative solutions at relatively lower prices. International players are likely to retain their dominance in terms of quality, range of offerings, features, and cost. Wide scope for innovation is being highly sought-after by the market vendors, owing to surging demand from the food, fertilizer, pharmaceutical, and chemical industries. An inorganic expansion is estimated for international players in the market through acquisition of local or regional players in the near future. FMI’s report identifies key players driving the market growth, which include Yinghua Plastic Products Co., Mondi Group PLC, Honeycomb Cellpack A/S, Deufol SE, Papier-Mettler KG, BEUMER Group GmbH & Co. KG, International Paper Co., Nefab AB, Eltete TPM Ltd, and SGS SA.
A segmentation analysis delivered in the report submits insights on the global market for transit packaging. The market is characterized based on end-use industries, packaging type, material type, and region. Analyses on the Y-o-Y growth comparison, market share comparison, and the revenue comparison in accordance with relevant market numbers has been delivered in this chapter. The global market for transit packaging has been divided regionally into Asia-Pacific excluding Japan, Europe, Middle East & Africa, Japan, Latin America, and North America.
- North America
- Latin America
- Polyethylene Terephthalate
- Polyvinyl Chloride
- Ethylene vinyl alcohol
- Paper & Paperboard
- Wooden crates
- Corrugated boxes
- Intermediate Bulk Containers
- Other Packaging Type
End Use Industries
- Building & Construction
- Food & Beverages
- Electrical & Electronics
- Industrial Machinery and Equipment
- Third Party Logistics
- Consumer Goods
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What to Expect in Our Report?
(1) A complete section of the Global Transit Packaging market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.
(2) Another broad section of the research study is reserved for regional analysis of the Global Transit Packaging market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.
(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Transit Packaging market.
(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisitions taking place in the Global Transit Packaging market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.
(5) Readers are provided with findings and conclusion of the research study provided in the Global Transit Packaging Market report.