The North America Industrial Packaging Market would witness market growth of 3.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Industrial Packaging Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $17,228 million by 2031. The Canada market is experiencing a CAGR of 5.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 4.7% during (2024 - 2031).
Industrial packaging encompasses solutions tailored to the requirements of industries and businesses for the secure and efficient handling, storage, and transportation of products. Unlike consumer packaging, which focuses primarily on product presentation and branding, industrial packaging prioritizes durability, functionality, and cost-effectiveness to ensure that products reach their destinations in optimal condition.
Moreover, industrial packaging is integral to numerous sectors, each with distinct requirements and challenges. Industrial products andantes the secure transportation and storage of raw materials, intermediate products, and finished commodities in manufacturing.
The Canadian food and beverage industry has experienced steady growth, driven by changing consumer preferences for convenience, health-conscious products, and premium offerings. This growth fuels demand for diverse industrial packaging solutions that cater to various product types, including ready-to-eat meals, snacks, beverages, and specialty food items. As per the Government of Canada, the food and beverage processing industry were the leading manufacturing sector in Canada by production value in 2022, with sales totaling $156.5 billion.
Free Valuable Insights: The Industrial Packaging Market is Predict to reach USD 83.3 Billion by 2031, at a CAGR of 4.0%
Based on Product Type, the market is segmented into Sacks, Crates/Totes, Drums, IBCs, and Pails. Based on Material, the market is segmented into Plastic, Metal, Paperboard, Wood, and Fiber. Based on Application, the market is segmented into Chemical & Pharmaceuticals, Food & Beverages, Building & Construction, Oil & Lubricants, Agriculture & Horticulture, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Product Type
By Material
By Application
By Country
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