Market Research Blog

Rising application in logistics and transportation has been fuelling sales of multi-depth corrugated boxes. According to Future Market Insights (FMI), the multi-depth corrugated boxes market is forecast to reach US$ 856.7 Mn in 2021. These boxes are cut down to the required size and height of the package is adjusted as per the size of the inside product. Ease of customization during packaging is a fueling factor for the growth of multi-depth corrugated boxes market across various regions.

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The demand for multi-depth style corrugated boxes is rapidly increasing, as these boxes save valuable storage space when the sides of the boxes are folded as per the need without using special carton sizing tool. The food and beverages industry accounts for maximum sales of corrugated boxes.

Key Takeaways of Multi-Depth Corrugated Boxes Market Study

• Driven by rising demand from various industries, the multi-depth corrugated boxes market is forecast to exhibit 6.4% CAGR between 2021 and 2031
• Within North America, the U.S. is expected to account for over 91% of the sales
• The U.K. is projected to register negative growth at -0.8% in 2021 following COVID-19 outbreak. Recovery is on card 2022 onwards
• The demand from Germany and France is expected to remain high through the forecast period
• China will continue dominating sales in East Asia, while demand from Japan and South Korea is projected to rise at a positive rate

 “Most of the secondary packaging material goes directly to waste bins, ending up in landfills or water bodies. With soaring protests against hazardous packaging waste polluting the eco-system, manufacturers and consumers both are concerned about reducing their share of toxic waste generated. Sustainability factor of multi-depth corrugated boxes has been favouring their sales in response to the increasing demand for environment-friendly packaging” says an FMI analyst.

Demand for High Performance Packaging

Development in packaging material is an important factor enabling growth in the packaging market. High-performance packaging has been developed with robust barrier characteristics and intelligent components. Adapting new changes in packaging material is intended at extending the shelf life of the product.

High-performance packaging material includes high barrier material, intelligent packaging, and nanotechnology. High-performance boxes are mostly manufactured from composite and recycled material to maintain sustainability. These boxes are capable of meeting various requirements to provide effective and ideal packaging solution.

The rising demand for light-weight and product-apt packaging has led to immense growth in the demand for multi-depth corrugated boxes in the market. Corrugated packaging is affordable, convenient, and offers required strength. Heavy-duty corrugated packaging is in high demand due to the rise in transportation and usage of bulky goods like heavy machinery and components for various industries. Double and triple-layer corrugated boxes are highly customized and designed as per customer requirements.

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Who is winning?

Georgia-Pacific LLC, International Paper, DS Smith Packaging Limited, Oji Holdings Corporation, Pratt Industries, Inc., Acme Corrugated Box Co. Inc., Great Little Box Company Ltd., A.D. Inc. of Milwaukee, WestRock Company, Smurfit Kappa Group Plc, Uline, Inc., Shillington Box Co., LLC. are some of the leading players in the multi-depth corrugated boxes market.

Multi-Depth Corrugated Boxes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global multi-depth corrugated boxes market, analysing historical demand from 2015-2019 and forecast statistics for 2020-2030.

The study reveals growth projections on the Multi-depth corrugated boxes market on the basis of capacity type (up to 80 lbs, 80 to 180 lbs, 180 to 300 lbs, and above 300 lbs), board type (single wall, double wall, and triple wall), strength (normal (below 32 ECT), standard (32 ECT), heavy duty (44 ECT), and heavy duty double wall (48 ECT)), end use (food & beverages, consumer electronics, home care & personal care, textiles, glassware & ceramics, automotive, and others) across seven regions.

Global bulk container packaging sales are set to grow at 3.1% in 2021, up from a modest 1.8% growth witnessed in 2020, according to latest insights presented by Future Market Insights (FMI). Bulk container packaging demand remained lackluster in 2020, mimicking the broader sluggishness in global economy. However, as revival commences, bulk container packaging manufacturers can expect sales to grow, albeit reaching pre-COVID levels will take some time.

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Key Takeaways

• Bulk container packaging market is estimated to expand ~1.6 times of current market value through 2031
• Bulk container segment is expected to hold more than 4/5^th value share; flextanks segment catching up
• Increasing preference for easy to carry containers bolstering demand for plastic bulk containers
• Industrial chemicals segment to hold nearly 45% value share
• China to emerge as a highly lucrative market, contributing nearly 30% of the revenue share by 2021-end

 “Bulk containers are gaining traction day by day in chemical and food & beverage and owing to the increasing demand for flexitanks for transporting non-hazardous chemicals and food ingredients, also penetrating transportation process.” says an FMI analyst.

Safety Concerns in Chemical Industry Amplifying Demand for RIBC (Rigid Intermediate Bulk Containers)

Rigid IBC (RIBC) is made of a plastic bottle, a metal cage, and a spout for easy emptying process of materials, which is mainly used during transportation. The well-built plastic liner inside the container helps in keeping the respective products safe while transporting and the metal cage makes the container sturdy enough to be stacked. The rigid IBC mainly carries liquids and is optimized to prevent the respective product from spilling at the time of transport.

RIBC manufacturers are adopting business strategies for the development of innovative products to boost the growth of the RIBC in the market. Many players have invested in producing technically advanced containers for the sake of products safety. Companies have produced tracking-enabling system-equipped bulk containers to allow customers to know the status of their respective products directly. Some key players involved in R&D activity of RFID enabled IBCs are CHEP (U.S.A.) Inc, Metano IBC Services, Inc, Hoyer Group etc.

Bulk Container Packaging Market Landscape

The bulk container packaging market is fragmented and the Tier 1 players in the market hold 40-45% share in the global bulk container packaging market.

Greif, Inc., Berry Global, Inc., Sealed Air Corporation, DS Smith Plc, Mondi Group, Bemis Company, Inc., International Paper Company, Winpak Ltd, Mauser Group B.V, Hoover Ferguson Group, Braid Logistics (UK) Limited, Qingdao LAF Packaging Co. Ltd., My Flexitank Industries Sdn Bhd, SIA Flexitanks Limited, Environmental Packaging Technologies, Inc., Snyder Industries, Inc, Schuetz GmbH & Co. KGaA, Büscherhoff Spezialverpackung GmbH & Co. KG, Bulk Lift International, Inc, Shandong Anthente New Materials Technology Co.,Ltd are some of the prominent players in the bulk container packaging market.

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Bulk Container Packaging Market Report

Bulk containers are primarily designed for store and transportation purpose of liquid and granulated substances such as food ingredients, chemicals, pharmaceuticals products etc. in bulk quantities. Bulk containers are shipped in a wide range of vehicles. It can be transported in cargo ships and even in extreme long monster truck trailers.

Most of the food & beverage, chemicals and pharmaceuticals companies are associated with bulk shipment process. Bulk containers are the first choice for transporting food gradients as these containers are capable of providing benefits to the warehouse operators who inevitably require a safe and hygienic process to transport some specific food items.

This collapsible container helps in shipping these products in an efficient and safe way. Moreover, sometimes using a poly liner inside the bulk container in the process of transporting materials helps in maintaining hygiene and integrity of the respective product.

Future Market Insights, in its new report, offers an unbiased analysis of the global bulk container packaging market, analysing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the bulk container packaging market on the basis of  product type (Flexitanks, Bulk Containers (Flexible- BIB Containers, FIBC, Rigid Bulk Containers- Lined RIBC, Unlined RIBC) and Bulk Container Liners), material type (Plastic (HDPE, LDPE and LLDPE, PP, PVC, Others), Metals and Others (Wood, Fiber, Paper Board), end use (Industrial Chemicals (Hazardous Chemical, Non Hazardous) Petroleum and Lubricants, Food and Beverages, Paints inks and Dyes, Pharmaceutical and Others) across seven regions.

Plastic rigid IBCs are containers used to store and transport various bulk material from one place to another, typically from the manufacturing plant to warehousing or even departmental stores. They are largely used in various end user industries for storage and transportation applications. The global plastic rigid IBC market is influenced by aspects such as rising demand in the food and beverage industry, chemical industry, pharmaceutical industry, etc., and the growth of this market is pushed by benefits provided by plastic rigid IBCs such as low cost of transportation and storage, reusability and ease in maintenance. They are a much preferred choice among manufacturers and this trend is fuelling the growth of the global plastic rigid IBC market in the years to come.

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The extensive research report on “Plastic Rigid IBC Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022)”, skilfully presented by Future Market Insights covers various market statistics and includes an in-depth analysis on various trends, developments, opportunities, threats and growth drivers impacting the expansion of the global market for plastic rigid IBCs in the years to come, across key regions in the globe. As per this research study, the global plastic rigid IBC market is poised to expand at a healthy CAGR of 6.2% throughout the period of assessment, 2017-2022.

4 Key Highlights on Global Plastic Rigid IBC Market

• Asia-Pacific excluding Japan region (APEJ) is highly lucrative region for the growth of the global plastic rigid IBCs. Owing to increasing technological developments supported by growing industrialization in this region, the need for storage and transportation of numerous bulky goods is rising. Moreover, due to low cost of land and labour, the APEJ region is marked by growing manufacturing plants in various fields such as chemicals, food and beverages, pharmaceuticals etc. This has triggered the demand for plastic rigid IBCs in this region
• By material type, the HDEP segment is the largest segment reflecting a high market share as of 2017. This segment is likely to expand in the years to come and to lead the global market by material type category. In 2017, this segment reflected a market share of 63.2%, making it the largest segment. The LLDPE segment also shows positive growth and is poised to register the highest CAGR during the assessment period followed by the LDPE segment
• By capacity type segment, the 1000-1500 litres segment is poised to grow at a higher CAGR of 6.5% owing to increasing demand for high capacity containers. Moreover, the 500-1000 litres segment is by far the largest segment showing good hold in the market. However, the above 200 litres capacity segment is expected to show slow growth owing to high costs of transportation compared to the material being transported and hence this capacity is used on a small scale and only in critical circumstances
• Industrial chemicals end use segment is anticipated to be a highly potential segment in the years to come. This segment has shown a very high intake of plastic rigid IBCs since couple of years. Tis segment is highly favourable for the growth of the plastic rigid IBC market during the assessment period. Moreover, the food and beverage industry also demands for more plastic rigid intermediate bulk containers and this end user segment represents a high CAGR of 6.5% throughout the 2017-2022 assessment period

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Key Player Analysis – Plastic Rigid IBC Competitive Scenario Included

The research study on global plastic rigid IBC market has included profiles of key players. This competitive analysis section includes key facts such as SWOT analysis, developments and innovations, product portfolio as well as key financials of various companies. In this report companies like Maschiopack GmbH, Bulk Handling Australia Pty Ltd, Snyder Industries, Inc., Hoover Ferguson Group, Inc., Time Technoplast Limited, Mauser Group B.V, Schutz Container Systems Inc., and Greif, Inc., are profiled.

The lubricant packaging market is projected to record a CAGR of ~5% during 2019-2029, majorly driven by the sales of automobiles, despite increasing prevalence of electric vehicles in the transport sector. An incessant rise in number of passenger vehicles worldwide has translated into rewarding opportunities for the lubricant packaging manufacturers. However, it is pertinent to note that recent slowdown of auto sales in countries such as China and India which represent the world’s largest automotive industry may negatively affect the market growth.

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The use of flexible packaging formats such as stand-up pouches & bag-in-box has been on the rise for lubricant packaging in the past couple of years, as lubricant manufacturers place their focus on achieving improved portability and convenience.

Key Takeaways from the Lubricant Packaging Market Study

• Plastic accounts for a hefty share in the lubricant packaging market, and is anticipated to retain its edge over other materials. With the ever-increasing demand for smaller pack sizes and pouches, plastic is likely to remain the material of choice for lubricant packaging. However, it is projected to lose grounds to metal as aversion for plastics surges globally.
• Despite the emergence of flexible packaging alternatives, drums continue to experience a sustained preference in the global lubricant packaging market, as obstacles to switching to alternative packaging formats are still significant.
• Stand-up pouches and bag-in-box containers are gradually making their way in lubricant packaging, but have a long way to go.
• The automotive industry has shaped the dynamics of lubricant packaging, and it continues to influence the global market scenario by holding nearly 1/3rd of the revenue share.
• Although packaging for engine oil is anticipated to influence the growth strategies till 2023, it is likely to register relatively low growth rate, due to emergence of electric vehicles.

“The billion-dollar lubricant packaging market is projected to grow at a steady pace in the next decade, providing huge growth potential to the packagers willing to evolve with newer industrial trends. With the paradigm shift towards flexible packaging, manufacturers can extend their production capabilities and partner with lubricant manufacturers to introduce innovative lubricant packaging solutions with enhanced portability and convenience.”

Key Players Focusing on Market Consolidation

Companies operating in the lubricant packaging market space are forming strategic alliances to achieve market consolidation. Such factors played a significant role in the joint venture of Time Technoplast Ltd. with Mauser AG, a German industrial packaging giant. Furthermore, lubricant packaging manufacturers are targeted towards consolidation activities through enhancement of existing product portfolios. For instance, Greif, Inc. acquired Caraustar Industries, Inc. in 2019, aiming to widen its product offerings, thereby strengthening its foothold in the global lubricant packaging market. 

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Looking for More Insights on Lubricant Packaging Market?

Future Market Insights, in its new offering, offers an unbiased analysis of the global lubricant packaging market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study unravels growth projections of the lubricant packaging market on the basis of packaging (stand-up pouches, bottles, drums, pails, cans, tubes, kegs, bag-in-box, and IBC), lubricant (engine oil, transmission and hydraulic fluid, process oil, metal-working fluid, general industrial oil, gear oil, and greases), material (metal (steel, tin), plastic (polyethylene(LDPE, HDPE), polyethylene terephthalate, polyvinyl chloride, polyamide, polypropylene, polystyrene), and others), end-use (automotive, metal working, oil & gas, power generation, machine industry, chemicals, and other manufacturing) across seven major regions.

Technology upgradation has major contribution towards increasing sales of micro perforated films packaging across the globe. Future Market Insights (FMI) in a new study has forecast the market to rise on expanding packaging industry, resilient ecommerce, and growing food delivery sector.

Advent of laser technology with advanced features such as laser power control, laser-pulse confirmation, and in-line video inspection results in enhancing precise gas and moisture transmission rates and hence shelf life of the inside product. Furthermore, the current packaging method encompasses CO2 laser technology for better sealing and maintaining freshness of the product. As per FMI analysis, laser perforation technology segment is holding maximum share in the global market compared to other segments. This technology offers high quality perforation and better consistency, venting and etching than mechanical venting and punch technique. Although, this technology holds nearly 3/5^th value share in the global market, which is attributable to aforementioned benefits, it is estimated to gain by nearly 200bps of current market share in near future.

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Additionally, the food packaging industry has been giving impetus to increasing sales of micro perforated films. Emerging e-commerce and online markets have fuelled up demand for micro perforated films. Investments in ready-to-eat food packaging and development of bakery and confectionary sector present a positive outlook for the growth of micro perforated films packaging market.

Key Takeaways of Micro Perforated Films Market Study

• Polypropylene has emerged as more preferred material for manufacturing micro perforated films and accounts for nearly half of the market share. Consistently increasing demand for high oxygen transmission rate carrying perforated films among end users bolstering polypropylene uptake
• Wraps/rolls are the most preferred type of packaging among consumers and their sales are estimated to increase further in the coming years. This segment is anticipated to remain lucrative in terms of incremental $ opportunity, during the forecast period

• Sales of micro perforated films in food packaging is expected to accelerate in next decade. Changing consumer food preferences such as ready-to-eat and on-the-go food has significant impact on the market growth for ensuring better shelf life of the product
• Micro perforated films packaging market in the United States alone is likely to increase at 5.2% during the forecast period. Micro perforated films sales in the US will be over 30% of total demand throughout the forecast period

“Many industries are taking on the green initiative, producing biodegradable micro perforated films that have benefits for both the environment and the society. Biodegradable micro perforated films are better for the environment because they can degrade easily under natural conditions. They are a great investment to have for any temperature-bound storage needs and can generally be sold fast. Therefore, these are first choice of the end users over the alternate solutions” says an FMI analyst.

Demand in Food Packaging will continue Surging

Demand for ready to eat and take-out food has increased owing to change in lifestyle, increase in disposable income of customers, and rapid urbanization in the emerging economies. Also, food consumption habits of consumers have changed rapidly owing to swiftly proliferating corporate work culture and industrialization. These developments are enabling sales in emerging economies where more number of food outlets and online food delivery services have opened.

Consumer focus on hygiene and food safety amid COVID-19 pandemic along with the rising demand for convenient packaging solution are increasing day-by-day. These requirements are inducing changes in packaging solutions. The demand for micro perforated films is increased potentially in the past year as consumers are preferring packaging solution that will keep product disinfected for longer duration. Besides this, government is also keeping eye on maintaining standards and quality of packaging approaches and material especially for direct consumable products. Reducing waste due to faster deterioration of food product, ease of contamination and fungal growth can be controlled to some extent using micro perforated films. Therefore, end users are gaining significant traction for such type of packaging films.

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Impact of COVID-19 on Micro Perforated Films Market

The COVID-19 pandemic has impacted the micro perforated films market owing to the disruptions in the supply chain. Severity and duration of the crisis and weak corporate balance sheets of the companies that are the customers of the packaging industry could result in significant pressure on the micro perforated films manufacturers to reduce selling prices and costs. The recovery of the micro perforated films players depends on the degree of disruption and the demand by customers. Furthermore, sectors such as packaging for food and pharmaceutical packaging are anticipated to witness rapid rebound. However, for sector such as construction, the recovery is likely to be slower, as the customers are hesitant to incur expenditure on non-necessary goods.

Who is Winning?

Amcor Limited, Uflex Ltd., Sealed Air Corporation, Bollore Group, Mondi Group, TCL Packaging Limited, KOROZO Ambalaj San,ve Tic A.S, Darnel Group, Coveris Holdings SA and NORDFOLIEN GmbH are some of the leading companies operating in the market. The micro perforated films market is fragmented and the Tier 3 players in the market hold 60-70% share in the global micro perforated films market.

In order to gain competitive advantage companies are focusing on product launches. For instance Uflex Limited has launched various projects like Project Plastic Fix, FlexFilms for more sustainable and recyclable plastic films in 2020.

In terms of value, the global filament tapes market is projected to increase at a CAGR of over 7% during the forecast period (2020-2026), owing to various factors, regarding which, FMI offers vital insights in detail in this report. Rise in infrastructural development, increasing purchasing power of consumers, and rapid growth of the e-Commerce sector are expected to fuel the filament tapes market. In addition, market growth will be driven by increasing sales of electronics & electrical devices. Filament tapes are used in sealing and bundling applications in electrical & electronics, and are the preferred choice among packaging companies over other tapes, given their high tensile strength and minimal residue on the metal surface after removal.

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Amidst the COVID 19 pandemic, the e-Commerce industry is likely to grow at an unprecedented pace, which is expected to augment the growth of the filament tapes market. On the flip side, industries such as automotive and consumer goods have been highly affected by the pandemic. As such, growth of the global filament tape market is expected to be relatively slow in 2020.

“Key manufacturers of filament tapes are focusing on product innovation and technological integration that can allow at-scale production, resulting in quality products at a lower cost. This is likely to attract customers, as it balances cost and value. Organizations are also partnering and collaborating with other players in the market to penetrate deeper into untapped regions. This will enhance brand value and increases market competitiveness in the filament tapes market.”

Key Takeaways of Filament Tapes Market Study

• Single-sided tapes account for over 50% share of the overall filament tapes market. However, double-sided tapes are expected to register high incremental opportunity in comparison with single-sided tapes, owing to their multi-functional ability and high performance characteristics.
• Amongst the adhesive types, rubber-based and acrylic-based adhesive types would account for over 70% market share, cumulatively.
• As per FMI analysis, carton sealing is major application of filament tapes, followed by insulation and bundling. Cartons that need to be transported require sturdy packaging to prevent products from getting damaged. Due to increase in e-Commerce spending and growth of the FMCG sector, the carton sealing application is expected to remain prominent throughout the forecast period.
• Automotive and electrical & electronics industries, cumulatively, would maintain their primacy in the filament tapes market. However, due to the impact of the COVID-19 outbreak, growth is anticipated to take a dip in the near term.
• Application of filament tapes is likely to surge in shipping & logistics and food & beverages, attributable to increasing shift of customers towards essential goods.

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Filament Tapes Market Landscape

3M, Intertape Polymer Inc., and Saint Gobain Performance Plastics Corporation have been identified as the top players in the global filament tapes market, and account for over 20% of global market value. Tier-2 players such as Tesa Tape Inc., Sekisui Chemical Group, and Shurtape Technologies, along with others players, also have decent sales of filament tapes. Tier-3 players such as Folsen, Guangzhou Weasy Adhesive Products Co., Euro Tapes Pvt. Ltd., and Cosmos Tapes & Labels Private Limited are other noteworthy market players.

The North America fresh meat packaging market is expected to grow at 3.1% CAGR surpassing the market valuation of US$ 788 million in 2021. The growth can be attributed to availability of customization in clear meat packaging and high demand for convenient packaging solutions among urban population.

Competition in the North America market for fresh meat packaging is expected soar. FMI however forecasts Berry Global Group Inc., Amcor Plc, Sealed Air Corp., Bolloré Group, and Winpak Ltd. to remain dominant, accounting for nearly 15% to 20% of overall sales registered in 2021.

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Market players are looking towards integrating recycled material in fresh meat packaging to replace the packaging solutions containing polystyrene foam tray and plastic film.

Growing consumer awareness and concern for non-biodegradable plastic has pushed market payers towards producing bio-plastics and molded fiber materials in compliance with performance requirements and standards set in packaging to keep the meat fresh for consumption.

Increasing consumption of animal meat especially poultry, pork, and beef in U.S. and Canada will boost the demand for fresh meat packaging solutions during the forecast period. Rapid urbanization and improved standard of living are the key factors directly influencing the consumption of animal products in these countries.

More than 354 million chickens were slaughtered in federally inspected slaughter houses in 2021 in Canada, according to Agriculture and Agri-Food Canada, Animal Industry Division.

Increasing slaughtering activities and establishment of retail chains and supermarkets has made animal meat readily available across North America. Rising demand for sustainable packaging which keeps meat fresh and offers stable shelf life has accelerated the sales of high barrier fresh meat packaging products.

COVID-19 pandemic hindered the fresh meat packaging production due to lack of raw material used in manufacturing and disruption of supply chain. As majority of raw materials are imported, lockdown and closure of trading routes slowed the production rate.

Market is expected to bounce back post pandemic. Investment in research and development of environment friendly packaging solution will boost the market growth.

Key Takeaways from FMI’s Fresh Meat Packaging Market Study

• Ethylene Vinyl Alcohol (EVOH) material segment is expected to grow at more than 4% CAGR owing to its eco-friendly nature and high recyclability.
• Modified atmosphere packaging technology is predicted to expand at more than 2.6% CAGR owing to its superior aesthetics and improved shelf life.
• 7-layer segment will generate the highest revenue followed by 5-layer segment as they offer extended shelf life, protects meat from bacteria like salmonella.
• U.S. will account for more than 80% share of the North America market backed by increasing consumption and export of poultry and beef and presence of modern processing infrastructure in the country.

“Rising popularity of fresh processed meat products like hot dogs and rapid expansion of quick service restaurant chains and fast food joints like McDonalds will boost the demand for fresh meat packaging in North America,” says the FMI analyst.

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Competitive Landscape

Future Market Insights in its latest market analysis discusses about the key trends shaping the fresh meat packaging market and highlights the strategies employed by market players to strengthen their market position.

Market players are emphasizing on expanding their product portfolio to reach wider customer base. They are also inclined towards forming alliance and strategic merger and acquisition with other players.

For instance, in April 2021, Coveris Holdings S.A. completed the acquisition of a profitable and stable business Initial Packaging Ltd which specialized in the production of specialty bags to focus on converted high end packaging solutions