Global Transit Packaging Market Size, Share, and COVID-19 Impact Analysis, by Material Type (Polyethylene, Polypropylene, Polyvinyl Chloride, PET, Polyurethane, Paper & Paperboard, Metal, Wood & Others), by Packaging Type (Wooden Crates, Cartons, Containers, Barrels, Pallets, Strappings & Others), by End-use Industry (Chemicals, Pharmaceuticals, Construction, Agriculture, Automotive, Food & Beverages & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The global transit packaging market was valued at USD 54.3 Bn in 2021. The market is projected to grow USD 107.2 Bn in 2030, at a CAGR of 5.8%. Transit packaging, also called as transportation packaging, is a type of packaging that protects items while they are being transported. Corrugated boxes, intermediate bulk containers, wooden crates, barrels, and other types of packing fall under this category. Durable transit packaging for a product protects not only the goods being carried, but also the manufacturer's brand image and increases customer happiness. Over time, transit packing has improved significantly. With the growth of the global e-commerce sector, transit packaging is reaching consumers more directly. Importing and exporting products, particularly fragile or perishable items, from one location to another, however, necessitates a great deal of care and upkeep. As a result, transit packing must be sturdy and durable in order to ensure that goods are delivered safely and without delay.

COVID-19 ANALYSIS

The outbreak of COVID-19 impacted negatively on the global transit packaging market. COVID-19 has resulted in indescribable human suffering, including death and disease, as well as unimaginable economic costs. As a result of the COVID-19 epidemic, some companies have ceased or significantly reduced their manufacturing capacity. Due to the COVID-19 issue, sales of transit packaging dropped dramatically when lockdowns were enacted and all factorial units were shuttered, resulting in manufacturing companies losing sales. Similarly, during the COVID-19 crisis, there was a greater emphasis on renewable technologies; nevertheless, due to labor shortages, fewer power facilities were operational.

LATEST TREND

Increasing Focus on Renewable Resources Favoring Market Growth

Due to massive usage, conventional materials are implementing negatively around the world. As a result, international leaders and academics are concentrating their efforts on renewable and green energy. The ever-increasing need for bio-based materials has increased for transit packaging.

DRIVING FACTORS

Increasing Packaging Business in Manufacturing Industry

The manufacturing industry has made remarkable gains in a variety of areas and has grown into a means of cross-national connectedness. Transit packaging, often known as transport packaging solutions, is a type of packaging that protects goods during transportation. This category includes intermediate bulk containers, food packaging, wooden boxes, drums, wine transport packaging, and other types of packaging.

Increasing Oversees Trade Fueling the Market Growth

The complex nature of transit packing and shipping management has been exacerbated by increased trade activity and strong demand from end-use sectors. This has led to the introduction and rapid adoption of efficient fleet management, which allows for the tracking and administration of cleaning containers, fleet sizes, and maintenance activities in order to provide safe and efficient products transportation.

RESTRAINTS

Concerns Pertaining to High Cost of Transport Packaging

The high cost of transport packaging is projected to limit market expansion. The advanced packaging type utilised in different verticals raise costs even further, which could operate as a market restraint for packaging business sector.

SEGMENTATION

The global transit packaging market is segmented by Material Type (Polyethylene, Polypropylene, Polyvinyl Chloride, PET, Polyurethane, Paper & Paperboard, Metal, Wood & Others), by Packaging Type (Wooden Crates, Cartons, Containers, Barrels, Pallets, Strappings, Others), by Vertical (Chemicals, Pharmaceuticals, Construction, Agriculture, Automotive, Food & Beverages, Others) and region. Based on the material type, the market is categorized into polyethylene, polypropylene, polyvinyl chloride, pet, polyurethane, paper & paperboard, metal, wood & others. Based on packaging type, the market is categorized into wooden crates, cartons, containers, barrels, pallets, strappings, & others. Based on end-use industry, the market is categorized into chemicals, pharmaceuticals, construction, agriculture, automotive, food & beverages & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Material Type Insights

Based on the material type segment, the global transit packaging market is categorized into polyethylene, polypropylene, polyvinyl chloride, pet, polyurethane, paper & paperboard, metal, wood & others. The paper & paperboard segment has dominated the market share of the global transit packaging market in 2020 owing to its physical properties as it is strong and tough by its nature and can protect the goods in rough conditions.

Packaging Type Insights

Based on the packaging type segment, the global transit packaging market is categorized into wooden crates, cartons, containers, barrels, pallets & others. The cartons held the largest market share in 2020 of the global transit packaging market attributing by increasing demand across retail and consumer goods sector is likely to propel the growth of the global transit packaging market. The requirement of cartons for the huge storage in warehousing and transportation of products with advanced technologies will be boosting the market growth.

End User Industry Insights

Based on the end user industry segment, the global transit packaging market is categorized into chemicals, pharmaceuticals, construction, agriculture, automotive, food & beverages & others. The automotive held the largest market share in 2020 of the global transit packaging market owing to the increasing number of automobiles and their components across the world.

REGIONAL INSIGHTS

The global transit packaging market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is dominating the market share of global transit packaging market owing to the presence of prominent manufacturing players that develop and distribute world-class transit packaging solutions, as well as a desire for better and more efficient transportation packaging solutions. Growing demand for transit packaging solutions and returnable transit packaging is providing major transit packaging manufacturers with significant potential to expand their presence in the region. However, Asia Pacific is expected to witness the fastest growth rate over the forecast period of the transit packaging market due to the strong economic development rate and rapid industrialization, Asia Pacific's emerging dominance is offering opportunities for package makers. Growing demand for transit packaging is predicted to rise due to increased acceptance of protective packaging choices, the existence of e-commerce hubs, and rising concerns about better product transportation. The food and beverage sector is the most popular application area for transit packaging solutions and services in the country due to the huge production of horticulture items.

INDUSTRY PLAYERS

· SGS SA

· Mondi

· International Paper

· Borealis AG

· Nefab AB

· Eltete TPM Ltd

· Smurfit Kappa

· Papier-Mettler KG

· BEUMER Group

· Deufol SE

· Sonoco Products Company

· Greif

· Packaging Corporation of America

· ZOTEFOAMS INC

· Pratt Industries, Inc.

· Svenska Cellulosa Aktiebolaget SCA (publ)

· BillerudKorsnäs

KEY INDUSTRY DEVELOPMENTS:

May 2022- Nefab has joined hands with Northlink to expand its packaging and logistics offerings for the market in northern Sweden. Another motive for this joint venture is to expand the customer base across Sweden.

SEGMENTATION

By Material Type

• Polyethylene
• Polypropylene
• Polyvinyl Chloride
• PET
• Polyurethane
• Paper & Paperboard
• Metal
• Wood
• Others

By Packaging Type

• Wooden Crates
• Cartons
• Containers
• Barrels
• Pallets
• Strappings
• Others

By End-use Industry

• Chemicals
• Pharmaceuticals
• Construction
• Agriculture
• Automotive
• Food & Beverages
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia