According to Zion Market Research, the — global transit packaging market is estimated to attain revenues of about $154.12 billion by the end of 2026, advancing at a CAGR of over 3.3% during the forecast period (2020–2026). The manufacturing industry is emulating dedicated strides in several domains and has exceeded as a channel of connectivity among nations. The export and import of goods from one end to another is a course that needs massive meticulousness and care, which puts the packaging industry at the rim of vigor. The products that come under the domain of transit packaging span across delicate, perishable, fragile, & non-resistant products and hence it is significant to make sure their hassle-free & safe delivery. The transit packaging industry has achieved impetus as it gives a guarantee of the wellness of goods.
The key market players in the market are Sonoco Products Company, Mondi, Packaging Corporation of America, Greif, Inc., Pratt Industries, Inc., ZOTEFOAMS INC., Smurfit Kappa Group, Svenska Cellulosa AB SCA, and BillerudKorsnas AB.
Advancement In Food & Beverages Industry To Stimulate The Global Transit Packaging Market
The expeditious addition of new sections in the product portfolios of various producers along with the surge in the commerce industry is a major driving force for the worldwide market in transit packaging. Additionally, the transit of products in geologically disconnected places where environmental aspects hamper the even flow of goods is successfully addressed by the transit packaging industry, therefore, capitalizing the trust of the producers. The food & beverage industry has gained momentum recently, which is projected to present a solid enhancement to the market. The costly electronic goods & equipment need astounding care throughout transport and the transit packagers assist in the fast and safe transfer.
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The global transit packaging market is bifurcated on the basis of the product types, consumer goods, and regional analysis. Based on the product types, the market is divided into barrels, wooden crates, intermediate bulk containers, strapping, and corrugated boxes. Based on the applications, the market is divided into consumer goods, pharmaceuticals, third-party logistics, electrical & electronics, industrial machinery & equipment, food & beverages, building & construction, chemicals, automotive, and e-commerce.
The Asia Pacific Region Is Estimated To Witness Massive Growth In The Global Transit Packaging Market
Based on the geographical analysis, the global transit packaging market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The domestic markets have established vast connectivity among themselves owing to the augment of globalization. Among the geographical sections, the Asia Pacific region is anticipated to lead the way and be the major contributor to concerning volume & value both. This is owing to the surging requirement for well-organized transit packaging solutions across China and India. Following the Asia Pacific region, North America is also paving the way in the market for transit packaging due to the rising concerns for better transport of products.
The global transit packaging market is segmented as follows:
By product types:
Intermediate Bulk Containers
Industrial Machinery & Equipment
Electrical & Electronics
Food & Beverages
Building & Construction
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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