Transit Packaging Market driven by Growing Commerce and Rapid Addition of New Product Segments to be Transported
Packaging is an inevitable part of manufacturing industry. The growing global commerce is forcing manufacturers and packers to transport the goods at distant areas facing environmental and physical challenges. Hence, globally safe transportation of goods and materials is anticipated to be one of the major challenges for manufactures. The transit packaging industry hence helps manufacturers and packers by providing resilient, attractive and cost effective solutions for their transportation needs.
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The growing commerce and rapid addition of new product segments to be transported are anticipated to be the major drivers for the global transit packaging market. One of the major contributor to the global transit packaging market is anticipated to be the food and beverages market. Changing lifestyle preference and rapid urbanization is estimated to be the drivers to the transit packaging market. The growing demand of electrical and electronics equipment’s is pushing manufacturers to ship their products across the globe safely which expected to drive the transit packaging market. Safe handling and prompt delivery at crucial environmental and geographical conditions is forcing manufactures to take additional measures for packaging and transportation which is expected to drive the global transit packaging market. Increasing automation and use of technology in supply chain practices is pushing manufactures for better packaging to ensure safe handling which is anticipated to drive the global transit packaging market.
The regulations for packaging in some countries is anticipated to restrain the growth of the global transit packaging market in which manufacturers are minimizing the packaging. The sluggish growth in manufacturing sector is also anticipated to restrain the growth of global transit packaging market.
The opportunity for the global transit packaging market lies in developing durable and cost efficient packaging solution for diverse range of applications. Global transit packaging market can get benefitted through providing innovative solutions for new product segments. Global transit packaging market is anticipated to have huge growth opportunities in manufacturing multi use and easily recyclable products.
The global transit packaging market is segmented on the basis of type, application, end use and region.
On the basis of type the global transit packaging market is segmented by cases and protective packaging. The protective packaging segment is further classified as foams, pads, inserts fitments and others. On the basis of application the global transit packaging market is segmented into retail packaging, industrial packaging, consumer packaging, commercial packaging and others. On the basis of end-use the global transit packaging market is segmented by Food and Beverages Packaging, Electrical and electronics packaging, Consumer goods packaging, Furniture packaging, Industrial equipment’s packaging and others.
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On the basis of geography the global transit packaging market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America. Asia pacific is anticipated to be the major contributor both in terms of value and volume. Japan, China and Japan due to its growing industrial and commercial manufacturing practices is anticipated to be the major contributor of the global transit packaging market. Followed by Asia Pacific, North America is anticipated to be the major contributor of the global transit packaging market. Europe is also seen as a major market for the global transit packaging market followed by North America. The growth in Middle East and Africa is anticipated to be growing steadily over the forecasted period.
Some of the key participant of the global transit packaging market are Pratt Industries, Inc., Mondi , Smurfit Kappa Group, Svenska Cellulosa Aktiebolaget SCA (publ), Greif, Inc., Sonoco Products Company, Packaging Corporation of America, BillerudKorsnas AB, ZOTEFOAMS INC and others.
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