Transit Packaging Market expanding at a CAGR of 10.4% from 2022 to 2026 with Growing Demand

Transit Packaging Market

The market for transit packaging is expected to be worth US$ 62.7 billion in 2022 and US$ 102.1 billion by 2026, growing at a CAGR of 10.4% between 2022 and 2026.

Nowadays, transit packaging solutions hold a 27% market share for packaging used in international e-commerce. For the evaluation period of 2022 to 2026, sales of cartons are anticipated to display a relatively faster expansion.

E-commerce Fulfillment Hubs are Aggressive in the Development & Implementation of Automation Systems in Warehouse & Logistics

Traditionally, material handling, shipping, and warehousing operations associated with transit packaging have been labor-intensive, burdening personnel costs and potential for injury, accident, and product damage. Currently, there is huge emphasis on accommodating human operators and human-operated equipment in the warehouse layout and design, which in turn will lead to optimum utilization of warehouse space and overhead volume.

There has been a rise in the incorporation of stock-picking robots and robotic forklifts that require relatively narrower aisles than the human-operated machines, thereby enabling safe manipulation of taller shelves, racks and pallet stacks. E-commerce fulfillment hubs have become more aggressive in the development and implementation of automation systems in warehouse and logistics, which in turn is expected to reshape the market for transit packaging in the near future.

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Surging trade activities coupled with robust demand for packaging from various end-use industries are driving complications in transit packaging management. This has further led toward the introduction and high adoption of the efficient fleet management systems for facilitating management of tracking & cleaning containers, maintenance activities, and fleet sizes, in order to deliver safe and efficient transportation of goods.

Soaring emphasis on the product safety during transportation has fuelled adoption of corrugated boxes, as they facilitate the process of recycling and are more sustainable for the environment. The environmental issues play a fundamental role in selection, business practices, and product design of transit packaging. Prominent retailers currently demand for less wasteful and more efficient transit packaging solutions, with their motivation for using “greener” packaging materials rowing in tandem with the environmental sensitivities of players driving the market for transit packaging globally.

Key Research Findings from the Report

  • Europe will account for the lion’s share of the market by 2026-end, succeeded by North America and Asia-Pacific excluding Japan (APEJ). Revenues from transit packaging market in Europe and APEJ are expected to increase relative faster through 2026. In addition, revenues from the market in North America and Latin America are projected to witness a parallel increase through 2026.
  • Polyurethane and paper & paperboard are expected to retain their position of being fastest growing packaging materials in the global transit packaging market. In contrast, sales of polyethylene and ethylene vinyl alcohol are expected to grow in parallel at the lowest CAGR through 2026.
  • On the basis of packaging type, cartons and containers are expected to lead the global transit packaging market, in terms of revenues. However, sales of wooden crates are poised to reflect a comparatively faster expansion through 2026.
  • Pharmaceuticals and third party logistics will prevail as fast-growing end use industries of transit packaging, with revenues collectively estimated to reach approximately US$ 55,000 Mn by 2026-end.

Occupancy of numerous local, regional, and multinational players has made nature of global transit packaging market fragmented, wherein regional players are increasingly competing against international players via provision of various innovative solutions at relatively lower prices. International players are likely to retain their dominance in terms of quality, range of offerings, features, and cost. Wide scope for innovation is being highly sought-after by the market vendors, owing to surging demand from the food, fertilizer, pharmaceutical, and chemical industries.

An inorganic expansion is estimated for international players in the market through acquisition of local or regional players in the near future. FMI’s report identifies key players driving the market growth, which include Yinghua Plastic Products Co., Mondi Group PLC, Honeycomb Cellpack A/S, Deufol SE, Papier-Mettler KG, BEUMER Group GmbH & Co. KG, International Paper Co., Nefab AB, Eltete TPM Ltd, and SGS SA.

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Market Taxonomy

A segmentation analysis delivered in the report submits insights on the global market for transit packaging. The market is characterized based on end use industries, packaging type, material type, and region. Analyses on the Y-o-Y growth comparison, market share comparison, and the revenue comparison in accordance with relevant market numbers has been delivered in this chapter. The global market for transit packaging has been divided regionally into Asia-Pacific excluding Japan, Europe, Middle East & Africa, Japan, Latin America, and North America.

Region

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

Material Type

  • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Polyvinyl Chloride
  • Ethylene vinyl alcohol
  • Polyurethane
  • Paper & Paperboard
  • Metal
  • Wood

Packaging Type

  • Cartons
  • Wooden crates
  • Containers
  • Corrugated boxes
  • Barrels
  • Intermediate Bulk Containers
  • Strapping
  • Other Packaging Type

End Use Industries

  • E-Commerce
  • Automotive
  • Building & Construction
  • Chemicals
  • Food & Beverages
  • Electrical & Electronics
  • Industrial Machinery and Equipment
  • Pharmaceuticals
  • Third Party Logistics
  • Consumer Goods

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Key Benefits

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Transit Packaging market analysis from 2022 to 2032 to identify the prevailing Transit Packaging market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the Transit Packaging market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Transit Packaging market trends, key players, market segments, application areas, and market growth strategies.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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