Coleman Helen

scott korn

By 2023, the Global Industrial packaging market is expected to near $70 billion. An increase in construction in major emerging economies will require higher packaging standards since industrial goods are detrimental to the environment. This reimagining of the market will serve as a major factor of it's exponential growth. Asia-Pacific with an emphasis on China and India are the major revenue drivers for the industry due to their explosive population growth.

"Higher domestic demand, along with the availability of low wage laborers, make APEC the most attractive market for industrial packaging producers," stated Scott Korn. The chemical and pharmaceutical segment is expected to maintain the highest market share while food and beverage will experience the most growth over time eventually taking over the highest share by 2025.