LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Industrial Packaging Market - Procurement Intelligence Report.
The spend momentum of the industrial packaging market is primarily accredited to the growing demand from end-users such as chemicals and lubricants, construction, and agriculture. The increasing frequency of imports and exports of agricultural goods is creating a substantial demand for sack which is one of the category segments and will register nearly 26% growth. Drum, which is another category segment is expected to contribute almost 22% of the entire industrial packaging market share. This is attributed to the beneficial aspects of drums which are reusability and cost-efficiency that are driving their procurement across the chemicals and fertilizers industries. These factors will play critical roles in driving the industrial packaging market size on a global scale. Request a Free Sample of this industrial packaging market procurement intelligence report here!
Europe and APAC are the leaders in the global industrial packaging market and have a cumulative share of almost 67% of the global spend growth. Out of these regions, APAC claims the highest share in the market owing to the increasing demand for drums and IBCs from the construction industry that is currently experiencing exponential growth. Meanwhile, in Europe, the economic slowdown is stirring concerns among end-user industries such as pharmaceuticals and FMCG who are scaling up their production as a measure to tackle the growth slowdown. This is expected to create substantial demand for various category segments, thereby casting a positive impact on the global industrial packaging market size.
Insights offered in this report include industrial packaging pricing trends, supply market forecasts, major cost drivers, and category management insights. Such insights are relevant for both the buyers and the suppliers who seek a risk-free and a cost-effective procurement strategy. The category spend segmentation done in this industrial packaging market procurement intelligence report will guide the investors in identifying the best investment areas as well as help them in identifying cost-saving opportunities in the market. Get free customization of this procurement intelligence report on the industrial packaging market to get information tailored to your every requirement.
“Buyers are advised to engage with suppliers that collect used paper-related products that are significantly cheaper than virgin paper. This will result in significant cost savings for buyers who seek to procure cardboard packages,” says SpendEdge procurement expert Tridib Bora.
This industrial packaging market procurement intelligence report has estimated the following cost drivers to influence the category growth in the coming years:
- Demand for packaging drums is expected to grow significantly
- Growing demand for IBCs from the construction industry will accelerate the category spend momentum
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SpendEdge’s procurement market intelligence reports for the packaging and labeling category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Industrial packaging
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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