A new report titled "Global Transit Packaging Market Latest Trends and Key Drivers Supporting Growth through 2026" has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Transit Packaging Market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Transit Packaging Market across the globe.
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The retail marketplace has been witnessing a revolution with rapid expansion of ecommerce, which in turn has transformed the landscape throughout the supply chain. The pick & pack ecommerce methodology utilizes an additional secondary packaging & load utilization, thereby leading to demand for secondary as well as protective transit packaging materials.
Surging trade activities along with robust demand from end-use industries have made the transit packaging management complex. This has further resulted into introduction and rapid adoption of efficient fleet management for enabling management of tracking and cleaning containers, fleet sizes, and maintenance activities, in order to offer safe and effective transportation of goods. Increasing emphasis on safety of products during transportation has led to development and adoption of corrugated boxes in transit packaging, as they facilitate recycling and are sustainable for the environment. Environmental issues have played a fundamental role in the selection, product design, and business practices associated with transit packaging. Large retailers now demand for less wasteful, more efficient packaging, and their motivation for employing "greener" packaging materials rows in tandem with environmental sensitivities of companies driving the marketplace for transit packaging.
According to a new Market Research Reports Search Engine (MRRSE) research report, a steady expansion has been slated for the global transit packaging market between the forecast period 2019 and 2026. Over US$ 200,000 Mn worth of transit packaging are poised to be sold worldwide by 2026-end.
Robust production activities across various industries in Europe have resulted into huge adoption of transit packaging solutions, with food & beverage prevailing as the largest application area. Other factors including surging international trade, industrialization, and urbanization will further propel demand for transit packaging in Europe. Europe is anticipated to remain fast-expanding as well as become most remunerative market for transit packaging by 2026-end.
Cartons have been witnessing robust demand in the retail and consumer goods sector over the past few years. Utilization of cartons in storage and transportation of goods is key in modern logistics as it enables efficiency in terms of material handling. In terms of revenues, cartons will account for the largest market share during 2019 and 2026, based on packaging type.
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Transit packaging solutions for ecommerce, pharmaceuticals and third party logistics are manufactured by employing high-tech equipment for preventing loose thread contamination and maintaining hygiene standards. These three end use industries are expected to remain dominant in the global transit packaging market, in terms of revenues. Pharmaceuticals will remain the fast-expanding end use industry of transit packaging through 2026.
Polyurethane and paper & paperboard are expected to remain the most lucrative materials for production of transit packaging products, with sales poised to exhibit the highest CAGRs in the market through 2026.
Occupancy of a large number of local, regional, and multinational vendors has made the nature of the global transit packaging market highly fragmented, with regional players increasingly competing with international players through provision of innovative solutions at competitive prices. The international players however will retain their dominance in the market in terms of range of offerings, features, quality, and cost.
The market vendors are seeking wide scope for innovation, owing to growing demand from the pharmaceutical, food, fertilizer and chemical industries. International players are likely to expand inorganically in the foreseeable future through acquisition of local or regional players. Key participants fuelling growth of the global transit packaging market include SGS SA, Nefab AB, Eltete TPM Ltd., International Paper Co, Papier-Mettler KG, BEUMER Group GmbH & Co. KG, Deufol SE, Mondi Group PLC, Honeycomb Cellpack A/S, and Yinghua Plastic Products Co.
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Global Transit Packaging Market Latest Trends and Key Drivers Supporting Growth through 2026
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