Global market for industrial packaging 2016-2026
According to a report by MarketsandMarkets (M&M), the market for industrial packaging is projected to grow from USD 54.94 Billion in 2016 to reach USD 93.28 Billion by 2026, at a CAGR of 5.4%. The market is growing due to increasing trends in end-use industries. The growth in this market is driven by the increasing trend in the chemical industry output combined with the increasing healthcare needs of drugs and medicines for the aging U.S. population, coupled with continuing innovations in drug development.
The sacks segment accounted for the largest share in 2015; and it is projected to grow at the highest CAGR between 2016 and 2026 (Press Release M&M, 28 November 2016).
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