MARCH 20238PANORAMATOP THREE TRENDS TRANSFORMING THE INDUSTRIAL PACKAGING INDUSTRYAround $36 trillion worth of manufactured items were created globally in 2018, virtually all of which were packaged, safeguarded, and distributed in some kind of industrial packaging. These industrial packaging materials are essential for the affordable, effective, and secure transportation of produced goods in domestic, international, and local trade. According to Smithers' most recent industry analysis, "The Future of Industrial Packaging through 2024", demand for industrial packaging will continue to expand over the next five years, with market value increasing from $56.2 billion in 2019 to $66 billion in 2024 at a CAGR of 3.3 percent. Although there are other far-reaching elements that may promote increased product innovations and evolutionary reorganization of value chains and business models, overall demand in this sector will always closely track global trade flows. As end-use requirements change, let's examine the major trends affecting the industrial packaging sector:
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