Transit Packaging Market to Be Worth $152.7 Billion by 2030

 

Meticulous Research®— leading global market research company, published a research report titled,' Transit Packaging Market by Type (Primary Packaging, Secondary Packaging, Tertiary Packaging, Ancillary Packaging), Sector (Food & Beverage, Pharmaceuticals, Retail & E-Commerce), and Geography - Global Forecast to 2030.'

 

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According to this latest publication from Meticulous Research®, the transit packaging market is projected to reach $152.7 billion by 2030, at a CAGR of 5.8% from 2023–2030. The growth of the transit packaging market is driven by the rapid growth of the e-commerce sector, the surging use of transit packaging in the food & beverage sector, the growing adoption of corrugated boxes across various sectors, and the increasing demand for transit packaging in the pharmaceuticals sector. However, the increasing overall packaging costs due to dynamic regulatory policies restrain the growth of the transit packaging market. The growing need for eco-friendly packaging solutions and the rising demand for customized packaging are expected to create market growth opportunities. However, additional distribution channel costs are a major challenge for the players operating in this market. The internet of packaging and digital printing are the latest trends in the transit packaging market.

 

The transit packaging market is segmented by type (primary packaging [pouches, bags & sacks, cartons, foils, laminates, and wraps], secondary packaging [crates, trays], tertiary packaging [fiber boards, containers, pallets], ancillary packaging [printing & labeling, straps & tapes, cushioning material]), and sector (food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electricals & electronics, automotive, industrial machinery & equipment, and other sectors). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

 

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Based on type, the transit packaging market is segmented into primary packaging, secondary packaging, tertiary packaging, and ancillary packaging. In 2023, the primary packaging segment is expected to account for the largest share of the transit packaging market. The large market share of this segment is attributed to the rising need to protect and preserve finished products, the growing e-commerce sector, and the rising demand for primary packaging in the food & beverage and pharmaceutical sectors. In addition, the benefits offered by primary packaging solutions, such as convenience, easy handling, proper display, safety, and stacking, further support the growth of this segment.

 

However, the secondary packaging segment is slated to register the highest CAGR during the forecast period. The growing demand for eco-friendly packaging solutions, the rising need for the safe transportation of products, and the rising demand for customized packaging are expected to support the rapid growth of this segment.

 

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Based on sector, the transit packaging market is segmented into food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electricals & electronics, automotive, industrial machinery & equipment, and other sectors. In 2023, the food & beverage segment is expected to account for the largest share of the transit packaging market. The large market share of this segment is attributed to the rising demand for convenient and sustainable packaging solutions, the growth of the packaged foods industry in emerging economies, the increasing need to extend the shelf life of F&B products, and the increasing demand for hygienic food packaging.

 

However, the pharmaceuticals segment is slated to register the highest CAGR during the forecast period. The rising demand for drug delivery devices and blister packaging, growing consumer awareness regarding healthier lifestyles. rising demand for primary pharmaceutical packaging, and growing healthcare expenditures in emerging economies are expected to support the growth of this segment.

 

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Based on geography, the transit packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the transit packaging market. The region’s large market share is attributed to the surging use of transit packaging in the region’s food & beverage sector, the growing need for eco-friendly packaging solutions, and the presence of prominent players in the region. Also, leading players are undertaking initiatives to drive the growth of the transit packaging market. For instance, in December 2022, Amcor plc (Switzerland) opened its new state-of-the-art manufacturing plant in Huizhou, China. With an investment of almost $100 million, the 590,000-square-foot plant is the largest flexible packaging plant (by production capacity) in China. [AD1]

 

Moreover, Asia-Pacific is expected to record the highest growth rate during the forecast period. The rapid growth of this regional market is attributed to the growth in regional economies and the expanding e-commerce sector, especially in China, Japan, South Korea, and India.

 

Key Players:

 

The key players operating in the transit packaging market are WestRock Company (U.S.), International Paper (U.S.) Greif, Inc. (U.S.), Sonoco Products Company (U.S.), Mondi Group plc (U.K.), Smurfit Kappa Group plc (Ireland), DS Smith Plc (U.K.), Packaging Corporation of America (U.S.), Crown Holdings, Inc. (U.S.), Nefab Group AB (Sweden), Corplex (France), Smithpack Limited (U.K.), STI-Gustav Stabernack GmbH (Germany), GWP Group (U.K.), and Eltete TPM Ltd (Finland).

 

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E-commerce Market to be Worth $21,168.6 Billion by 2030

 According to a new market research report titled, ‘‘E-commerce Market by Business Model, Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank Transfer), Operational Channel, offering (Beauty & Fashion, Food & Beverage, Electronic, Household) - Global Forecast to 2030,’ the E-commerce market is projected to reach $21,168.6 billion by 2030, at a CAGR of 16.9% during the forecast period 2023–2030.

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E-commerce is not a new term for consumers across the world. E-commerce enables businesses to reach a wider customer base, including customers in different geographical locations, which can lead to increased sales and revenue. Shopping from home, discounts and offers extended by brands and E-commerce platforms, and multiple payment options have helped the E-commerce market. E-commerce provides numerous benefits to businesses, including increased reach, lower operating costs, 24/7 availability, personalization, faster transactions, data analytics, and increased efficiency. These benefits can result in increased sales and revenue, improved customer satisfaction and loyalty, and a competitive advantage in the marketplace.

 

However, during the COVID-19 pandemic, many market players were not ready to deliver under such tremendous pressure, affecting the overall market growth. In this research, all recent dynamics associated with E-commerce were thoroughly analysed to precisely estimate the future of the E-commerce market. This study also includes profiling key E-commerce stakeholders and segmenting them based on their market standing.

 

Based on business model, in 2023, the horizontal E-commerce segment is expected to account for the larger share of the E-commerce market. The horizontal E-commerce model caters to a diverse product category and hence enjoys a large section of consumers and high sales, contributing to the high share of the segment. Horizontal e-commerce platforms often use a marketplace model, where third-party sellers can also list and sell their products on the platform. This allows for even greater product variety and selection, as well as increased competition and potentially lower prices for customers.

 

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However, the vertical E-commerce model is projected to register the highest CAGR during the forecast period. The vertical E-commerce model allows businesses to offer customers a specialized and tailored shopping experience within a specific product category or industry. By focusing on a specific niche, businesses can differentiate themselves from larger, more generalized e-commerce platforms and establish a strong brand identity.

 

Based on browsing medium, in 2023, the desktop/laptop segment is expected to account for the larger share of the E-commerce market. However, the mobile/tablet segment is expected to grow with the fastest growth rate over the forecast period. Mobile devices are becoming increasingly popular for E-commerce, and businesses need to optimize their websites for desktop and mobile platforms to ensure a seamless customer experience. Mobile and tablet devices have significantly impacted E-commerce, providing customers with greater accessibility and convenience, improving user experience, enabling new payment options, location-based services, social media integration, and driving business sales growth.

 

Based on payment mode, in 2023, the card payments segment is expected to account for the largest share of the E-commerce market. However, the digital wallets segment is projected to register the highest CAGR during the forecast period. Digital wallets have significantly impacted E-commerce, providing a convenient, secure, and fast payment method, enabling mobile payments, loyalty programs, and improving the overall user experience for customers. As a result, more and more E-commerce businesses are integrating digital wallet payment options to provide their customers with greater convenience and security.

 

Based on operational channel, in 2023, the omni-channel E-commerce segment is expected to account for the larger share of the E-commerce market. The large market share of this segment is attributed to the increased customer experience, increased sales, and consumer traffic, boosting customer loyalty, and better data collection for optimum customer and resource management. Also, this segment is projected to register the highest CAGR during the forecast period.

 

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Based on offering, in 2023, the beauty & fashion products segment is expected to account for the largest share of the E-commerce market. The large market share of this segment is attributed to the rapidly changing customer behavior and preference towards online shopping, the high demand for cosmetics and clothing, and the rising popularity of mobile wallets. Besides, the increasing use of smartphones, incorporation of advanced technologies in online platforms, and various beauty & fashion goods available for comparison on E-commerce platforms further augment this segment's growth. Also, this segment is projected to register the highest CAGR during the forecast period. E-commerce has significantly impacted the beauty and fashion industry, providing brands with a global reach, offering a personalized and convenient shopping experience, driving innovation and competition, and providing customers with access to valuable reviews and feedback.

 

Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global E-commerce market. Large consumer groups, growing penetration of smartphones and the Internet, and rising disposable income have helped the region emerge as the largest E-commerce market. Also, this region is projected to register the highest CAGR during the forecast period.

 

Some of the key players operating in the E-commerce market are Amazon.com, Inc. (U.S.), Alibaba Group Holding Limited (China), eBay Inc. (U.S.), JD.com, Inc. (Jingdong) (China), Rakuten, Inc. (Japan), The Home Depot, Inc. (U.S.), Zalando SE (Germany), Otto GmbH & Co KG (Germany), Priceline.com (U.S.), B2W Digital Company (Brazil), Groupon, Inc. (U.S.), Walmart Inc. (U.S.), Inter IKEA Systems B.V. (Netherlands), Costco Wholesale Corporation (U.S.), Shopify Inc. (Canada), Wayfair Inc. (U.S.), Suning.com Co., Ltd. (Suning Commerce Group Co., Ltd.) (China), Best Buy Co., Inc. (U.S.), and Tesco plc (U.K.).

 

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“Collagen Market” Worth $8.64 Billion by 2029

 

Nowadays, the demand for protein is increased significantly. Proteins in various food items are used by the human body to create specialized protein molecules that help in the production of haemoglobin (Hb), an important component of the blood that helps carry oxygen to all body parts. It also promotes healthy metabolism. Furthermore, the demand for dietary supplements is growing due to the rising awareness of body weight management among all age groups worldwide. Dietary supplements help lead a healthier life by providing essential nutrients.

 

In nature, collagen is found exclusively in animals, especially in the flesh and connective tissues of mammals. Collagen is a part of the connective tissue in the skin that provides firmness, suppleness, and constant renewal of the skin cells. Collagen is vital for skin elasticity. With aging, the synthesis of collagen in the body reduces, causing weakness, fatigue, aches, pain, and an overall lack of energy. This sparked the need for external collagen supply to the body and led to the inception of the collagen supplement industry. Collagen supplements are intended to uphold a person's skin, hair, nails, and body tissues as metabolites of collagen assemble bone, skin, and ligaments by attracting fibroblasts that generate the synthesis of new collagen. In food, collagen is found mostly in the odd bits and tougher cuts of beef that contain connective tissue. Collagen is a vital component of connective tissue and is the most abundant protein in mammals, making up about 25–35% of the whole-body protein content.

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Collagen and gelatin find their major application in dietary supplements, functional foods, beverages, confectionery, and desserts. It has been widely used as a food additive that improves the organoleptic properties of food products. For instance, using collagen in sausages and frankfurters improves the rheological properties and presence of animal nutritive fibers. In addition, desserts are characterized as sugary products that may not offer many health benefits other than the taste. Therefore, the use of collagen in the powdered form in dessert making improves the nutritional value of the desserts by providing essential protein and an amino acid that benefit in the production of collagen and elastin, resulting in healthier skin, inflammation sleep, and healthy hair growth. Also, trifles, aspic, marshmallows, candy corn, and confections such as peeps, gummy bears, fruit snacks, and jelly babies contain a large amount of gelatin.

 

Despite the recent economic slowdown, the global confectionery market is steadily increasing. This growth is majorly attributed to the growing population and affordability of these confections. In the beverage industry, collagen promotes the body's natural capacity to generate fatty tissues. Generally, collagen drinks claim to stimulate the collagen-making mechanism of the body, which reduces skin wrinkles and sagging of the skin. In Malaysia, various organizations are conducting R&D on collagen drinks. Malaysia Dairy Industries (MDI) has added collagen peptides in their nutritious probiotic drink, where collagen peptides serve as components required to synthesize collagen. In addition, vitamin C was added to the drink as an antioxidant and a vital co-enzyme in the biosynthesis of collagen. As a result, the 'vitagen collagen' drink was created to stimulate the growth of beneficial gut bacteria and radiate beauty from deep in the skin. Collagen is also used in some alcoholic beverages as the triple helix and rod-like structure of collagen is thermally labile and acts as the clarifying agent in cloudy alcoholic beverages by aggregation of the yeast and other insoluble particles. Bovine collagen in the solution form can also be used in beer refining and yeast preparation by chemical modification. Gelatin is used as a clarifying agent in winemaking and some non-alcoholic fruit juices.

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In addition, the application of collagen in meat and fish products is expected to rise in the near future due to the rising production of processed meat and the growing population across the globe. For instance, according to the Worldwatch Institute's Nourishing the Planet Project for Vital Signs Online, worldwide meat production has tripled over the last four decades and increased by 20 percent in the last 10 years. Meanwhile, developed countries are consuming high quantities of meat, nearly double the quantity of developing countries. This mounting meat production is expected to increase the use of collagen for this application in the next few years.

 

Moreover, dairy is one of the major food processing areas in the world. According to the Food and Agriculture Organization (FAO), the global milk output in 2018 was 843 million tons, an increase of 2.2 percent from 2017, driven by production expansions in India, Turkey, the European Union, Pakistan, the U.S., and Argentina. This indicates the availability of a large amount of raw material for milk-based processed products.

 

The growing need to provide dairy products that are easy to prepare, stable over time, low in calories, and contain new textures, tastes, and appearances has led dairy processors to incorporate gelatin. Also, gelatin can be used in various dairy products such as yogurts, cream desserts, mousses, and a variety of low-fat dairy products such as cheese to improve the texture and stability of the product. Gelatin has proved to be an excellent alternative to fat in the milk products such as low-fat milk and yogurt. Gelatin is also used in the aeration and stabilization of the ice cream, which improves low-temperature conservation and prevents the formation of ice crystals during long-term conservation. It also improves ice cream's resistance to temperature variations. Combined with other texturing agents, it gives the ice cream a very characteristic texture and slows the melting of the ice cream in the mouth. While in cheese, spreads, margarine, and low-fat butter, gelatin is used to improve the stability and increase the shelf life of these products. It also aids the mouth feel of the low-fat milk-based products. The growing consumption of dairy products is directly related to the growing population. Also, improved milking technologies and dairy farm management result in increased milk production, which is indeed being used in the processing. Therefore, the application of gelatin in the dairy sector is expected to increase significantly in the next few years.

 

Therefore, the demand for collagen and gelatine is expected to propel in the coming years in the food industry. Over the last decade, there has been a significant rise in the demand for processed food, and the consumption of bakery & confectionery products has grown exponentially.

 

The growing awareness of protein consumption and dietary supplements drives the collagen market for food & beverage applications. These factors are expected to facilitate the overall collagen market during the forecast period, which is slated to register the highest CAGR of 6.9% to reach $8.64 billion by 2029, according to Meticulous Research®.

Collagen Market by Type (Gelatine, Collagen Peptide, and Native Collagen), Source (Porcine, Bovine, Marine, Chicken, and Sheep), and Application (Food & Beverage, Pharmaceuticals, Nutraceuticals, and Healthcare) - Global Forecasts to 2029

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants in the collagen market between last four years. The key players profiled in this collagen market study are Rousselot (Netherlands), GELITA AG (Germany), Weishardt (France), Tessenderlo Group NV (Belgium), Nitta Gelatin Inc. (Japan), Lapi Gelatine S.p.a. (Italy), ITALGEL S.r.l. (Italy), Ewald-Gelatine GmbH (Germany), REINERT GRUPPE Ingredients GmbH (Germany), Trobas Gelatine B.V. (Netherlands), Gelnex (Brazil), Juncà Gelatines SL (Spain), HolistaCollTech Ltd. (Australia), Collagen Solutions Plc (U.K.), and Advanced BioMatrix, Inc. (U.S.).

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