Global Transit Packaging Market 2016-2020

Overview of the global transit packaging market

According to the market research analysts at Technavio, the global transit packaging market is predicted to grow at a CAGR of around 4% during the forecast period.  Surge in trade activities and the high demand from various end-user industries have complicated transit packaging management, which has led to the increased demand for efficient fleet management. The adoption of fleet management systems will help in managing fleet sizes, tracking and cleaning containers, and maintenance activities resulting in the effective and safe transportation of goods. These systems take care of issues related to container distribution and repositioning of empty containers, and help in improving operational efficiency, minimizing risk, and controlling cost. The growing safety for products while transportation has necessitated the use of corrugated boxes in the transit packaging market as they are more sustainable for the environment and can also be easily recycled.

APAC is the largest and the fastest-growing region in the transit packaging market and is anticipated to grow at a CAGR of around 5% during the forecast period. Strong production activities in economies such as China and India have propelled the demand for transit packaging in the region. Food and beverage sector is the major application area for transit packaging in the region owing to the high production of horticulture products. Factors such as urbanization, industrialization and surge in international trade will propel the demand for transit packaging in APAC. Also, the robust growth of e-commerce will propel the demand for transit packaging products in countries like China, Indonesia, Japan, and Australia.

Competitive landscape and key vendors