Packworld reports that in 2018, the world produced about $36 trillion worth of manufactured goods, almost all of which was packaged, protected, and shipped in some form of industrial packaging. These industrial packaging products are key to the safe, efficient, and economical transport of manufactured goods in local, regional, and global commerce. In Smithers’ latest market report, "The Future of Industrial Packaging to 2024," it forecasts steady growth in demand for industrial packaging across the next five years, with market value rising from $56.2 billion in 2019 at a CAGR of 3.3% to reach $66 billion in 2024.
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