Technavio analyzes that the Containers Market is expected to grow at a CAGR of 9.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 403 billion.There are various factors that contribute to the growth of the market. The global expansion of e-commerce is driving significant growth in the Containers Market. With the increase in cross-border trade and the need for secure and efficient transportation of goods, containers have become an essential component in the e-commerce supply chain. The market is expected to grow at a steady pace due to the rising demand for cost-effective and flexible logistics solutions in the e-commerce sector. The use of advanced technologies such as IoT and RFID in containers is further enhancing their value proposition by enabling real-time tracking and monitoring of goods in transit.
The global shipping container market experiences substantial adoption of plastic materials, particularly in sectors such as food and beverage, personal care, and pharmaceuticals. Plastic containers, including bottles and jars, are preferred for their lightweight properties and resistance to breakage in transporting consumable goods like soft drinks, sauces, and snacks. This material ensures product preservation and shelf life extension. In personal care, plastic packaging is favored due to its durability and resistance to damage during transportation and use for products such as shampoos and lotions. Moreover, plastic containers play a pivotal role in the pharmaceutical industry, providing secure storage for medicines and supplements. The e-commerce sector's growth has further fueled the demand for plastic containers in marine transportation and container handling for efficient and safe product delivery.
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Containers Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Container market is undergoing a digital transformation, with a focus on energy-efficient procedures and eco-friendly materials. Supply chain management is being revolutionized through blockchain technology and IoT, enabling real-time tracking and automation. Autonomous shipping and smart sensors are addressing port congestion and cargo handling challenges. Geopolitical tensions and container standardization are key factors influencing freight costs. The shipping industry is expanding its fleet with large, intermodal containers, driven by affordability and sustainability initiatives. E-commerce growth and the maritime shipping sector's digitalization are also impacting the container transportation market. The shipping environment is adapting to ice-breaking cargo ships and the cruise ship business, offering innovative solutions to meet evolving customer needs.
The containers market encompasses metal, glass, and plastic segments, each with intricate supply chains. Raw material procurement is a crucial aspect, involving suppliers of steel, aluminum, tin for metals; borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, and regular soda-lime glass for glass; and HDPE, LDPE, PET, PP, and PVC for plastics. Innovations like energy-efficient procedures, eco-friendly materials, IoT, blockchain technology, and autonomous shipping are revolutionizing the industry, enhancing supply chain management and sustainability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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