New York, USA, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Protective Packaging Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Protective Packaging Market Information By Product Type, Material, Application, Function and Region - Forecast till 2028”, the market is estimated to grow at a 6.9% CAGR to reach USD 46.4 billion by 2028.
Market Scope:
Items are protected from physical or environmental harm during transport and storage with the help of protective packaging. Less product damage means happier customers, and that's why we use these packing materials. Many varieties of protective packaging materials exist, each with its own set of advantages for particular products. Packing peanuts, cushioned divider sets, bubble bags, packing foam, air pillows, and packing paper are the most often used packaging materials.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 46.4 Billion |
| CAGR | 6.9% (2021–2028) |
| Base Year | 2020 |
| Forecast Period | 2021–2028 |
| Historical Data | 2019 |
| Forecast Units | Value (Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Material, Application, Function and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rising demand for consumer goods with the growing disposable income of people is the major factor |
| The exponential growth of e-commerce companies has increased the demand for protective packaging by several manifolds. |
Competitive Dynamics:
The major global companies playing a key role in the protective packaging market are:
- America (U.S.)
- Max Packaging (India)
- Springpack (U.K)
- Sealed Air Corporation (U.S.)
- Protective Packaging Solutions (U.S.)
- Smurfit Kappa Group (U.K)
- Pregis Corporation (U.S.)
- ACH Foam Technologies LLC (U.S.)
- Bayer AG ( Germany )
- FP International (U.S.)
- BASF SE Germany,
- Macfarlane Group (U.K)
- Universal Protective Packaging (U.S.)
- Unisource Worldwide (U.S.)
- Cellofoam North America Incorporated (U.S.)
- Ecovative Design LLC (U.S.).
Market USP:
Market Drivers
Large quantities of sturdy packaging are in high demand because to the proliferation of online retailers and the rising popularity of home delivery. The introduction of environmentally friendly protective packaging materials and the expansion of the packaging sector are factors that will drive the expansion of the market.
The increasing demand for consumer goods is the primary driver fueling the expansion of the worldwide protective packaging industry. Manufacturers have a high demand for protective packaging materials due to their critical role in ensuring the safety of products and the happiness of end users. Additionally, the demand for secure packaging has skyrocketed due to the rising number of online retailers.
Market prospects for protective packaging are improving as a result of technological developments in the packaging and labeling industry. The creation of protective packaging materials that are both inexpensive and environmentally benign, such as those made from agricultural waste, will have a favorable effect on the market.
The increased preference for paper-based choices is another element that contributes to the need for protective packaging. Major package companies, particularly those working with paper, are making steady strides to expand their sustainable packaging product line and so lessen the environmental impact of their products.
Market Restraints
One of the primary issues restraining market expansion is the rising environmental concerns regarding the sustainability and recyclability of plastic-based protective packaging materials. One further factor that could slow the expansion of the global protective packaging market is the high manufacturing cost of certain packaging materials.
Browse In-depth Market Research Report (115 Pages) on Protective Packaging: https://www.marketresearchfuture.com/reports/protective-packaging-market-1320
COVID-19 Analysis:
The global market for protective packaging was affected in a variety of ways by Covid-19. The demand for protective packaging materials fell alongside the demand for major consumer goods as the economy slowed. In addition, the market supply was disrupted since packaging factories were shut down to prevent the spread of the virus. The supply chain was also thrown off by the restrictions placed on people and things being able to travel and move around.
Online e-commerce sales, however, have skyrocketed, making them a major source of demand for safe packaging options. After the worldwide easing of restrictions, the market is forecast to quickly rebound.
Market Segmentation:
organized based on the nature of the entity being described
Around 60% of the worldwide protective packaging market is occupied by flexible packaging. There is a lower production cost and minimal effort required to install flexible packaging. The market for flexible protective packaging is expected to grow as more recyclable and bio-based options become available.
By material
The material segment of the global protective packaging market is dominated by plastic. Plastics are a market leader due to their many useful features. Protective plastic packing materials last a long time, are cheap, are lightweight, are airtight, and are chemically inert.
by function
Due to the high demand for void filling materials, this market subsegment currently holds the largest share. Products may be given additional protection and insulation from the elements thanks to these materials.
Application
The most common final market for protective packaging is the food and beverage industry. Produce, such fruits and vegetables, are especially vulnerable to physical damage when being transported. As a result, the demand for sturdy packaging is particularly significant in this sector. Nonetheless, rising demand for consumer electronics has given this sector a sizable slice of the market.
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Regional Analysis:
The market for such packaging is largest in Asia and the Pacific. This area is quickly becoming the world's leading producer of a wide variety of products that necessitate the use of packaging materials. Moreover, with the region's rapid economic development comes a rise in demand for consumer items. A further factor contributing to the growth of the protective packaging industry is the prevalence of e-commerce businesses.
The market for such secure packaging is likewise sizable in North America. High demand for packaging materials is a direct result of the widespread consumption of food and drink sold in containers. In addition, there is a larger concentration of firms here that specialize in the production of protective packaging, allowing local producers convenient access to those materials.
Next to North America, Europe accounts for the third highest market share worldwide. The industry is expanding because of the region's increasing demand for packaged goods, especially those packed in eco-friendly materials. Over the projection period, the LAMEA region is anticipated to increase at a moderate rate.
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