Ottawa, Dec. 22, 2023 (GLOBE NEWSWIRE) -- The global protective packaging market size was valued at USD 30.90 billion in 2023 and the sector is expanding at a CAGR of 4.6% between 2023 and 2032.
The protective packaging market is driven by the growing e-commerce industry, globalization of supply chains, increased sensitivity of products, technological advancements, and rising investment.
Protective packing materials are those that are used to keep a product safe during storage or transportation from possible damage or destruction. Several sectors employ protective packaging, including automotive, appliance, aerospace, electronics, and pharmaceuticals. It describes how different packaging materials are used to safeguard and shield a main product while it is being transported or stored. Protecting transporting products from physical harm is the aim of protective packaging. Due to tumbling, rough handling, and removal from vehicles, packages are susceptible to damage while in transit. When products are transported or stored, protective packaging helps shield them from damage.
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The growing partnership in the industry is expected to propel the market expansion during the projected period. In June 2023, the SYNDIGOTM rPE-0860-FC recycled polyethylene resin from Nova Chemical is used in the production of the Pregis film structure, which meets consumer demand for high-grade, food-safe recycled content solutions without sacrificing functionality. This solution provides consumer packaged goods firms and packaging converters with a mechanically recycled content film that delivers superior safety and quality, surpassing the FDA-LNO (letter of non-objection). A sustainable solution that performs well in terms of film clarity, printability, and processing performance is the result of this collaborative development effort.
- The revolutionary retail-ready packaging solutions from FUTURLINE®, which includes skin packaging, MAP (Modified Atmosphere Packaging), and punnets that are now being implemented in Benelux, France, Germany, Poland, the United Kingdom, and Spain, are the result of a USD 12 million investment made by SOLIDUS SOLUTIONS.
Key Insights:
- The flexible protective packaging segment is expected to dominate the market during the forecast period.
- The paper & paperboard segment is expected to hold a substantial revenue share over the forecast period.
- The wrapping segment held the largest revenue share in 2022 and is expected to continue the same pattern over the forecast period.
- The food & beverages segment is expected to dominate the market over the forecast period.
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Regional Stance
Asia Pacific is expected to hold the largest market share over the forecast period because the area is a key center for manufacturing, including South Korea, Japan, China, and India, there is a high need for protective packaging solutions in the region due to the presence of large producers of industrial spare parts and electronics. The demand for protective packaging in the area has also been fueled by the emergence of retail platforms like Amazon and Alibaba, which have made it necessary to develop solutions for packaging that can survive the rigors of long-distance shipping, product handling, and warehousing. China held the largest market share in the area in 2022 as a result of the healthcare sector's profitable expansion brought about by rising foreign investment and industry reforms.
Furthermore, strict quality and safety requirements for pharmaceuticals and other healthcare products were put in place nationwide by the China Food and Drug Administration (CFDA). The necessity of protective packaging is emphasized to preserve product quality, stop tampering, and guard against elements of the external environment including moisture, light, and oxygen. The need for protective packaging in the nation is driven by the requirements that businesses in the medical and healthcare sectors must follow these regulations.
Protective Packaging Market Scope:
| Report Coverage | Details |
| Market Size in 2022 | USD 29.65 Billion |
| Market Size by 2032 | USD 46.24 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.6% |
| Largest Market | North America |
| Second Largest Market | Europe |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type, By Material, By Function and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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Report Highlights:
Type Insights
The flexible protective packaging segment is expected to dominate the market during the forecast period. Flexible packaging materials are typically lightweight, reducing transportation costs and environmental impact. The cost-effectiveness of flexible materials, along with their ability to reduce packaging waste, is driving their adoption in various industries. Moreover, new materials for flexible packaging are being developed as a result of ongoing research and development. These materials have better barrier qualities, increased resistance to punctures, and longer shelf lives for different products.
For instance, in April 2023, Huhtamaki, a leading global provider of packaging solutions, revolutionized the field by applying science to create ground-breaking mono-material technology. Its cutting-edge and environmentally friendly flexible packaging in Paper, PE, and PP Retort is revolutionary and satisfies the needs of its clients' customers as well.
Material Insights
The paper & paperboard segment is expected to hold a substantial revenue share over the forecast period. The increasing emphasis on sustainability has led to a growing demand for paper-based protective packaging. Paper and paperboard are renewable, biodegradable, and recyclable materials, aligning with consumer preferences for eco-friendly packaging solutions. Additionally, paper and paperboard offer excellent printing capabilities, allowing for customization, branding, and enhanced visual appeal. This is particularly important in industries where product presentation and branding play a crucial role, such as in retail and e-commerce. Thereby, driving the market growth over the forecast period.
Function Insights
The wrapping segment held the largest revenue share in 2022 and is expected to continue the same pattern over the forecast period. The market for protective wrapping has been impacted by the rise of e-commerce, with a focus on solutions that are not only affordable and simple to use but also highly protective. When it comes to safeguarding goods for safe transportation, wrapping materials are essential.
End-Use Insights
The food & beverages segment is expected to dominate the market over the forecast period. Protective packaging for food and beverages often includes materials with barrier properties to prevent the ingress of oxygen, moisture, and other contaminants. This helps extend the shelf life of perishable goods and maintains product freshness. Moreover, growing consumer awareness of environmental issues has led to an increased demand for sustainable packaging solutions in the food and beverage sector. This includes the use of eco-friendly materials, recyclable packaging, and reduced packaging waste. Thereby, driving the market growth.
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Market Dynamics:
Driver
Growing e-commerce industry
The e-commerce industry is expanding rapidly in several nations, including the US, China, India, and the UK. The Internet is becoming more widely used, people are becoming more tech-savvy, and the usage of smartphones is all contributing to the rapid growth of the e-commerce industry.
On the other hand, since online sellers do not have to deal with the physical obstacles that physical retailers face, customers may purchase products more simply and with greater knowledge, which leads to better decision-making. The e-commerce packaging market is directly impacted by the expansion of the e-commerce sector. Throughout the projected period, the expansion of the e-commerce sector will fuel the expansion of the worldwide protective packaging market.
Restraint
Concern over cost and environment
Sometimes the cost of superior protective packaging materials and technology is higher than that of conventional substitutes. Cost issues could discourage companies from adopting cutting-edge protective packaging solutions, particularly in those with narrow profit margins. Furthermore, sustainability may act as a constraint in addition to being a driver. It might be difficult to strike a balance between environmental considerations and the necessity of protective packaging. Certain conventional protective packaging materials could not biodegrade or might even worsen the environment. Thus, hampering the market growth over the forecast period.
Opportunity
Development of sustainable and environmentally favorable packaging materials
The market for environmentally friendly packaging materials has grown as worries about plastic waste and its detrimental effects on the environment have grown. Land, sea, and marine species are all harmed by plastic pollution. These substances eventually make their way up the food chain and affect human health in several ways. To lower the usage of plastics, the government and other stakeholders are promoting the development of environmentally friendly, highly recyclable, and sustainable packaging materials. Bioplastics, seaweed packaging, corrugated bubble wrap packaging, cornstarch, and mushroom packaging are a few examples of such initiatives. Thus, throughout the projection period, market participants will have attractive opportunities to introduce sustainable and eco-friendly packaging materials.
Related Reports:
- Rigid Plastic Packaging Market: The global rigid plastic packaging market size was estimated at USD 175.59 billion in 2022 and is expected to reach around USD 258.65 billion by 2032, growing at a CAGR of 4% from 2023 to 2032.
- Plastic Corrugated Packaging Market: The global plastic corrugated packaging market size was estimated at USD 15.6 billion in 2022 and is projected to reach around USD 35.11 billion by 2032, growing at a CAGR of 8.50% from 2023 to 2032.
- Paper and Paperboard Packaging Market: The global paper and paperboard packaging market size reached USD 421.5 billion in 2022 and is expected to hit around USD 670.38 billion by 2032, growing at a CAGR of 4.80% from 2023 to 2032.
- Packaging Coatings Market: The global packaging coatings market size surpassed USD 4.8 billion in 2022 and is expected to hit around USD 7.86 billion by 2032, poised to grow at a CAGR of 5.1% during the forecast period from 2023 to 2032.
- Packaging Adhesives Market: The global packaging adhesives market size was estimated at USD 14.6 billion in 2022 and is projected to hit around USD 26.52 billion by 2032, registering a CAGR of 6.2% during the forecast period from 2023 to 2032.
Recent Developments:
- In April 2023, an environmentally friendly, recyclable, biodegradable, and plastic-free substitute for conventional plastic bubble rolls, the Geami MS MiniTM wrapping system is now available in North America, according to Ranpak Holdings Corp., a global leader in paper-based packaging solutions for e-commerce and industrial supply chains. For warehouse packing stations, where space is limited and efficiency is crucial, Geami MS Mini is the ideal replacement.
Market Key Players:
- Smurfit Kappa Group Plc.
- Pregis LLC
- Sealed Air Corporation
- WestRock Company
- Huhtamaki OYJ
- DS Smith Plc
- Sonoco Products Company
- Dow Chemical Company
- Pro-Pac Packaging Limited
- International Paper Company
- Storopack Hans Reichenecker Gmbh
- Intertape Polymer Group (IPG)
Market Segmentation
By Type
- Rigid Protective Packaging
- Flexible Protective Packaging
- Foam Protective Packaging
By Material
- Foam Plastics
- Paper & Paperboard
- Plastics
- Others
By Function
- Cushioning
- Blocking & Bracing
- Void Fill
- Insulation
- Wrapping
By End-Use
- Food & Beverage
- Industrial Goods
- Healthcare
- Automotive
- Consumer Electronics
- Household Appliances
- Others
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