WASHINGTON, April 19, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Protective Packaging Market finds that rising e-commerce industry as well as manufacturing activities along with increasing demand for packed foods, consumer durables, consumer electronics and others are factors that influencing the growth of Protective Packaging Market.
The total Global Protective Packaging Market is estimated to reach USD 39.78 Billion by 2028.
The market stood at a revenue of USD 29.18 Billion in the year 2021, and expected to grow at a Compound Annual Growth Rate (CAGR) of 5.3%, states Vantage Market Research, in a report, titled “Protective Packaging Market Size, Share & Trends Analysis Report 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), by Application (Food & Beverage, Industrial Goods, Healthcare, Automotive), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Market Dynamics:
Drivers:
Consistently Growing Population and Resulting Preference for Packaged Food and Rising E-Commerce Industry
Globally population is increasing at its unprecedented level, and need for food is also increasing in similar manner. Owing to increasing population and changing busy lifestyle, is increasing the adoption of packed foods. In turn: increasing the demand for protective packaging materials thereby offering scope for the Protective Packaging Market. Additionally, increasing regulation regarding environmental safety is increasing the demand for bio degradable packaging materials.
Since past few years, E-Commerce industry has witnessed significant growth. The changing trend to online shopping is increasing. Thus, the demand for protective packaging materials is increasing further propelling the market growth over the forecast period.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Protective Packaging market is predicted to grow at a CAGR of roughly 5.3% during the forecast period.
- The Protective Packaging market was estimated to be worth roughly USD 29.18 Billion in 2021 and is expected to reach USD 39.78 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Protective Packaging market.
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Rising Demand for Protective Packaging Materials from Healthcare and Consumer Electronics Industry
Since past few decade, consumer electronics industry has witnessed significant growth. Now a days, the trend is changing to online shopping. This is owing to busy lifestyles, availability if several options of products, several bonuses and discount facilities. These factors are motivating population for online shopping. Thus, along with increase in online shopping trend, the product safety is the major concern. Thus, safe and protective packaging is required which is increasing the demand for protective packaging materials further propelling the market growth over the forecast period.
Additionally, since COVID-19 outbreak the demand for pharmaceuticals and other healthcare products has increased drastically and increasing with each passing day. Thus, in turn; increasing the demand for protective packaging materials further propelling the market growth over the forecast period.
Segmentation of the Global Protective Packaging Market -
- Type
- Rigid Protective Packaging
- Flexible Protective Packaging
- Foam Protective Packaging
- Material
- Foam Plastics
- Paper & Paperboard
- Plastics
- Others
- Function
- Cushioning
- Blocking & Bracing
- Void Fill
- Insulation
- Wrapping
- Application
- Food & Beverage
- Industrial Goods
- Healthcare
- Automotive
- Cushioning
- Household Appliances
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Protective Packaging Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
Asia Pacific Holds Maximum Market Share
Asia Pacific is expected to dominate the growth of Protective Packaging Market in 2021. The major driving factors for the market are presence of emerging economies in the region. Additionally, presence of one of the most populated countries in the world such as China and India is offering the opportunity for the market. Moreover, growing e-retail sales as well as growing manufacturing activities and increasing disposable income is further propelling the market growth over the forecast period.
List of Prominent Players in the Protective Packaging Market:
- Sealed Air Corporation
- Crown Holdings Inc
- Sonoco Products Company
- Win pack Ltd
- Smurfit Kappa Group
- DS Smith Plc
- WestRock Company
- Schur Flexibles Holding GesmbH
- Greif
- International Paper Company
- Nefab Group
- Cascades Inc
Browse market data Tables and Figures spread through 172 Pages and in-depth TOC on "Protective Packaging Market Size, Share & Trends Analysis Report 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), by Application (Food & Beverage, Industrial Goods, Healthcare, Automotive), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/protective-packaging-market-979918
Recent Developments:
April 2021: Align Technology and DECA Dental Group, which has over 100 affiliated dental practices in the U.S., extended their partnership by signing an agreement for Invisalign systems till the end of 2025.
July 2021: Smurfit Kappa acquired Cartonbox, a folding carton company located in Monterrey, in the North-East of Mexico. This will help the company in strengthening its participation in the paper packaging solutions business in Mexico and expand its footprint to four folding carton locations in the country.
August 2020: Sealed Air Corporation announced that it had signed a collaboration agreement with Plastic Energy, an industry-leading company in advanced recycling technology. Additionally, Sealed Air has made an equity investment in Plastic Energy Global, the parent company of Plastic Energy.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Protective Packaging Market?
- How will the Protective Packaging Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Protective Packaging Market?
- What is the Protective Packaging market drivers and restrictions?
- What will be the CAGR and size of the Protective Packaging Market throughout the forecast period?
This market titled “Protective Packaging Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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