Protective Packaging Market Size to Surpass USD 45.1 BN by 2032

The global protective packaging market size is anticipated to surpass around USD 45.1 billion by 2032 from valued at USD 26.4 billion in 2022 with CAGR of 5.5% from 2023 to 2032, says Precedence Research.


Ottawa, March 13, 2023 (GLOBE NEWSWIRE) -- The rapid development of the e-commerce sector and the expansion of the manufacturing sector are the main drivers of the protective packaging market. Additionally, the growing popularity of online purchasing spurs the expansion of the ecommerce sector as a whole, which in turn helps the market expand. Additionally, the use of recyclable materials is anticipated to support market growth, which will increase investments in R&D efforts.

Key Takeaway:

  • The plastic packaging segment has held 51% revenue share in 2022.
  • The U.S. protective packaging market is growing at a CAGR of 4.4% from 2023 to 2032.
  • The flexible protective packaging market is growing at a CAGR of 5.2% from 2023 to 2032.
  • Void fill segment has generated 26% revenue share in 2022.

Get the sample pages of report@ https://www.precedenceresearch.com/sample/2679

Market Overview

Protective packaging is created and intended to shield products from harm, from air, magnetic fields, static electricity, vibration, and collision. Examples of remedies include materials, boxes, liners, storage receptacles, and spacers. A product may be harmed while being transported or kept by the weather, vibration damping, electrical insulation, waterproofing, humidity, and combustion. The kind of product being wrapped and the surrounding environmental conditions primarily decide the proper protective packing. Consumers all over the world are increasingly concerned about food safety. Because of this, there is now more demand for better packaging options. In addition, changing lifestyles, and increased consumer knowledge of the health risks associated with eating contaminated food are some of the key factors fueling the growth of the global protective packaging market. New products with improved contamination protection have been introduced as a result of technological developments in the packaging industry.

Furthermore, the adoption of protective packaging solutions has grown as a result of strict government regulations regarding food safety in various regions. These elements have helped the global protective packaging market to expand. People are spending more money on their houses and other lifestyle items as their disposable incomes rise. Because of this, they are choosing more frequently strong, long-lasting products that can endure damage. This pattern is probably to continue over the forecast period.

Report Highlights

The North America region is anticipated to expand at a significant CAGR over the course of the projected period. Due to the high demand for packaged goods, particularly food and drinks, protective packaging is in high demand. Additionally, this region has more businesses that create protective packaging, giving manufacturers easy access to these supplies.

By Material Type, the market segment for foam plastics materials retained the largest share. Due to its small size, excellent thermal shielding, and shock absorption, it has a large market share and is perfect for protective packaging.

Due to its recyclable and reusable characteristics, the paper and paperboard segment is expected to expand significantly over the forecast period. For instance, Smurfit Kappa introduced a new packaging system for its environmentally friendly TopClip product in February 2021. TopClip is a paper-based alternative to plastic shrinkwraps that bundle drinks multi-packs. This packaging method is suitable for beverage companies of all kinds but is intended for smaller businesses and trademarks.

By Product Type, the foam protective packaging segment maintained its dominance of the global market despite fierce rivalry from the flexible and rigid segments, due to established manufacturing end-use markets. Expanded polyurethane foams, loose fills, foam in position polyurethane, and moulded foams are examples of foam products.

By Function, it is anticipated that cushioning will have the largest market share during the projection era as cushioning protects delicate and lightweight products from breaking during transit and storage. Additionally, it restricts the product's mobility and guards against damage brought on by shock and vibration during transit.

The most significant market section is wrapping, which offers a complete and portable solution to safeguard goods during maintenance, transportation, or preservation. As a type of product packing, it has developed into a crucial element of business strategies like sales and marketing because it helps to avoid product damage and lower losses and returns.

By End Use, the biggest market share during the forecast period was held by industrial goods. These products are extensively used in numerous end-use industries, such as the automotive, aerospace, pharmaceutical, and consumer electronics industries. It is widely used as a main or secondary filler, depending on the final application. The effects of receiving a broken product must be taken into account when discussing the customer experience in the e-commerce sector.

Ask here for customization study@ https://www.precedenceresearch.com/customization/2679

Scope of the report

Report CoverageDetails
Market Size in 2032USD 45.1 Billion
CAGR5.5% from 2023 to 2032
Fastest Growing RegionAsia Pacific
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 Application
  • Food & Beverage
  • Industrial Goods
  • Healthcare
  • Automotive
  • Cushioning
  • Household Appliances
  • Others
By Region
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa
Key PlayersSmurfit KAPPA Group, Sealed Air Corporation, Westrock Company, Huhtamaki OYJ, DS Smith PLC, Pregis LLC, Sonoco Products Company, Storopack Hans Reichenecker Gmbh, The DOW Chemical Company, Pro-Pac Packaging Limited, Cascades Corporation and Others

Market Dynamics

Driver: Rising demand for protective packaging materials from healthcare and consumer electronics industry

The consumer goods sector has expanded significantly over the last few years. Today, internet shopping is becoming more and more popular. This is a result of busy lifestyles, the availability of a wide range of products, numerous bonuses, and discount choices. These reasons are encouraging people to shop online. Therefore, the primary worry is the safety of the products, along with the growing trend of online shopping. This increased need for safe and protective packaging is fueling the market's development over the forecast period by increasing the demand for protective packaging materials.

Furthermore, since the COVID-19 outbreak, the demand for pharmaceuticals and other healthcare goods has grown significantly and is continuing to do so. Consequently, rising protective packing material demand will continue to fuel market expansion over the forecast period.

Restraint: Environmental concerns

Environmental concerns can be a restraint on the protective packaging market. This is because many consumers and businesses are becoming increasingly aware of the impact of packaging on the environment are looking for more sustainable packaging solutions. Protective packaging, such as bubble wrap and foam, is often made from materials that are not easily recyclable, such as polystyrene. This means that they can contribute to waste and pollution, particularly when they are not disposed of properly. Additionally, the production of these materials can also have a negative impact on the environment, as it often involves the use of non-renewable resources and can generate greenhouse gas emissions. As a result, businesses that use protective packaging may face pressure from consumers and regulatory bodies to switch to more sustainable alternatives. This can be challenging, as finding suitable alternatives may be difficult, particularly if the product being shipped requires a high level of protection. Moreover, sustainable packaging solutions may be more expensive or less effective than traditional protective packaging, which can create a trade-off between environmental concerns and the need to protect products during shipping and storage.

Opportunity: Technological advancements

Technological advancements, such as automation and digital printing, are transforming the protective packaging industry. These advancements can improve the efficiency and effectiveness of the manufacturing process, allowing companies to produce high-quality packaging at a lower cost.

Challenge: Sustainability and efficiency

Unwanted air may be conveyed as a result of over boxing and wasteful utilization of space brought on by a lack of configurable boxing options. Due to more effective box container capacity, more products can be shipped in a single load, which lowers greenhouse gas emissions from needless excess weight and transportation. Open communication between brands' suppliers, manufacturers, and distributors can help this system-wide optimization and save transportation costs as well.

In addition to sourcing and end-of-life considerations, volume and weight optimization are crucial sustainability aspects for protective packaging. Materials with advantageous sourcing characteristics include recycled materials and renewable resources that are responsibly sourced. Favorable packaging is defined as being reusable, recyclable (with access to collection and an end market), or biodegradable (where access to collection and an end market are available).

Related Reports

Recent Developments

  • In November 2022, by building a protective packaging manufacturing facility in Bursa, Turkey, Sonoco Products Company stated that it would be extending its Sonopost Cornerpost manufacturing activities in Europe.
  • In July 2022, the Sealed Air Corporation introduced their recyclable BUBBLE WRAP brand paper bubble mailer.
  • In May 2022, Smurfit Kappa Group plc created AquaStop, a novel and sustainable water-resistant paper. The coating of AquaStop makes sure that its recyclable features are not compromised.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2679

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com  | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

For Latest Update Follow Us:

https://www.linkedin.com/company/precedence-research/

https://www.facebook.com/precedenceresearch/

https://twitter.com/Precedence_R