Dublin, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Protective Packaging Market - Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global protective packaging market is poised for substantial growth, projected to reach $43.26 billion by 2028, up from $30.12 billion in 2022, with a robust CAGR of 6.22% during the forecast period from 2022 to 2028. This surge is attributed to various market trends and drivers.
MARKET TRENDS & DRIVERS
Growing E-commerce Industry
The rapid expansion of the global e-commerce sector, particularly during the COVID-19 pandemic, has led to a significant increase in e-commerce sales. This surge has created a substantial demand for secure and efficient protective packaging across various industries, including Food & Beverage, pet food, and healthcare.
A seamless consumer experience is paramount for brand reputation and loyalty, thus propelling the protective packaging market's growth. In response to different demands online, manufacturers and retailers have adopted diverse packaging formats and branding. Lightweight and protective packaging offer sustainable advantages while facilitating an efficient supply chain by enabling easier distribution of goods.
Increasing Demand from the Healthcare Industry
The pharmaceutical sector is a major end-user of protective packaging, employing products like blister plastic films, aluminum foils, and pouches. Blister packaging, which is replacing glass and rigid plastics, is gaining widespread adoption. Materials such as paper and plastic films are commonly used in blister packs, with aluminum foil being used due to its barrier properties, albeit at a higher cost.
Compliance with FDA regulations regarding packaging materials is crucial in the pharmaceutical packaging market, especially in North America, which holds a substantial share of the global pharma market. The need to comply with FDA norms concerning packaging materials drives the pharmaceutical packaging market.
INDUSTRY RESTRAINTS
Recycling Challenges with Protective Packaging Products
Recycling protective pouches and similar products presents significant challenges and is often not economically viable due to the complex processes involved. Multilayer films, which include paper, foil, and plastic combinations, pose additional difficulties in recycling.
Unlike rigid plastic products, recycled protective packaging cannot be used for pharmaceutical and food packaging per FDA regulations, but they can find use in other applications. End-users typically demand high-quality recycled materials while disposing of or sending low-quality materials to energy recovery centers. The recycled material can be used for other applications.
INSIGHTS BY MATERIAL
Protective Plastic Dominates
Protective plastic materials hold the largest market share in the global protective packaging market. Protective plastic pouches are environmentally advantageous, consuming 60% less plastic than rigid packaging and requiring less energy for production, resulting in lower emissions.
These pouches can enhance barrier properties using various substrates and manufacturing methods. Multilayer and multi-material protective packaging are prominent, with protective plastics leading in volume consumption compared to protective paper and foil.
Segmentation by Material
- Protective Plastic
- Protective Paper
- Protective Foil
INSIGHTS BY TYPE
Flexible Protective Packaging Takes the Lead
Flexible protective packaging is poised to dominate the market during the forecast period. It encompasses a range of materials like paperboard, plastic, foil, wax-coated paperboard, and paper, used in applications such as personal care, pet food, and healthcare.
Various types of flexible packaging, including re-closable plastic bags and poly woven bags, cater to different needs, focusing on product protection, packaging design, consumer convenience, performance, and sustainability.
Segmentation by Type
- Flexible Protective Packaging
- Foam Protective Packaging
- Rigid Protective Packaging
INSIGHTS BY APPLICATION
Consumer Packaging Leads the Way
The consumer packaging segment claimed the largest market share in 2022, driven by increased consumption. Products like pouches, blister packs, and strip packs are major categories serving the consumer market and retail stores. While industrial packaging, including FIBCs, stretch, and shrink films, contributes to the market, consumer packaging is expected to grow faster, particularly in non-food and beverage industries.
Segmentation by Application
- Consumer Packaging
- Industrial Packaging
- Healthcare
- Personal Care
GEOGRAPHICAL ANALYSIS
APAC, Europe, and North America Dominate
APAC, Europe, and North America collectively held over 79.25% of the market share in 2022. APAC is volume-driven, with a growing retail landscape and organized packaging growth. North America and Europe lead in adopting advanced packaging technologies and equipment and are quick to embrace new trends.
Segmentation By Geography
APAC
- China
- India
- Australia
- Japan
- South Korea
- New Zealand
Europe
- Germany
- France
- UK
- Italy
- Benelux
- Spain
- Rest of Europe
North America
- US
- Canada
Latin America
- Mexico
- Brazil
- Argentina
- Chile
Middle East & Africa
- Turkey
- Egypt
- Saudi Arabia
- South Africa
- UAE
COMPETITIVE LANDSCAPE
Small and medium-sized enterprises play a significant role in the protective packaging market, with larger players adopting inorganic growth strategies to expand their operations. Smaller vendors focus on customization, as competition is primarily based on features and price in niche segments with lower volumes.
Key Company Profiles
- Smurfit Kappa
- Sealed Air
- Sonoco
- Huhtamaki
- Amcor
- Berry Global
- Mondi
- TC Transcontinental
- Constantia Protectives
- Ahlstrom
- Greif
- WestRock
- Alu Flex Pack
- Aptar Group
- And many others
Other Prominent Vendors
- Alinvest
- Aran Group
- Aluberg
- American Packaging Corporation
- Bischof+Klein
- Bioplast
- Carcano
- Danaflex
- Printpack
- ProAmpac
- Wipak Group
- Saica
- Etapak
- Innovia Films
- Uflex
- International Paper
- Reynolds Group
- Novolex
- Sigma Plastics
- Glenroy
- Symetal
- Krajcar Pack
- ITP
- Gascogne Protective
- Schur Protectives
- Schmid and Folien
- RKW
- Pouch Partners
- Perlen Packaging
- Goglio Packaging
- Kleiner Protective Packaging
- Winpak
- Stora Enso
- Global-Pak
- Di Mauro
- Eurofoil
- Gerosa Group
- LEEB Protectives
- Polypak Packaging
- PPG
- Walki
- All4Labels
- SIG Combibloc Group
- Ringmetall SE
- The Reflex Group
- Dazpak Protective Packaging
KEY QUESTIONS ANSWERED
- How big is the protective packaging market?
- What is the growth rate of the global protective packaging market?
- What are the growing trends in the protective packaging industry?
- Which region holds the most significant global protective packaging market share?
- Who are the key players in the global protective packaging market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 378 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $30.12 Billion |
| Forecasted Market Value (USD) by 2028 | $43.26 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/9n6acm
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