New York, United States , Nov. 08, 2023 (GLOBE NEWSWIRE) -- The Global Protective Packaging Market Size is to Grow from USD 32.45 Billion in 2022 to USD 54.39 Billion by 2032, at a Compound Annual Growth Rate CAGR of 5.3% during the forecast period.
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Protective packaging is a crucial element in ensuring the safe transportation, storage, and handling of products. It involves the use of various materials like foam, bubble wrap, and corrugated cardboard to create a barrier that protects items from damage or breakage. By providing cushioning, shock absorption, and resistance against external factors, such as moisture and temperature fluctuations, protective packaging safeguards goods from potential hazards. It is extensively employed across industries like electronics, pharmaceuticals, automotive, and e-commerce to secure delicate or fragile items, reducing the risk of returns or replacements, enhancing customer satisfaction, and minimizing waste. Ultimately, protective packaging plays a vital role in maintaining product integrity and ensuring that goods reach their intended destinations in optimal condition.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the Global Protective Packaging Market Size,Share, and COVID-19 Impact Analysis, By Type (Flexible Protective Packaging, Foam Protective Packaging, and Rigid Protective Packaging), By Material (Paper & Paperboard, Plastic Foams, Plastic, and Others), By Function (Void Fill, Wrapping, Insulation, Blocking & Bracing, and Cushioning), By End-Use (Food & Beverage, Industrial Goods, Consumer Electronics, Household Appliances, Healthcare, Automotive, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
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The plastic foams segment is expected to grow at a CAGR of around 5.4% during the forecast period
Based on the material, the global protective packaging market is segmented into paper & paperboard, plastic foams, plastic, and others. The plastic foams segment is anticipated to experience substantial growth during the forecast period in the protective packaging industry. Plastic foams offer excellent cushioning properties, shock absorption, and impact resistance, making them ideal for protecting delicate and fragile products. They provide a lightweight and cost-effective solution while maintaining high levels of protection. Additionally, the increasing demand for eco-friendly and sustainable packaging materials has led to the development of biodegradable and recyclable plastic foams, further driving their growth. The versatility and versatility of plastic foams make them well-suited for various industries, including electronics, automotive, and e-commerce, contributing to their projected expansion in the protective packaging market.
The wrapping segment held the largest market share with more than 34.7% in 2022
Based on the function, the global protective packaging market is segmented into void fill, wrapping, insulation, blocking & bracing, and cushioning. The wrapping segment has emerged as the dominant contributor to the largest market share in the protective packaging industry. This can be attributed to the widespread use of wrapping materials such as films, foils, and papers in various industries. Wrapping provides a versatile and cost-effective solution for protecting products from dust, moisture, and scratches during storage, transportation, and display. It offers flexibility, ease of use, and customization options, making it suitable for a wide range of products. The wrapping segment's market dominance reflects its reliability, efficiency, and ability to meet the protective packaging needs of different industries.
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North America is predicted to grow at a significant CAGR of around 5.6% over the projected period
Based on region, North America is projected to experience rapid growth in the protective packaging market during the forecast period. This growth can be attributed to the thriving e-commerce industry in the region, coupled with the increasing trend of online shopping, is driving the demand for protective packaging solutions. The stringent regulations pertaining to product safety and transportation standards are encouraging businesses to invest in advanced protective packaging to meet compliance requirements. Additionally, the growing focus on sustainable packaging practices and the adoption of eco-friendly materials in North America are boosting the demand for innovative protective packaging solutions. Moreover, the expanding industries such as pharmaceuticals, electronics, and food and beverage are further fueling the growth of the protective packaging market in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global protective packaging market include Sealed Air Corporation, Sonoco Products Company, Smurfit Kappa Group PLC., WestRock Company, Huhtamaki OYJ, DS Smith PLC, Pregis LLC, Pro-Pac Packaging Limited, Dow Chemical Company, Intertape Polymer Group, Storopack Hans Reichenecker Gmbh, International Paper Company, EcoEnclose, Point Five Packaging, and Universal Protective Packaging, Inc. and Others.
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Recent Developments
In February 2023, Smurfit Kappa has unveiled Vitop Uni taps, a new addition to its bag-in-box product line up. These taps offer an extra layer of security, safeguarding the packaging against tampering throughout its journey to final distribution. The launch of Vitop Uni taps demonstrates Smurfit Kappa's commitment to enhancing the protection and integrity of their bag-in-box packaging solutions. This innovation ensures that products remain secure and tamper-free until they reach the end consumer
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global protective packaging market based on the below-mentioned segments:
Protective Packaging Market, By Type
- Flexible Protective Packaging
- Foam Protective Packaging
- Rigid Protective Packaging
Protective Packaging Market, By Material
- Paper & Paperboard
- Plastic Foams
- Plastic
- Others
Protective Packaging Market, By Function
- Void Fill
- Wrapping
- Insulation
- Blocking & Bracing
- Cushioning
Protective Packaging Market, By End-Use
- Food & Beverage
- Industrial Goods
- Consumer Electronics
- Household Appliances
- Healthcare
- Automotive
- Others
Protective Packaging Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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