Protective Packaging Market is Expected to Grow at 6.9% CAGR During the Forecast Period by 2028
Research Reports
Dec 13, 2022
The global protective packaging market is expected to be worth USD 46.4 billion by the end of the current forecast period in 2028
The key element that is driving the expansion of the worldwide protective packaging market is the rising demand for consumer products that are occurring concurrently with an increase in people’s disposable income. Because protective packaging plays such an important part in ensuring the safety of the products and contributing to increased levels of consumer satisfaction, the demand for these materials is quite high among manufacturers. In addition, the meteoric rise of e-commerce businesses has resulted in a need for protective packaging that has multiplied by several orders of magnitude.
The packaging and labeling business is now through a period of rapid technological improvement, which is producing good market prospects for protective packaging. The creation of protective packaging materials that are both inexpensive and kind to the environment, such as those made from materials derived from agricultural waste, is going to have a favorable influence on the market.
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Regional Evaluation:
The market for protective packaging materials in Asia and the Pacific is the largest in the area. This area is quickly becoming the most important industrial hub in the world for a wide variety of products that need protective packaging. In addition, growth in the demand for consumer products can be attributed to the tremendous economic development that has taken place in this region. In addition to this, the growing prevalence of businesses involved in e-commerce is also contributing considerably to the expansion of the market for protective packaging.
The market for protective packaging is also large in North America. The rising demand for packaged commodities, such as food and drinks, results in a significant need for packaging that offers some level of protection. This region also has a stronger presence of enterprises that create protective packaging, which enables manufacturers in the region to have convenient access to the materials they need.
Market Segmentation:
Market segmentation for protective packaging, by kind
About 60% of the market share of protective packaging sold worldwide is made up of flexible packaging. Flexible packaging materials are inexpensive to produce and simple to erect. The market for flexible protective packaging materials will grow as recyclable and bio-based packaging materials become more popular.
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Market segmentation for protective packaging, by material
The global market for protective packaging is dominated by plastic. Plastics are an unstoppable competitor in the market thanks to their advantageous features. Plastic protective packaging materials are resilient, affordable, light, impermeable, and chemically less reactive.
Market segmentation for protective packaging, by function
Due to the significant need for void-filling materials, the void-filling category commands a significant market share. These materials could additionally insulate and cushion the items.
Market segmentation for protective packaging, by application
The most significant end-user of protective packaging is the food and beverage industry. Fruits and vegetables, among other food items, are extremely vulnerable to physical harm when being transported.
Key Players:
Companies such as America (United States), Max Packaging (India), Springpack (United Kingdom), Sealed Air Corporation (United States), Protective Packaging Solutions (United States), Smurfit Kappa Group (United Kingdom), Pregis Corporation (United States), ACH Foam Technologies LLC (United States), Bayer AG Germany, FP International (United States), BASF SE Germany, Macfarlane Group (United Kingdom), Universal Protective Packaging (Un (U.S.).
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