The North America Protective Packaging Market would witness market growth of 4.9% CAGR during the forecast period (2022-2028).
Manufacturers save a sizable amount of capital due to the prompt and efficient delivery of both industrial and non-industrial items to end customers. By delivering greater protection through packaging, protective packaging methods are performing a critical role in transportation and logistics. One of the key elements driving the increase in the market's sales of protective packaging solutions is the growing emphasis on cost-effective and effective delivery of goods.
A further aspect supporting the need for protective packaging is consumers' increasing preference for products made of paper. Renowned packaging companies, particularly those that make paper-based packaging, consistently work to expand their selection of ecological packaging products in an effort to lower their carbon footprints.
Paper-based protective packaging, including shipping containers, paperboard protectors, and molded pulp packaging, may be created from 100% recycled cardboard and is 100% recyclable, preventing waste from going to landfills. These products are utilized in both industrial and non-industrial packing. Such protective packaging options are made to provide stability, toughness, and insulation in order to satisfy the structural demands of supply chains.
Canada is a very open, transparent, and responsive market for different goods and services in the majority of industry sectors, with Canadians expending more than 60% of total disposable income on numerous products & services. Despite a significant disruption in retail outlets, Canadians have adopted electronic commerce. The eCommerce infrastructure in Canada is extremely advanced and highly incorporated with that in the US. Several American businesses have already included Canadian transactions via their websites.
The US market dominated the North America Protective Packaging Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8,536.4 million by 2028.The Canada market is poised to grow at a CAGR of 7.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.3% during (2022 - 2028).
Based on Type, the market is segmented into Flexible, Rigid and Foam. Based on Application, the market is segmented into Industrial Goods, Household Appliances, Healthcare, Automotive, Consumer Electronics, Food & Beverage and Others. Based on Material, the market is segmented into Foam Plastics, Paper & Paperboard, Plastics and Others. Based on Function, the market is segmented into Cushioning, Blocking & Bracing, Void Fill, Insulation and Wrapping. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Protective Packaging Market is Estimated to reach $41.4 Billion by 2028, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huhtamaki Oyj, Sonoco Products Company, Sealed Air Corporation, Smurfit Kappa Group plc, The Dow Chemical Company, WestRock Company, DS Smith Plc, Pregis LLC, Pro-Pac Packaging Limited, and Intertape Polymer Group Inc.
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