The Global Protective Packaging Market size is expected to reach $41.4 billion by 2028, rising at a market growth of 5.6% CAGR during the forecast period.
Automotive, electronics, aerospace, appliance, and pharmaceutical industries are just a few of the many sectors that require protective packaging. In order to protect and shelter a core product from harm during transportation or storage, several packaging materials are used. In general, everything from flexible paper cartons to the most intricate die cut integrated into a steel rack can be used to produce protective packaging.
Depending on how the products will be utilized, protective packaging could be employed as either main or secondary packing. Protective packaging can be made from a wide variety of materials or material mixtures. To produce the best alternative for the product that they develop, businesses employ everything from simple foam plastic dunnage assemblies to basic, plastic corrugated layer pads.
Protective packaging is a need for supplies used in moving and shipping. The five primary kinds of packaging could be utilized for the majority of applications, but there is no one style of packaging that is suitable for all types of products. However, adopting the proper protective packaging is essential and could make the difference between a package arriving safe and undamaged or arriving damaged.
Packing paper is a particular type of paper that is utilized in protective packing. This could come in the shape of butcher paper, kraft paper, and other types of paper, and it is much denser and more durable than typical writing paper. Typically, it comes in rolls. Suppliers and manufacturers in a variety of end-use industries place a strong emphasis on lowering supply chain logistics as well as shipping costs overall.
The outbreak of the global COVID-19 pandemic has significantly impacted various sectors of the business domain. Protective packaging market has been affected by that too. Suppliers and manufacturers of protective packaging were heavily impacted by safety and governmental orders made at the state, federal, and local levels in 2020. Shelter-in-Place Orders imposed at the state and local levels, together with federal government (United States) guidelines to stop the virus' spread, have compelled businesses to alter or disrupt their regular business operations.
E-commerce offers users a wide range of possibilities for purchases as well as the convenience of shopping from home. This is encouraging an increasing number of individuals to shop online, giving the e-commerce sector one of the fastest-growing sectors globally. Major e-commerce firms like Alibaba, Amazon, and Flipkart employ protective packaging to shield the contents from damage during delivery and shipment. Flexible food packaging has seen a significant boost in innovation in past years as a result of technological improvements.
Construction and industry are expanding quickly in developing nations. As a result, there is a rise in demand for construction and chemical products. To accommodate this demand, global commerce is expanding. Two major factors are driving the worldwide protective packaging industry: growing trade and capital market liberalization, which has raised export and import activity, and technical developments, along with reduced transportation costs.
Environmental impact is greatly increased by the non-biodegradability of certain plastic packaging wastes. Governments all around the globe are enacting stringent laws and regulations which the packaging sector must follow to address this issue. The European Green Deal, for example, which was introduced in December 2019 and established a route to zero net greenhouse gas emissions by 2050 while putting a focus on economic growth unrelated to resource utilization, is one example.
On the basis of type, the protective packaging market is segmented into Rigid, Flexible and Foam. Rigid Protective Packaging segment garnered a significant revenue share in the protective packaging market in 2021. The rigid packaging is made of heavier and frequently stronger materials. Glass, hard polymers, cardboard, metal, and other materials are examples of stiff packaging materials, but they are not the only ones.
Based on material, the protective packaging market is divided into Foam Plastics, Paper & Paperboard, Plastics and Others. Paper & Paperboard segment procured a significant revenue share in the protective packaging market in 2021. The current standard for reusable, biodegradable, and ecologically friendly void fill options is paper protective packaging. It is simple to handle paper void fill material by hand, or it could be utilized in an automated packaging machine for greater speed and efficiency.
By function, the protective packaging market is classified into Cushioning, Blocking & Bracing, Void Fill, Insulation and Wrapping. Cushioning segment garnered the maximum revenue share in the protective packaging market in 2021. The market for cushioning, which shields delicate and light items from damage while in transit and storage, is anticipated to hold the highest share. By limiting the mobility of the packed product throughout transportation, it also prevents destruction from shock and vibration.
On the basis of application, the protective packaging market is fragmented into Food & Beverage, Industrial Goods, Healthcare, Automotive, Consumer Electronics , Household Appliances and Others. Consumer Electronics segment procured a significant revenue share in the protective packaging market in 2021. New retail tactics are being driven by the continuing change in consumer purchasing habits brought on by the economic downturn in order to handle demand variability, margin challenges, and escalating competition.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 28.6 Billion |
| Market size forecast in 2028 | USD 41.4 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 5.6% from 2022 to 2028 |
| Number of Pages | 306 |
| Number of Tables | 514 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Application, Material, Function, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the protective packaging market is analyzed across North America, Europe, Asia Pacific and LAMEA. Asia Pacific emerged as the leading region in the protective packaging market with the maximum revenue share in 2021. The market's largest and fastest-growing country in the region is China, which is expected to dominate it in the following five years. Key aspects that will influence the market throughout the projected period include industrialization, increasing internet penetration, growing manufacturing operations, rising disposable income, expanding consumption levels, and growing e-retail sales.
Free Valuable Insights: Global Protective Packaging Market size to reach USD 41.4 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; The Dow Chemical Company are the forerunners in the Protective Packaging Market. Companies such as Smurfit Kappa Group plc, Sealed Air Corporation, WestRock Company are some of the key innovators in Protective Packaging Market.
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.
By Type
By Application
By Material
By Function
By Geography
The global Protective Packaging Market size is expected to reach $41.4 billion by 2028.
Growing Popularity Of E-Commerce Industry Among Customers are driving the market in coming years, however, Strict Rules And Regulations For Packaging restraints the growth of the market.
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.
The Flexible segment acquired maximum revenue share in the Global Protective Packaging Market by Type in 2021 thereby, achieving a market value of $20.7 billion by 2028.
The Foam Plastics segment is leading the Global Protective Packaging Market by Material in 2021, thereby, achieving a market value of $17 billion by 2028.
The Asia Pacific market dominated the Global Protective Packaging Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14.9 billion by 2028.
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