ID: MRFR/PNT/7177-HCR | February 2021 | Region: Global | 107 pages
Market Synopsis: Global Dunnage Packaging Market
Dunnage packaging refers to the packaging solutions, which caters damage control to the goods which are transported and unloaded. Dunnage packaging solutions provide multiple sections, which can hold several parts at the time preventing individual packaging for each part. The global market for dunnage packaging has been witnessing moderate growth in the past couple of years. The demand for dunnage packaging and custom dunnage is expected to be driven by increasing preference for secure and convenient dunnage packaging solutions among the end-users. Moreover, the awareness regarding the superior characteristics of custom dunnage has been increasing rapidly. Such factors have led to the growth in the dunnage packaging materials, driving the growth of the dunnage packing market across the globe.
Furthermore, dunnage packaging of materials such as foam dunnage, cardboard dunnage, and honeycomb dunnage is a very crucial solution that is inclined towards major end-use industries such as automotive, food & beverages, consumer goods for advanced and secure packaging. Also, dunnage packaging is a very important innovation towards sustainable and efficient packaging. Also, one more driving aspect in the market is increasing demand environment-friendly packaging means with changing demand by consumers is expected to add to the market growth during the forecast period.
The global dunnage packaging market was valued at ~USD 2.8 billion in 2018 and is expected to witness a CAGR of around 5.1% during the forecast period.
Global Dunnage Packaging Market: Regional Analysis
The Global Dunnage Packaging Market has been segmented, based on region as North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2018, Asia-Pacific held the largest share in the global dunnage packaging market, followed by the regions of North America and Europe; it is expected to continue to retain its dominance until 2025.
The growing demand for sustainable packaging in countries such as China and India, is one of the major factors, which is expected to raise the demand for dunnage packaging in the region during the forecast period. North America is estimated to grasp a high growth rate due to the growing R&D investments for product development and innovation of packaging materials. Furthermore, stringent government regulations in contrast to the recycling of packing materials in the US and Canada has propelled the demand for smart and innovative packaging in the various end use industries.
Global Dunnage Packaging Market: Segmentation
The Global Dunnage Packaging Market has been segmented based on material type, and end-use industry. By material type, the global market is segmented by corrugated plastics, molded plastics, aluminum, steel, fabric dunnage, corrugated paper, wood, foams, and others. The corrugated plastic segment also known as composite dunnage held the largest market share of the global dunnage packaging market in 2018 and is also expected to witness the highest CAGR during the forecast period.
By end-use industry, the global market has been segmented as automotive, aerospace, electronics, food & beverages, consumer goods, and healthcare. The automotive industry segment held the largest market share of the global dunnage packaging market owing to the substantial growth in the automotive aftermarket industry growth. This has created demand for dunnage packaging for transporting automotive parts.
Key Industry Participants
The Key Industry Participants of the global market for dunnage packaging are DS Smith (UK), Myers Industries (US), Menasha Corporation (US), Schoeller Allibert (Netherlands), Nefab (Sweden), UFP Technologies (US), Amatech Inc. (US), Reusable Transport Packaging (Florida), Rehrig Pacific Company (US), MJSolpac Ltd. (UK).
Frequently Asked Questions (FAQ) :
Nefab (Sweden), Myers Industries (US), DS Smith (UK), Schoeller Allibert (Netherlands), Menasha Corporation (US), are the leading players in the Dunnage Packaging Market
As dunnage packaging is a very important innovation towards sustainable and efficient packaging, the market will be rising with high demand of environment-friendly packaging in the future.
There will be secure and convenient dunnage packaging solutions mainly the end-users.
Dunnage packaging of materials such as foam, cardboard, and honeycomb dunnage is a very essential solution that serves major end-use industries such as automotive, food & beverages, consumer goods for secure packaging.
North America is estimated to grasp fastest growth at a high growth rate.