ID: MRFR/PNT/0812-HCR | February 2021 | Region: Global | 115 pages
Protective packaging market was valued at USD 32.73 billion in 2020 and is expected to reach a value of USD 47.91 billion by the end 2027,at a CAGR of 5.73% during the forecast period (2020- 2027)
The protective packaging market has witnessed a prospective growth over the last few years and as per MRFR analysis, the market is likely to retain the similar growth rate during the forecast period. In the report, the market has catogirzed based on materials, which includes paper & paperboard, plastics, and others.
Segmentation and Regional Analysis
The global protective packaging market is segmented based on product type, material, function, application, and geography. On the basis of the product type, it is segmented into rigid protective, flexible protective, and foam protective. By material, the market is classified as paper & paperboard, plastics, and others. By function, it is divided into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. The application segment includes food, beverage, healthcare, cosmetics, industrial, and other consumer goods. The market is analyzed across Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Asia Pacific dominates the global protective packaging market, and it is anticipated to project the highest growth during the forecast period. Countries such as China and India are predicted to witness the highest growth within the region. Manufacturers are focusing on developing low-cost protective packaging options. Rapidly growing electronics industry and e-commerce sector and increasing the demand for paper & paperboard packaging, which includes folding, corrugated board or cardboard, protective mailers and others are some of the key factors accelerating the market growth. Moreover, higher disposable income in developing countries such as India, China, and Indonesia increases the purchasing power of customers. Hence, consumer dependence on processed, pre-cooked and packed foods is likely to increase. As a result, protective packaging market has been impacted, positively.
Some of the key players in the global protective packaging market are Packaging Corporation of America (U.S.), Max Packaging (India), Springpack (U.K), Sealed Air Corporation (U.S.), Protective Packaging Solutions (U.S.), Smurfit Kappa Group (U.K), Pregis Corporation (U.S.), ACH Foam Technologies LLC (U.S.), Bayer AG Germany, FP International (U.S.), BASF SE Germany, Macfarlane Group (U.K), Universal Protective Packaging (U.S.), Unisource Worldwide (U.S.), Cellofoam North America Incorporated (U.S.), and Ecovative Design LLC (U.S.).
The new players trying to enter the market are required to make a moderate capital investment in order to meet technological aspects required for the protective packaging industry. In addition, medium government regulations to ensure that the raw materials used are a biodegradable waste to achieve sustainable packaging, makes the entry of new players moderately difficult, thus, making the threat of new entrants, medium.
June 2021- UK-based BUBL Packaging has made a PPE deal with ASAP Innovations
Packaging is the covering of products in packages with the help of protective wrappings or other external covering, which provides protection, information, security, and other benefits. Boxes, bubble wrap, plastic, bags, cloth, and cartons are some of the common packaging materials. Product packaging has grown as an important part of sales and marketing operations. With online sales growing at a rate of 20% annually, the packaging is impacting brand image, as well as shipping costs. Innovative packaging solutions enhance brand value with internal packaging and also demonstrates assurance to environmentally responsible packaging, coupled with minimizing the size and weight of the overall package for lower shipping costs.
Plastic is one of the most widely used materials for packaging across various end-use industries. Plastic in the form of PVC, PE, PP, PET, and others are used extensively. The material offers high barrier, cost-efficient, temperature resistance and durable packaging options. The segment holds the largest share in the global protective packaging market and is expected to grow at the highest rate in coming years.
A recent study shows that consumer are more inclined toward purchasing products online, which is increasing the demand for packaging to protect goods from shock, vibration, and other damaging effects of shipping and handling. Increasing e-commerce sector is one of the main drivers and supports gains for products such as air pillows and protective mailers.
Technological advancements in packaging play a vital role in driving the growth of protective packaging market. The market is experiencing high growth due to different factors such as growth in demand from the food & beverage and healthcare sectors, and preference for convenient packaging. Advancement in technology has allowed innovation instead using traditional methods for packaging. Recent trend shows that key market players are focusing on R&D activities to develop sustainable and environment-friendly packaging materials, which can be reused and recycled. Popularity towards online shopping and adoption of protective materials coupled with sustainable packaging are predicted to experience a positive impact on the market growth during the forecast period. Increased demand for protective packaging spurs investment in e-commerce applications. Many companies are investing heavily in the development of packaging products and are coming up with barrier resistance properties that offer resistance to heat and moisture and eliminates oxidation of foods. Protective packaging helps to maintain the quality and consistency of food products while extending their shelf life without the use of preservatives. High demand for protective packaging benefits Internet sales by using environment-friendly materials.
The report for Global Protective Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027:USD 47.91 billion|
|CAGR||5.73% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product type, material, function and application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||America (U.S.), Max Packaging (India), Springpack (U.K), Sealed Air Corporation (U.S.), Protective Packaging Solutions (U.S.), Smurfit Kappa Group (U.K), Pregis Corporation (U.S.), ACH Foam Technologies LLC (U.S.), Bayer AG Germany, FP International (U.S.), BASF SE Germany, Macfarlane Group (U.K), Universal Protective Packaging (U.S.), Unisource Worldwide (U.S.), Cellofoam North America Incorporated (U.S.), and Ecovative Design LLC (U.S.).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The plastic material segment is expected to create significant opportunities for expansion in the forthcoming period.
The Asia Pacific region is appraised to show a remarkable scope for development in the duration of the forecast.
The rise in e-commerce applications is expected to create a significant demand base for the development of the protective packaging market.
Some of the competitors in the market are Springpack (U.K), Protective Packaging Solutions (U.S.), Sealed Air Corporation (U.S.), Smurfit Kappa Group (U.K), Pregis Corporation (U.S.), Universal Protective Packaging (U.S.), ACH Foam Technologies LLC (U.S.), Max Packaging (India) and Unisource Worldwide (U.S.) to name a few.