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Protective Packaging Market Size

ID: MRFR//0812-CR | 119 Pages | Author: Pradeep Nandi| September 2023

Protective Packaging Market Value was over USD 29,309.6 million in 2022. Consumers expect the Protective Packaging business will have a CAGR surging from USD 30,917.3 Million in 2023 to USD 49,724.9 Million by 2032 evincing a Compound Annual Growth Rate (CAGR) of 5.2%.

The Protective Packaging Market is powerfully driven by many ever-changing factors, including but not limited to, the foothold and dynamics that collectively add to the market's growth curve. The service market is driven by the rising awareness in safety proper product holding and transporting. With supply chains getting more complicate and universal, the assessment that wares reach their destination without any injury is the main problem many companies face during the production process. In November 1995 Utah was rocked by a 5.9 magnitude earthquake destroying buildings, homes, and infrastructure, injuring hundreds, and counting fatalities in the days following.

Besides the aforementioned factors, the ongoing flourish of online shopping is also mentioned as another key determining factor that brings about the thriving Protective Packaging Market. Paralleled with the online shopping boom, protective-packaging solutions have become sought-after, being able to withstand the pressures of transit during the supply chain process. Besides protecting products from damage, packaging not only gives the customer a very good impression but as well ensures the products reach them undamaged thereby customers are satisfied with the quality of the product or service thus, they are loyal to the company.

Environmental considerations without doubt have been the major force determining the dynamics of the system of protective packaging. In today's world, the attention to the sustainability dimension is increasing, which leads to an increasing demand for environment-friendly, recyclable packaging materials. Firms operating within the protective packaging sector are engaging in the eco-friendly fashion by implementing innovative technologies, going by introducing degradable substitutes and thus, reducing the unwanted environmental footprint coming from packaging materials.

The regulatory development is also of great significance in terms of protective package producer market value. Governments within the world are developing strict laws which control a particular usage of packaging materials as well, specifically, the packaging materials that are of environmental risk. Following the regulations imposed by governments is fundamental to the manufacturing companies of protective packaging products, thus making the companies channel in their resources towards research and development in order to discover packaging solutions that will be in line with the regulatory standards but will also be protective.

Consumers' preferences and buying patterns significantly weigh in whether in influencing the packaging protection industry. The manner in which consumers are willing to shop for goods is transforming with the concern about the environmental waste from the packaging of products is on the increase, consumers are thus likely to make a purchase from brands that have responsibly curated packaging. So can the more environmentally friendly responsibilities of the manufacturers, which implies the use of sustainable procedures and eco-friendly materials in their protective packaging solutions, be imputed to the evolution of consumer behaviors?

Global Protective Packaging Market Overview

Protective Packaging Market Size was valued at USD 30.91 Billion in 2023. The Protective Packaging industry is projected to grow from USD 32.52 Billion in 2024 to USD 49.72 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.45% during the forecast period (2024 - 2032). The growth in demand from the food & beverage and healthcare sectors, and popularity towards online shopping are the key market drivers boosting the growth of the Protective Packaging Market.

Protective Packaging Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Protective Packaging Market Trends

  • Growth in demand from the food & beverage and healthcare sectors and advancement in technology augmenting protective packaging market.

One of the main end-use industries boosting the expansion of the protective packaging market is the food and beverage industry. Another is the healthcare industry. The use of protective packaging in the food and beverage sector helps to guarantee that food products are transported and stored in a fresh, contaminant-free state. The demand for protective packaging is being driven by the expansion of the food and beverage industry, particularly in emerging regions. The demand for packaging solutions that can keep food goods fresh for longer is also growing as convenience foods, such as ready-to-eat meals and snacks, become more popular. Furthermore, protective packaging is employed in the healthcare sector to guarantee the secure and sanitary transportation and storage of medical goods. This is crucial for products susceptible to temperature, light, or moisture changes since protective packaging can keep such products' effectiveness. The demand for protective packaging in this sector is increasing along with the demand for healthcare goods and services, particularly in emerging nations. However, there is a rising need for environmentally friendly and sustainable packaging options in each of these businesses. Businesses in these sectors increasingly seek packaging options that minimize waste and environmental effects while offering essential product protection.

The main trend in the market for protective packaging is technological advancement. Large businesses are concentrating on research and development for new products, like automated, carbon-neutral products. For instance, in February 2022, the Netherlands-based Pregis Corporation, a provider of protective packaging systems and materials, unveiled Renew Zero. This air-cushioning film is recyclable and made of 50% post-consumer recycled material and 50% renewable plant waste, such as cellulose fiber. Renew Zero is carbon-neutral without the need for carbon offset techniques like planting trees and has been approved by European legislation for packaging and packaging waste. The Pregis AirSpeed MINI PAK'R machine, which creates air cushions in five different film configurations using radio frequency identification (RFID) technology, is compatible with the Renew Zero film. RFID technology automatically selects the best seal temperature, airflow, and seal pressure for the film for protective packaging.

Protective Packaging Market Segment Insights

Global Protective Packaging Application Insights

Based on application, the global protective packaging is segmented into consumer goods, food and beverages, industrial goods, healthcare, automotive, and others. The industrial goods segment is expected to dominate the market during the forecast period. Industrial goods protective packaging is a kind of packing material used to safeguard industrial items while they are being handled, stored, and transported. This packing style is utilized to prevent harm to the product and guarantee that it reaches the end user in good shape. Heavy things are transported and stored on wood, plastic, or metal platforms called pallets. They are built to bear the weight of the goods and keep them from shifting while being transported. The consumer goods segment was the second-largest segment in the protective packaging market. Consumer goods protective packaging is intended to safeguard consumer goods during handling, storage, and travel. This packaging is designed to safeguard the product from harm and guarantee that it gets the customer in excellent shape.

Protective Packaging Function Insights

Protective Packaging Market size includes flexible cushioning, insulation, wrapping, and void-fill. The flexible cushioning segment is estimated to dominate the market during the forecast period. Flexible cushioning is a protective packaging material used to cushion and absorb shock for objects during handling, storage, and transportation. Most flexible cushioning materials are soft and malleable and may mold to the contour of the object they are protecting. Void-fill is the second largest segment of the market. In order to stop products from shifting or moving during transit, which could result in damage, void-fill packaging is a form of protective packaging material used to fill empty areas in containers. To add further security, void-fill packing materials are frequently light and simple to put into empty places in a container.

Protective Packaging Materials Insights

The material segment of the Protective Packaging Market size includes paper and paperboard, foam plastics, plastics, and others. The foam plastics segment is expected to dominate the market during the forecast period. Paper and paperboard are the fastest growing segment in the protective packaging market. The market segment with the largest share was foam plastics. The substantial market share can be due to the products' lightweight, robust thermal insulation and shock-absorbing properties suitable for protective packaging. Products from foam include molded foams, loose fills, foam-in-place polyurethane, and expanded polyurethane foams. Also, the market for packaging made of paper and paperboard and protective packaging is anticipated to increase fastest. The packaging of frozen foods, beverages, medications, aseptic drink containers, cosmetics and perfumes, sweets, paper goods, and cereal boxes are some of the major industries that use paperboard. Throughout the forecast period, there is expected to be an increase in demand for paper and paperboard packaging, particularly from the food and beverage industry and severe limits on the use of plastic bags.

February 2024: The rise of cold chain logistics for perishable goods benefits the protective packaging market. Demand for temperature-controlled packaging solutions like insulated containers and thermal liners increases

Figure 2: Protective Packaging Market, by Material, 2022 & 2032 (USD Million)

Protective Packaging Market

Global Protective Packaging Product Type Insights

The product type segment of the Protective Packaging Market size includes rigid protective, flexible protective, and foam protective. The flexible protective segment is expected to dominate the market during the forecast period. The flexible protective category is anticipated to be the fastest growing in the category. A packing material called flexible protective packaging is used to guard against harm to goods during storage or transportation. Usually, lightweight products that need cushioning and protection from shock, vibration, and impact are packaged in this way. Bubble wrap, air pillows, foam pouches, and padded mailers are a few examples of flexible protective packaging. Practicing wrapping fragile things in bubble wrap, a plastic substance with air-filled bubbles, such as glassware, electronics, and ceramics is usual. Also, the foam protective category held the largest share of the market. Fragile objects are protected with foam packaging, a form of protective packaging material, throughout transport, handling, and storage. Expanded polystyrene foam (EPS), expanded polyethylene foam (EPE), and polyurethane foam are frequently used to make foam packaging (P.U.). Electronic equipment, medical gadgets, and delicate goods are frequently packaged with EPS foam since they are lightweight and strong.

Protective Packaging Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific protective packaging market accounted for largest market share in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is due to the rising need for safe packaging solutions across a range of sectors, including electronics, healthcare, and e-commerce. Due to the population, urbanization, and industrialization occurring at one of the quickest rates in the Asia Pacific, there is an increased need for protective packaging solutions. Countries including China, Japan, India, South Korea, and Australia are the market's major players. With many competitors active in the market, the protective packaging market in Asia-Pacific is very competitive. The Smurfit Kappa Group, Pregis Corporation, Storopack Hans Reichenecker GmbH, Sealed Air Corporation, and DS Smith plc are a few of the major competitors in the sector.

Figure 3: Protective Packaging Market, by region, 2022 & 2032 (USD Million)

Protective Packaging Market, by region

North America is the second-largest region in the protective packaging market. Numerous end-user sectors, including electronics, automotive, healthcare, and consumer goods, have helped develop and sustain the North American protective packaging market, which is an established and mature market. The United States, one of the world's largest markets for protective packaging, dominates the North American market. The country's strong logistics and transportation system has fueled the market's expansion for protective packaging. Due to the rising need for protective packaging across various end-user industries. Furthermore, there is a growing emphasis on environmentally friendly packaging options, which is anticipated to fuel market expansion in the ensuing years.

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, France, Italy, UK, Spain, Japan, UAE, South Africa, Saudi Arabia, Argentina, and Brazil.

Protective Packaging Key Market Players& Competitive Insights

Many global, regional, and local vendors characterize the protective packaging market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality packaging products to survive and succeed in an intensely competitive market.

The major players in the market include Packaging Corporation of America, Sealed Air Corporation, Unisource Worldwide, Inc., Macfarlane Group Plc, Max Packaging, Cellofoam North America Inc, Basf Se, Smurfit Kappa Group, Springpack, Pregis Llc, Evocative Design Llc, Universal Protective Packaging, FP International, Bayer Ag, Ach Foam Technologies, Llc, Protective Packaging Solutions and among others. The Protective Packaging Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Protective Packaging Market include.

  • Packaging Corporation of America

  • Sealed Air Corporation

  • Unisource Worldwide, Inc.

  • Macfarlane Group Plc

  • Max Packaging

  • Cellofoam North America Inc

  • Basf Se

  • Smurfit Kappa Group

  • Springpack

  • Pregis Llc

  • Evocative Design Llc

  • Universal Protective Packaging

  • FP International

  • Bayer Ag

  • Ach Foam Technologies, Llc

  • Protective Packaging Solutions

Protective Packaging Industry Developments

In June 2022, Packaging Corporation of America announced that it's opening a new 275,000-square-foot Center of Excellence manufacturing facility in Cedar City, Utah.

In April 2022, Sealed Air introduced prismiq a digital packaging brand with a portfolio of solutions for design services, digital printing, and smart packaging.

In March 2022, Veritiv Corporation announced that it has signed a definitive purchase agreement to sell its Veritiv Canada, Inc. business to Imperial Dade.

In May 2022, Macfarlane Group PLC acquired PackMann Gesellschaft für Verpackungen und Dienstleistungen mbH (“PackMann”), a protective packaging distribution business based in Eppelheim near Heidelberg, Germany.

In December 2022, BASF SE and StePac Ltd. have joined forces to create the next generation of sustainable packaging specifically for the fresh produce sector. Supplying StePac with its Ultramid CcycledTM.

Protective Packaging Market Segmentation

Protective Packaging Market Application Outlook (USD Million, 2018 -2032)

  • Consumer Goods

  • Food and Beverages

  • Industrial Goods

  • Healthcare

  • Automotive

Protective Packaging Market Function Outlook (USD Million, 2018 -2032)

  • Flexible Cushioning

  • Insulation

  • Wrapping

  • Void-fill

Protective Packaging Market Materials Outlook (USD Million, 2018 -2032)

  • Paper and Paperboard

  • Foam Plastics

  • Plastics

Protective Packaging Market Product Type Outlook (USD Million, 2018 -2032)

  • Rigid Protective

  • Flexible Protective

  • Foam Protective

Protective Packaging Regional Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • UK

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Rest of Asia-Pacific

  • Middle East and Africa

    • Saudi Arabia

    • UAE

    • South Africa

    • Rest of Middle East and Africa

  • Latin America

    • Argentina

    • Brazil

    • Latin America

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