Protective Packaging Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Protective Packaging Market grew at a CAGR of 5.0% between 2017-2021 and is estimated to be US$ 27,271.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 18,436.42 Mn by 2032 end.
Various applications, including food, electronics, and pharmaceutical industries, embrace protective packaging. The type of goods’ protective packaging can be divided into three basic categories: rigid, foam, and flexible. Additionally, protective packaging offers solutions that shield machinery, equipment, and industrial goods from harm while being stored and transported. Additionally, protective packaging provides security through the void fill, wrapping, flexible cushioning, blocking and bracing, defensive containment, and surface defense.
GROWTH OF THE E-COMMERCE INDUSTRY WILL DRIVE THE MARKET
E-commerce offers users a wide range of possibilities for purchases and the convenience of shopping from home. This is encouraging an increasing number of individuals to shop online, making e-commerce one of the fastest-growing sectors globally. Large e-commerce firms like Amazon, Alibaba, and Flipkart employ protective packaging to shield the contents from damage during delivery and shipment.
STRINGENT REGULATION FOR PACKAGING WILL RESTRICT THE MARKET GROWTH
Environmental impact is greatly increased by the non-biodegradability of certain plastic packaging wastes. Governments worldwide are enacting stringent laws and regulations that the packaging sector must follow to address this issue. The European Green Deal, for instance, introduced in December 2019 and established a path to zero net greenhouse gas emissions by 2050 while emphasizing economic growth unrelated to resource use, is one example.
The Commission announced that it would continue the Plastics Strategy by focusing on enacting new legislation, such as legal requirements to boost the market for secondary raw materials with mandatory recycled content, targets, and measures to combat excessive packaging and waste generation, regulations to ensure that all packaging in the EU is recyclable or reusable in an economically viable manner by 2030, and a regulatory framework for biodegradable and bio-based products.
GLOBALIZATION AND INTERNATIONAL TRADE CREATE AMPLE OPPORTUNITIES
Construction and industrialization are expanding quickly in developing nations. As a result, there is a rise in demand for construction and chemical products. To accommodate this demand, international trade is expanding. Two major factors are driving the worldwide protective packaging industry: growing trade and capital market liberalization, which has increased export and import activity, and technical developments, which have reduced transportation costs. As a result of globalization, businesses are also exporting their goods to other countries, increasing the demand for protective packaging to preserve interests from damage over long distances.
Manufacturers and suppliers of protective packaging were heavily impacted by safety and governmental orders made at the federal, state, and local levels in 2020. Shelter-in-Place Orders issued at the state and local levels and federal government (United States) guidelines to stop the virus’ spread have compelled businesses to alter or disrupt their regular business operations.
Protective packaging producers suffered in 2020 due to laws requiring business closures, societal conventions of segregation, and reduced municipal and state government office activity. The pandemic hindered the need for protective packaging, primarily because the end-use sectors’ demand for this protective packaging fell.
Market Segments Covered in Report
By Material Type:
By Product Type:
By Function Type:
By Region and Country:
How are flexible protective packaging solutions set to fare in the coming years?
Flexible protective packaging currently occupies the top spot in product type, accounting for about 67.3% of the protective packaging market in 2021. Its popularity and demand are driven by properties including cushioning, insulating, void filling, and low weight among end-use industries. Flexible protective packaging options with recyclable material content are available. The recyclability, sustainability, and sales of flexible protective packaging have all increased with the use of bioplastic in manufacturing.
Why is the foamed plastic segment expected to expand the fastest during the forecast period?
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, which are suitable for protective packaging.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for chlorinated solvents in the worldwide industry, market players in the chlorinated solvents market can anticipate attractive growth prospects in the future.
Some of the key developments that have taken place in the Protective Packaging Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Material Type, Product Type, Function Type, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.3%.
E-commerce offers users a wide range of possibilities for purchases and the convenience of shopping from home. This is encouraging an increasing number of individuals to shop online, making e-commerce one of the fastest-growing sectors globally.
Major global Protective Packaging Market players are Sealed Air Corporation, Crown Holdings Inc, Sonoco Products Company, Winpack Ltd, Smurfit Kappa Group, DS Smith Plc, WestRock Company, Schur Flexibles Holding GesmbH, Greif, International Paper Company, Nefab Group, Cascades Inc
Environmental impact is greatly increased by the non-biodegradability of certain plastic packaging wastes.
North America is expected to account for the largest market revenue share in the Global Protective Packaging market.
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