The global Protective Packaging Market size is expected to reach USD 50.15 billion by 2030, expanding at 5.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This market growth is primarily due to the rising consumer spending for packaged goods and increased demand from various end-uses such as industrial goods, food & beverage, and other industries.
Increased
disposable income and a greater inclination to purchase a wide range of
packaged consumer products in regions such as North America and Asia Pacific,
the need for protective packaging to safeguard these goods during
transportation, storage, and handling are key factors driving growth.
In
addition, the protective packaging industry is increasingly being driven by the
unboxing experience of electronic products, particularly among social media
influencers. Brands that embrace this trend can connect customers to their
websites and products more effectively. For instance, electronic manufacturers
such as Apple and Samsung are investing in protective packaging solutions that
provide appealing packaging as well as physical protection for the products
enhancing the overall unboxing experience. This includes incorporating logo
graphics and adding personalized touches to the protective packaging.
The
industry players are adopting several strategies including partnerships,
expansions, mergers & acquisitions, joint ventures, new product launches,
and partnership agreements to increase the customer base and individual market
share. For instance, in April 2023, Huhtamaki OYJ announced an expansion in its
product portfolio range of protective packaging by launching sustainable and
flexible packaging in recycled paper, polyethylene, and polypropylene.
List of Key Players in the Protective Packaging
Market
- Sealed Air
Corporation
- Sonoco
Products Company
- Smurfit
Kappa Group Plc.
- WestRock
Company
- Huhtamaki
OYJ
- DS Smith Plc
- Pregis LLC
- Pro-Pac
Packaging Limited
- Dow Chemical
Company
- Intertape
Polymer Group (IPG)
- Storopack
Hans Reichenecker Gmbh
- International
Paper Company
- EcoEnclose
- Point Five
Packaging
- Universal
Protective Packaging, Inc.
Related Press
Release@ Protective Packaging Market Report
Protective Packaging Market Report Highlights
- The
protective packaging industry is driven by the expanding e-commerce sector
in regions like North America and Europe. Furthermore, the growing
smartphone penetration worldwide is fueling the demand for protective
packaging, ensuring the protection of these devices from physical damage
- Flexible
packaging has increased demand from several end-use industries as it
offers a viable solution for packaging and protection of irregular items
that are of different forms and sizes. It has high shock absorption
capabilities to prevent all forms of physical damage to the product which
drives the market demand for this segment
- The plastic foam
segment is witnessing significant growth owing to its wide application in
consumer electronics products such as smartphones on account of their
excellent resilience and superior cushioning abilities
- The
industrial goods segment accounted for one of the largest market shares in
the base year 2022. Several key players such as Deufol SE are
manufacturing protective packaging solutions for industrial goods in the
market, which drives the demand for this segment
- Asia Pacific
recorded a higher market share in 2022 owing to increased international
trade and export in the region of food & beverage and consumer
products requiring protective packaging solutions for long hours of
transit and warehousing
- Several key
companies are collaborating to strengthen their market positions in the
protective packaging industry. For instance, in November 2022, Huhtamaki
OYJ announced an expansion in its production capacity for sustainable
paper-based protective packaging in Spain to meet the growing consumer
demand
Protective Packaging Market
Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 35.50 billion |
|
Revenue forecast in 2030 |
USD 50.15 billion |
|
Growth Rate |
CAGR of 5.1% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
|
Report updated |
May 2023 |
Protective Packaging Market Segmentation
Grand
View Research has segmented the global protective packaging market based on
type, material, function, end-use, and region:
Protective Packaging Type Outlook (Volume, Million Tons;
Revenue, USD Million, 2018 - 2030)
- Flexible
Protective Packaging
- Foam
Protective Packaging
- Rigid
Protective Packaging
Protective Packaging Material Outlook (Volume, Million
Tons; Revenue, USD Million, 2018 - 2030)
- Paper &
Paperboard
- Plastic
Foams
- Plastic
- Others
Protective Packaging Function Outlook (Volume, Million
Tons; Revenue, USD Million, 2018 - 2030)
- Void Fill
- Wrapping
- Insulation
- Blocking
& Bracing
- Cushioning
Protective Packaging End-use Outlook (Volume, Million
Tons; Revenue, USD Million, 2018 - 2030)
- Food &
Beverage
- Industrial
Goods
- Consumer
Electronics
- Household
Appliances
- Healthcare
- Automotive
- Others
Protective Packaging Regional Outlook (Volume, Million
Tons; Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Southeast
Asia
- Central
& South America
- Brazil
- Middle East
& Africa
- Saudi
Arabia
- United Arab
Emirates
- South
Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment