Global Protective Packaging Market size was valued at USD 35,4 Billion in 2022 and is expected to reach USD 53.4 Billion by 2032, at a CAGR of 4.80% during the forecast period 2023 – 2032
Protective Packaging products are manufactured and designed to protect the goods from atmospheric, magnetic, electrostatic, vibration or shock damage. Products include types of boxes or storage containers, packing materials, liners, and spacers. Protective packaging products are used to protect packaging from one or more types of damage.
Growing demand for Protective Packaging in various end use industries is expected to boost the market growth during the forecast period. The rapidly expanding food & beverage industry across the globe is a major driver for the market.
For instance, according to the India Brand Equity Foundation, India F&B generates 3% of the GDP, it accounts for around two-thirds of India’s overall retail market. By 2027, the F&B market size is anticipated to reach almost USD 504.92 billion, which in turn is expected to propel the demand for protective packaging during the forecast period.
However, fluctuating raw material prices, less adaptation of Protective Packaging in underdeveloped countries, and lack of universal directives about the usage of Protective Packaging are restraining the market growth during the forecast period.
Growing production and utilization of consumer electronic products in many emerging economies such as China, India, Japan, South Africa, GCC, and Brazil among others is expected to create lucrative opportunities for the market during the forecast period.
Global Protective packaging market is segmented by material type, packaging type, end use industry and region. By material type, plastic material held the highest market share in 2022 owing to easy availability and low cost of plastic based materials. The paper material segment second largest market share and is expected to grow at the highest CAGR during the forecast period owing to increasing demand for sustainable packaging solutions.
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By end use industry, the food and beverage end use industry dominated the market owing to increasing demand for hygienic and clean food & beverages across the globe. Rising penetration of the E-commerce industry across the globe creates demand for protective packaging solutions for the safety and protection of products, which in turn boosts the demand for protective packaging.
Asia-Pacific dominated the global protective plastics market due to thriving economies, growing industrial base, population growth, and increasing disposable income propelling the growth of many end use industries, thereby market growth. The major countries and sub regions such as India, Japan, China, ASEAN and South Korea are boosting the consumption of protective packaging in this region, thereby market growth.
North America held the second largest market share in the global protective packaging market followed by Europe. Stringent regulations about packaging in the U.S. and Canada are driving the market growth of the North America protective packaging market.
Custom Market Insights has comprehensively analyzed Protective Packaging market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Protective Packaging industry.
The competitive landscape includes key innovators, after market service providers, market giants as well and niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, the Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.
List of the prominent players in the Protective Packaging Market:
- ACH Foam Technologies Inc
- Advanced Protective Packaging Ltd.
- BASF SE
- Cascades Inc.
- DS Smith Plc
- EcoEnclose
- Huhtamaki OYJ
- International Paper Company
- Intertape Polymer Group (IPG)
- Packaging Corporation of America
- Point Five Packaging
- Pregis Corporation
- Pregis LLC
- Pro-Pac Packaging Limited
- Ranpak Corp
- Sealed Air Corporation
- Smurfit Kappa Group Plc.
- Sonoco Products Company
- Storopack Hans Reichenecker Gmbh
- Universal Protective Packaging Inc.
- WestRock Company
- Others
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