Protective packaging is any material designed to physically shield and buffer an object against possible damage or destruction during transportation or storage. Typically, protective packaging is utilized as the primary element of the object's packaging, protecting the object from moisture, light, abrasion, or breakage. Protective packaging can also be used as a secondary component of the packaging, serving as an additional barrier to prevent damage or destruction of the packaging itself.
Market Dynamics
Rapid urbanization and industrialization are expected to drive the growth of the protective packaging market. Advancement in technology is also projected to foster the market growth. For instance, in July 2021, Smurfit Kappa acquired Cartonbox, a folding carton company located in Monterrey in North-East of Mexico. This will help the company to strengthen its paper packaging business in Mexico and expand its market in other countries.
The growing inclination of manufacturers towards bioplastic materials for protective packaging is projected to bring new market opportunities in the near future. For instance, in May 2019, Eastman, a manufacturer of chemicals, fibers and plastic products showcased sustainable packaging innovations at LUXE PACK New York, Eastman Triva engineering bioplastic and Cristal EV600 copolyester. They can serve as a direct replacement for Anti-lock Braking System and enables opportunities for down gauging in packaging applications. Moreover, they offer better performance and less environmental impact.
The expansion of the healthcare and pharmaceutical packaging industry is projected to offer significant market opportunities over the forecast period. Growing trading of pharmaceutical products coupled with a rise in the geriatric population around the globe is creating a need for healthcare products such as devices and drugs. The increasing adoption of advanced and reliable packaging solutions in the pharmaceutical industry is propelling the protective packaging market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
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