all report title image
  • Published On : Nov 2022
  • Code : CMI3493
  • Industry : Packaging
  • Pages : 150
  • Formats :

Protective packaging is designed to provide protection and prevent damage to products during transport and storage. Protective packaging helps protect a product by maintaining the integrity of the product. Protective packaging is available in three forms such as flexible protective packaging solution, rigid protective packaging solution, and foam protective packaging solution.

Global protective packaging market was valued at US$ 31788.0 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.92 % during the forecast period (2022 to 2030).

Drivers

Robust growth in various manufacturing industries around the globe is a major factor propelling the growth of protective packaging market. A rise in the end-use industries such as automotive, pharmaceutical, automotive, electronic, etc. across developing regions coupled with growing consumerism is also projected to augment the growth of protective packaging market the forecast period.

A rise in urban population around the globe is expected to propel the growth of protective packaging market. According to the United Nations in 2020, at present, 55% of the world’s population lives in urban areas, a proportion that is projected to increase to 68% by 2050. Moreover, the gradual shift in the residence of human population from rural to urban areas, combined with the overall growth of the world’s population is expected to add another 2.5 billion people to urban areas by 2050.

The global packaging industry has witnessed a significant rise in the sales of specific types of packaging which are associated with the healthcare and pharmaceuticals sectors. Imposed lockdowns and reduce demand from various end use-sectors have reduced the demand for protective packaging solutions. Furthermore, limited and restricted trade activities across countries are impacting the sales of protective packaging solutions. Nevertheless, recovery from the COVID-19 crisis with rapid vaccination drives across American and European countries is estimated to help in the recovery of the demand for protective packaging solutions through 2021 and beyond.

Figure 1. Global Protective Packaging Market Value Share (%), By Region, 2021

Protective Packaging  | Coherent Market Insights

Market Restraints

Growing environmental concerns due to waste generated by protective packaging are expected to hinder market growth. In order to protect the products, retailers or logistics service providers utilize a large amount of protective packaging such as bubble wraps, paper fills, loose fill peanuts, or paper/foam edges that increase the generation of waste materials after the unpacking of the products.

The issue associated with foamed plastic in protective packaging is expected to hamper the market growth. Foamed plastic is a non-biodegradable raw material and takes years to decompose.

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Protective Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 31788.0 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 5.92 % Forecast Period: 2022-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Segments covered:
  • By Product Type: Foamed Plastic, Paper, Plastic
  • By Material Type: Foam Protective Packaging, Flexible Protective Packaging, Rigid Protective Packaging
  • By Function Type: Wrapping, Void Fill, Insulation, Cushioning, Blocking & Bracing
Companies covered:

Sonoco Products Company, Sealed Air Corporation, Packaging Corporation of America, ACH Foam Technologies, Inc., BASF SE, Cascades Inc., Pregis Corporation, Ranpak Corp., Storopack Hans Reichenecker GmbH, and Advanced Protective Packaging Ltd.

Growth Drivers:
  • Rapid industrialization
  • Rapid urbanization 
Restraints & Challenges:
  • Strict rules &regulations
  • Growing environmental concerns

Market Trends

Inflatable packaging is gaining traction in the market as they offer a high level of protection at a low cost. Moreover, factors such as more environment-friendly than other bulkier alternatives are propelling the demand for protective packaging market. Furthermore, they offer a greater level of shock absorption capability and protection to the packaged product. Additionally, inflatable packaging has drastically reduced the damages and costs in the supply chain. Thus, growing demand for inflatable packaging is propelling the market growth.

Acquisition and merger among key manufacturers for business expansion is another major trend in the market. For instance, in June 2019, Warburg Pincus, a global private equity firm, headquartered in New York acquired Pregis LLC, a provider of protective packaging materials and automated systems, from Olympus Partners, a private equity firmThus, the growing adoption of strategic mergers and acquisitions among key manufacturers is projected to support the growth of protective packaging market over the forecast period.

Figure 2. Global Protective Packaging Market Value Share (%), By Material Type, 2021

Protective Packaging  | Coherent Market Insights

On the basis of material type, the flexible protective packaging segment held a dominant position and accounted for 66.7% share in the global protective packaging market in 2021.

Recent Developments

  • In October 2021, Compass Diversified-Backed Altor Solutions, Inc., a designer and producer of superior products for packaging announced the acquisition of Plymouth Foam, a designer and manufacturer of foam products for packaging, shipping With the help of this acquisition, the company aims to strengthen its status as a leading provider of packaging and componentry solutions through an expanded geographic presence.
  • In September 2021, Tekni-Plex, a global leader in the Healthcare and Consumer Product markets acquired Keyes Packaging Group, the leading provider of protective molded fiber packaging and tissue wrap. The acquisition adds Tekni-Plex to widen its tray and flats portfolio, strengthening its offerings to customers in the food and beverage industry.
  • In July 2021, Specialized Packaging Group (SPG), a leading vertically-integrated provider of protective packaging products, acquired Bay Area-based Specialized Packaging Solutions (SPS), a designer and manufacturer of packaging products. With the help of this acquisition, the company aims to increase its product portfolio of the protective packaging division.

Competitive Section

Major players operating in the market include Sonoco Products Company, Sealed Air Corporation, Packaging Corporation of America, ACH Foam Technologies, Inc., BASF SE, Cascades Inc., Pregis Corporation, Ranpak Corp., Storopack Hans Reichenecker GmbH, and Advanced Protective Packaging Ltd.

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:

  • This report provides an in-depth analysis of the global protective packaging market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global protective packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Sonoco Products Company, Sealed Air Corporation, Packaging Corporation of America, ACH Foam Technologies, Inc., BASF SE, Cascades Inc., Pregis Corporation, Ranpak Corp., Storopack Hans Reichenecker GmbH, and Advanced Protective Packaging Ltd
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global protective packaging market report caters to various stakeholders in this industry including investors, suppliers, protective packaging manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global protective packaging market

Detailed Segmentation:

  • Global Protective Packaging Market, By Product Type:
    • Foamed Plastic
    • Paper
    • Plastic
  • Global Protective Packaging Market, By Material Type:
    • Foam Protective Packaging
    • Flexible Protective Packaging
    • Rigid Protective Packaging
  • Global Protective Packaging Market, By Function Type:
    • Wrapping
    • Void Fill
    • Insulation
    • Cushioning
    • Blocking & Bracing
  • Global Protective Packaging Market, By Region:
    • North America
      • By Country:
        • U.S
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • By Country:
        • France
        • Germany
        • Italy
        • Spain
        • U.K.
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Country:
        • Middle East
        • Africa
  • Company Profiles
    • Sonoco Products Company*
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Sealed Air Corporation
    • Packaging Corporation of America
    • Packaging Corporation of America
    • BASF SE
    • Cascades Inc.
    • Pregis Corporation
    • Ranpak Corp
    • Storopack Hans Reichenecker GmbH
    • Advanced Protective Packaging Ltd

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global protective packaging market was valued at around US$ 31788.0 Million in 2021.
Significant growth of manufacturing industries and growing urban population are the factors fuelling the market.
Inflatable packaging is gaining traction in the market as it offers a high level of protection at a low cost.
Growing concern over environment and strict regulations are expected to hinder the market.
Major players operating in the market include Sonoco Products Company, Sealed Air Corporation, Packaging Corporation of America, ACH Foam Technologies, Inc., BASF SE, Cascades Inc., Pregis Corporation, Ranpak Corp., Storopack Hans Reichenecker GmbH, and Advanced Protective Packaging Ltd.
The market is estimated to grow at around 5.92 % CAGR during the forecast period (2022-2030).

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