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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Protective packaging is designed to provide protection and prevent damages to the product during shipment and storage. Protective packaging helps to protect the product by conserving 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.

The global protective packaging market is estimated to be valued at US$ 31,766.5 million in 2021 and is expected to exhibit a CAGR of 5.3% over the forecast period (2021-2028).

Recent Developments:

  • In October 2021, Compass Diversified-Backed Altor Solutions, Inc. Announces Acquisition of Plymouth Foam. With the help of this acquisition the company aims to strengthens its status as a leading provider of packaging and componentry solutions through an expanded geographic presence
  • In September 2021, Tekni-Plex has acquired Keyes Packaging Group. The acquisition adds Tekni-Plex to its tray and flats portfolio, strengthening its offerings to customers in the food and beverage industry.

Figure 1. Global Protective Packaging Market Value (US$ Mn), by Region, 2020

Protective Packaging  | Coherent Market Insights

North America held dominant position in the global protective packaging market in 2020, accounting for 28% share in terms of value, followed by Asia Pacific excluding Japan and Western Europe, respectively.

Drivers:

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

The rise in the urban population around the globe is expected to propel the market growth of cosmetic packaging. According to the United Nations, 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 the 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.

Market Opportunities

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 showcases sustainable packaging innovations at LUXE PACK New York, Eastman Tr?va™ engineering bioplastic, and Cristal EV600™ copolyester. They can serve as a direct replacement for ABS and enables opportunities for downgauging 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 bright market opportunities over the forecast period. Growing trading of the pharmaceutical products coupled with the rise in the geriatric population around the globe is creating a need for healthcare products such as devices and drugs. Also, increasing adoption of the advanced and reliable packaging solution in the pharmaceutical industry is propelling the market growth of the protective packaging. 

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Protective Packaging Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 31,766.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.3% 2028 Value Projection: US$ 46,368.9 Mn
Geographies covered:
  • Region: North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and MEA
Segments covered:
  • By Product Type: Foamed Plastic, Paper, Plasti
  • By Material Type: Foam Protective Packaging, Flexible Protective Packaging, Rigid Protective Packagin
  • 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 and urbanization 
Restraints & Challenges:
  • Strict rules &regulations
  • Growing environmental concerms 

Market Trends

Inflatable packaging is gaining traction in the market as they offer a high level of protection at a low cost. Moreover, factor such as environment friendly than other bulkier alternatives is again propelling product demand. Furthermore, they offer a greater level of shock absorption capability and protection to the packaged product. Additionally, the inflatable packaging has drastically reduced the damages and cost during the supply chain. Thus growing demand for inflatable packaging is propelling 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 acquired e Pregis LLC, a provider in protective packaging materials and automated systems manufacturer, from Olympus Partners. Thus growing such strategic merger and acquisition among key manufacturers is projected to support the market growth of the protective packaging over the forecast period.

Figure 2. Global Protective Packaging Market Share, By Product Type, 2020

Protective Packaging  | Coherent Market Insights

Key Takeaways of the Graph:

  • By Product Type, the flexible protective packaging segment held dominant position in the market and accounted for 66.7% share in the global protective packaging market in 2020. The segment is expected to reach US$ 31,852.6 million in 2028 owing to ease of use.

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 increase the generation of waste materials after the unpacking of the products.

The issue associated with the foamed plastic in the protective packaging is expected to hamper the market growth. Foamed plastic is a non-biodegradable raw material and take years to decompose. Thus, the growing demand for biodegradable raw materials in the protective packaging industry is projected to hamper the market growth.

Competitive Section:

Company Names 

  1. Sonoco Products Company
  2. Sealed Air Corporation
  3. Packaging Corporation of America
  4. ACH Foam Technologies, Inc.
  5. BASF SE
  6. Cascades Inc.
  7. Pregis Corporation
  8. Ranpak Corp.
  9. Storopack Hans Reichenecker GmbH
  10. Advanced Protective Packaging Ltd

Recent Developments

In August 2020, Sealed Air Corporation has announced it has signed a collaboration agreement with Plastic Energy, a company involved in advanced recycling technology.

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. However, 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 is expected to drive growth of the protective packaging market. Advancement in technology is again projected to foster growth of the market. For instance, in September 2021, Pregis has partnered with German chemical and consumer goods company Henkel to develop sustainable protective packaging solutions for commercial launch.

However, growing environmental concerns due to waste generated by protective packaging is projected to hinder growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the protective packaging market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  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 highlights, products portfolio, key highlights, financial performance, and strategies
  • 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 the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global protective packaging market report caters to various stakeholders in this industry including investors, suppliers, product 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 Material Type:
    • Foamed Plastic
    • Paper
    • Plastic
  • Global Protective Packaging Market, By Product Type:
    • Foam Protective Packaging
    • Flexible Protective Packaging
    • Rigid Protective Packaging
  • Global Protective Packaging Market, By Function Type:
    • Wrapping
    • Void Fill
    • Insulation
    • Cushioning
    • Blocking & Brace
  • Global Protective Packaging Market, By Region:
    • North America
      • By Material Type
        • Foamed Plastic
        • Paper
        • Plastic
      • Product Type
        • Foam Protective Packaging
        • Flexible Protective Packaging
        • Rigid Protective Packaging
      • Function Type
        • Wrapping
        • Void Fill
        • Insulation
        • Cushioning
        • Blocking & Brace
      • By Country
        • Canada
        • U.S.
    • Europe
      • By Material Type
        • Foamed Plastic
        • Paper
        • Plastic
      • Product Type
        • Foam Protective Packaging
        • Flexible Protective Packaging
        • Rigid Protective Packaging
      • Function Type
        • Wrapping
        • Void Fill
        • Insulation
        • Cushioning
        • Blocking & Brace
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • By Material Type
        • Foamed Plastic
        • Paper
        • Plastic
      • Product Type
        • Foam Protective Packaging
        • Flexible Protective Packaging
        • Rigid Protective Packaging
      • Function Type
        • Wrapping
        • Void Fill
        • Insulation
        • Cushioning
        • Blocking & Brace
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Material Type
        • Foamed Plastic
        • Paper
        • Plastic
      • Product Type
        • Foam Protective Packaging
        • Flexible Protective Packaging
        • Rigid Protective Packaging
      • Function Type
        • Wrapping
        • Void Fill
        • Insulation
        • Cushioning
        • Blocking & Brace
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Material Type
        • Foamed Plastic
        • Paper
        • Plastic
      • Product Type
        • Foam Protective Packaging
        • Flexible Protective Packaging
        • Rigid Protective Packaging
      • Function Type
        • Wrapping
        • Void Fill
        • Insulation
        • Cushioning
        • Blocking & Brace
      • By Sub-Region
        • 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.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Material Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Protective Packaging Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Protective Packaging Market – COVID-19
    • Impact Analysis
  5. Global Protective Packaging Market, By Material Type, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Foamed Plastic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Paper
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    • Plastic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
  6. Global Protective Packaging Market, By Product Type, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Foam Protective Packaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    •  Flexible Protective Packaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    •   Rigid Protective Packaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
  7. Global Protective Packaging Market, By Function, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Wrapping
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    •  Void Fill
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    •   Cushioning
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
    •   Blocking & Bracing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & Tons)
  8. Global Protective Packaging Market, By Region, 2017- 2028 (US$ Mn & Tons)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, For Region, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Material Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Function, 2020, 2022 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Material Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Function, 2020, 2022 and 2028 (%)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Material Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Function, 2020, 2022 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Material Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Function, 2020, 2022 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Share Analysis, By Material Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Function, 2020, 2022 and 2028 (%)
      • By Region
        • Middle East
        • Africa
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Sonoco Products Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Sealed Air Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Packaging Corporation of America
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • ACH Foam Technologies, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • BASF SE
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cascades Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Pregis Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Ranpak Corp
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Storopack Hans Reichenecker GmbH
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Advanced Protective Packaging Ltd
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Pressure Sensitive Adhesives Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The global protective packaging market size is estimated to be valued at US$ 31,766.5 Million in 2021 and is expected to exhibit a CAGR of 5.3% between 2021 and 2028.
Increasing manufacturing industries and growing urban population are the factors fuelling growth of the market.
The plastic segment is the leading material type segment in the market.
Growing concern over environment and strict regulations is expected to hinder growth of 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
North Americsa region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by rising demand from various end-use industries, especially from consumer electronics and healthcare markets.
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