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Definition of Market/Industry:

Protective packaging is used to protect the products from various environmental factors such as shock, vibration, magnetic, electrostatic, or atmospheric damage. Protective packaging helps to reduce waste and save money during shipments or storing in the warehouse. They are available in two forms custom or standard. Custom protective packaging solution encompasses precision manufacturing to obtained required specification, comprehensive testing, and innovative design.

Market Statistics:

The global protective packaging market is expected to surpass US$ 46,368.9 Mn in terms of value by the end of 2028.

Drivers:

The expansion of the e-commerce industry is a major factor propelling the market growth of protective packaging. According to Assocham’s Secretary, online shopping has shown significant growth while brick-and-mortar malls are experiencing a slowdown. The growth in e-commerce is promising because of a low base and rising penetration of the Internet. Also, as per the Canadian's survey results, industry players consider that e-commerce has a prime impact on demand for protective packaging for transit, lighter weight packs, and use of recyclable materials.

Market Opportunities

Growth in the food &beverage sector due to rising demand for food and increasing population is expected to offer potential market opportunities in the near future. Increasing spending on the food industry by consumers due to growing health-conscious consumers around the globe is propelling the market growth. Moreover, growth in the agriculture industry around the globe is again augmenting the contributing to the industrial growth of the food &beverage which in in turn to augment the market growth of the protective packaging.

Global Protective Packaging Market: Recent Developments

  • In July 2021, Specialized Packaging Group (SPG), a leading vertically-integrated provider of protective packaging products acquired Bay Area-based Specialized Packaging Solutions (SPS). With the help of this acquisition the company aims to increase ita product portfolio of protective packaging division.
  • In November 2020, Pregis, a leading manufacturer of protective packaging, has acquired Technical Machinery Solutions (TMS). The acquisition of TMS will enable Pregis to add yet another product to its robust e-commerce product offering that supports sustainability.
  • In September 2021, Pregis and Henkel merged together to develop a new sustainable protective packaging solutions that meet environmental goals and address future packaging requirements. The recently rebranded Pregis EverTec lightweight, recyclable paper cushioned mailer, which is manufactured with EPIX technology from Henkel Adhesive Technologies, was the first example of a shipping solution jointly developed to address the growth of ecommerce packaging.

Market Restraints

Frequently changing package case design configuration is projected to hamper the market growth. Retailers are dealing with an extensive range of product stock keeping units (SKUs) along with different sizes, weights, shapes, and fragility levels. This affects the procrastination of packaging delivery and also leads to excessive waste of time and money. This is expected to hinder the market growth of protective packaging.

Global Protective Packaging Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on protective packaging market. However, the market of protective packaging created massive spike in food & beverage application due to growing need to prevent contamination and wastage of food during pandemic.

To know the latest trends and insights prevalent in the Global Protective Packaging Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/protective-packaging-market-3493

Key Takeaways:

  • The global protective packaging market was valued at US$ 30,095.8 Mn in 2020 and is forecast to reach a value of US$ 46,368.9 Mn by 2028 at a CAGR of 5.3% between 2021 and 2028.
  • By Material type, the plastic segment was valued US$ 15,832.5 Mn in 2020 and is expected to witness a CAGR of 5.3% over the forecast period. Plastic offers its application in almost all types of packaging variables, as it offers good thermal insulation and shock-dampening capabilities then expected to grow at a significant rate during the forecast period.

Figure 1. Global Protective Packaging Market Share, By Material Type, 2020

Press Release Image

Market Trends

Shifting preference for paper-based packaging such as Kraft paper and paperboard due to growing environmental concerns is one of the growing trends in the market. Molded pulp is another major protective packaging solution that is produced from recycled paper and water and these are plentiful and accessible on the planet. Moreover, molded pulp offers substantial flexibility, cushioning qualities, and the ability to adapt to the shape of the product in order to provide protection as per the requirement.

Continuous product innovation by key manufacturers is a growing trend in the market and this trend is expected to foster market growth. For instance, in May 2019, Aptar Food + Beverage, part of AptarGroup, Inc. and a provider of a broad range of food protection solutions and proprietary active packaging systems for seafood has launched its SEAWELL™ Protective Packaging System with a national retailer in more than 3,800 store locations. The newly launched product is designed to preserve seafood freshness and maintain optimal quality from sea to table.

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
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