Increasing E-Commerce Industry & Growth in Packaging Industry in APAC is driving the Protective Packaging Market
As stated in our extensive report, providing insights on Type, Material, Function, and Application; the Global Protective Packaging Market accounted for USD 29.18 Billion in 2021.
In recent years, the packaging industry is increasing owing to the high demand for packaged products. Increasing expectations of consumer and retailer, price constraints, and more stringent regulatory demands is the major factor driving the market. Also, the growth of convenience packaging is a major driver fueling the market growth. These are some of the major factors to promote the Global Protective Packaging Market.
Protective packaging is a substantial part of the ever-growing food, consumer, and e-commerce industry. Protective packaging is a complex process and the diversification of food packaging, consumer packaging, and e-commerce packaging, requires different materials and containers. Proper design and adoption of a package extends the shelf life of the product and is convenient for the users, thus saving material costs regarding wastage. Moreover, the packaging materials utilized for glass, polymers, metals, and paperboards along with their combinations. The utilization of different materials is decided as per the shelf life of the food, the chemical and mechanical composition of the product, and the value of the product that is to be packed.
The Global Protective Packaging Market has been adversely affected in recent months due to the outbreak of the pandemic, COVID-19, in December 2019. The outbreak has resulted in numerous countries imposing lockdowns and shutting down businesses except for essential services (allowed with minimum workforce). Several businesses have increased their focus on profitability and reduced their expenses in analytics, which is decreasing the demand for protective packaging products.
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in the coming years owing to the high demand for protective packaging products in the retail sector. Countries such as the U.S. & Canada are considered to be the most developed countries in the field of packaging technology. These are a few of the reasons is expected to grow in the coming years.
Developing economies like India, China, and the Middle East are considered to gain huge opportunities in the adoption of protective packaging. The Asia Pacific held the largest share of the Protective Packaging Market in 2021, followed by Europe and North America. In major parts of the world, the market is still growing owing to insufficient funds, lack of awareness, minimum availability of Research and Development (R&D) facilities, underdeveloped IT infrastructure, and social constraints.
Major players of the Global Protective Packaging Market such as Sealed Air Corporation, Crown Holdings Inc, Sonoco Products Company, Winpack Ltd, Smurfit Kappa Group, DS Smith Plc, WestRock Company, Schur Flexibles Holding GesmbH, Greif, International Paper Company, Nefab Group, Cascades Inc.
Browse the full Report - Protective Packaging Market Size, Share & Trends Analysis Report by Type (Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging), by Material (Foam Plastics, Paper & Paperboard, Plastics, Others), by Function (Cushioning, Blocking & Bracing, Void Fill, Insulation), by Application (Food & Beverage, Industrial Goods, Healthcare, Automotive), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)