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Protective Packaging Market

Protective Packaging Market

Protective Packaging Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

172

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1457

Segments Covered
  • 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, Wrapping
  • By Application Food & Beverage, Industrial Goods, Healthcare, Automotive, Cushioning, Household Appliances, Others
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 29.18 Billion
Revenue 2028Revenue 2028: USD 39.78 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 5.3%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Protective Packaging Market Share

Market Synopsis

Global Protective Packaging Market is valued at USD 29.18 Billion in the year 2021 and is projected to reach a value of USD 39.78 Billion by the year 2028 growing at a Compound Annual Growth Rate (CAGR) of 5.3% over the forecast period.

Protective Packaging is designed and developed to protect products from damage caused by air, magnetic, static, vibration, or collision. Packages such as materials, boxes, liners, storage containers, and spacers are examples of solutions. Weather, vibration damping, electrical insulation, waterproofing, humidity, and combustion are just a few of the factors that might damage a product while it is being transported or stored. The appropriate protective packing is determined mostly by the type of product being wrapped as well as the surroundings environmental circumstances.

Food safety has become a major concern among consumers across the globe. This has led to increased demand for safer packaging solutions. Moreover, increasing consumer awareness regarding health hazards associated with consumption of contaminated foods, increasing disposable income, and changing lifestyles are some of the major factors driving the growth of the Global Protective Packaging Market. Technological advancements in the field of packaging have led to the introduction of innovative products that offer better protection against contamination.

Furthermore, stringent government regulations regarding food safety across various regions has increased the adoption rate of Protective Packaging solutions. These factors have contributed to the growth of the Global Protective Packaging Market. With rising disposable incomes, people are spending more money on their homes and other lifestyle products. As a result, they are increasingly opting for durable and long-lasting products that can withstand wear and tear. This trend is likely to continue over the forecast period.

Protective Packaging Market Size, 2021 To 2028 (USD Billion)


Market Segmentation:

The Global Protective Packaging Market is segmented by type, material, function, and application. By type, the market is bifurcated as rigid Protective Packaging, flexible Protective Packaging, and foam Protective Packaging. By material, market is segmented as foam plastics, paper & paperboard, plastics, and others. Based on the function, market is bifurcated into cushioning, blocking & bracing, void fill, insulation, and wrapping. By application, market is segmented as food & beverage, industrial goods, healthcare, automotive, cushioning, household appliances, and others.

Below tree is interactive. You can click the nodes to get more information.

Foam Protective Packaging segments holds the largest market share in terms of revenue during the forecast period

The foam Protective Packaging segment has the greatest share of the global market in the established manufacturing end-use market although strong competitors from the flexible and rigid segments. Polyurethane foams, loose fills, foam-in-place polyurethanes, and mouldable foams are examples of foam products.

During the projected period, the flexible protection package category is predicted to hold the biggest market share. This is because there is a growing demand for recyclable and cost-effective materials.

Foam plastics segments holds the largest market share in terms of revenue during the forecast period

The proper selection of packaging material is mostly determined by the type of product being handled as well as the climatic conditions from which the product should be protected. Protective Packaging is made from a variety of materials, including paper and paperboard, plastic, foam plastics, metal, and glass, a ir pillows, edge boards, bubble wraps, corner frames, flexible wraps, moldable packaging, loose fills, and void fillers are examples of specific sorts of items.

The most market share was held by the foam plastics material sector. The high market share is due to its light weight, strong thermal insulation, and shock-absorbing qualities, which make it ideal for Protective Packaging.

Paper & Paperboard segment is emerging in the forecast period owing to its recyclability and reusably factors wich is boosting the growth og the segment in the forecast period. For instance, Smurfit Kappa launched a new packing system in February 2021, for its sustainable TopClip product, a paper-based replacement for plastic shrinkwraps that bundle beverage multi-packs. This packing technique is meant for smaller enterprises and trademarks, but it is also appropriate for beverage firms of all sizes.

Wrapping segments dominates the market share in the forecast period

Wrapping is the most important segment in the global market since it provides a comprehensive and lightweight option to protect products throughout transportation, maintenance, or preservation. As a form of product packaging, it has become an essential component of business tactics such as sales and marketing since it aids in the prevention of product damage and the reduction of losses and returns.

Cushioning is expected to have the highest market share over the projection period since it prevents fragile and lightweight products from breakage during transit and storage. It also limits the movement of the packed product and protects it from deterioration caused by shock and vibration during transportation.

Industrial Goods holds the largest segment of the market

Industrial goods accounted for the largest market share in the forecast period. These items are widely used in a variety of end-use markets, including automotive, aerospace, pharmaceutical, and consumer electronics. Depending on the ultimate application, it is widely employed as a primary or secondary filler. When it comes to the consumer experience in the e-commerce industry, it is critical to consider the consequences of getting a damaged product.

The Asia Pacific region dominated the Protective Packaging Market during the forecast period

Asia Pacific is projected to witness significant growth, of 38.10% of share revenue in the coming years due to the increasing demand from e-commerce industry for the protection of shipped products. Increasing consumer spending, continuous technological advancements, and improvements in manufacturing activities in China, India, Japan, and South Korea are some of the prominent driversfor the market growth in this region. According to the Food Safety Act (FSMA) 2016, the FSMA requires the use of effective and safe packaging material for food products. This act aims to ensure the safety of consumers from harmful contaminants present in food products. As a result, the demand for protective food packaging is likely to increase in the near future.

Competitive Landscape

Some of the major key players in the Global Protective Packaging Market areSealed Air Corporation (US), Smurfit Kappa (Ireland), DS Smith PLC (UK), Sonoco Product Company (US), and Huhtamaki OYJ (Finland).

Segmentation of the Global Protective Packaging Market -

Parameter Details
Segments Covered
  • Type (Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging)
  • Material (Foam Plastics, Paper & Paperboard, Plastics, Others)
  • Function (Cushioning, Blocking & Bracing, Void Fill, Insulation, Wrapping)
  • Application (Food & Beverage, Industrial Goods, Healthcare, Automotive, Cushioning, Household Appliances, Others)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 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
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Protective Packaging Market to Reach Valuation of USD 39.78 Billion by 2028 - Surging Demand for Protective Packaging across Various End-Use Industries to Bloom Market
In terms of revenue, the Global Protective Packaging Market is expected to reach USD 39.78 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.3% from 2022 to 2028. The Global Protective Packaging Market is gaining momentum over the forecast period due to growth in this market can ...
FAQ
Frequently Asked Question
  • The global Protective Packaging valued at USD 29.18 Billion in 2020 and is expected to reach USD 39.78 Billion in 2028 growing at a CAGR of 5.3%.

  • The prominent players in the market are 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.

  • The market is project to grow at a CAGR of 5.3% between 2021 and 2028.

  • The driving factors of the Protective Packaging include

    • Growth of the packaging industry in APAC

  • Asia Pacific was the leading regional segment of the Protective Packaging in 2020.