Protective Packaging Market
Protective Packaging Market - Global Industry Assessment & Forecast
- 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
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 30.51 Billion|
|Revenue 2030:||USD 45.77 Billion|
|Revenue CAGR (2023 - 2030):||5.20%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||Asia Pacific|
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- Region Level Market Share
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Global Protective Packaging Market is valued at USD 30.51 Billion in the year 2022 and is projected to reach a value of USD 45.77 Billion by the year 2030 growing at a Compound Annual Growth Rate (CAGR) of 5.20% 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, 2022 To 2030 (USD Billion)
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.
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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.
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 -
Regions & Countries Covered
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
Frequently Asked Question
What is the global demand for Protective Packaging in terms of revenue?
The global Protective Packaging valued at USD 30.51 Billion in 2022 and is expected to reach USD 45.77 Billion in 2030 growing at a CAGR of 5.20%.
Which are the prominent players in the market?
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.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.20% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Protective Packaging include
- Growth of the packaging industry in APAC
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Protective Packaging in 2022.