Rising Urbanization and Food and Beverage Industry to Thrive Market
Dunnage Packaging Market is estimated to witness significant growth over the forecast period; owing to, increasing demand for Dunnage Packaging from automotive, electronics, aerospace, and food & beverage industries. Several types of materials are used for Dunnage Packaging such as corrugated plastic, molded plastic, foam, steel, aluminum, wood, fabric dunnage, and corrugated paper. So other packaging materials include glass, rubber, and anti-static materials. These packagings have applications in almost all wide sectors such as automotive, aerospace, electronics, food & beverages, consumer durables, and healthcare. In addition, Dunnage Packaging have applications in some other industries such as construction, oil & lubricants, and chemicals.
The demand for Dunnage Packaging from the food and beverages industries is increasing at an unprecedented level. Mounting demand for lightweight packaging products and rising consumer preferences in relation to packaged and fresh food is anticipated to drive the market for dunnage packing. As packaging holds the aroma and flavor of food & beverages, the consumers are preferring more of packaged and fresh food. These packaging also helps to store the beverages or food in their original form. In addition, it helps provide them with a long shelf life which is anticipated to propel the growth of the market for dunnage packing. On the other hand, the stringent government regulations can act as restrain and hamper the market growth over the forecast period.
What Will Be the Market By 2028?
Our report on Dunnage Packaging Market has covered the study of the latest development and investment in the market. In addition, report covers the value chain analysis, regulatory analysis, market attractiveness analysis, and Porter’s five forces analysis, for Dunnage Packaging.
Additionally, our report includes market drivers, restraints, and opportunities along with COVID-19 impact analysis, historical & descriptive analysis, and forecasts & predictive analysis. The Global Dunnage Packaging Market valued at USD 3.82 Billion in 2021 and is expected to reach USD 5.06 Billion by the year 2028. The Global Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.8%.
Some of the key players in the Dunnage Packaging Market include DS Smith (UK), Menasha Corporation (US), Schoeller Allibert (Netherlands), Myers Industries (US), Nefab (Sweden), UFP Technologies (US), Reusable Transport Packaging (Florida), Amatech Inc. (US), MJSolpac Ltd. (UK), Rehrig Pacific Company (US) and others.
The Asia Pacific is estimated to dominate the Dunnage Packaging Market over the forecast period of 2021-2028. The presence of countries such as India and China which are the most populated countries in the world which are providing an enormous base population of consumers. Thus, owing to the large base population present in this region, the demand for Dunnage Packaging is increasing and is further expected to grow the market over the forecast period.
Moreover, there is an upsurge in the growth of industrial and commercial sectors in the Asia Pacific region. Thus, further anticipated to drive the Dunnage Packaging Market in the region over the forecast period.