Protective Packaging Market Size to Grow USD 28120 Million by 2028 at a CAGR of 3.2% | Valuates Reports
BANGALORE, India, Nov. 9, 2023 /PRNewswire/ -- Protective Packaging Market is Segmented by Type (Paper & Paperboard, Foam Plastics), by Application (Consumer Electronics, Food & Beverage, Personal Care Products, Medical Care, Machinery and Equipment)): Global Opportunity Analysis and Industry Forecast, 2023-2028. It is Published in Valuates Reports Under the Category of Packaging.
Protective Packaging, estimated at USD 23250 Million in the year 2022, is projected to reach a revised size of USD 28120 Million by 2028, growing at a CAGR of 3.2% during the forecast period 2022-2028.
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Major Factors Driving the Growth of Protective Packaging Market:
The worldwide protective packaging market has been driven by the growth of the e-commerce sector and industrial operations, and it is expected to continue growing at a strong pace over the next five years. The growing consumer expenditure on packaged goods and online shopping is driving the need for protective packaging.
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TRENDS INFLUENCING THE GROWTH OF THE PROTECTIVE PACKAGING MARKET:
The protective packaging industry has been driven in large part by the explosive rise of e-commerce. Protective packing materials are in greater demand as more people buy online in order to guarantee that their purchases arrive at their doorsteps undamaged. Protection packaging needs have increased because of the spike in e-commerce sales, especially during the COVID-19 epidemic. To satisfy the demands of Internet merchants and improve the consumer experience, businesses are investing in cutting-edge packaging solutions. Sustainability is now the packaging industry's top priority. Governments are placing tighter restrictions on packaging materials, and consumers are becoming more interested in eco-friendly packaging solutions. This has prompted the use of efficient and ecologically friendly protective packaging solutions.
The market for protective packaging is growing thanks in large part to the food and beverage sector. Manufacturers are concentrating on packaging methods that increase the shelf life of their products and preserve their quality throughout transit due to the rising demand for packaged and convenient meals. In order to comply with these regulations, protective packaging—which includes barrier films, packaging for a changed environment, and materials sensitive to temperature—is essential. Better protective packaging options have been made possible by the development of new materials and technologies. Novelties like intelligent packaging, which tracks the state of the goods while it's being shipped, are becoming more and more common. Furthermore, the development of high-performance materials like air pillows, bubble wrap, and foam plastics has improved the protective qualities of packaging materials, guaranteeing that breakable objects reach their destination undamaged.
Specialised protective packaging is needed by the pharmaceutical and healthcare sectors to preserve expensive medical devices and pharmaceuticals. The need for packaging that satisfies strict quality and safety requirements has been fueled by the expansion of these businesses, especially in emerging economies. The demand for temperature-controlled, contamination-resistant, and tamper-evident packaging solutions is driving growth in the protective packaging industry. The restaurant and catering industries' need for protective packaging has increased due to the expansion of online meal delivery services. The effectiveness of these services depends on packaging that preserves freshness, keeps food hot or cold, and stops leaks. Food quality must be maintained throughout transportation and a satisfactory consumer experience must be guaranteed thanks to protective packaging.
Protective packaging is a tool used by businesses to improve consumer perception and brand image. Personalised and attractive packaging not only keeps goods safe but also gives customers a high-end, unforgettable experience. The protective packaging industry is expanding as a result of companies using packaging as a marketing strategy in the face of increased competition.
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PROTECTIVE PACKAGING MARKET SHARE ANALYSIS
The market for protective packaging is developed and heavily regulated in North America. Major participants include the US and Canada, with an emphasis on sustainability and environmentally friendly packaging materials. The need for protective packaging in this area is driven by the expansion of e-commerce and the robust presence of sectors like electronics and healthcare. Players in the market are always making investments in cutting-edge, ecologically friendly packaging solutions.
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Key Players:
- Smurfit Kappa Group PLC
- ROCKTENN COMPANY
- Sealed Air Corporation
- Sonoco Products Company
- Huhtamaki
- DS Smith Plc
- Pregis Corporation
- Pro- Pac Packaging Limited
- STOROPACK HANS REICHENECKER GMBH
- The DOW Chemical Company
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SIMILAR REPORTS
- Paper Protective Packaging market is projected to reach USD 23320 million in 2029, increasing from USD 174030 million in 2022, with the CAGR of 4.6% during the period of 2023 to 2029.
- High Pressure Protective Packaging Film Market
- Protective Packaging and Void Fillers market is projected to reach USD 799.3 million in 2029, increasing from USD 525 million in 2022, with the CAGR of 5.4% during the period of 2023 to 2029.
- ESD Protective Packaging Market
- Protective Packaging for Shipping Market
- Protective Packaging Machine Market
- Medical Sterile Protective Packaging Market
- Flexible Protective Packaging Market
- Plastic Protective Packaging Market
- ESD Protective Packaging Market
- Protective Packaging Systems Market
- VCI Packaging Films market is projected to reach USD 505.9 million in 2029, increasing from USD 316 million in 2022, with the CAGR of 6.9% during the period of 2023 to 2029.
- Volatile Corrosion Inhibitors (VCI) Packaging market is projected to grow from USD 678.5 million in 2023 to USD 898.9 million by 2029, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period.
- Expanded Polypropylene Protective Packaging market is projected to reach USD 117.5 million in 2029, increasing from USD 92 million in 2022, with the CAGR of 3.6% during the period of 2023 to 2029.
- Packaging Design and Simulation Technology Market
- Multi-Med Adherence Packaging market size is projected to reach USD 531.3 Million by 2027, from USD 405.8 Million in 2020, at a CAGR of 3.5% during 2021-2027.
- Packaging Inks and Coatings Market
- Ice Cream Paper Packaging Market
- Flexible Lid Stock Packaging Market
- Baby Food Flexible Packaging Market
- Blister Packaging market size is projected to reach USD 23570 Million by 2027, from USD 17490 Million in 2020, at a CAGR of 5.1% during 2021-2027.
- Pharmaceutical Blister Packaging market was valued at USD 16980 million in 2022 and is anticipated to reach USD 26880 million by 2029, witnessing a CAGR of 6.7% during the forecast period 2023-2029.
- 3D Semiconductor Packaging market was valued at USD 1829.9 million in 2022 and is anticipated to reach USD 4646.1 million by 2029, witnessing a CAGR of 16.8% during the forecast period 2023-2029.
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