The protective packaging market size is projected to grow from USD 29.8 billion in 2021 to USD 38.8 billion by 2026, at a CAGR of 5.4%. The protective packaging market is growing owing to development of industrial goods, food & beverage, consumer electronics, and others sectors, which has lead to increase in demand for protective packaging of various products.
Protective packaging is used to protect the product from damages such as shock, vibration, moisture, and compression during transportation, handling, and storage of products at warehouses. It offers features such as thermal & electrical insulation, shock dampening, fireproofing, and atmospheric protection to packed products.
"Foam plastics is the largest material segment of the protective packaging market”
The protective packaging market is segmented on the basis of material into foam plastics, paper & paperboard, plastics, and others. The foam plastics material segment accounted for the largest market share. The large market share is attributed to its lightwieight, good thermal insulation, and shock-absorbing properties, which are suitable for protective packaging.
’Flexible protective packaging is the largest type segment of the protective packaging market”
The global protective packaging market is segmented on the basis of type into flexible protective packaging, rigid protective packaging, and foam protective packaging. The flexible protective packaging segment is expected to account for largest market share. This is attributed to the increasing demand for recyclable and cost-effective materials.
“Cushioning is the largest function segment of the protective packaging market”
The global protective packaging market is segmented on the basis of function into cushioning, void fill, wrapping, insulation, and blocking & bracing. Cushioning is projected to account for largest market share, as it protects fragile and lightweight items from damage during transportation and warehousing. Also, it restrains movement of the packed product and prevents damage from shock and vibration during transportation.
“Industrial goods is the largest application segment of the protective packaging market”
The global protective packaging market is segmented on the basis of application into industrial goods, food & beverage, healthcare, consumer electronics & appliances, automotive, household appliances, and others. Industrial goods accounted for largest market share. This is attributed to the rapid growth of industrial sector and transportation of intermediate goods for aerospace, electrical, and machinery goods for manufacturing.
“APAC is the largest market for protective packaging market”
The APAC region is the largest and fastest-growing protective packaging market. China is the largest and fastest-growing market in the region and is projected to dominate the regional market in the next five years. Key factors such as industrialization, rising internet penetration, growing manufacturing activities, increasing disposable income, rising consumption level, and the growing e-retail sales will drive the market during the forecast period.
The breakdown of primary interviews is given below:
- By Department: Sales/Export/Marketing – 53.5%, Production – 23.3%, and R&D –23.3%
- By Designation: Managers – 60.5%, CXOs – 23.3%, and Executives – 16.3%
- By Region: North America – 33%, Europe – 27%, APAC – 25%, Middle East & Africa – 10%, and South America – 5%
The key companies profiled in this report on the protective packaging market include Smurfit Kappa (Ireland), Sealed Air Corporation (US), Sonoco (US), Huhtamaki (Finland), DOW (US), are key players in protective packaging market.
The protective packaging market has been segmented based on material, type, function, application, and region. This report covers the protective packaging market and forecasts its market size until 2026. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the protective packaging market. The report also provides insights into the drivers and restraints in the protective packaging market along with opportunities and challenges. The report also includes profiles of top manufacturers in the protective packaging market.
Reasons To Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
- This report segments the protective packaging market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
- This report is expected to help stakeholders understand the pulse of the protective packaging market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
- This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the protective packaging market and gain insights to improve the position of their businesses.
- The competitive landscape section includes detailed information on strategies, such as merger & acquisition, new product developments, expansions, and collaborations.