23-Jun-2022 | Zion Market Research
The global protective packaging market was worth around USD 29.5 billion in 2021 and is estimated to grow to about USD 39.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.2 percent over the forecast period.
Packaging is an essential component of marketing and protective packaging is even more essential in retaining a product's quality from the time of manufacturing until the time it is delivered to the end-user. Protective packaging helps in preserving the product from any sort of damage throughout the logistic process. Safe packaging assists in preventing the products from being damaged due to humidity, heat, light, or any other external factor.
The global protective packaging market is an extremely diverse market since the protective coating on the product varies from industry to industry and as a matter of fact, from one product to another. Some of the safe packaging solutions are tailor-made and very specific to the product being packed whereas in some cases, the general protective coverings can be used. For example, safety coverings used in healthcare or pharmaceutical products need minimum human intervention to avoid any sort of contamination. However, packaging for personal care has to be attractive as well to appeal to more consumers.
The global market took a hit during the onset of Covid-19 owing to the seriousness of the pandemic and the closure of all non-essential sectors for a few months. The demand for protective packaging was reduced because of the closure of all kinds of transportation modes, however, the product demand in the pharmaceutical industry and healthcare sector was still high.
The E-commerce sector is an overnight success in today’s commercial and digitalized age. With the presence of the internet in even the remotest of places, the e-commerce industry is able to provide access to all sorts of products online through electronic gadgets. During Covid-19, e-commerce was able to penetrate the markets which were left behind earlier. This changed the game of consumer buying patterns and a major shift was observed toward online shopping. This changing trend has propelled the global protective packaging market growth at a high rate and is expected to grow even higher in the coming years. What makes the global market more dynamic is that the old and traditional methods of packaging can still be used while at the same time intensive R&D and huge investments in modern protective packaging solutions are being carried out worldwide. More efforts are being put into eco-friendly packaging solutions due to rising awareness about the adverse environmental effects of plastic packaging. The rise in the consumer database in the personal care and cosmetics industry is also anticipated to aid the global market growth.
Although strict rules related to packaging materials may hinder the global market growth, however, an increase in international trade globally will provide better growth opportunities for global market expansion. The major challenge faced by the global market is the issue of the efficiency and sustainability of protecting packaging solutions.
The global protective packaging market is categorized into type, material, function, end-use, and region. Based on material, the market is bifurcated into foam plastics, paper & paperboard, and others. The type segment of the market is divided into flexible, rigid, and foam. Functions of protective packaging are categorized into cushioning, blocking & bracing, void fill, and others. By application, the market is split into food & beverage, consumer electronics, household appliances, automotive, industrial goods, and others.
Asia-Pacific is anticipated to generate the highest global protective packaging market revenue and the main reason is the boom in the e-commerce sector in these regions. Countries like India, China, Singapore, and Japan have been moving towards the digitalization of every sector at a high pace. This has propelled the rise of online shopping sites in almost all sectors including pharmaceutical products, homecare, and personal care. The rise in online platforms and subsequent rise in purchases made online is expected to aid the regional market growth.
North America and Europe are projected to contribute significantly to the global market owing to increased purchases made for electronic items like laptops, smartphones, and other gadgets.
Key players functioning in the global protective packaging market include Sealed Air Corporation, Smurfit Kappa, Sonoco, DOW, and Huhtamaki. Primary growth strategies for these market players include mergers and acquisitions, as well as cooperation, to expand their product offerings and geographical presence in order to address the rising demand for protective packaging from emerging markets.
Recent Developments :
Browse the full “Protective Packaging Market By Material (Foam Plastics, Paper & Paperboard, Others), By Type (Flexible, Rigid, Foam), By Function (Cushioning, Blocking & Bracing, Void Fill, Others), By Application (Food & Beverage, Consumer Electronics, Household Appliances, Automotive, Industrial Goods, Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/protective-packaging-market
Global protective packaging market is segmented as follows:
By Category Type
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