WASHINGTON, April 25, 2022 (GLOBE NEWSWIRE) -- The Global Dunnage Packaging Market size is expected to reach over USD 5.06 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The Global Market revenue in the year 2021 stood at a value USD 3.82 Billion.
Market Synopsis
A protective packaging used in logistics and transportation operations to avoid damage which can affect the quality of the product during the handling is Dunnage Packaging Market. Many consumables are being transported on a daily basis from one place to another, and it is likely to increase the Dunnage Packaging Market during the forecast period, states Vantage Market Research, in a report, titled “Dunnage Packaging Market Size, Share & Trends Analysis Report by Material (Corrugated Plastic, Molded Plastic, Foam, Steel), by End-User (Automotive, Aerospace, Electronics, Food & Beverages), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Dunnage Packaging Market:
- 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)
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Dunnage Packaging market is predicted to grow at a CAGR of roughly 4.8% during the forecast period.
- The Dunnage Packaging market was estimated to be worth roughly USD 3.82 Billion in 2021 and is expected to reach USD 5.06 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Dunnage Packaging market.
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Market Dynamics:
Driver: Broad Applications of Dunnage Packaging Market
Dunnage Packaging Market provides many advantages for instance, it allows innovations and new design flexibility, provides proper cushioning, cost-effectiveness, eco-friendly and resistive to abrasive conditions & external heat. Hence, it becomes efficient in end use sectors such as automotive, construction, food & beverage, and electronics. The increase in retail and e-commerce business is also the reason which fuels the Dunnage Packaging Market growth in the future.
There are different types of material for Dunnage Packaging Market available in the market such as plastic, fiber, paper, wood, and metals in which paper usage is likely to increase in the coming years since it solves the issue of sustainability owing to its reusability and recyclability properties. Owing to all the aforementioned factors, the market for Dunnage Packaging Market is likely to flourish in the coming years.
Segmentation of Dunnage Packaging Market:
By Material -(Revenue- USD Million, 2016-2028)
- Corrugated Plastic
- Molded Plastic
- Foam
- Steel
- Aluminum
- Wood
- Fabric Dunnage
- Corrugated Paper
- Others
By End-User -(Revenue- USD Million, 2016-2028)
- Automotive
- Aerospace
- Electronics
- Food & Beverages
- Consumer Durables
- Healthcare
- Others
By region- (Revenue- USD Million, 2016-2028)
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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Restraint: Huge Set-up Costs Involved
However, the dunnage solutions production which are customizable is a capital-intensive practice and involves huge set-up cost to set-up an initial manufacturing plant of the product. Furthermore, swift technological advancements expanded the innovative equipment manufacturing, which is expensive to buy. Market players having huge investment capabilities are expected to enter the market since, the return on investment in the long run is high.
Regional Trends
Asia Pacific dominated the market share and is expected to retain its dominance in the forecast period. This growth is attributed to the increasing demand for packaging solutions which are reusable from nations, including India and China, as this type of packaging make sure the safety of packaged products, cost savings, and partial sustainability.
The increasing application in the healthcare, food & beverages, and FMCG sector is expected to propel further the regional market growth. Other factors, such as, instead of single-use packaging solutions usage of multi-use packaging is increasing, industrialization, increasing consumer awareness associated with sustainable and green packaging materials coupled with reducing wastage in packaging are likely to spur the demand of the market in the Asia Pacific.
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Recent Developments
• February, 2020: Szkaliczki & Partners Holding Ltd. And Nefab AB signed an agreement under the latter seeks to acquire 100% of the shares of Szkaliczki & Partners Plastic Processing Ltd in Hungary.
• May, 2021: ORBIS Corporation Expands Dunnage Offerings with New Fabric for Optimal Protection of Delicate Automotive. It is suitable for soft divider sets, hanging bags for lightweight parts, and extra-delicate Class-A components, chrome, and painted parts with Offerings with New Fabric for Optimal Protection of Delicate Automotive.
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Dunnage Packaging Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Dunnage Packaging Market Size, Share & Trends Analysis Report by Material (Corrugated Plastic, Molded Plastic, Foam, Steel), by End-User (Automotive, Aerospace, Electronics, Food & Beverages), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/dunnage-packaging-market-516041
The report on Dunnage Packaging Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Dunnage Packaging Market?
- How will the Dunnage Packaging Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Dunnage Packaging Market?
- What is the Dunnage Packaging market drivers and restrictions?
- What will be the CAGR and size of the Dunnage Packaging Market throughout the forecast period?
This market titled “Dunnage Packaging Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Material • Corrugated Plastic • Molded Plastic • Foam • Steel • Aluminum • Wood • Fabric Dunnage • Corrugated Paper • Others • End-User • Automotive • Aerospace • Electronics • Food & Beverages • Consumer Durables • Healthcare • Others • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • 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) |
| Report Coverage | 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 impact analysis |
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