Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global protective packaging market is anticipated to grow from USD 23.30 billion in 2019 to USD 42.45 billion by 2027, at a CAGR of 5.67% during the forecast period 2020-2027. The North American market has the largest share in the global protective packaging market; however, the Asia-Pacific (except Japan) has the most significant CAGR. Europe has held the second-largest share; expected to have steadily grown in forecasted years; followed by South America & MEA. India has anticipated being the most promising and emerging market for protective packaging. The market has the optimum potential to expand its dimensions all over the globe.
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Some of the essential players in the market are Pro-Pac Packaging, Storopack Hans Reichenecker, Smurfit Kappa Group, Sonoco Products Company, WestRock Company, Huhatamaki, Ranpak Corporation, Pregis Corporation, and Dow packaging company, Sealed Air Corporation, Wisconsin Foam Products and DS Smith.
Ali Kayan (SIG’s vice president of global marketing) explores how different packaging could be in the future. Over the further few decades, food and water deficiencies are set to become an increasing world issues. To serve problems such as food waste and loss, protective packaging will play a vital role in making food safer and more available as it’s transported over higher distances and needs to stay fresher for longer.
Packaging is one of the most crucial operations of any manufacturer. The packaging defines the quality of the product. So, in export & import packaging plays the most critical role. The flexible protective packaging is the dominating segment of the market. The flexible packaging observed to be most protective, efficient & cost beneficial. The flexible packaging is also growing with highest CAGR compare others in the segment. This growth can be connected to flexible protective packaging as it is among those innovative modes of protective packaging that help in terms of their security of usage and portability. The foam plastic material is highly used material; as it is mostly used for flexible packaging. Based on function, the cushioning segment is having the largest share, while the food & beverage segment dominated the applications of protective packaging. The protective packaging plays a vital role in food beverages & health care; as it protect the goods from sunlight, air & moisture; and reduce the possibility of damage & contamination.
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About the report:
The global protective packaging market is analysed on the basis of value (USD Million/Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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