WASHINGTON, Oct. 19, 2022 (GLOBE NEWSWIRE) -- According to a report by Vantage Market Research, the Global Protective Packaging Market was worth USD 29.18 Billion in 2021 and is expected to be worth USD 39.78 Billion by 2028, with a CAGR of 5.3% between 2022 and 2028. The report gives an in-depth look at the top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an important and helpful source of information for leading market players, investors, new entrants, and other stakeholders who want to make new plans for the future and take steps to strengthen their position in the market. in a report, titled “Protective Packaging Market Size & Share, Trends Analysis Report by Type (Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging), by Material (Foam Plastics, Paper & Paperboard, Plastics, Others), by Function (Cushioning, Blocking & Bracing, Void Fill, Insulation), by Application (Food & Beverage, Industrial Goods, Healthcare, Automotive), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
What’s New Update for 2022?
- Worldwide competitiveness and key competitor percentage market size & shares
- Market presence across multiple regions – Strong/Active/Niche
- Online interactive peer-to-peer collaborative bespoke updates
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What is Protective Packaging? How Big is Protective Packaging Market Size?
Market Dynamics:
Drivers:
Consistently Growing Population and Resulting Preference for Packaged Food and Rising E-Commerce Industry
Globally population is increasing at its unprecedented level, and need for food is also increasing in similar manner. Owing to increasing population and changing busy lifestyle, is increasing the adoption of packed foods. In turn: increasing the demand for protective packaging materials thereby offering scope for the Protective Packaging Market. Additionally, increasing regulation regarding environmental safety is increasing the demand for bio degradable packaging materials.
Since past few years, E-Commerce industry has witnessed significant growth. The changing trend to online shopping is increasing. Thus, the demand for protective packaging materials is increasing further propelling the market growth over the forecast period.
List of Prominent Players in the Protective Packaging Market:
- Sealed Air Corporation
- Crown Holdings Inc
- Sonoco Products Company
- Win pack Ltd
- Smurfit Kappa Group
- DS Smith Plc
- WestRock Company
- Schur Flexibles Holding GesmbH
- Greif
- International Paper Company
- Nefab Group
- Cascades Inc
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Key Insights and Findings from the In-depth Report:
- The foam Protective Packaging segment dominated the market growth at a substantial Compound Annual Growth Rate (CAGR). The increase in demand for safe packaging with polyurethane provides efficient protection to the goods, are accentuated the segment growth in 2021.
- The industrial goods segment held a significant market share in 2021. The market growth has been spurred by the usage of goods in different markets such as automotive, electronic consumers, pharmaceuticals, and also in households.
- Asia Pacific is the largest regional segment owing to rapid urbanization and industrialization in countries such as China and India. Thus, the presence of such countries in the region is further propelling the market growth in the region over the forecast period.
Rising Demand for Protective Packaging Materials from Healthcare and Consumer Electronics Industry
Since past few decade, consumer electronics industry has witnessed significant growth. Now a days, the trend is changing to online shopping. This is owing to busy lifestyles, availability if several options of products, several bonuses and discount facilities. These factors are motivating population for online shopping. Thus, along with increase in online shopping trend, the product safety is the major concern. Thus, safe and protective packaging is required which is increasing the demand for protective packaging materials further propelling the market growth over the forecast period.
Additionally, since COVID-19 outbreak the demand for pharmaceuticals and other healthcare products has increased drastically and increasing with each passing day. Thus, in turn; increasing the demand for protective packaging materials further propelling the market growth over the forecast period.
Segmentation of the Global Protective Packaging Market -
- Type
- Rigid Protective Packaging
- Flexible Protective Packaging
- Foam Protective Packaging
- Material
- Foam Plastics
- Paper & Paperboard
- Plastics
- Others
- Function
- Cushioning
- Blocking & Bracing
- Void Fill
- Insulation
- Wrapping
- Application
- Food & Beverage
- Industrial Goods
- Healthcare
- Automotive
- Cushioning
- Household Appliances
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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COVID-19 Impact Analysis:
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 electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. 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
Key Aspects Covered in The Report:
- Market size and growth rate during the forecast period.
- The key companies are listed with their company profiles
- Product spectrum of this vertical with comprehensive details.
- Application spectrum with validated statistics and figures.
- In-depth understanding of changing dynamics and major micro markets.
- Growth prospects among the leading and emerging nations
Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Protective Packaging Market Forecast Report (2022-2028).
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Regional Analysis:
Asia Pacific Holds Maximum Market Share
Asia Pacific is expected to dominate the growth of Protective Packaging Market in 2021. The major driving factors for the market are presence of emerging economies in the region. Additionally, presence of one of the most populated countries in the world such as China and India are offering the opportunity for the market. Moreover, growing e-retail sales as well as growing manufacturing activities and increasing disposable income is further propelling the market growth over the forecast period.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 29.18 Billion |
| Revenue Forecast by 2028 | USD 39.78 Billion |
| CAGR | 5.3% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players |
|
Recent Developments:
April 2021: Align Technology and DECA Dental Group, which has over 100 affiliated dental practices in the U.S., extended their partnership by signing an agreement for Invisalign systems till the end of 2025.
July 2021: Smurfit Kappa acquired Carton box, a folding carton company located in Monterrey, in the North-East of Mexico. This will help the company in strengthening its participation in the paper packaging solutions business in Mexico and expand its footprint to four folding carton locations in the country.
August 2020: Sealed Air Corporation announced that it had signed a collaboration agreement with Plastic Energy, an industry-leading company in advanced recycling technology. Additionally, Sealed Air has made an equity investment in Plastic Energy Global, the parent company of Plastic Energy.
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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- Bulk Container Packaging Market was valued at USD 3.7 Billion in the year 2021 and is forecast to reach a value of USD 6.3 Billion by the year 2028: https://www.vantagemarketresearch.com/industry-report/bulk-container-packaging-market-1716
- Top Companies in the Protective Packaging Market: https://v-mr.biz/protective-packaging-market
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