Pune, India, March 03, 2022 (GLOBE NEWSWIRE) -- The protective packaging market was estimated to value USD 33,237.32 million in 2021 and is projected to grow at a CAGR of 6.45% during the forecast period, as per a recent comprehensive market study by Quince Market Insights. Protective packaging is designed to prevent damages and provide protection to the product during storage and shipment. Protective packaging helps to protect the product by conserving the fairness of the product.
Rapid growth in the different manufacturing industries worldwide is a major factor which is driving the market growth of protective packaging. Increasing industries such as electronic, automotive, pharmaceutical, etc. In the developing region along with the growing consumer are also anticipated to increase the market growth of the protective packaging over the projected period.
Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-61203
Huge expansion of the pharmaceutical and healthcare packaging industry is anticipated to offer better market opportunities over the projected period. Growing trading of the pharmaceutical products along with the rise in the geriatric population worldwide is creating a need for healthcare products such as drugs and devices. Increasing adoption of the reliable and advanced packaging solution in the pharmaceutical industry is increasing the market growth of the protective Inflatable packaging is gaining a good purchase in the market as they offer a high level of protection at a minimum cost. Environment friendly packaging are gaining product demand. Moreover, they offer a greater level of protection and shock absorption capability to the packed product.
Growing environmental concerns because of the waste which is generated by protective packaging are expected to hinder the growth of the market. Logistics service provider and the retailer uses a huge amount of protective packaging such as paper fills, loose fill peanuts, bubble wraps, or paper/foam edges in order to protect the products as a result it increase the generation of waste materials after the unboxing of the products.
The foamed plastics issue in the protective packaging is anticipated to obstruct the market growth. Foamed plastic is a non-biodegradable raw material and take decades decompose. Biodegradable raw materials demand for the protective packaging industry is anticipated to obstruct the market growth.
Major Developments in the Global Protective packaging Market:
- In January 2020, Sealed Air Corporation launched a new version of its bubble wrap brand packaging that is made with at least 90% recycled content. The recycled content used to make this version of bubble wrap brand packaging is sourced from post-industrial materials that would otherwise end up in landfills.
- In August 2019, Sonoco announced the completion of its acquisition of Corenso Holdings America, Inc. from a company owned by investment funds advised by Madison Dearborn Partners, LLC, and management for USD 110 million in cash.
- In February 2019, Sealed Air Corporation announced that it had joined the Alliance to End Plastic Waste, a new global organization comprising nearly 30 companies to date, making a five-year commitment to invest USD 1.5 billion in solutions to help eliminate plastic waste in the environment.
- In May 2019, Huhtamaki set up a paper-based product production unit in Northern Ireland. The production plant is located in the Antrim town, near Belfast in Northern Ireland. This expansion aims to expand the paper-based product portfolio.
Impact of COVID-19 on Global Protective Packaging Market:
The global packaging industry has witnessed a significant rise in the packaging which are associated with pharmaceuticals and healthcare sectors. Decreasing demand and imposing of the lockdown due to the reason of the pandemic has reduced the demand for protective packaging.
Moreover, restricted and limited trade activities worldwide is impacting the sales of protective packaging. Rapid vaccination and the recovery rate from the COVID-19 crisis will drives the protective packaging market worldwide.
By Material
On the basis of material, the global protective packaging market is segmented into Foam Plastics, and Paper & Paperboard. The foam plastics material segment holds the largest market share owing to its good thermal insulation, lightweight, and shock-absorbing properties, which are very much suitable for protective packaging.
By Type
Grounded on the type, the Global Protective Packaging Market is bifurcated into Flexible, Rigid and Foam. The flexible protective packaging segment is anticipated to hold the largest market share in terms of revenue due to the increasing demand for cost-effective and recyclable materials.
By Function
On the basis of function, the Global Protective Packaging Market is bifurcated into Cushioning, Blocking & Bracing, Void fill and Wrapping. Cushioning is anticipated to hold the largest market share, as it protects lightweight and fragile items from damage during warehousing and transportation, it also restrains the movement of the packed product and prevents damage from vibration and shock during transit.
By Application
On the basis of application, the Global Protective packaging Market is segmented into Food & Beverages, Consumer Electronics, and Others. Food & beverages holds the largest market share in terms of revenue as it extend the shell-life of the product.
A trend of using eco-friendly, highly portable, and easy to handle materials are expected to thrust the demand for protective packaging. Increasing demand for food and beverage packaging, growing demand for product protection, and high consumption of flexible packaging over conventional packaging is anticipated to boost the demand of protective packaging market in the forecast period.
Enquiry Before Buying This Report @ https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-61203
By Region
On the basis of the region, Global Protective Packaging Market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia pacific region is the largest and fastest-growing protective packaging market. China is one of the largest and fastest-growing market in the region and is anticipated to dominate the regional market in the next few years. Industrialization, increasing disposable income, growing e-retail sale, rising internet penetration, growing manufacturing activities, and rising consumption level, would drive the market during the projected period.
Some Major Findings of the Outdoor Power Equipment Market Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global vision care market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global vision care market, which include Coopervision, Essilor Group, Johnson & Johnson, Luxottica, Novartis, Valeant Pharmaceuticals, Bausch and Lomb, Menicon, Paragon Vision Sciences, and Carl Zeiss
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that include analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global market
- Impact of COVID-19 on the global vision care market
Browse key industry insights spread across 160 pages with 85 market data tables and 41 figures & charts from the report, “Protective Packaging Market By Material (Foam Plastics, Paper & Paperboard), By Type (Flexible, Rigid, Foam), By Function (Cushioning, Blocking & Bracing, Void Fill, Wrapping), By Application (Food & beverage, Consumer Electronics, Others), By Region (North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, Rest Of The World) – Market Size & Forecasting to 2030 , in-depth analysis along with the table of contents (ToC).”
Buy Now Full Report @ https://www.quincemarketinsights.com/insight/buy-now/protective-packaging-market/single_user_license
Contact Us:
Ajay D
Quince Market Insights
Pune India
Phone: US +1 208 405 2835
UK +44 1444 39 0986
APAC +91 706 672 4848
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com
Browse Related Reports:
- Global Squeeze Tube Packaging Market, By Material Type (Plastic Tubes, Aluminium Tubes, Laminated Tubes, and Others), By Application (Shaving Cream, Toothpastes, Sealants, Ointments, Adhesives, and Others), By End User (Automotive, Pharmaceuticals, Food & Beverages, Cosmetics & Oral Care, Cleaning Products, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting to 2030
https://www.quincemarketinsights.com/industry-analysis/squeeze-tube-packaging-market
- Global Snack Food Packaging Market, By Material Type (Plastic, Product, Paper, Metal, and Others), By Packaging Type (Flexible, Rigid, and Others), By Application (Bakery Snacks, Candy & Confections, Savory Snacks, Nuts & Dried Fruits, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting to 2030
https://www.quincemarketinsights.com/industry-analysis/snack-food-packaging-market
- Global Sterile Packaging Market, By Product Type (Thermoformed Trays, Clamshell, Sterile Lid, Pouches, Die-cut Baker Cards, Guided Wire Hoops, Sterile Wraps, and Others), By Material Type (Plastic, Paper, Foil, Non-Woven, and Foam Sheets), By Application (Medical Disposable Supplies and Medical Equipment), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting to 2030
https://www.quincemarketinsights.com/industry-analysis/sterile-packaging-market
- Global Stick Packaging Market, By Material Type (Paper, Polyester, Polyethylene, Metalized Films, and Others), By Filler Type (Powder, Tablets, and Liquid), By Capacity (0-5 ml, 5 ml-10 ml, 10 ml-15 ml, 15 ml-20 ml, and 20 ml & Above), By Application (Food & Beverages, Industrial, Pharmaceuticals, Cosmetics & Personal Care, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World) – Market Size & Forecasting to 2030
https://www.quincemarketinsights.com/industry-analysis/global-stick-packaging-market
