Market Overview
In its research report, Market Research Future (MRFR), emphasizes that the global protective packaging market 2020 is expected to grow exponentially over the review period, securing a substantial market valuation from USD 20.47 billion in 2017 to USD 35.91 billion at a healthy 4.07% CAGR over the review period.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/1320
Drivers and Restraints
Consumer packaging has emerged as an integral part of the marketing and sales operations. For online sales increasing at a rate of 20 percent a year, the packaging affects both brand identity and shipping costs. Consumers are more probable to purchase items online, which raises the need for packaging to protect goods against shock, vibration, and other harmful effects of shipping and handling. One of the key drivers is the increasing e-commerce market. Technological developments in packaging play a key role in improving the safe packaging market. Due to various factors such as growing demand from the food & beverage and healthcare sectors, the market is experiencing high growth and preference for convenient packaging. Instead of using traditional methods for packaging, advances in technology have facilitated innovation. Recent trend shows that crucial market players concentrate on R&D activities to grow environmentally friendly, sustainable packaging materials that can be reused and recycled. It is expected that attraction for online shopping, and the adoption of durable materials coupled with sustainable packaging would have a positive effect on market growth during the projected timespan. Growing demand for safe packaging is spurring innovation in e-commerce. Several businesses invest heavily in the production of packaging materials and improve barrier resistance properties that give heat and moisture resistance and prevent food oxidation. High demand for protective packaging promotes the use of environmentally friendly products in Internet sales.
Protective Packaging Market – Segments
The market is segmented into product type, material, function, application, and regions. The product type segment is sub-segmented into rigid protective, flexible protective, and foam protective. The material segment is sub-segmented into paper & paperboard, plastics, and others.
The function segment is sub-segmented into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. The application segment is divided into food & beverage, healthcare, cosmetics, industrial, and other consumer goods. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.
Global Protective Packaging Market – Regional Analysis
The Asia Pacific region dominates the global protective packaging market. Factors such as the rapidly growing electronics industry and e-commerce sector increase the demand for protective packaging, including paper & paperboard packaging, folding, corrugated board/ cardboard packaging, and protective mailers. Countries like Japan, China, and India are major markets for protective packaging within the region, witnessing the highest growth.
The increasing demand and focus on developing low-cost protective packaging options are some of the key factors accelerating the market growth. The APAC protective packaging market is anticipated to demonstrate the highest growth during the forecast period.
Europe is another lucrative market for protective packaging. Developed economies like Germany and UK drive the regional market. Besides, the market growth attributes to the large consumer base, positive economic environment, and increase in manufacturing activities. Moreover, higher disposable income and rising consumer preference for processed, pre-cooked, and packed foods positively impact market growth.
Protective Packaging Market – Competitive Analysis
The protective packaging market appears to be highly competitive due to several large and small players. Well-established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a larger competitive share in this market and thus to maintain their market position.
They compete based upon pricing and product & service. They strive to offer a customized product portfolio designed to meet specific customer objectives and a broad range of services, from assembly to packing, with state-of-the-art service centers.
Major Players:
Players leading the global protective packaging market include Max Packaging (India), Packaging Corporation of America (US), Springpack (UK), Protective Packaging Solutions (US), Sealed Air Corporation (US), Smurfit Kappa Group (UK), ACH Foam Technologies LLC (US), Pregis Corporation (US), Bayer AG (Germany), BASF SE (Germany), FP International (US), ), Universal Protective Packaging (US), Macfarlane Group (UK), Unisource Worldwide (US), Ecovative Design LLC (US), and Cellofoam North America Incorporated (US).
Industry/ Innovation/ Related News
Mar. 01, 2021-- Macfarlane Group, a leading global packaging company, announced the acquisition of protective packaging specialist GWP Holdings Ltd. GWP, the owner of protective packaging manufacturing and distribution business GWP Group. The acquisition aligns with Macfarlane’s strategy of building its protective packaging business through a combination of organic and acquisitive growth.
Access Report Details @ https://www.marketresearchfuture.com/reports/protective-packaging-market-1320
Read more related insights:
https://www.globenewswire.com/en/news-release/2021/06/28/2254022/0/en/Protective-Packaging-Market-to-reach-USD-47-91-billion-by-2027-Report-by-Market-Research-Future-MRFR.html https://thedailyfeeder.com/news/protective-packaging-market-2019-financial-overview-global-analysis-by-top-players-segmentation-competitive-landscape-size-and-forecast-to-2023/0185338 https://site-3676042-5894-9812.mystrikingly.com/blog/global-protective-packaging-market-trends-driven-by-growing-demand-for-online https://issuu.com/www.marketresearchfuture.com/docs/protective_packaging_market_share__fb54c3d2437a91 https://teletype.in/@sagarkinagi/fAOaawZoD https://www.reusealways.com/read-blog/7094_protective-packaging-market-2021-opportunities-share-industry-forecast.html https://www.tradove.com/blog/Protective-Packaging-Market-COVID19-Impact-Analysis-And-Demand-With-Forecast-To-2023.html https://www.free-press-release-center.info/pr00000000000000381485_global-protective-packaging-market-research-report---forecast-to-2021.pdf
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact
Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune 411028 Maharashtra, India +1 646 845 9312 Email:sales@marketresearchfuture.com
Comments