The Protective Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Protective Packaging Global Market Report 2024, The protective packaging market size has grown strongly in recent years. It will grow from $32.92 billion in 2023 to $35.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increase in consumer electronics, rise in sustainable packaging, focus on brand image, increasing awareness of product safety, growing automotive industry, globalization of supply chains.
The protective packaging market size is expected to see strong growth in the next few years. It will grow to $45.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to evolving retail landscape, advancements in packaging design, rise in pharmaceutical production, customization in packaging solutions, increased focus on last-mile delivery.. Major trends in the forecast period include innovations in material technologies, demand for flexible packaging, evolving regulations on packaging materials, focus on lightweight packaging, collaborations across the supply chain, e-commerce-friendly packaging designs.
The growth of the e-commerce industry is expected to propel the growth of the protective packaging market going forward. E-commerce is the practice of purchasing and reselling products and services online, which includes business-to-business (B2B), business-to-consumer (B2C), and other business models. In the e-commerce industry, protective packaging helps to protect commodities from potential harm or damage during transportation, logistics, and warehousing and allows companies to manage the logistics chain more efficiently and products to reach their end customers in perfect conditions. For instance, in August 2023, according to the United States Census Bureau, a US-based government agency, compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 climbed by 7.5% (or 1.4%), while overall retail sales rose by 0.6% (or 0.4%). 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the growth of the e-commerce industry is driving the growth of the protective packaging market.
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The protective packaging market covered in this report is segmented –
1) By Type: Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging
2) By Material: Foam Plastics, Paper And Paperboard, Plastics, Other Materials
3) By Function: Cushioning, Blocking And Bracing, Void Fill, Insulation, Wrapping
4) By End-User Industry: Food And Beverage, Industrial Goods, Automotive, Household Appliances, Pharmaceuticals, Other End-User Industries
Technological advancement is the key trend in the protective packaging market. Major companies are focused on research and development for product innovations, such as carbon-neutral products with a certain level of automation. For instance, in February 2022, Pregis Corporation, a Netherlands-based company protective packaging materials and systems company, introduced Renew Zero, a recyclable air-cushioning film made up of 50% post-consumer recycled content and 50% renewable plant waste, such as cellulose fiber which is carbon-neutral without dependence on carbon-offset methods like planting trees and has been certified by European legislation for packaging and packaging waste. Renew Zero film is compatible with the Pregis AirSpeed MINI PAK’R machine, which produces air cushions in five film configurations using radio frequency identification (RFID) technology that automatically chooses the optimal seal temperature, airflow, and seal pressure for the film for protective packaging.
The protective packaging market report table of contents includes:
1. Executive Summary
2. Protective Packaging Market Characteristics
3. Protective Packaging Market Trends And Strategies
4. Protective Packaging Market – Macro Economic Scenario
5. Global Protective Packaging Market Size and Growth
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26. South America Protective Packaging Market
27. Brazil Protective Packaging Market
28. Middle East Protective Packaging Market
29. Africa Protective Packaging Market
30. Protective Packaging Market Competitive Landscape And Company Profiles
Top Major Players:
- The Smurfit Kappa Group PLC
- Sealed Air Corporation
- Sonoco Products Company
- Huhtamäki Oyj
- Dow Inc.
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