Protective Packaging Market Size – USD 27.80 billion in 2018, Market Growth – CAGR of 4.8%, Protective Packaging Industry Trends – Growth of the manufacturing sector
New York, Sept. 05, 2019 (GLOBE NEWSWIRE) — Rapid Growth of the e-commerce industry is the major factor in influencing market growth.
The global protective packaging market is expected to reach USD 40.72 Billion by 2026, according to a new report by Reports and Data. Protective packaging products are intended to protect the finished goods from atmospheric, electrostatic, magnetic, vibration, or shock damage. Rising demand for product protection, widespread deployment of flexible packaging over conventional packaging, and increasing inclination towards prolonging the shelf-life of the product are expected to fuel the market demand in the upcoming years.
Technological advancements in packaging play an instrumental role in stimulating market demand. The growth of the market is owing to increasing demand from the food & beverage, industrial goods, and pharmaceutical industries coupled with growing preference for convenient packaging.
Players in the market are putting great emphasis on research & development activities to develop sustainable and eco-friendly packaging materials, which may be reused and recycled. Increasing growth of the e-commerce sector and acceptance of protective materials along with sustainable packaging are anticipated to drive the growth of the market in the forecast period. Many companies are making substantial investments in the development of protective packaging products and are developing products barrier resistance properties that provide resistance to heat and moisture and eliminates oxidation of foods. Additionally, increased consumer spending owing to an increase in the level of disposable income is likely to have a positive impact on market growth.
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Further key findings from the report suggest
- By product type, flexible protective packaging accounted for the largest share of the market in 2018, due to the use of less material to create flexible packaging. This creates less waste and hence is more environmentally friendly as less material is left in the landfills. Furthermore, less water and energy is consumed in the production of flexible packaging, and as the products tend to weigh less, there are fewer transportation costs and energy waste.
- By material type, plastics contributed to the largest market share in 2018. Plastic provides the benefit of being cost-effective to producers and is inert to the contents being packed in it and thus is used for packaging products in certain industry verticals.
- By industry vertical, the food & beverage industry dominated the market in 2018 and is expected to witness a growth rate of 4.4% in the forecast period, due to the major benefits offered in food packaging such as containing food, transporting, preserving and protecting food, as well as permitting effective communication and selling of the packaged food product.
- The market for protective packaging in Europe held the second-largest market size in 2018 and is projected to have a CAGR of 4.4% in the forecast period.
- Key participants include Sealed Air Corporation, Sonoco Products Company, DOW, Smurfit Kappa Group, DS Smith PLC, Pregis Corporation, Pro-Pac Packaging Limited, Huhtamaki OYJ, Westrock, and Ranpack, among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global protective packaging market on the basis of product type, material type, application, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Rigid
- Flexible
- Foam
Material Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Plastic
- Paper & Paperboard
- Others
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Cushioning
- Blocking & Bracing
- Insulation
- Wrapping
- Void-Fill
- Others
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Food & Beverage
- Household Appliances
- Consumer Electronics
- Automotive
- Pharmaceutical
- Industrial Goods
- Others
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Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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