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MarketResearchFuture.com added New Report Named “Protective Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation By Product Type (Rigid Protective, Flexible Protective, And Foam Protective), Material (Paper & Paperboard, Plastics, And Others), Application (Consumer Goods, Food & Beverages, Industrial Goods, And Others), Function, And Region | Outlook to 2023” to its Database.Synopsis of Protective Packaging Market
Packaging is the covering of products in packages with the help of protective wrappings or other external covering, which provides protection, information, security, and other benefits. Boxes, bubble wrap, plastic, bags, cloth, and cartons are some of the common packaging materials. Product packaging has grown as an important part of sales and marketing operations. With online sales growing at a rate of 20% annually, the packaging is impacting brand image, as well as shipping costs. Innovative packaging solutions enhance brand value with internal packaging and also demonstrates assurance to environmentally responsible packaging, coupled with minimizing the size and weight of the overall package for lower shipping costs.
A recent study shows that consumer are more inclined toward purchasing products online, which is increasing the demand for packaging to protect goods from shock, vibration, and other damaging effects of shipping and handling. Increasing e-commerce sector is one of the main drivers and supports gains for products such as air pillows and protective mailers.
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Technological advancements in packaging play a vital role in driving the growth of protective packaging market. The market is experiencing high growth due to different factors such as growth in demand from the food & beverage and healthcare sectors, and preference for convenient packaging. Advancement in technology has allowed innovation instead using traditional methods for packaging. Recent trend shows that key market players are focusing on R&D activities to develop sustainable and environment-friendly packaging materials, which can be reused and recycled. Popularity towards online shopping and adoption of protective materials coupled with sustainable packaging are predicted to experience a positive impact on the market growth during the forecast period. Increased demand for protective packaging spurs investment in e-commerce applications. Many companies are investing heavily in the development of packaging products and are coming up with barrier resistance properties that offer resistance to heat and moisture and eliminates oxidation of foods. Protective packaging helps to maintain the quality and consistency of food products while extending their shelf life without the use of preservatives. The protective packaging market was valued at USD 20.47 billion in 2017 and is expected to reach a value of USD 35.91 billion at the end of the forecasted period at a CAGR of 4.07%. High demand for protective packaging benefits Internet sales by using environment-friendly materials.
The global protective packaging market is segmented based on product type, material, function, application, and geography. On the basis of the product type, it is segmented into rigid protective, flexible protective, and foam protective. By material, the market is classified as paper & paperboard, plastics, and others. By function, it is divided into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. The application segment includes food, beverage, healthcare, cosmetics, industrial, and other consumer goods. The market is analyzed across Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The protective packaging market has witnessed a prospective growth over the last few years and as per MRFR analysis, the market is likely to retain the similar growth rate during the forecast period. In the report, the market has catogirzed based on materials, which includes paper & paperboard, plastics, and others.
Plastic is one of the most widely used materials for packaging across various end-use industries. Plastic in the form of PVC, PE, PP, PET, and others are used extensively. The material offers high barrier, cost-efficient, temperature resistance and durable packaging options. The segment holds the largest share in the global protective packaging market and is expected to grow at the highest rate in coming years.
Regional Analysis of Global Protective Packaging Market
The Asia Pacific dominates the global protective packaging market, and it is anticipated to project the highest growth during the forecast period. Countries such as China and India are predicted to witness the highest growth within the region. Manufacturers are focusing on developing low-cost protective packaging options. Rapidly growing electronics industry and e-commerce sector and increasing the demand for paper & paperboard packaging, which includes folding, corrugated board or cardboard, protective mailers and others are some of the key factors accelerating the market growth. Moreover, higher disposable income in developing countries such as India, China, and Indonesia increases the purchasing power of customers. Hence, consumer dependence on processed, pre-cooked and packed foods is likely to increase. As a result, protective packaging market has been impacted, positively.
Key Players
Some of the key players in the global protective packaging market are Packaging Corporation of America (U.S.), Max Packaging (India), Springpack (U.K), Sealed Air Corporation (U.S.), Protective Packaging Solutions (U.S.), Smurfit Kappa Group (U.K), Pregis Corporation (U.S.), ACH Foam Technologies LLC (U.S.), Bayer AG Germany, FP International (U.S.), BASF SE Germany, Macfarlane Group (U.K), Universal Protective Packaging (U.S.), Unisource Worldwide (U.S.), Cellofoam North America Incorporated (U.S.), and Ecovative Design LLC (U.S.).
The new players trying to enter the market are required to make a moderate capital investment in order to meet technological aspects required for the protective packaging industry. In addition, medium government regulations to ensure that the raw materials used are a biodegradable waste to achieve sustainable packaging, makes the entry of new players moderately difficult, thus, making the threat of new entrants, medium.
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The report for Global Protective Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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