Packaging and Protective Packaging Market report provides an in-depth analysis of the current trends, drivers, and dynamics of the industry to elucidate the prevailing opportunities and tap the investment pockets

According to a report by Allied Market Research, "Packaging and Protective Packaging Markets: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global packaging and protective packaging market is expected to reach $ 757 billion by 2016, to $ 101.4 billion, and is expected to grow at a CAGR of 4.3% from 2017 to 2023. In 2016, paper and cardboard packaging materials accounted for approximately one-third of the global market.

Packaging and protective packaging are designed to protect consumer and industrial goods from shock and vibration, and from atmospheric, magnetic, and static electricity. Plastic and plastic foam, paper and paperboard, metal, various boxes made of glass and wood, storage containers, packaging materials, liners and spacers are used in packaging. The various functions of the packaging include electrical insulation, thermal insulation, fire protection, moisture and vapor protection, shock and vibration attenuation, UV and weather resistance. Other types of packaging create protective barriers from oxygen, moisture and dust to maintain the freshness and effectiveness of food. The type of product being packaged and the environmental conditions that protect the product determine the packaging material and type used.

Download PDF Report Sample @ https://www.alliedmarketresearch.com/request-sample/2295

Asia-Pacific and LAMEA collectively contributed to about 50% share of the global market, in terms of revenue, in 2016.
The key players operating in the global packaging and protective packaging market are
• Smurfit KAPPA Group PLC
• Rocktenn Company
• Sealed Air Corporation
• Sonoco Products Company
• Huhtamaki OYJ
• DS Smith PLC
• Pregis Corporation
• Pro-Pac Packaging Limited
• Storopack Hans Reichenecker GmbH
• The DOW Chemical Company

Growth in participation of third-party logistic companies, which use packaging and protective packaging for safe distribution of fragile, perishable, high, or low value-added products, positively impacts the market growth. Increase in manufacturing activities globally to meet the rising demand of the population has led to increased consumption of packaging, which is further expected to fuel the market growth during the forecast period.

In 2016, paper & paperboard packaging accounted for the highest share in the market, and is expected to maintain its dominance during the forecast period. This is attributed to its extensive applications across several industrial such as food, beverages, healthcare, consumer goods, cosmetic, and industrial. For example, it is used to package fruits, vegetables, ice-cream, and meat in food industry; milk, juice, and soda in beverages industry; and pharmaceutical products, medicines, and medical equipment in healthcare industry. Paper & paperboards are recyclable, and thus are considered as a sustainable packaging solution, which is expected to boost the market growth in the future.

Make an Enquiry before Buy @
https://www.alliedmarketresearch.com/purchase-enquiry/2295

Volatile organic compound (VOC) emission during the manufacturing and curing processes of plastic and plastic foam-based packaging has led to the formulation of various regulations on packaging manufacturers. Moreover, regulatory norms on packaging and protective packaging related to food contact application and pharmaceutical products may hamper the market growth. However, increase in R&D activities by various market players to produce biodegradable packaging and protective packaging is expected to provide opportunities for the packaging manufacturers.

Key Findings of the Packaging and Protective Packaging Market:
• Asia-Pacific is expected to maintain its dominant position in the market, in terms of value, during the forecast period, followed by Europe.
• Paper & paperboard packaging material generated the highest revenue in 2016, and is projected to grow at a CAGR of 4.2% during the forecast period.
• Food industry is the largest application segment, registering a significant CAGR.
• LAMEA accounted for approximately one-tenth share of the global packaging and protective packaging market in 2016.
• The Asia-Pacific packaging and protective packaging market is anticipated to grow at the highest CAGR.
• North America accounted for approximately one-fourth share of the market, and is expected to grow at a CAGR of 4.0% during the forecast period.

Access Full Summery @ https://www.alliedmarketresearch.com/packaging-and-protective-packaging-market

About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Contact:

David Correa

5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States

Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975

help@alliedmarketresearch.com

This release was published on openPR.