Protective Packaging Market Comprehensive Analysis, Growth Forecast from 2021 to 2026

MarketInsightsReports has published a report entitled Global Protective Packaging Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The protective packaging market was valued at USD 30.56 million in 2020, and it is expected to reach a value of USD 41.65 million by 2026 at a CAGR of 5.4% during the forecast period of 2021 to 2026.

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Key Players:

Intertape Polymer Group Inc., Pregis Corporation, Riverside Paper Co., Sealed Air Corporation, Signode Protective Packaging Solutions, Sonoco Products Company, Smurfit Kappa Group, Huhtamaki Group, DS Smith PLC, International Paper Company" and others.

Key Market Trends

Plastic-based Protective Packaging is Expected to Occupy Significant Market Share

- Plastic remains the most used raw material for packaging, and hence, it occupies the highest market share among all the raw materials deployed by the manufacturers in the packaging industry. Plastic provides the flexibility of being cost-effective to manufacturers. Its inert nature to the contents being stored in it has allowed it to be utilized for packaging products in specific industry verticals.
- Plastic continues to be the most used material for the protective packaging of products across various industries. Advanced packaging materials, such as polypropylene, can provide a high barrier against contamination and temperatures, thereby protecting the packaged product from being damaged. The wide adoption of plastic packaging in the food and beverage industry, which includes bags, pouches, shrink films, sleeves, and tubes, primarily owing to their flexibility, low weight, and durability, are some of the factors that may continue to create demand for the plastic protective packaging solutions.
- However, there has been a significant rise in demand from consumers for eco-friendly products to be used for packaging. This has led to a critical decline in the usage of plastics in the packaging industry. Manufacturers have emphasized meeting the consumer demands by addressing the environmental concerns and developing products that can be recycled, with bio- and oxo-degradable options venturing into the market.

Europe is Expected to Execute a Steady Growth Rate

- The e-commerce industry has already established itself as a significant sales channel for a comprehensive portfolio of products, ranging from food and beverages to consumer electronics and home and beauty care products in the European region. Additionally, the rising online sales have helped in the growth of the market for protective packaging solutions, as these solutions enable the vendors to ensure the safe delivery of their products sold online
- Further, technological advancements, leading to the development of recyclable materials for protective packaging, have majorly driven the demand for these effective and sustainable packaging solutions in various countries in the region. This increasing demand for sustainable protective packaging solutions is expected to drive the growth of the market.
- The European region has a significant consumer electronics industry, which is supported by the high technological connectivity environment. With the advancing technology, the rising trend of smart homes and offices is augmenting the demand for consumer electronics, driving the market.
- Furthermore, the vendors in the region are focusing on product innovation. For instance, in September 2019, Macfarlane launched a biodegradable packaging protection solution for wine bottles. The Flexi-Hex product is primarily made from recycled materials, and it is biodegradable and plastic-free. Its design comprises a concertina style honeycomb sleeve protector that forms an impact-resistant layer around bottles for protection.
- Some of the major drivers for the growth of the protective packaging market in Europe include increased emphasis on product quality, steady rise in manufacturing output across Europe, and growth in end-user verticals, such as food and beverage, healthcare, and beauty and personal care
- For instance, Germany is one of the leading markets in the protective packaging industry in Europe. Low supply and decreasing profit margins led to a considerable transformation in the German packaging industry, enabling manufacturers/vendors to adopt creative and innovative packaging solutions to boost sales. High employment levels and the robust economic situation have increased Germany's purchasing power, thus fueling the demand for the packaging industry in the region.
- The development of recyclable materials for protective packaging has driven the consumer demand for effective and sustainable packaging solutions in the country. This demand for packaging is expected to drive the growth of the market in the country.

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https://www.marketinsightsreports.com/reports/02082591531/protective-packaging-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=68

Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Protective Packaging Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Protective Packaging Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

Finally, the Protective Packaging Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.