Protective Packaging Market Was Valued at USD 28,312.0 million in 2021, Growth of the E-Commerce Industry

According to Precision Business Insights (PBI) latest report The Global Protective Packaging market is accounted for USD 28,312.0 million in 2021, growing at a CAGR of 6.2% from 2022 to 2028. Global Protective Packaging Market is segmented into the following types: By Material Type (Plastics and Foam Plastics, Paper and Paperboard, and Others), By Packaging Type (Flexible Protective Packaging, Foam Protective Packaging, and Rigid Protective Packaging), By Function (Blocking and Bracing, Cushioning, Insulation, Void Fill and Wrapping), By Application (E-Commerce, Automotive, Electronics and Appliances, Food and Beverages, Machinery and Others) and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Forecast to 2028. Key player's profiles in the Sealed Air Corporation, Crown Holdings Inc, Sonoco Products Company, Winpack Ltd, Smurfit Kappa Group, DS Smith Plc, WestRock Company, Schur Flexibles Holding GesmbH, Greif, International Paper Company, Nefab Group and Cascades Inc.

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Flexible Protective Packaging Dominates the Protective Packaging Market:
Based on packaging type, the flexible protective packaging segment registered significant market share and it is expected to grow with a CAGR of x% from 2022 to 2028. Flexible protective packaging protects food from environmental factors including sunshine, temperature, and moisture, extending the shelf life of perishable goods. The food and beverage industry is expanding rapidly due to high demand for convenience foods, takeaway services, and online food delivery, and among others. Flexible protective packaging is becoming more popular due to increased demand from e-commerce, digital printing, and others.

North America leads the Protective Packaging Market:
North America accounted for a significant market share in the protective packaging market during the forecast period and it is expected to continue the growth in the coming years. The protective packaging is expected to fuel by improving the middle class, modernization, and disposable income levels of the people. Europe is anticipated to be the fastest-growing region in the market due to increased emphasis on product quality, a continuous rise in industrial output across Europe, and expansion in end-user verticals such as food and beverage, healthcare, and beauty and personal care. Consumer demand for effective and sustainable packaging solutions in the region has been further fueled by the development of recyclable materials for protective packaging.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Protective Packaging market players are following the strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, August 2021, Huhtamaki acquired Elif, a leading supplier of flexible packaging, for EUR 421 million. Hutamaki wants to strengthen its position as a leading flexible packaging provider in new countries, as well as its current flexible protective packaging business, with this acquisition.

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The protective packaging market detailed segmentation:
Based on the Material Type, the market is segmented into the following:
• Plastics and Foam Plastics
• Paper and Paperboard
• Others

Based on the Packaging Type, the market is segmented into the following:
• Flexible Protective Packaging
• Foam Protective Packaging
• Rigid Protective Packaging

Based on the Function, the market is segmented into the following:
• Blocking and Bracing
• Cushioning
• Insulation
• Void Fill
• Wrapping

Based on the Application, the market is segmented into the following:
• E-commerce
• Automotive
• Electronics and Appliances
• Food and Beverages
• Machinery
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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