Protective Packaging Market Set To Touch $53.72 billion By 2032: Players Dow Chemical Company, DS Smith Plc

As per the report published by The Brainy Insights, the global protective packaging market is expected to grow from USD 30 billion in 2022 to USD 53.72 billion by 2032, at a CAGR of 6% during the forecast period 2023-2032. Asia Pacific emerged as the most prominent global protective packaging market, with a 42% market revenue share in 2022. The population of India and China alone offer a vast consumer market for food, beverages, household appliances, clothing and apparel, personal care products and other consumer goods. It is also a vast market for automotive, pharmaceuticals, healthcare, and industrial goods. Furthermore, the growing e-commerce market will also contribute to the regional market's growth. Additionally, China is the manufacturing hub of the world and therefore dominates the consumer market for packaging products shipped worldwide. The growing trade in the Indo-Pacific region will also augment the market's growth.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭- https://www.thebrainyinsights.com/enquiry/sample-request/13644

Global Protective Packaging Market Size by Material Type (Plastic, Foam Plastic, Paper and Paperboard, and Others), Product Type (Rigid, Flexible and Foam), Function (Cushioning, Void Fill, Wrapping, Blocking and Bracing, Insulation, and Others), Application (Food and Beverages, Healthcare, Industrial Goods, Automotive, Household Appliances, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Leading companies in the industry include Dow Chemical Company, DS Smith Plc, Huhtamaki OYJ, Point Five Packaging, Pro-Pac Packaging Limited, Sealed Air Corporation, Smurfit Kappa Group Plc., Sonoco Products Company, Storopack Hans Reichenecker Gmbh, Universal Protective Packaging, Inc., among others, are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The material type segment is divided into plastic, foam plastic, paper and paperboard, and others. The foam plastics segment dominated the market, with a share of around 47% in 2022. They offer a greater range of choices with their shape, size, design, rigidity, durability, flexibility and other properties compared to other material types. They are lightweight and highly desirable for storage, transportation and the environment. The product type segment is divided into rigid, flexible and foam. The flexible segment dominated the market, with a market share of around 48% in 2022. The fundamentally distinct feature of flexible packaging is that it can be modified to fit the needs of products of any kind. The function segment is divided into cushioning, void fill, wrapping, blocking and bracing, insulation, and others. The cushioning segment dominated the market, with a market share of around 39% in 2022. Cushioning reduces the shock or other impact on the products or contents of goods during storage and shipment. It is the most effective way to ensure the original contents of the products arrive in the same state as they were stated during the purchase. Cushioning is used in all protective packaging. The application segment is divided into food and beverages, healthcare, industrial goods, automotive, household appliances, and others. The food and beverages segment dominated the market, with a market share of around 33% in 2022. The food and beverages segment has perishable goods or goods with a short life cycle. They are also highly vulnerable to temperature, moisture and light. They can easily degrade in quality if not packed properly. Therefore, the food and beverages segment makes the most use of protective packaging, given the nature of the goods. Additionally, these goods are purchased frequently, increasing the demand for protective packaging. The industry's increasing demand for food and beverages or packaged goods will propel the segment's growth.

The demand for consumer goods in the food & beverage, automobile, and personal care markets is expanding due to the growing population and consumers' increasing disposable income. Demand has been redirected by the e-commerce boom, mostly through online platforms that are more practical than brick-and-mortar stores. Given the requirement to send goods to consumers, the earlier considerations will aid in developing protective packaging. Pharmaceuticals, consumer goods, and the industrial sectors are all expanding, which means packaging requirements will also increase.

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