Press release
Dunnage Packaging Market Size, Insights, Outlook, Overview By 2024-2033
Dunnage Packaging Market
The Business Research Company offers in-depth market insights through Dunnage Packaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The dunnage packaging market size has grown strongly in recent years. It will grow from $3.56 billion in 2023 to $3.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growth in global trade and logistics, increased emphasis on product protection during shipping, adoption of lean manufacturing practices, expansion of the automotive industry, advances in packaging materials and design.
The dunnage packaging market size is expected to see strong growth in the next few years. It will grow to $5.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rise in e-commerce and online retail, growing demand for sustainable packaging solutions, development of innovative and lightweight packaging materials, increased focus on supply chain optimization, expansion of the pharmaceutical and healthcare industry. Major trends in the forecast period include customization and personalization of dunnage packaging solutions, integration of automation in dunnage packaging processes, adoption of recyclable and biodegradable dunnage materials, emphasis on cost-effective and space-efficient packaging designs, collaboration between packaging providers and manufacturers for tailored solutions.
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Market Segmentation:
The dunnage packaging market covered in this report is segmented -
1) By Product: Dunnage Air Bags, Inserts, Dividers, Packaging Peanuts, Other Product Types
2) By Material: Corrugated Plastic, Molded Plastic, Foam, Steel, Aluminum, Wood, Fabric Dunnage, Corrugated Paper, Other Materials
3) By End-User Industry: Automotive, Aerospace, Electronics, Food and Beverages, Consumer Durables, Healthcare, Other End-Use Industries
Major Driver - Logistics Sector Fuels Growth Of Dunnage Packaging Market
The rise in the logistics sector is significantly contributing to the growth of dunnage packaging. Logistics is the transportation of goods from one place to another in a protected manner. Dunnage packaging is commonly used in logistics due to its various advantages, such as shock-absorbing properties, cushioning and padding of commodities packed, moisture protection, easy handling of heavy items, air circulation, and others that protect sensitive items from filling void spaces and making goods intact in transit. For instance, in 2023, according to the Council of Supply Chain Management Professionals, a US-based council, U.S. business logistics costs exceeded $2.316 trillion in 2022, which equated to 9.1% of the U.S.'s nominal gross domestic product. Additionally, e-commerce grew by 8% to $1.03 trillion, which represents 14.5% of the entire U.S. retail market. E-commerce provides the logistics of commodities or products picked up in stores. Therefore, the rise in the logistics sector is driving the growth of the dunnage packaging market.
Competitive Landscape:
Major companies operating in the dunnage packaging market report are ORBIS Corporation, Menasha Corporation, Schoeller Allibert AB, Myers Industries Inc., Nefab Group, UFP Technologies Inc., Reusable Transport Packaging, Amatech Inc., MJSolpac Ltd., Rehrig Pacific Company, Ckdpack, GWP Group Ltd., Interior Packaging Design LLC, Packaging Corporation of America, Dunnage Engineering, Salco Engineering & Manufacturing Inc., Keener Corporation, Package Design & Mfg, JIDA Industrial Solutions, Artisanz Fabrication and Machine LLC, Dordan Manufacturing Company, PolyFlex Products Inc., Thermoflex LLC, Brown Machine LLC, Sohner Plastics LLC, Sonoco Products Company, Great River Plastics LLC, Electro-General Plastics Cor and Rohrer Corporation, TriEnda LLC, Pregis Corporation, Sealed Air Corporation, Automated Packaging Systems Inc., Storopack Hans Reichenecker GmbH, Signode India Limited
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Top Trend - New Product Innovation Drives Dunnage Packaging Market
New product innovation is the key trend gaining popularity in the dunnage packaging market. Organizations providing dunnage packaging are increasingly focusing on developing new packaging solutions that could give better solutions and services to various industries operating in the logistics business. For instance, in May 2021, ORBIS Corporation, a subsidiary of Menasha Corporation, a US-based company operating in dunnage packaging solutions, reusable plastic containers, pallets, and bulk systems for logistics, launched its smoothest and finest fabric material for dunnage packaging called PolySilk. PolySilk is a non-woven lightweight fabric material for dunnage packaging that has been added to the ORBIShield textile materials portfolio. It provides a cost-effective single reusable dunnage packaging solution for the packaging and transportation of light-weighted materials such as chrome, extra-delicate class-A components, and painted parts.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dunnage Packaging Market Characteristics
3. Dunnage Packaging Market Trends And Strategies
4. Dunnage Packaging Market - Macro Economic Scenario
5. Dunnage Packaging Market Size And Growth
…..
27. Dunnage Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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