Packaging and Protective Packaging Market Sculpting Success Carving the Future through Market Size Understanding

Allied Market Research recently released a report titled "Packaging and Protective Packaging Market by Material, Function, Application: Global Opportunity Analysis and Industry Forecast, 2021-2031". The report forecasts the global packaging and protective packaging market to reach $1.5 trillion by 2031, with a projected CAGR of 4.3% from 2022 to 2031. The report provides insights into market segments, emerging trends, investment areas, regional perspectives, the value chain, and competitive landscape.

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Key Market Influencers:

Factors driving market growth include:

- Expeditious lifestyle and increased consumer purchasing power.
- Growing demand for sterile medical products due to rising prevalence of viral and contagious diseases.
- Increase in manufacturing activities worldwide to meet population demands.
- Rise in third-party logistics companies utilizing packaging for secure distribution.
- Expansion of the healthcare sector.

Challenges to market growth include regulatory standards for food and pharmaceutical packaging and emissions of volatile organic compounds during plastic manufacturing. However, increased R&D efforts to develop biodegradable packaging offer growth opportunities.

Material Segment Analysis:

The paper and paperboard segment, constituting nearly one-third of the market revenue in 2021, is expected to maintain dominance due to strict regulations on plastic use and rising demand, particularly in the food and beverage sector. Rigid plastics are anticipated to experience the highest growth, driven by their use in various applications such as cosmetics.

Function Segment Analysis:

The insulation segment, contributing over one-fourth of the market revenue in 2021, is expected to dominate due to increased demand for temperature maintenance in medical supplies and perishable goods. The cushioning segment is projected to witness the fastest growth, driven by demand for secure packaging solutions.

Regional Analysis:

Asia-Pacific, generating the largest revenue in 2021 and expected to maintain its lead, is driven by rapid industrialization, particularly in emerging economies like China and India. Increased manufacturing output and demand for packaged food further contribute to market growth.

Key Players:

Major players in the market include International Paper, Storopack Hans Reichenecker GmbH, Pro-Pac Packaging Limited, Amcor Plc, Sonoco Products Company, Sealed Air, Pregis LLC, DS Smith, Huhtamaki, and Smurfit Kappa Group Plc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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