Press release
Protective Packaging Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | The Smurfit Kappa Group PLC, Sealed Air Corporation, Sonoco Products Company, Huhtamäki Oyj, Dow Inc.
Protective Packaging Market Characteristics
The Business Research Company offers in-depth market insights through Protective 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 protective packaging market size has grown strongly in recent years. It will grow from $32.92 billion in 2023 to $35.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increase in consumer electronics, rise in sustainable packaging, focus on brand image, increasing awareness of product safety, growing automotive industry, globalization of supply chains..
The protective packaging market size is expected to see strong growth in the next few years. It will grow to $45.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to evolving retail landscape, advancements in packaging design, rise in pharmaceutical production, customization in packaging solutions, increased focus on last-mile delivery.. Major trends in the forecast period include innovations in material technologies, demand for flexible packaging, evolving regulations on packaging materials, focus on lightweight packaging, collaborations across the supply chain, e-commerce-friendly packaging designs..
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Market Segmentation:
The protective packaging market covered in this report is segmented -
1) By Type: Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging
2) By Material: Foam Plastics, Paper And Paperboard, Plastics, Other Materials
3) By Function: Cushioning, Blocking And Bracing, Void Fill, Insulation, Wrapping
4) By End-User Industry: Food And Beverage, Industrial Goods, Automotive, Household Appliances, Pharmaceuticals, Other End-User Industries
Major Driver - Protective Packaging Market Surges In Response To The Growing E-Commerce Industry
The growth of the e-commerce industry is expected to propel the growth of the protective packaging market going forward. E-commerce is the practice of purchasing and reselling products and services online, which includes business-to-business (B2B), business-to-consumer (B2C), and other business models. In the e-commerce industry, protective packaging helps to protect commodities from potential harm or damage during transportation, logistics, and warehousing and allows companies to manage the logistics chain more efficiently and products to reach their end customers in perfect conditions. For instance, in August 2023, according to the United States Census Bureau, a US-based government agency, compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 climbed by 7.5% (or 1.4%), while overall retail sales rose by 0.6% (or 0.4%). 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the growth of the e-commerce industry is driving the growth of the protective packaging market.
Competitive Landscape:
Major companies operating in the protective packaging market report are The Smurfit Kappa Group PLC, Sealed Air Corporation, Sonoco Products Company, Huhtamäki Oyj, Dow Inc., Smurfit Kappa Group plc, DS Smith plc, International Paper Company, WestRock Company, Ball Corporation, Oji Holdings Corporation, Advanced Protective Packaging Inc., Storopack Hans Reichenecker GmbH, Packaging One GmbH, ITP Packaging Limited, Amcor plc, Anchor Packaging Inc., ALPLA Werke Alwin Lehner GmbH & Co. KG, Pregis LLC, Ranpak Corp., Pactiv LLC, Intertape Polymer Group Inc., Cascades Inc., Berry Global Group Inc., Mondi Group, Pro-Pac Packaging Group Pty. Ltd., Nefab AB, Unisource Worldwide Inc., Tekni-Plex Inc., Bway Corporation
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Top Trend - Pregis Introduces Renew Zero Carbon Neutral, Recyclable Air Cushioning Film With Radio Frequency Identification (RFID) Tech Integration
Technological advancement is the key trend in the protective packaging market. Major companies are focused on research and development for product innovations, such as carbon-neutral products with a certain level of automation. For instance, in February 2022, Pregis Corporation, a Netherlands-based company protective packaging materials and systems company, introduced Renew Zero, a recyclable air-cushioning film made up of 50% post-consumer recycled content and 50% renewable plant waste, such as cellulose fiber which is carbon-neutral without dependence on carbon-offset methods like planting trees and has been certified by European legislation for packaging and packaging waste. Renew Zero film is compatible with the Pregis AirSpeed MINI PAK'R machine, which produces air cushions in five film configurations using radio frequency identification (RFID) technology that automatically chooses the optimal seal temperature, airflow, and seal pressure for the film for protective packaging.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Protective Packaging Market Characteristics
3. Protective Packaging Market Trends And Strategies
4. Protective Packaging Market - Macro Economic Scenario
5. Protective Packaging Market Size And Growth
…..
27. Protective Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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