Protective Packaging Market to reach USD 47.91 billion by 2027 – Report by Market Research Future (MRFR)
New York, June 28, 2021 (GLOBE NEWSWIRE) — Protective Packaging Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Protective Packaging Market Research Report, Product Type, Material, Application and Region – Forecast till 2027”, the market was valued at USD 32.73 billion in 2020 and is expected to reach a value of USD 47.91 billion by the end 2027,at a CAGR of 5.73% during the forecast period (2020- 2027)
Protective Packaging Market to Benefit from COVID-19 Pandemic
The global protective packaging industry has witnessed a noteworthy increase in the sales of specific packaging types that are related to pharmaceutical sectors and healthcare. Government imposed lockdowns and fall in demand from different end use sectors has reduced the need for protective packaging solutions. Besides, restricted and limited trade activities across countries have also impacted the sales of protective packaging solutions. Nonetheless, recovery from this crisis with rapid vaccination drives across European and American countries is likely to help in the recovery of the demand for protective packaging solutions through 2021 and beyond.
On the contrary, the consumer demand for hygienic and protective packaging during the outbreak has brought new innovations in the areas of cardboard coatings, film, and sleeve. A new plastic film especially for food packaging has been made which can inactivate the coronavirus. Researchers from Rio de Janeiro-based Brazilian plastics manufacturer Alpes claimed that stretchable transparent plastic PVC film used for fruit, meat, and other food packaging can help in inactivating the virus responsible for the pandemic. Alpes has developed the material which contains silica and silver nanoparticles. This is likely to have a positive impact on the market growth.
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Key Players
Eminent players profiled in the global protective packaging market report include-
- Packaging Corporation of America (U.S.)
- Max Packaging (India)
- Springpack (U.K)
- Sealed Air Corporation (U.S.)
- Protective Packaging Solutions (U.S.)
- Smurfit Kappa Group (U.K)
- Pregis Corporation (U.S.)
- ACH Foam Technologies LLC (U.S.)
- Bayer AG Germany
- FP International (U.S.)
- BASF SE Germany
- Macfarlane Group (U.K)
- Universal Protective Packaging (U.S.)
- Unisource Worldwide (U.S.)
- Cellofoam North America Incorporated (U.S.)
- Ecovative Design LLC (U.S.)
Key players have incorporated several strategies to remain at the forefront such as partnerships and collaborations. For instance, DS Smith has made a partnership with Touchguard for developing a new form of sustainable packaging for protecting against various forms of viruses and bacteria.
Industry Updates
June 2021- UK-based BUBL Packaging has made a PPE deal with ASAP Innovations.
Browse In-depth Market Research Report (115 pages) on Protective Packaging
https://www.marketresearchfuture.com/reports/protective-packaging-market-1320
Market Segmentation
- By Product Type
By product type, the flexible protective product type segment will lead the market over the forecast period owing to its portability and ease of use. Besides, it is eco-friendly, cost-effective, and offers good barrier resistance properties against damage like vibration and shock. Also, it offers excellent barrier properties and high clarity to the products enclosed within.
- By Material
By material, the paper and paperboard segment will dominate the market over the forecast period for its increasing preference. Leading paper-based packaging manufacturers are putting efforts persistently for enhancing its sustainable packaging products range for reducing carbon footprints.
- By Function
By function, the cushioning segment will spearhead the market over the forecast period.
- By Application
By application, the food and beverage segments will have the lions share in the market over the forecast period for burgeoning need for food and beverage packaging as this offers product protection, durability, and also extends the product’s shelf life.
Regional Takeaway
APAC to Lead Protective Packaging Market
The Asia Pacific region will lead the market over the forecast period. Manufacturers focusing to develop low-cost protective packaging options, booming e-commerce and electronics sector, increasing demand for paper and paper-board packaging, higher disposable income in Indonesia, China, and India, increasing dependence of consumers on pre-cooked, packed, and processed foods, large customer base for consumer electronics and household appliances, growing need from the e-commerce sector for the protection of shipped products, constant technological advancement, improvements in manufacturing activities, and the presence of high population economies like India and China are adding to the global protective packaging market growth in the region.
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Enhancing Features that Boost Market Growth
As per the latest MRFR report, numerous factors are propelling the global protective packaging market share.
Protective Packaging Market Drivers/Protective Packaging Market Trends
Increasing Use in Shipping and Logistics to Uplift Market Growth
Protective packaging solutions play a pivotal part in logistics and shipping by offering superior security via packaging. This increasing emphasis on efficient shipping of goods with lowered costs is predicted to uplift the protective packaging market growth over the forecast period.
Opportunities
Rising Trend of Online Shopping to offer Robust Opportunities
The rising trend of online shopping by consumers is likely to boost the protective packaging market revenue over the forecast period. This trend drives the changes in shipping, fulfillment, picking, packaging, and product design. Thus, product protection is regarded the most crucial issues. The increasing growth of e-commerce coupled with technological advances in packaging material choices, is changing the way the maximum companies choose the best solution. The crucial points considered are sustainability, delivery systems which create on-demand packaging, packaging needs, cost considerations driven by material improvements, and performance.
Restraints
Stringent Regulations to act as Market Restraint
The implementation of stringent government and private regulations by various countries may act as a market restraint over the forecast period.
Challenges
Availability of Substitutes to act as Market Challenge
The availability of alternative packaging may act as a market challenge over the forecast period.
Segmentation of Market covered in the research:
Information By Product Type (Rigid Protective, Flexible Protective and Foam Protective), Material (Paper & Paperboard, Plastics and others), Application (Consumer Goods, Food & Beverages, Industrial Goods and others), Function and Region
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