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Packaging and Protective Packaging Market Size 2022, Share Estimation, Trend Analysis, Sales and Revenues, Future Demands and Supply Forecast 2023

The global packaging and protective packaging market was valued at $757 billion in 2016, and is expected to reach $1,014 billion by 2023, registering a CAGR of 4.3% from 2017 to 2023.

Packaging and protective packaging is a wrapping or container made of plastic, paper, wood, metal, or glass used to store products temporarily to protect and extend their shelf life. This packaging protects the product from atmospheric, magnetic, electrostatic, vibration, or shock damage during shipping and storage. It also retains the freshness, flavor, and efficacy of the food products for a longer duration by protecting them from water, oxygen, dust, and microorganisms.

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Market Statistics:
The file offers market sizing and forecast throughout 5 primary currencies – USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2030 are viewed as the forecast period.

Packaging and protective packaging includes roller stock, wrap, thermoform container, bubble packaging, protective mailer, air pillow, paper fill, corrugated box, molded pulp, insulated shipping container, paperboard protector, molded foam, foam-in-place, and loose fill.

The food industry is the largest consumer of packaging and protective packaging. According to the Food and Agriculture Organization of the United Nations, roughly one-third of food produced for human consumption is wasted globally. Thus, packaging, such as insulated shipping container, corrugated box, wrap, roll stock, thermoform container and others, plays a crucial role to increase the durability and efficacy of food products.

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Packaging provides safe and efficient transport of pharmaceuticals, biologics, vaccines, and other temperature-sensitive products. Volatile corrosion inhibiting (VIC) foams, foam laminated containers, rigid steel racks, folding cartons, dunnage, and various foam pallets are used to protect industrial products, such as earthmoving equipment, construction elevators, metal bodies, and other equipment, from corrosion during shipment and storage.

Other consumer products such as electronics devices and household appliances are protected using corrugated boxes, paperboard protectors, bubble packaging, air pillows, molded foams, and loose fills. Consumers now purchase more products online than in stores. The growing internet and mobile handset penetration in emerging economies, such as China, India, Brazil, Indonesia, Mexico, and others, has led to increase in online shopping.

The growth of e-commerce sales is expected to be the main driver for global packaging and protective packaging market. Third-party logistic companies make use of packaging for safe distribution of fragile, perishable, high, or low value-added products to customers. Thus, increase in participation of third-party logistic companies and improvement in manufacturing activities to meet the high demand of the rising population are expected to fuel the market.

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Butane emissions released from the polyethylene foam products during the manufacturing and curing processes can be quantified as volatile organic compound (VOC) emissions. Most of packaging in use are composed of plastics and plastic foam, which do not decompose and cannot recycled, leading to generation of large amount of waste, which pollute the environment. Thus, stringent government regulations towards VOC and packaging waste may hamper the market growth. Increase in R&D activities by various market players to produce biodegradable packaging is expected to present new opportunities for the packaging manufacturers.

In 2016, paper & paperboard packaging accounted for the highest share in the global packaging and protective packaging market, and is expected to maintain its dominance during the forecast period. Rapid growth of manufacturing sector in Asia-Pacific is expected to significantly contribute towards market growth. Rapid growth of food and electronics industries, and a booming e-commerce sector, specifically in China and India, are expected to further propel this market growth.

The global packaging and protective packaging market is segmented based on material, function, application, and geography. By material, the market is classified into paper & paperboard, rigid plastics, flexible, metal, glass, and others. By function, the market is divided into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others (vibration dampening, moisture protection, UV & weather resistance, and fireproofing). By application, it is categorized into food, beverage, healthcare, cosmetics, industrial, and other consumer goods. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The major players profiled in this study include:

Smurfit KAPPA Group PLC
Rocktenn Company
Sealed Air Corporation
Sonoco Products Company
Huhtamaki OYJ
DS Smith PLC
Pregis Corporation
Pro-Pac Packaging Limited
Storopack Hans Reichenecker GmbH
The DOW Chemical Company

KEY BENEFITS FOR STAKEHOLDERS

The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global packaging and protective packaging market to elucidate the prevailing opportunities and potential investment pockets.
It offers qualitative and quantitative analyses for the period of 2016-2023 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates the types of material used for packaging and protective packaging and their applications.
Competitive intelligence of the industry highlights the business practices followed by key players across geographies and the prevailing market opportunities.
Key players are profiled with their strategies and developments to understand the competitive outlook of the industry.

RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:

The research found on the market used to be carried out in 5 phases which encompass Secondary research, Primary research, issue count number, professional advice, great test, and remaining review.

The market statistics were once analyzed and forecasted the usage of market statistical and coherent models. Also, market shares and key traits had been taken into consideration whilst making the report. Apart from this, different statistics fashions consist of Vendor Positioning grids, Market TimeLine Analysis, Market Overview and Guide, Company Positioning grids, Company Market Share Analysis, Standards of Measurement, Top Bottom Analysis, and Vendor Share Analysis.

To be aware of extra information about the Research Methodology of Verified Market Intelligence and different elements of the lookup study, kindly get in contact with our income team.

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KEY MARKET SEGMENTS

By Material

Paper & Paperboard
Rigid Plastics
Flexible
Metal
Glass
Others

By Function

Cushioning
Blocking & Bracing
Void-fill
Insulation
Wrapping
Others (Vibration Dampening, Moisture Protection, UV & Weather Resistance, and Fireproofing)

By Application

Food
Beverage
Healthcare
Cosmetics
Industrial
Other Consumer Goods

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Rest of Asia-Pacific
LAMEA
Africa
Middle East
South & Central America

What aspects regarding the regional analysis Market are included in this report?

Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

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Study Objectives of this document are:

To learn about and analyze the Market measurement (value and volume) by way of company, key regions/countries, merchandise and application, records facts from 2014 to 2018, and forecast to 2027.

To apprehend the shape of the market by figuring out its quite a number of subsegments.

To share targeted data about the key elements influencing the boom of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

Focuses on the key participant manufacturers, to define, describe and analyze the income volume, value, market share, market opposition landscape, SWOT evaluation and improvement plans in subsequent few years.

To analyze the market with appreciation to man or woman boom trends, future prospects, and their contribution to the whole market.

To task the cost and quantity of market submarkets, with appreciation to key areas (along with their respective key countries).

To analyze aggressive tendencies such as expansions, agreements, new product launches, and acquisitions in the market.

To strategically profile the key gamers and comprehensively analyze their boom strategies.

What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Updated : 2022-05-19 01:05 GMT+08:00