Protective Packaging Market

Protective Packaging Market - An Overview

The global protective packaging market is expected to witness strong growth during the forecast period between 2021 and 2031.

Protective packaging offers protection in the form of flexible cushioning, surface protection, filling voids, and wrapping.

Protective packaging solutions are witnessing high demand, especially in food and beverages industry owing to characteristics such as improved durability, increased product shelf life, and improved protection.

Aside food and beverages, some of the other end-use industries that have deployed protective packaging solutions include consumer electronics, electronic appliances, automotive, and healthcare.

Protective Packaging Market - Trends and Opportunities

Increasing manufacturing operations in leading economies globally is the key growth driver of global protective packaging market.

Also, growing demand from food and beverages industry is expected to help create revenue-generation opportunities for prominent players for leading players in protective packaging market, in the coming years.

In addition to this, growing demand for flexible packaging solutions is anticipated to trigger the growth in protective packaging market, in years to come.

Another factor that could contribute to growth in overall protective packaging market is rising need to increase product shelf-life.

Other factors such as rising disposable income among population sections and rapid urbanization could also augment the growth in global protective packaging market, in the years ahead.

Flexible protective packaging solutions is expected to emerge as largest revenue contributor to overall market in future owing to reduced space occupancy by these solutions in prominent countries worldwide.

Plastic protective packaging material segment is projected to emerge as largest contributor, in terms of revenue, to overall protective packaging market due to factors such as reduced manufacturing costs and ease of availability in leading economies globally.

Protective Packaging Market - Competitive Landscape

Competition in global protective packaging market is intense owing to increased presence of prominent players. Many of the leading players are expected to account for a large share in overall market, in the coming years.

Launch of new protective packaging solutions could help well-established market players in gaining a competitive edge over other players and in generating new revenue streams.

Smurfit Kappa, in February 2021, announced the launch of new protective packaging solution which has proven beneficial for smaller businesses as well as for beverages companies, worldwide.

Research and development activities could be key, revenue-generating growth strategy for leading market players, in the coming years.

Other strategies such as signing collaborative agreements with smaller players could help prominent protective packaging market players in expanding their presence in overall market and increasing their revenue.

Some of the well-established players include Sealed Air Corporation, Sonoco, DOW, and Smurfit Kappa.

Protective Packaging Market - Regional Assessment

The global protective packaging market is classified into five regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia Pacific is expected to be the dominant region in global protective packaging market owing to improving middle-class population and rising disposable income in countries such as India and China.

Prominent market players could look to establish research and development centers in Asia Pacific countries owing to ease of availability of key resources such as land and labor.

North America is anticipated to witness significant growth in overall protective packaging market owing to increasing demand from e-commerce industry to offer increased protection for shipped products in countries such as the U.S and Canada.

Europe is anticipated to witness moderate growth in overall protective packaging market because of reduced presence of prominent market players in countries such as the U.K and Germany.

Other regions of the world such as Latin America and Middle East and Africa are anticipated to witness sluggish growth in overall protective packaging market, in the coming years.