The global protective packaging market is expected to reach USD 44.6 billion by 2025, growing at a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Increasing demand from various end-use industries has been a key factor driving market growth globally. In addition, continuous technological innovations and increasing consumer spending across the world are also fueling packaging demand.
Flexible packaging segment held the largest market share in 2016 owing to increasing preference for online shopping among consumers. Online retail channels widely use a wide range of flexible packaging products such as flexible foam, paper fills, air pillows, bubble wraps, and dunnage bags for filling empty spaces, wrapping, and blocking & bracing. Stringent regulations pertaining to the degradability of packaging materials are anticipated to restrain market growth over the forecast period.
Factors such as ensuring positive customer experience and meeting their requirements are extremely important for companies. The packaging of a product is likely to be the first tangible interaction with a customer. E-commerce companies are required to meet numerous packaging standards such as protective packaging design, sustainability, operational throughput, material cost reduction, and supply chain cost reduction. This, in turn, is anticipated to help companies in improving their bottom line and retain long-term customers.
Key market players are investing heavily in R&D activities to develop sustainable and environment-friendly packaging materials that can be reused and recycled. Growing popularity of online shopping and increasing adoption of protective materials for packaging are anticipated to have a positive impact on protective packaging market over the forecast period. Increased demand spurs investment for protective packaging, especially in e-commerce applications. Numerous packaging companies are striving to achieve the preferred vendor status among customers.
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Further key findings from the report suggest:
The global protective packaging demand was valued at USD 27.42 billion in 2016 and is expected denote a CAGR of 5.6% from 2017 to 2025. Food & beverage emerged as the largest end-use segment in 2016 and is expected to register a predicted CAGR of 6.0% between 2017 and 2025.
The global rigid protective packaging segment was valued at USD 3.92 billion in 2016 and is anticipated to witness significant growth over the next eight years. Healthcare segment in Mexico market was USD 59.0 million in 2016 and is projected to grow at a rate of 4.4% from 2017 to 2025.
Asia Pacific market is projected to experience substantial growth over the next eight years owing to rising demand from various end-use industries, especially from consumer electronics and healthcare markets. In terms of revenue, APAC is expected to register a CAGR of 7.0% between 2017 and 2025.
Key players including Smurfit KAPPA Group; Westrock Company; Sealed Air Corporation; Sonoco Products Company; Huhtamaki OYJ; DS Smith PLC; and Pregis LLC dominated the global market
Grand View Research has segmented the global protective packaging market on the basis of type, material, function, end use, and region:
Type Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
Material Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
Paper & Paperboard
Function Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
Blocking & Bracing
End-use Outlook (Volume, Million Tons; Revenue, USD Million; 2014 - 2025)
Food & Beverage
Regional Outlook (Revenue, USD Million; 2014 - 2025)
Central & South America
Middle East & Africa
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