Protective Packaging Market Size is Projected to Reach USD 43.79 Billion in 2029 while exhibiting a CAGR of 5.0%

According to Exactitude Consultancy the Global Protective Packaging Market value is expected to reach USD 43.79 billion by 2029, growing at a 5.0% CAGR | Trends that will shape the future of packaging to 2023 - 2029, Economic and demographic growth

PUNE, India, April 20, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Protective Packaging Market.

The global protective packaging market is expected to grow at 5.0% CAGR from 2023 to 2029. It is expected to reach above USD 43.79 billion by 2029 from USD 27.24 billion in 2022.

Protective packaging finds application in various industries such as food, electronics, and pharmaceuticals. The main categories of protective packaging are rigid, foam, and flexible. Protective packaging serves to safeguard industrial products, machinery, and equipment during storage and transit, offering protection through blocking and bracing, flexible cushioning, protective containment, void fill, wrapping, and surface protection.

This report aims to analyze the trends and opportunities of the global protective packaging market. The study employs qualitative and quantitative methods, using reliable projections and comprehensive research methodologies to comprehend the present state of the market and predict its behavior during the forecast period. Our research team conducted industry-oriented measures, including interviews with industry experts, accessing secondary resources such as industrial databases, journals, and magazines, as well as utilizing primary resources.

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Protective Packaging Market Overview

Protective packaging refers to the packaging materials and methods used to protect products during transportation, storage, and handling. The main objective of protective packaging is to ensure that the products reach their destination in their original condition, without damage or loss. Protective packaging is essential for products that are fragile, perishable, or have high-value, such as electronic components, medical equipment, and food products.

The protective packaging market is driven by several factors, including:

1. E-commerce: With the growth of e-commerce, the demand for protective packaging has increased significantly. E-commerce companies need to ensure that the products are protected during transportation and handling, which has led to an increased demand for protective packaging.
2. Growth in the Healthcare Industry: The healthcare industry is a significant driver of the protective packaging market. Medical equipment and devices require protective packaging to prevent damage and contamination during transportation and storage.
3. Increased Concerns for Sustainability: With increasing concerns for sustainability, there is a growing demand for eco-friendly protective packaging materials. Companies are increasingly adopting sustainable packaging materials such as recycled and biodegradable materials.
4. Technological Advancements: Technological advancements in the protective packaging industry have led to the development of innovative packaging materials and methods. For example, the use of advanced materials such as foam and bubble wrap, which offer superior protection to products during transportation.

However, there are also some challenges that the protective packaging market faces, including:

1. Cost: Protective packaging materials can be expensive, which can increase the overall cost of the product.
2. Environmental Concerns: The use of protective packaging materials, such as plastics, can have a negative impact on the environment. Companies are increasingly under pressure to adopt more sustainable and eco-friendly packaging materials.
3. Limited Storage Space: Protective packaging materials can take up a lot of storage space, which can be a challenge for companies with limited storage space.

Overall, the protective packaging market is expected to continue to grow due to the increasing demand for safe and secure transportation of products.

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Key Benefits for Stakeholders:

• This report provides a quantitative analysis of the current trends, estimations, and dynamics which assists to identify the prevailing market opportunities.
• Major countries in each region are studied to evaluate trends and opportunities of the market.
• The region-wise and country-wise market conditions are comprehensively analyzed in the report.
• Key players of the protective packaging market are also listed.
• This study evaluates value chain to understand the competitive environment across geographies.
• An in-depth analysis of the segmentation is provided to elucidate the dominant opportunities.

Key Takeaways:

• Asia Pacific region has accounted 33% revenue share in 2021.
• US is predicted to grow at a remarkable CAGR of 5.0% from 2023 to 2029.
• By material, the plastics materials segment has held market share of over 44.75% in 2022.
• By the foam, protective packaging segment continued to have the maximum share of the global market.
• Flexible protective packaging segment is growing at a CAGR of 5.3% from 2023 to 2029.
• By function, the cushioning segment has held market share of 25.20% from 2023 to 2029.

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Recent Developments:

• In August 2021, in order to develop its corrugated plant in Culiacan, Northwest Mexico, Smurfit Kappa invested USD 22 million. The increased capacity, capabilities, and product selections for local consumers in the fresh produce area show the company's sustained commitment to the Mexican market. With the installation of cutting-edge high-tech equipment and the construction of a new building that will contain a new corrugator and an automatic Rotary Die Cutter (RDC) that will be completely operational by the end of 2021, the investment seeks to upgrade and expand the company.
• In July 2021, Smurfit Kappa bought the Cartonbox folding carton enterprise in Monterrey, a city in northeastern Mexico. The company will be in a better position to compete in the Mexican market for paper packaging solutions as a consequence, and it will be able to expand to four more folding carton locations.
• In February 2021, Smurfit Kappa unveiled a new packaging option for their environmentally friendly TopClip product. For packaging beverage multi-packs, TopClip is a paper-based substitute for plastic shrinkwraps. This packaging method was designed for smaller businesses and brands, so it can be used by beverage firms of all sizes.
• In August 2020, Sealed Air Company said that it has entered into a collaboration deal with Plastic Energy, a market leader in cutting-edge recycling technologies. Moreover, Plastic Energy Global has received equity funding from Sealed Air.

 Key Market Segments: Protective Packaging Market

Protective Packaging Market By Material Type, 2023-2029, (USD Billion), (Kilotons)

• Foam Plastics
• Paper & Paperboard
• Plastics
• Others (Wood and Glass)

Protective Packaging Market By Product Type, 2023-2029, (USD Billion), (Kilotons)

• Flexible
• Protective Mailers
• Bubble Packaging
• Air Pillows
• Paper Fill
• Dunnage Bags
• Foam
• Insulated Shipping Containers
• Molded Foam
• Foam-In-Place Polyurethane
• Polyolefin Rolled Foam
• Loose Fill
• Rigid
• Paperboard Protectors
• Molded Pulp

Protective Packaging Market By Function, 2023-2029, (USD Billion), (Kilotons)

• Wrapping
• Void-Fill
• Insulation
• Cushioning
• Blocking And Bracing

Protective Packaging Market By End-User Industry, 2023-2029, (USD Billion), (Kilotons)

• Food & Beverage
• Consumer Electronics
• Industrial Goods
• Automotive
• Household Appliances
• Pharmaceuticals

Protective Packaging Market By Region, 2023-2029, (USD Billion), (Kilotons)

• North America
• Asia Pacific
• Europe
• South America
• Middle East and Africa

Important Countries in All Regions Are Covered.

 Frequently Asked Questions About This Report

• How big is the Protective Packaging Market?
• The global protective packaging market is expected to grow at 5.0 % CAGR from 2023 to 2029. It is expected to reach above USD 43.79 billion by 2029 from USD 27.24 billion in 2022.
• What is the worth of the global Protective Packaging Market?
• The rise in the e-commerce industry and manufacturing activities have propelled the global protective packaging market and is projected to grow at a healthy rate over the next five years. The market for protective packaging is fueled by rising consumer spending for packed goods and online shopping.
• Which is the leading application of the Protective Packaging Market?

Industrial goods are the largest application segment of the protective packaging market. The global protective packaging market is segmented based on application into industrial goods, food & beverage, healthcare, consumer electronics & appliances, automotive, household appliances, and others.

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About Exactitude Consultancy

Exactitude Consultancy is a market research consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

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SOURCE Exactitude Consultancy

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