Global Protective Packaging market is accounted for $31.25 billion in 2020 and is expected to reach $56.99 billion by 2028 growing at a CAGR of 7.8% during the forecast period. Some of the key factors propelling the market growth include increasing adoption for protective packaging across end-use industry such as food & beverage and healthcare, increasing manufacturing activities, rapid growth in demand for the conveniently packaged products, and stringent government regulation related to food & beverage product packaging quality.
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On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to the large customer base for household appliances and consumer electronics, due to the growth in population in countries of this region. Countries such as China and India are predicted to witness the highest growth within the region. Manufacturers are focusing on developing low-cost protective packaging options. Rapidly growing electronics industry and e-commerce sector and increasing the demand for paper & paperboard packaging, which includes folding, corrugated board or cardboard, protective mailers and others are some of the key factors accelerating the market growth. Moreover, higher disposable income in developing countries such as India, China, and Indonesia increases the purchasing power of customers. Hence, consumer dependence on processed, pre-cooked and packed foods is likely to increase. As a result, protective packaging market has been impacted, positively.
Some of the key players in Protective Packaging Market include Smurfit Kappa Group, Winpak Ltd., DS Smith Plc, Sealed Air Corporation, Crown Holdings Inc., Cascades Inc., Sonoco Products Company, Kureha Corporation, Coveris Holdings S.A., The DOW Chemical Company, Pregis Corporation, Westrock, Intertape Polymer Group Inc., Huhtamaki Group, International Paper Company, Litco International, Inc., and Bayer AG.
Materials Covered in Protective Packaging Market
• Foam Plastics
• Paper & Paperboard
• Other Materials
• Rigid Protective Packaging
• Flexible Protective Packaging
• Foam Protective Packaging
• Other Types
• Blocking & Bracing
• Cold Chain Solutions
• Surface Protection
• Other Functions
• Household Appliances
• Industrial Goods
• Consumer Usable
• Food & Beverage
• Durable Goods
• Nondurable Goods
• Personal Care
• Other Applications
Sales Channels Covered:
• Direct Sales
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