Global Protective Packaging market growth 2024, Forecast To 2033
4 Mar, 2024
The protective packaging market size has shown strong growth, rising from$32.92 billion in 2023 to$35.25 billion in 2024, with a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period is attributed to the increase in consumer electronics, rise in sustainable packaging, focus on brand image, awareness of product safety, growth in the automotive industry, and globalization of supply chains. Positioned for further expansion, the market is expected to grow to$45.88 billion in 2028, boasting a CAGR of 6.8%. Major trends in the forecast period include innovations in material technologies, demand for flexible packaging, evolving regulations on packaging materials, focus on lightweight packaging, collaborations across the supply chain, and e-commerce-friendly packaging designs.
Global Protective Packaging Market Key Driver
The growth of the e-commerce industry is expected to propel the growth of the protective packaging market going forward. E-commerce is the practice of purchasing and reselling products and services online, which includes business-to-business (B2B), business-to-consumer (B2C), and other business models. In the e-commerce industry, protective packaging helps to protect commodities from potential harm or damage during transportation, logistics, and warehousing and allows companies to manage the logistics chain more efficiently and products to reach their end customers in perfect conditions. For instance, in August 2023, according to the United States Census Bureau, a US-based government agency, compared to the second quarter of 2022, the estimate for e-commerce in the second quarter of 2023 climbed by 7.5% (or 1.4%), while overall retail sales rose by 0.6% (or 0.4%). 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the growth of the e-commerce industry is driving the growth of the protective packaging market. The protective packaging market is poised to reach a value of $XX billion by 2023, with further expansion anticipated through 2024 and 2028.
Get A Free Sample Of The Global Protective Packaging Market ReportGlobal Protective Packaging Market Segments
The global protective packaging market covered in this report is segmented –
1) By Type: Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging
2) By Material: Foam Plastics, Paper And Paperboard, Plastics, Other Materials
3) By Function: Cushioning, Blocking And Bracing, Void Fill, Insulation, Wrapping
4) By End-User Industry: Food And Beverage, Industrial Goods, Automotive, Household Appliances, Pharmaceuticals, Other End-User Industries
By Geography: The regions covered in the protective packaging market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the protective packaging market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the protective packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Protective Packaging Industry Players
The Smurfit Kappa Group PLC, Sealed Air Corporation, Sonoco Products Company, Huhtamäki Oyj, Dow Inc., Smurfit Kappa Group PLC, DS Smith PLC, International Paper Company, WestRock Company, Ball Corporation, Oji Holdings Corporation, Advanced Protective Packaging Inc., Storopack Hans Reichenecker GmbH, Packaging One GmbH, ITP Packaging Limited, Amcor PLC, Anchor Packaging Inc., ALPLA Werke Alwin Lehner GmbH & Co. KG, Pregis LLC, Ranpak Corp., Pactiv LLC, Intertape Polymer Group Inc., Cascades Inc., Berry Global Group Inc., Mondi Group, Pro-Pac Packaging Group Pty. Ltd., Nefab AB, Unisource Worldwide Inc., Tekni-Plex Inc., Bway Corporation
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Protective Packaging Market Overview
Protective packaging refers to the special type of packaging that is purposely used to shield mailed items to provide protection, buffer, and insulation from any physical harm and damage during the unpredictable shipping process. Protective packaging are used to protect and buffer commodities from potential harm or damage during transportation, logistics, and warehousing.
Protective Packaging Global Market Report 2023 provides data on the global protective packaging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The protective packaging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.