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Protective Packaging Market Holds Growth Due To Increase in Consumer Spending On Packaged Goods Till 2025: Grand View Research, Inc.

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Protective Packaging Market Holds Growth Due To Increase in Consumer Spending On Packaged Goods Till 2025: Grand View Research, Inc.

September 06
08:34 2019
Protective Packaging Market Holds Growth Due To Increase in Consumer Spending On Packaged Goods Till 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Increasing demand from various end-use industries has been a key factor driving protective packaging market growth globally.

According to a report,”Protective Packaging Market Analysis, By Type (Flexible, Foam, Rigid), By Material (Paper & Paperboard, Plastic Foams, Plastic), By Function (Void Fill, Wrapping, Insulation, Blocking & Bracing, Cushioning), By End Use, By Region And Segment Forecasts, 2018 – 2025″, published by Grand View Research, Inc.,The global protective packaging market is expected to reach USD 44.6 billion by 2025, growing at a CAGR of 5.6%,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.

Key Takeaways from the report:

  • 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

U.S. protective packaging market revenue, by end-use, 2014 - 2025 (USD Billion)

Browse More Reports in Plastics, Polymers & Resins Industry:

  • Polymer Foam Market – The global polymer foam market size was valued at USD 109.71 billion in 2018 and is projected to expand at a CAGR of 4.0% from 2019 to 2025.
  • Thermoformed Plastics Market – The global thermoformed plastics market size was valued at USD 11.69 billion in 2018 and is expected to register a CAGR of 4.9% from 2019 to 2025. 

 

Global protective packaging market, by region, 2016 (%)

 

Regional Insights

Asia Pacific and North America are anticipated to be the major markets over the forecast years driven by rising demand from e-commerce industry for the protection of shipped products. Increasing consumer spending, continuous technological advancements, and improvements in manufacturing activities in Asia Pacific are driving the growth. The presence of high population economies such as China and India are contributing toward the growth of e-commerce industry, which, in turn, is likely to trigger the growth.

Asia Pacific accounted for 38.82% of the total global revenue in 2016. The region was followed by North America, which was valued at USD 7.36 billion million in 2016 and is projected to grow at 5.3% between 2017 and 2025. Several factors such as improving middle class, urbanization, and income levels of population are likely to contribute toward growth in North America.

Competitive Insights

The competition in global market is highly intensive and relatively integrated with the presence of major key players capturing a major revenue share in 2016. Key participants include Smurfit KAPPA Group; Westrock Company; Sealed Air Corporation; Sonoco Products Company; Huhtamaki OYJ; DS Smith PLC; Pregis LLC; Pro-Pac Packaging Limited; Storopack Hans Reichenecker Gmbh; The DOW Chemical Company; and Cascades Corporation.

In terms of rivalry, key industry players witness high competition among themselves owing to the highly fragmented nature. The degree of rivalry varies depending upon the product demand, innovation in technology, regulatory compliance, and distribution network. For instance, the market is concentrated in North America; whereas, in Asia Pacific, there is intense competition among players.

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About Grand View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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