Protective Packaging Market by Material (Foam Plastics, Paper and Paperboards, Plastics, Others), Type (Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging), Application (Food and Beverages, Industrial Goods, Healthcare, Automotive, Consumer Electronics, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 29.50 billion mark in 2022 and is expected to hit US$ 45.31 billion by 2030, recording a CAGR of 5.5% during the forecast period.
The protective packaging market has grown significantly due to online sales and emerging digital distribution platforms
The Protective packaging represents all those activities associated with producing, designing, and evaluating the container for a product. Protective packaging products protect the goods from electrostatic, vibration, atmospheric, magnetic, or shock damage. Protective packaging products are of various types, such as boxes, storage containers, packing materials, liners, and spacers. Protective packaging is used in multiple foods, pharmaceuticals, electronics, and other end-use industries. Also, consumer electronics sales are growing worldwide. Due to safe delivery and convenience, the population extensively buys from e-commerce platforms. This is driving the consumer electronics segment.
Within the report, the market is segmented into material, type, application, and geography. By material, the market is further segmented into foam plastics, paper and paperboards, plastics, and others. Based on type, the market is segmented into rigid protective packaging, flexible protective packaging, and foam protective packaging. By application, the market is categorized into food and beverages, industrial goods, healthcare, automotive, consumer electronics, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing technological advancements in the protective packaging industry augmenting the protective packaging market
International trade and industrialization have increased worldwide. Hence, end-use industries such as industrial goods and automotive demand protective packaging. Also, the high-volume and delicate products and parts used in such industries demand foam and rigid protective packaging solutions. Also, due to growing environmental sustainability, manufacturers focus on innovative sustainable solutions in packaging products. The advanced technology developments further drive the demand for protective packaging.
The rising food and beverage industry is one of the major factors accelerating markets’ growth
Since the COVID 19 pandemic, the population has inclined their consumer preferences toward healthy and nutritious food and beverages. The products such as dairy, desserts, and snacks need protective foam packaging. Also, flow wraps are getting famous worldwide due to their associated benefits. Additionally, the increased consumption of probiotic foods and beverages created a need to protect such products in a complex supply chain. All these factors drive the demand for protective packaging.
Recent strategic developments in the acerola extract market
The protective packaging market has undergone several significant developments, and a few of these have been mentioned below:
- In July 2021, Huhtamaki launched Push Tab paper, an industry-first sustainable renewable paper-based blister solution ideal for the global healthcare industry.
- In June 2022, Sonoco Products Company, a $2.6 billion global packaging company based in Hartsville, S.C., opened a new manufacturing operation in Delicias, Chihuahua, Mexico. The 20,000-square-foot facility, which represents an investment of nearly one million dollars, will produce composite paperboard canisters for Mead Johnson, a Bristol-Myers Squibb Company.
- In July 2020, Sonoco Products Company 'ThermoSafe' created an industrywide PharmaPortal Platform using IBM blockchain technology to help deliver improved transparency and traceability across the temperature-controlled pharmaceutical supply chain.
The protective packaging market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. DS Smith plc, Huhtamaki, Ranpak, Inc., Sonoco Products Company, and Sealed Air are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Protective Packaging-related service providers
- Protective packaging associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Films and wraps suppliers
- Aluminum foils suppliers
- Protective packaging distributors and sales firms
- End users of protective packaging
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Material:
- Foam Plastics
- Paper and Paperboard
- Plastics
- Others
- Type
- Rigid Protective Packaging
- Flexible Protective Packaging
- Foam Protective Packaging
- Application
- Food and Beverages
- Industrial Goods
- Healthcare
- Automotive
- Consumer Electronics
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- DS Smith plc
- Huhtamaki
- Ranpak Inc.
- Sonoco Products Company
- Sealed Air
Companies profiled
- DS Smith plc
- Huhtamaki
- Ranpak Inc.
- Sonoco Products Company
- Sealed Air