Research Reports
Protective Packaging Market Forecast To Rise At A CAGR Of 4.8% From 2021 – 2031
Home > Research Reports > Protective Packaging Market Forecast To Rise At A CAGR Of 4.8% From 2021 – 2031
Global Banking & Finance Review®
Company
The protective packaging market is set to grow at a 4.8% CAGR from 2021 to 2031, driven by demand for safe transport solutions and flexible packaging.
Protective packaging solutions are predominantly used in industries to protect industrial and non-industrial goods from magnetic influences, vibration, shock, and electrostatic or atmospheric damage. According to a recent FMI report, the protective packaging market will surpass a valuation of US$ 26.5 Bn in 2021, exhibiting a CAGR of 4.8% between 2021 and 2031.
Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-626
The rising emphasis of manufacturers on safe and secure transportation of fragile and non-fragile products to reduce unnecessary maintenance and shipping costs is propelling the sales of protective packaging solutions in the market.
Additional benefits of protective packaging such as moisture and air barrier properties with high-level customization are driving market growth. FMI predicts that future demand and sales of protective packaging solutions will witness an upwards trajectory. Pivotal factors such rising output from the manufacturing sector coupled with swift penetration of transport and logistics worldwide is accelerating the growth of the protective packaging market substantially.
The COVID-19 pandemic and its global impact has adversely affected the global protective packaging market. Stringent and complete lockdowns in American, European and Asian countries resulted in a decline in the supply and sales of protective packaging solutions.
Fluctuation in demand from various end use industries has created negative impact on the demand of protective packaging solutions. The demand for protective packaging solutions will be sluggish for the next two quarters of 2021 as various countries across the globe are witnessing a new wave of the COVID-19 pandemic. Nevertheless, demand for protective packaging solutions will gain traction in the later part of 2021 as industries recover rapidly with adequate precautionary measures.
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-626
Key Takeaways from Protective Packaging Market
“Recent developments aimed at encouraging faster conveyance of heavy and light duty goods with precise and safe packaging solutions is fuelling the popularity of protective packaging offerings among end users. Evolving preferences of industry players as they exhibit higher focus on sustainability and paper-based corrugated packaging solutions are anticipated to create new growth avenues for protective packaging manufacturers,” says the FMI analyst.
For any queries linked with the report, ask an analyst
https://www.futuremarketinsights.com/ask-question/rep-gb-626
Protective Packaging Solutions Prevent Damage to Fragile Cargo
Handle with care warnings are displayed on fragile cargo as there is little margin for mistakes and mishandling. Fragile goods and items are oddly sized and fragile in nature, requiring a customized packaging solution to ensure safe and secure transportation.
Shipping and cargo industries employ protective packaging solutions for bracing of cargo, damage prevention, and securing products during transit. Protective air pillows, dunnage bags, shipping containers, mailers and more are designed to reduce the impact of jerky movements and to preserve the integrity of industrial goods including delicate items.
Lightweight protective packaging solutions are preferred for loading fragile goods. Products and goods with high importance are also included in the fragile category as it is necessary to protect and deliver them undamaged. Rising demand for such resilient yet easy-to-use packaging solutions for safe and secure shipments is propelling the protective packaging market.
Who is winning?
The Tier 3 players in the fragmented protective packaging market hold 75-85% of the overall market share. In conclusion, key players contribute almost 15-25% of the global market. Product development efforts coupled with capacity expansion strategies are likely to gain interest of major players in the market.
Sealed Air Corporation, Smurfit Kappa Group, DS Smith Plc, WestRock Company, Sonoco Products Company are the top players operating in the protective packaging market. Furthermore, Greif, International Paper Company, Cascades Inc, Schur Flexibles Holding GesmbH, Winpack Ltd, Crown Holdings Inc are also the noticeable players in the protective packaging market.
Explore FMI’s Extensive Coverage on Packaging Domain
Stretch Blow Molding Machines Market– Stretch Blow Molding Machines Market Is Projected To Total US$ 846 Mn In 2022.
Passive Temperature-Controlled Packaging Solutions Market– The global passive temperature-controlled packaging solutions market is estimated to reach US$ 10.6 Bn in 2021.
Packaging Tubes Market– The packaging tubes market is estimated at US$ 3.2 Bn in 2022 and is projected to reach US$ 4.4 Bn by 2028, at a CAGR of 5.0% from 2022 to 2028.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/protective-packaging-market
Press Release Source: https://www.futuremarketinsights.com/press-release/protective-packaging-market
The article discusses the growth forecast of the protective packaging market from 2021 to 2031.
Growth is driven by increased demand for safe transport solutions and flexible packaging options.
China and India show high growth potential with 7.5% and 9% CAGR respectively.
Explore more articles in the Research Reports category
