Protective Packaging Market Set For Rapid Growth, To Reach Value Around USD 39.85 Billion By 2024

Zion Market Research has published a new report titled “Protective Packaging Market – by Material (Paper & Paperboard, Foam Plastics, Plastics, and Others), by Type (Flexible, Rigid, and Foam), and by Application (Food & Beverages, Consumer Usable, Electronics, Personal Care, Medicines, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024”. According to the report, global demand for the protective packaging market was valued at approximately USD 27.12 billion in 2017 and is expected to generate revenue of around USD 39.85 billion by the end of 2024, growing at a CAGR of around 5.65% between 2018 and 2024.   

Browse the full "Protective Packaging Market: by Material (Paper & Paperboard, Foam Plastics, Plastics, and Others), by Type (Flexible, Rigid, and Foam), and by Application (Food & Beverages, Consumer Usable, Electronics, Personal Care, Medicines, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/protective-packaging-market 

Protective packaging is embraced in different applications such as electronics, pharmaceutical industries, and food & beverages. In order to protect the goods from getting damaged, most of the manufacturers, retailers are using large volumes of protective packaging such as air pillows or airbags, edge boards, bubble wraps, corrugated wrap, molded packaging, paper fills, and others. The booming e-commerce market is the major factor enhancing the demand for protective packing market. In addition to this, the increase in investments in R&D activities is anticipated to drive the market growth owing to the increase in the use of recyclable materials. Furthermore, rising adoption of protective packaging in the electronics and food & beverages division in order to give protection during transportation will considerably drive the global protective packaging market growth during the forecast period. Therefore, the market is expected to witness a high growth rate in upcoming years. 

Based on the type, the protective packaging market is segmented into flexible, rigid, and foam. Furthermore, the rigid segment is bifurcated into corrugated paperboard protectors and molded pulp. The flexible segment within the type is fragmented into protective mailers, air pillows, and paper fills. Foam can be in the form of molded foam, loose fill, foam rolls, and others. The flexible protective packaging segment accounted for a major revenue share in 2017 and is projected to continue its supremacy during the forecast period. Flexible protective packaging offers convenient packaging, which can be wrapped according to the size and shape of the product. Increase in the consumption of food & beverage, beauty, and dairy products is the major factor contributing to increasing the demand for flexible protective packaging

On the basis of application, the protective packaging market is segmented into food & beverages, consumer usable, electronics, personal care, medicines, and others. Food & beverage segment accounted for a major market share in 2017 and the trend is anticipated to continue over the forecast timeframe. Increase in the demand for food and beverage industry is the major factor driving the market growth during the forecast timeframe.

Regionally, Asia Pacific is dominating the market and is estimated to continue its dominance during the forecast period. The growth in this region is attributed to rising demands for protective packaging in the emerging countries such as India and China also coupled with the growing industries such as electronics and food & beverage. North America is estimated to hold the largest market share followed by the Asia Pacific during the forecast timeframe. Europe is projected to grow at a comparatively faster rate, leading to the overall market growth in this region.

Some of the key players operating in the global protective packaging market are Unisource Worldwide, ACH Foam Technologies LLC, Protective Packaging Solutions, Sealed Air, IVEX Protective Packaging, Packaging Corporation of America, Macfarlane Group, and Automated Packaging Systems Incorporated. Other key players in the global protective packaging market include the Cascades, Sonoco Products, Spring pack, Max Packaging, Smurfit Kappa Group, Universal Protective Packaging, FP International, Geami, EPS and EPE, Ecovative Design LLC, Cellofoam North America Incorporated, BASF SE, and Bayer AG.

This report segments the protective packaging market as follows:

Protective Packaging Market: Material Segment Analysis

• Paper & Paperboard
• Foam Plastics
• Plastics and Others

Protective Packaging Market: Type Segment Analysis

• Flexible
• Rigid 
• Foam

Protective Packaging Market: Application Segment Analysis

• Food & Beverages
• Consumer Usable
• Electronics
• Personal Care
• Medicines
• Others

Protective Packaging Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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