Protective packaging solutions are predominantly used in industries to prevent industrial and non-industrial goods from sustaining magnetic, vibration, shock, electrostatic or atmospheric damage. The rising emphasis of manufacturers on safe and secure transportation of fragile as well non-fragile products to reduce maintenance and shipping costs is propelling the sales of protective packaging.
According to Future Market Insights (FMI), the future demand for and sales of protective packaging solutions are poised to be promising and ascending. Pivotal factors such as rising manufacturing output from manufacturing sector coupled with swift penetration of transport and logistics sectors worldwide are accelerating the protective packaging market.
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‘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 prone to damage and require customized packaging solutions for safe and secure transportation. Even a small mistake in handling may lead to a massive financial loss for the product manufacturers. Heavy goods crushing lighter cargo is a prominent problem in the shipping of fragile goods and products.
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, and mailers are designed to reduce the impact of jerky movements and preserve integrity of goods.
Key Takeaways from Protective Packaging Market
- The global protective packaging market is likely to be valued at US$ 46.1 billion in 2033.
- By product type, flexible protective packaging segment is leading the global protective packaging solutions and is likely to have a 67% of the global market between 2023 and 2033.
- Based on material type, the plastic segment is projected to witness incremental opportunity of US$ 8.0 billion from 2023 to 2033.
- Void fill segment is projected to hold around 2/7th portion of the market and remain a prominent segment over the next decade.
- Highly lucrative Asia Pacific excluding Japan (APEJ) region is estimated offer an incremental opportunity of US$ 6.0 billion between 2023 and 2033.
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“The ability to offer faster conveyance of heavy as well as light duty goods with precise and safe packaging is set to fuel popularity of protective packaging solutions end-use industries. The shifting inclination of industry players towards sustainability and paper based corrugated packaging solutions is also anticipated to create lucrative opportunities for market participants.” Says an FMI analyst.
Who is Winning?
Innovation is at the forefront of key market players’ expansion strategies. FMI expects market participants to invest heavily in facility expansions to meet escalating demand in the years to come. Collaborations and strategic partnerships are also likely.
Sealed Air Corporation, Sonoco Products Company, Smurfit Kappa Group, Nefab Group, DS Smith Plc, Cordstrap B.V, Signode Industrial Group LLC, Greif Inc., and International Paper Company are the key players operating in the protective packaging market. Other noticeable players in the market include Cascades Inc., CargoTuff LLC, Storopack Hans Reichenecker Gmbh, RTS Packaging, LLC, Elsons International, Orcon Industries, and Plastix USA LLC.
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Get More Valuable Insights
Future Market Insights, in its new report, offers an unbiased analysis of the global protective packaging market, analyzing historical demand from 2014 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections on the protective packaging market on the basis of product type (rigid protective packaging, flexible protective packaging, foam protective packaging), material type (foamed plastic, plastic, paper), function type (void fill, wrapping, cushioning, blocking & bracing, insulation) across seven regions.
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