Based on the analysis by Fact.MR, the global plastic protective packaging market is estimated to reach US$ 17.7 billion in 2023 and it is anticipated to grow at a CAGR of 6.6% to reach US$ 33.5 billion by the end of 2033.
The plastic protective packaging market is a rapidly growing industry due to the increasing demand for protective packaging in various sectors such as e-commerce, healthcare, and food and beverages. Convenience, cost-effectiveness, and sustainability are the prominent factors driving the market growth.
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Key Takeaways from Market Study
- Plastic protective packaging market is set to reach a valuation of US$ 17.7 billion in 2023 and projects a growth rate of 6.6% from 2023–2033
- The plastic protective packaging market is estimated to display a valuation of US$ 33.5 billion in 2033
- North America is a prominent region that is estimated to hold a market share of 23.2% in 2023
- Predominating market players include Berry Global Group, Sealed Air Corporation, and Smurfit Kappa Group
- Tier-1 manufacturers of plastic protective packaging account for over 17–19% share of the global market
Eminent Players Key Stratagems:
Prominent plastic protective packaging manufacturers are Berry Global Group Inc., Buergofol GmbH, Coveris Holdings S.A., Flexopack S.A., Intertape Polymer Group Inc., Kureha Corporation, PREMIUM PACK GmbH, Schur Flexibles Group, Sealed Air Corporation, Smurfit Kappa Group, and among others
The global plastic protective packaging market is a highly fragmented market. The global market is highly competitive in nature with a strong presence of prominent manufacturers. Such a strong presence and high capital investment of key market players have created barriers for new market players. Currently, due to the consumers rising preference for eco-friendly products many of the market players are introducing bio-based or biodegradable plastic protective packaging solutions to increase their revenue by attracting consumers to their solutions. For instance:
- In September 2022, DUNAPACK launches Rio, the new air packaging recycled plastic. This new film is made from 70% recycled and recyclable plastic. Available in multiple sizes, the new RIO cushion aims to reduce the consumption of virgin plastic and the environmental impact of packaging systems
Fact.MR has provided detailed information about the price points of key manufacturers of plastic protective packaging positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Plastic Protective Packaging Industry Research:
· By Material :
- Air Cushion
- PP
- HDPE
- LDPE
- LLDPE
- Plastic Mailer
- PP
- HDPE
- LDPE
- LLDPE
- Bubble
- PP
- HDPE
- LDPE
- LLDPE
- Dunnage Bags
- PP
- HDPE
- LDPE
- PVC
- Sleeves
- PP
- HDPE
- LDPE
- PVC
- Shrink Wrap
- PP
- HDPE
- LDPE
- LLDPE
- PVC
- Stretch Wrap
- PP
- HDPE
- LDPE
- LLDPE
- PVC
- Stretch Hood
- HDPE
- LDPE
- LLDPE
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Questionnaire answered in the Market outlook Report of Plastic Protective Packaging include:
- What is the key strategy deployed by large players to maximize Plastic Protective Packaging Market growth?
- What are the main challenges faced by players in the Plastic Protective Packaging market Demand?
- With the advent of technological advancement, how will the Plastic Protective Packaging market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Plastic Protective Packaging market size?
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