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MA_172295
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Pages: 180
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May 2017 | 2637 Views
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Author(s) :
Ashmita Roy
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Tables: 75
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Charts: 25
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Global Packaging and Protective Packaging Market was valued at $757 billion in 2016, and is expected to reach $1,014 billion by 2023, registering a CAGR of 4.3% from 2017 to 2023. Packaging and protective packaging is intended to protect goods from loss, damage, and theft during transport, distribution, and storage. This process includes containers or wrapping that hold several items together, which provide a stable platform for transport. It is used in across various areas of the supply chain, such as at the assembly line, transportation, warehouses, and order picking to withstand different static and dynamic forces. It also gives protection from climatic conditions, such as solar radiation, temperature, humidity, and precipitation.
The global packaging and protective packaging market is segmented based on material, function, application, and geography. By material, the market is classified into paper & paperboard, rigid plastics, flexible, metal, glass, and others. By function, it is divided into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others (vibration dampening, moisture protection, UV & weather resistance, and fireproofing). The application segment includes food, beverage, healthcare, cosmetics, industrial, and other consumer goods. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Packaging and Protective Packaging Market Segmentation
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Asia-Pacific is the largest revenue contributor to the global market, owing to the increased manufacturing activities in emerging economies, such as India and China, carried out to meet the rising populations demand. China dominated the packaging and protective packaging market, in terms of revenue, accounting for largest share in Asia-Pacific region in 2016.
Top Investment Pockets
Food industry is the most attractive application in the global packaging and protective packaging market, which is expected to grow at a CAGR of 4.6% during the forecast period. Packaging improves the shelf life of the products, protects the products from damage, and retains freshness, flavor, and efficacy to adhere to the regulatory guidelines and end-user requirements. Increase in consumption of fast-moving consumer goods (FMCG) in the Asia-Pacific region has led to increased consumption of packaging and protective packaging in food applications. The healthcare segment is the second most attractive market, which is expected to grow at a CAGR of 7.2% from 2017 to 2023.
Global Packaging and Protective Packaging Market Top Investment Pockets, By Application
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Segment Review
In 2016, paper & paperboard material accounted for the highest revenue to the global market. It is expected to maintain its dominance during the forecast period, growing at a CAGR of 4.2%. Rapid growth of electronics industry and e-commerce sector, specifically in China and India, is expected increase the demand for paper & paperboard packaging, such as folding, corrugated board or cardboard, protective mailers, and lose fills.
LAMEA Review
Growing economies and burgeoning middle class section in South & Central American countries such as Brazil, Argentina, Costa Rica and others have led to growth of food and consumer goods industry. According to an iCD Research industry study, Brazils large manufacturing base and well-developed agro-export industry are expected to drive the packaging and protective packaging market. The Brazilian agro-products industry, with a global share of 25% of the world food market, is the key factor that accelerates the market growth.
South & Central America Packaging and Protective Packaging Market, 2015-2023 ($Million)
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The key players profiled in the report include Smurfit KAPPA Group PLC, Rocktenn Company, Sealed Air Corporation, Sonoco Products Company, Huhtamaki OYJ, DS Smith PLC, Pregis Corporation, Pro-Pac Packaging Limited, Storopack Hans Reichenecker GmbH, and The DOW Chemical Company.
The other key market players (not profiled in this report) in the value chain include Jiffy Packaging Co. Limited, Barton Jones Packaging LTD, Automated Packaging System, Inc., iVEX Protective Packaging Inc., FP International, Packaging Corporation of America, Universal Protective Packaging, ACH Foam Technologies LLC, Macfarlane Group, and Tarheel Paper & Supply Company.
Key Benefits for Stakeholders
Packaging and protective packaging makes use of boxes, storage containers, protective dunnage, pallets, packing materials, liners, spacers, wraps, roll stocks, and thermoform containers, which are made of plastics, paper & paperboards, metals, wood, and glass. These products are designed to protect the consumer and industrial goods from shock & vibration and atmospheric, magnetic, and electrostatic forces during storage or transit. In addition, certain type of packaging is used to protect the inside content or product from water, oxygen, dust, and microorganism. For example, aseptically packaged food products in paper & paperboards, plastics, and metal packaging retain freshness, flavor, and efficacy for a longer duration. Â
Increased penetration of internet and mobile handsets in emerging economies, such as China, India, Brazil, and Indonesia, has led to increase in online shopping. Rise in purchase of food products, clothing, electronics devices, household appliances, and others has led to increased consumption of packaging, such as corrugated boxes, paperboard protectors, bubble packaging, air pillows, molded foams, and loose fills. Moreover, rapid growth of food and consumer electronics industries, and improvement in manufacturing activities globally to meet the rising demand boost the consumption of packaging & protective packaging.
Increase in R&D activities by various market players to produce biodegradable and sustainable packaging & protective packaging is expected to provide new opportunities for the packaging manufacturers, leading to market expansion.
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