Packaging and Protective Packaging Market Overview:
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
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
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.
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)
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
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global packaging and protective packaging market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the materials used for packaging and protective packaging and their applications.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies and the prevailing market opportunities.
- Key market players and their strategies and developments are profiled in the report to understand the competitive outlook of the market.
Packaging and Protective Packaging Market Key Segments:
- Paper & Paperboard
- Rigid Plastics
- Blocking & Bracing
- Others (Vibration Dampening, Moisture Protection, UV & Weather Resistance, and Fireproofing)
- Other Consumer Goods
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East
- South & Central America