U.S Packaging and Protective Packaging Market 2032
The U.S. packaging and protective packaging market was valued at $185.3 billion in 2022 and is estimated to reach $247.2 billion by 2032, exhibiting a CAGR of 2.9% from 2023 to 2032.
Packaging and protective packaging is a wrapping or container made of plastic, paper, wood, metal, or glass used to store products temporarily to protect and extend their shelf life. This packaging protects the product from atmospheric, magnetic, electrostatic, vibration, or shock damage during shipping and storage. Moreover, it retains the freshness, flavor, and efficacy of the food products for a longer duration by protecting them from water, oxygen, dust, and microorganisms. Packaging and protective packaging includes roller stock, wrap, thermoform container, bubble packaging, protective mailer, air pillow, paper fill, corrugated box, molded pulp, insulated shipping container, paperboard protector, molded foam, foam-in-place, and loose fill.
Increase in purchasing power of consumers and fast-paced lifestyles boost the sales of packed food items in the U.S. where packaging and protective packaging products are widely used to protect food from outside influence and damage, provide consumers with ingredient & nutritional information, and others. This factor may surge the demand for a wide range of packaging and protective packaging products among the growing food sector in the U.S. during the forecast period. Furthermore, the rapid increase in the population, rise in pharmaceuticals R&D, up-gradation in technology, increased focus in the healthcare in the U.S. and rise in the incidence rate of chronic disorders has led the healthcare sector to witness significant growth. Packaging and protective packaging products are widely used in healthcare sector to protect pharmaceutical products and to ensure that they are stored correctly. Furthermore, the increase in incidence of contagious diseases and viruses has surged the demand for sterile medical equipment and products that are well-packed to ensure zero-contact with external environment. These factors altogether boost the growth of packaging and protective packaging market in the healthcare sector.
However, the U.S. Environmental Protection Agency (U.S.EPA) has banned the use of volatile organic compounds (VOCs) emitting materials used for packaging, thereby impeding the market growth.
On the contrary, petrochemicals-based plastics, such as polyethylene terephthalate (PET), PE, PVC, polystyrene (PS), and polypropylene, are widely used as packaging materials, owing to their easy availability and cost-effective nature. However, restrictions are being imposed on their usage due to their non-recyclability or non-biodegradability. Packaging done from these materials leads to contamination of food and biological stuff, resulting in wastage of thousands of tons of food, thus increasing the problem of municipal waste disposal. Biodegradable packaging has now become a necessity owing to the impacts of usage of these packaging materials. Manufacturers have invested heavily in R&D activities to develop packaging materials from biodegradable materials.
Manufacturers focus on producing packaging materials from biopolymers. These biopolymers need to be biodegradable and especially compostable, thus acting as fertilizers and soil conditioners. Development of biodegradable packaging material presents a major growth opportunity for the global packaging and protective packaging market.
The U.S. packaging and protective packaging market is segmented on the basis of material, function, application. On the basis of material, it is fragmented into paper & paperboard, rigid plastics, flexible, metal, glass, and others. On the basis of function, it is segmented into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. On the basis of application, it is classified into food, beverage, healthcare, cosmetics, industrial, and others.
By Material
Rigid Plastics is projected as the fastest growing segment
The paper and paperboard segment is projected to projected to account for the largest revenue generator during the forecast period and accounted for 33.5% of the U.S. packaging and protective packaging market share in 2022. Increase in demand for paper & paperboard packaging, especially from the food & beverage industry, and strict regulations on the use of plastic bags are anticipated to augment the demand for paper & paperboard for packaging applications during the forecast period.
By Function
Insulation is the most lucrative segment
In 2022, the insulation segment was the largest revenue generator, and is anticipated to grow at a CAGR of 3.2% during the forecast period. The increase in demand for frozen food, fish, meat, vegetables, fruits, medical supplies, and others in the U.S. have surged the potential application of insulation packaging that keep the product at a stable temperature regardless of the condition of packaging. This factor may act as one of the key drivers responsible for the growth of the U.S. packaging and protective packaging market for insulation packaging.
By Application
Healthcare is projected as the fastest growing segment
In 2022, the food segment was the largest revenue generator and is anticipated to grow at a CAGR of 3.2% during the forecast period. Various packaging materials used in the food sector offer benefits that lead to easy transportation and storage of food products. For example, glass used in food packaging is impermeable to gases and vapors, maintains product freshness for a long period of time without impairing taste or flavor, and is useful for heat sterilization. Furthermore, metal provides physical protection and consumer acceptance. Paper & paperboard is a lightweight packaging material and is projected to be recycled. All these factors are anticipated to increase the demand for protective packaging in the food sector during the analysis period.
The major companies profiled in this report include Protective Packaging Corporation, Protective Packaging Ltd, Universal Protective Packaging, Inc., Sealed Air, Sonoco Products Company, Ivex, Armor Protective Packaging, Polymer Packaging, Inc., PALLITE GROUP, and ProtecPac.
Report Key Highlighters
- The report provides competitive dynamics by evaluating business segments, product portfolios, target market revenue, geographical presence and key strategic developments by prominent manufacturers.
- The U.S. packaging and protective packaging market is consolidated in nature among prominent companies such as Protective Packaging Corporation, Protective Packaging Ltd, Universal Protective Packaging, Inc., Sealed Air, Sonoco Products Company, Polymer Packaging, Inc., and PALLITE GROUP.
- The study contains qualitative information such as the market dynamics (drivers, restraints, challenges, and opportunities), public policy analysis, pricing analysis, and Porter’s Five Force Analysis across the U.S.
- Latest trends in the U.S. packaging and protective packaging market such as manufacturer’s capacity, ongoing R&D, emergence of sustainable packaging products, and government initiatives are analyzed.
- More than 2,700 packaging and protective packaging-related product literatures, industry releases, annual reports, and other such documents of key industry participants along with authentic industry journals and government websites have been reviewed for generating high-value industry insights for the U.S. packaging and protective packaging market.
Key benefits for stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current organic chemicals market trends and future estimations from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
IMPACT OF COVID-19 ON THE U.S. PACKAGING AND PROTECTIVE PACKAGING MARKET
- The U.S. packaging and protective packaging market had minor impact due to the wake of the COVID-19 pandemic, owing to the disruptions in the supply chain for various personal hygiene, medical products, and other consumer goods.
- However, the packaging and protective packaging market is expected to recover rapidly post COVID-19 situation due to its increased dependency over healthcare, food & beverage, cosmetics, electrical & electronics, and other end use sectors.
U.S Packaging and Protective Packaging Market Report Highlights
| Aspects | Details |
 By Material |
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 By Function |
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 By Application |
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 Key Market Players | Protective Packaging Ltd, PALLITE GROUP, Protective Packaging Corporation, Sealed Air, Ivex, ProtecPac., Armor Protective Packaging, Universal Protective Packaging, Inc., Polymer Packaging, Inc., Sonoco Products Company |
Analyst Review
According to CXOs of leading companies, the U.S. packaging and protective packaging market is expected to exhibit high growth potential during the forecast period. Packaging and protective packaging are designed to protect the consumer and industrial goods from shock & vibration, atmospheric, magnetic, and electrostatic forces. Moreover, food & beverages that require excellent moisture resistance and reduction in product damage and food spoilage are expected to be accomplished with the use of packaging and protective packaging.
In addition, packaging and protective packaging products are widely used in healthcare sector to protect pharmaceutical products and to ensure that they are stored correctly. This has led to increase in potential application of packaging and protective packaging in the pharmaceutical sector. Furthermore, increase in awareness for eco-friendly products may surge the utilization of biodegradable packaging and protective packaging products during the forecast period. Moreover, rise in demand from end users, especially from developing countries, and continuous technological advancements boost the growth of the U.S. packaging & protective packaging market. However, lack of profit from niche market products is expected to hinder the market growth.
CXOs further added that sustained economic growth and development of the e-commerce sector may increase popularity of packaging and protective packaging.
Increase in trends toward packed food products and robust demand from the healthcare sector are the other major growth factors in the U.S. packaging and protective packaging market.
The U.S. packaging and protective packaging market was valued at $185.3 billion in 2022 and is estimated to reach $247.2 billion by 2032, exhibiting a CAGR of 2.9% from 2023 to 2032.
Protective Packaging Corporation, Protective Packaging Ltd, Universal Protective Packaging, Inc., Sealed Air, Sonoco Products Company, Ivex, Armor Protective Packaging, Polymer Packaging, Inc., PALLITE GROUP, and ProtecPac are the most established players in the U.S packaging and protective packaging market.
Food is the leading application of packaging and protective packaging.
The U.S. packaging and protective packaging market is segmented on the basis of material, function, application. On the basis of material, it is fragmented into paper & paperboard, rigid plastics, flexible, metal, glass, and others. On the basis of function, it is segmented into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. On the basis of application, it is classified into food, beverage, healthcare, cosmetics, industrial, and others.
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