PUBLISHER: Allied Market Research | PRODUCT CODE: 1225004
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225004
The packaging and protective packaging market was valued for $1.0 trillion in 2021 and is estimated to reach $1.5 trillion by 2031, exhibiting a CAGR of 4.3% from 2022 to 2031.
Packaging and protective packaging is designed to protect the consumer and industrial goods from shock & vibration and atmospheric, magnetic, and electrostatic forces. Various boxes, storage containers, packing materials, liners, and spacers made of plastic & plastic foams, paper & paperboards, metals, glass, and woods are used for packaging. Various functions of packaging include electrical insulation, thermal insulation, fireproofing, moisture & vapor protection, shock & vibration damping, and UV & weather resistance. Other types of packaging create a protection barrier from oxygen, moisture, and dust to retain the freshness and efficacy of food products. The type of product being packaged and the environmental conditions from which the product must be protected determine the material and type of packaging to be employed.
Increase in demand from the food & beverages industry, coupled with a rapid change in eating habits of consumers, fuels the demand for rigid plastics across the globe. Moreover, rise in investments in R&D activities and increase in use of natural raw materials in the manufacture of rigid plastics are further expected to propel the overall demand. In addition to this, growing awareness for self-grooming activities have led the personal care sector to witness a significant growth where rigid plastics are used as a packaging material for a wide range of cosmetic creams, lotions, powders, and others. This may further aid the growth of the packaging and protective packaging market. Increase in demand for flexible packaging, especially from cosmetics, healthcare, toiletries, household products, food & beverages, agricultural products, and sporting goods industries, is anticipated to provide impetus to the overall demand for flexible packaging in the future. Moreover, shift in trends towards convenient and cost-effective packaging due to lightweight characteristics and ease of use are further expected to boost its demand.
However, volatile organic compound (VOC) emission during the manufacturing and curing processes of plastic and plastic foam-based packaging has led to the formulation of various regulations on packaging manufacturers. Moreover, regulatory norms on packaging and protective packaging related to food contact application and pharmaceutical products may hamper the market growth. On the contrary, increase in R&D activities by various market players to produce biodegradable packaging and protective packaging is expected to provide opportunities for the packaging manufacturer.
The packaging and protective packaging market is segmented on the basis of material, function, application, and region. On the basis of material, it is fragmented into paper & paperboard, rigid plastics, flexible, metal, glass, and others. By function, it is segmented into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. By application, it is classified into food, beverage, healthcare, cosmetics, industrial, and other consumer goods. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global packaging and protective packaging market profiles leading players that include Smurfit Kappa Group PLC, DS Smith, Huhtamaki, Pregis LLC, Sealed Air, Sonoco Products Company, Amcor PLC, Pro-Pac Packaging Limited, Storopack Hans Reichenecker GmbH, International Paper. The global packaging and protective packaging market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
By Material
By Function
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