DUBLIN, December 06, 2021--(BUSINESS WIRE)--The "Global Protective Packaging Market by Material (Foam Plastics, Paper & Paperboard), Type (Flexible, Rigid, Foam), Function (Cushioning, Blocking & Bracing, Void Fill), Application (Food & Beverage, Consumer Electronics), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The protective packaging market size is projected to grow from USD 29.8 billion in 2021 to USD 38.8 billion by 2026, at a CAGR of 5.4%.
The protective packaging market is growing owing to development of industrial goods, food & beverage, consumer electronics, and others sectors, which has led to increase in demand for protective packaging of various products.
Protective packaging is used to protect the product from damages such as shock, vibration, moisture, and compression during transportation, handling, and storage of products at warehouses. It offers features such as thermal & electrical insulation, shock dampening, fireproofing, and atmospheric protection to packed products.
Foam plastics is the largest material segment of the protective packaging market
The protective packaging market is segmented on the basis of material into foam plastics, paper & paperboard, plastics, and others. The foam plastics material segment accounted for the largest market share. The large market share is attributed to its lightweight, good thermal insulation, and shock-absorbing properties, which are suitable for protective packaging.
Flexible protective packaging is the largest type segment of the protective packaging market
The global protective packaging market is segmented on the basis of type into flexible protective packaging, rigid protective packaging, and foam protective packaging. The flexible protective packaging segment is expected to account for largest market share. This is attributed to the increasing demand for recyclable and cost-effective materials.
Cushioning is the largest function segment of the protective packaging market
The global protective packaging market is segmented on the basis of function into cushioning, void fill, wrapping, insulation, and blocking & bracing. Cushioning is projected to account for largest market share, as it protects fragile and lightweight items from damage during transportation and warehousing. Also, it restrains movement of the packed product and prevents damage from shock and vibration during transportation.
Industrial goods is the largest application segment of the protective packaging market
The global protective packaging market is segmented on the basis of application into industrial goods, food & beverage, healthcare, consumer electronics & appliances, automotive, household appliances, and others. Industrial goods accounted for largest market share. This is attributed to the rapid growth of industrial sector and transportation of intermediate goods for aerospace, electrical, and machinery goods for manufacturing.
APAC is the largest market for protective packaging market
The APAC region is the largest and fastest-growing protective packaging market. China is the largest and fastest-growing market in the region and is projected to dominate the regional market in the next five years. Key factors such as industrialization, rising internet penetration, growing manufacturing activities, increasing disposable income, rising consumption level, and the growing e-retail sales will drive the market during the forecast period.
Growth of the Packaging Industry in APAC
Growth of the E-Commerce Industry
Stringent Regulations for Packaging
Globalization and International Trade
Sustainability and Efficiency
Sealed Air Corporation
Ds Smith plc
Pro-Pac Packaging Limited
Intertape Polymer Group Inc. (Ipg)
International Paper Company
Universal Protective Packaging, Inc.
Riverside Paper Co.
Signode Protective Packaging Solutions
Ach Foam Technologies LLC
Cellofoam North America Incorporated
Storopack Hans Reichenecker
Protective Packaging Corporation
Apex Packaging Corporation
Wisconsin Foam Products
Ufp Technologies, Inc.
Ivex Protective Packaging
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View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005593/en/
Laura Wood, Senior Press Manager
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