Packaging and Protective Packaging Market By Material (Paper and Paperboard, Rigid Plastics, Flexible, Metal, Glass, Others), By Function (Cushioning, Blocking and Bracing, Void-fill, Insulation, Wrapping, Others), By Application (Food, Beverage, Healthcare, Cosmetics, Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the packaging and protective packaging market analysis from 2021 to 2031 to identify the prevailing packaging and protective packaging market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the packaging and protective packaging market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global packaging and protective packaging market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Material
Paper and Paperboard
Rigid Plastics
Flexible
Metal
Glass
Others
By Function
Cushioning
Blocking and Bracing
Void-fill
Insulation
Wrapping
Others
By Application
Food
Beverage
Healthcare
Cosmetics
Industrial
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
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
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