Protective Packaging Market Size, Share & Trends Analysis Report By Type (Flexible, Foam, Rigid), By Material (Paper & Paperboard, Plastic Foams, Plastic), By Function, By End-use (Automotive, Healthcare), By Region, And Segment Forecasts, 2023 - 2030

Protective Packaging Market Growth & Trends

The global protective packaging market size is expected to reach USD 50.15 billion by 2030, expanding at 5.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This market growth is primarily due to the rising consumer spending for packaged goods and increased demand from various end-uses such as industrial goods, food & beverage, and other industries.

Increased disposable income and a greater inclination to purchase a wide range of packaged consumer products in regions such as North America and Asia Pacific, the need for protective packaging to safeguard these goods during transportation, storage, and handling are key factors driving growth.

In addition, the protective packaging industry is increasingly being driven by the unboxing experience of electronic products, particularly among social media influencers. Brands that embrace this trend can connect customers to their websites and products more effectively. For instance, electronic manufacturers such as Apple and Samsung are investing in protective packaging solutions that provide appealing packaging as well as physical protection for the products enhancing the overall unboxing experience. This includes incorporating logo graphics and adding personalized touches to the protective packaging.

The industry players are adopting several strategies including partnerships, expansions, mergers & acquisitions, joint ventures, new product launches, and partnership agreements to increase the customer base and individual market share. For instance, in April 2023, Huhtamaki OYJ announced an expansion in its product portfolio range of protective packaging by launching sustainable and flexible packaging in recycled paper, polyethylene, and polypropylene.

Protective Packaging Market Report Highlights

• The protective packaging industry is driven by the expanding e-commerce sector in regions like North America and Europe. Furthermore, the growing smartphone penetration worldwide is fueling the demand for protective packaging, ensuring the protection of these devices from physical damage
• Flexible packaging has increased demand from several end-use industries as it offers a viable solution for packaging and protection of irregular items that are of different forms and sizes. It has high shock absorption capabilities to prevent all forms of physical damage to the product which drives the market demand for this segment
• The plastic foam segment is witnessing significant growth owing to its wide application in consumer electronics products such as smartphones on account of their excellent resilience and superior cushioning abilities
• The industrial goods segment accounted for one of the largest market shares in the base year 2022. Several key players such as Deufol SE are manufacturing protective packaging solutions for industrial goods in the market, which drives the demand for this segment
• Asia Pacific recorded a higher market share in 2022 owing to increased international trade and export in the region of food & beverage and consumer products requiring protective packaging solutions for long hours of transit and warehousing
• Several key companies are collaborating to strengthen their market positions in the protective packaging industry. For instance, in November 2022, Huhtamaki OYJ announced an expansion in its production capacity for sustainable paper-based protective packaging in Spain to meet the growing consumer demand

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