The Asia Pacific leads the global protective packaging market, and projection of the highest growth over the forecast period is anticipated. Countries like China and India are slated to experience the fastest growth in the world. Producers concentrate on creating low-cost, safe packaging solutions. Several of the main factors driving the market growth are rapidly rising electronics and e-commerce industries and increasing demand for paper & paperboard packaging, which includes folding, corrugated board or cardboard, secure mailers, and others. Also, the higher available revenue in developed countries such as India, China, and Indonesia increases the buying power of consumers. Consumer reliance on frozen, pre-cooked, and packaged foods are, therefore, likely to increase. As a result, the demand for safe packaging has been substantially impacted.
In its research report, Market Research Future (MRFR), emphasizes that the global protective packaging market 2020 is expected to grow exponentially over the review period, securing a substantial market valuation from USD 20.47 billion in 2017 to USD 35.91 billion at a healthy 4.07% CAGR over the review period.
The global protective packaging market has been segmented based on product type, material, application, and function.
The market, based on the product type, has been segmented into rigid protective, flexible protective, and foam protective.
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The market, based on the material, has been segmented into paper and paperboard, foam plastics, plastics, and others.
The market based on applications has been segmented into consumer goods, food and beverages, industrial goods, and others.
The market based on function has been segmented into flexible cushioning, insulation, wrapping, void-fill, and others.
The major market players operating in the global market as identified by MRFR are Packaging Corporation of America (U.S.), Springpack (U.K), Max Packaging (India), Sealed Air Corporation (U.S.), Protective Packaging Solutions (U.S.), Pregis Corporation (U.S.), Smurfit Kappa Group (U.K), Bayer AG Germany, FP International (U.S.), ACH Foam Technologies LLC (U.S.), BASF SE Germany, Macfarlane Group (U.K), Cellofoam North America Incorporated (U.S.), Universal Protective Packaging (U.S.), Unisource Worldwide (U.S.), and Ecovative Design LLC (U.S.).
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