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According to the new market research report “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 – Global Forecast to 2026″, size is estimated at USD 29.8 billion in 2021 and is projected to reach USD 38.8 billion by 2026, at a CAGR of 5.4%. The global protective packaging market is projected to grow at a healthy rate over the next five years, supported by the rising e-commerce industry and manufacturing activities. The increasing popularity of online shopping and rising consumer spending for packed goods are fueling the demand for protective packaging.
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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 lightwieight, good thermal insulation, and shock-absorbing properties, which are suitable for protective packaging.
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.
Browse and in-depth TOC on “Protective Packaging Market – Global Forecast to 2026”
361 – Tables
63 – Figures
305 – Pages
View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/protective-packaging-market-39055502.html
The global protective packaging market size is estimated at USD 29.8 billion in 2021 and is projected to reach USD 38.8 billion by 2026, at a CAGR of 5.4%, between 2021 and 2026. 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.
The key players in the protective packaging market are Smurfit Kappa (Ireland), Sealed Air Corporation (US), Sonoco (US), Huhtamaki (Finland), DOW (US), and others. The protective packaging market report analyzes the key growth strategies adopted by the leading market players, between 2016 and 2021, which include expansions, mergers & acquisition, new product developments/launch, and collaborations.
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Smurfit Kappa (US) is an integrated manufacturer of paper-based packaging products. The company manufactures, distributes, and sells corrugated containers, containerboard, and other paper-based packaging products such as graphic board, solid board, and bag-in-box. It has its operations in Europe, South America, and North America. The company operates in 21 countries in Europe and 11 countries in the Americas. It has 34 mills, 229 converting plants, 48 recovered fiber facilities and two wood procurement operations, and 31 other production facilities. The company’s end customer is the corrugated packaging market, which uses packaging for product marketing, protection, and selling purposes. Smurfit Kappa Holdings Italia, S.p.A. (Italy), Smurfit Kappa Holdings (US), Smurfit Kappa Ireland Limited (Ireland), and Smurfit Kappa Packaging UK Limited (England) are some of the subsidiaries of the company.
Sealed Air Corporation (US) is a key player in the packaging industry and offers protective packaging products to an array of industries such as food & beverage processing, retail, food service, commercial & consumer, and healthcare & industrial applications. The company has an extensive global reach, with operations in 48 countries to reach customers across 124 countries. Sealed Air serves a diverse global customer base, with a sales and distribution network reaching 124 countries.
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