The market report “Protective Packaging Market by Materials (Plastic, Foam Plastics, Paper & Paperboard, Metal, and Other Materials), Types (Rigid Protective Packaging, Flexible Protective Packaging, Foam Protective Packaging, and Other Types), Functions (Insulation, Wrapping, Blocking & Bracing, Cushioning, Void-Fill, Cold Chain Solutions, Containment, Surface Protection, and Other Functions), Applications (Household Appliances, Industrial Goods, Consumer Usable, Food & Beverage, Automotive, Healthcare, Pharmaceuticals, Cosmetics, Agriculture, Durable Goods, Nondurable Goods, E-Commerce, Retail, Personal Care, Electronics, Medicines, and Other Applications), Sales Channels (Distributor and Direct Sales), and Region – Forecast to 2028”. The Protective Packaging market is growing at a CAGR of 7.8% by 2028, owing to rising manufacturing activities.
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Based on application, the food & beverage segment is estimated to grow at highest CAGR segment during the study period.On the basis of application, the market is categorised into household appliances, industrial goods, consumer usable, food & beverage, automotive, healthcare, pharmaceuticals, cosmetics, agriculture, durable goods, nondurable goods, e-commerce, retail, personal care, electronics, medicines, and other applications. Food & beverage segment is anticipated to be the fastest growing market segment strongly driven by the increase in the standard of living, high demand for food & beverage packaging as it offers product protection, durability, and extends the shelf life of the product, rising not reusable income, and increase in packed ready to eat food, and others.
Based on function, the cushioning segment is anticipated to grow faster during the forecast period.On the basis of function, the market is divided into insulation, wrapping, blocking & bracing, cushioning, void-fill, cold chain solutions, containment, surface protection, and other functions. Cushioning segment is projected to grow faster during the forecast period, as it protects fragile and lightweight items from damage during transportation and warehousing and its soft or resilient material used to render shape, fill gaps, and provide protection to the product.
By geography, Europe is expected to dominate the marketOn the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is experiencing a dominant position in the market, owing to increased emphasis on product quality, high technological connectivity environment, steady rise in manufacturing output across Europe, and growth in end-user verticals, such as food and beverage, healthcare, and beauty and personal care, and rising trend of smart homes and offices.
The key players in this market are Smurfit Kappa Group, Winpak Ltd., DS Smith Plc, Sealed Air Corporation, Crown Holdings Inc., Cascades Inc., Sonoco Products Company, Kureha Corporation, Coveris Holdings S.A., The DOW Chemical Company, Pregis Corporation, Westrock, Intertape Polymer Group Inc., Huhtamaki Group, International Paper Company, Litco International, Inc., and Bayer AG.
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The Global Protective Packaging Market is majorly driven by increasing trend of e-commerce, increasing global manufacturing output, continuous technological advancements, and consumer spending on packaged goods. The food & beverages segment is growing at a highest CAGR owing to the high demand for food & beverage packaging as it offers durability, product protection, and extends the shelf life of the product. Asia Pacific dominated with a significant market share due to the increase in demand for protective packaging in China and India coupled with the growth in the food & beverage industry in these countries, rising demand from e-commerce industry for the protection of shipped products, and improvements in manufacturing activities in Asia Pacific. Europe market is growing at a highest CAGR owing to increased emphasis on product quality, steady rise in manufacturing output across Europe, and growth in end-user verticals, such as food and beverage, healthcare, and beauty and personal care.
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