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Protective Packaging Market Size

Report ID: GMI7475
Published Date: Nov 2023
Report Format: PDF

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Protective Packaging Market Size

Protective Packaging Market was valued at over USD 30 billion in 2022 and is estimated to register a CAGR of over 6% between 2023 and 2032.

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The rapid growth of e-commerce and online shopping has significantly increased the demand for protective packaging. As companies need to ensure products are delivered to customers in perfect condition, it requires the use of protective materials such as bubble wrap, foam, and corrugated boxes. The increasing awareness about environmental issues has led to a shift toward sustainable and eco-friendly packaging materials. Many consumers and businesses now prefer protective packaging solutions that are recyclable, biodegradable, or made from renewable resources. Companies are increasingly concerned about product safety and the potential for liability in case of damaged or defective products.

Protective Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2022
Protective Packaging Market Size in 2022:	USD 30 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6%
2032 Value Projection:	USD 55 Billion
Historical Data for:	2018 to 2022
No. of Pages:	230
Tables, Charts & Figures:	280
Segments covered:	Product type, function, and end use
Growth Drivers:	Rising e-commerce sales Increasing globalization of trade Growing awareness about the importance of product safety Development of new packaging materials and technologies Expanding food & beverage industry
Pitfalls & Challenges:	Rising raw material costs Environmental concerns

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For instance, in May 2023, Smurfit Kappa invested USD 40 million in the expansion of its corrugated plant in Poland, adding state-of-the-art machinery and creating more employment opportunities. With the investment, the Pruszków corrugated plant has now become one of the most high-tech packaging plants in Europe. The new technology includes a high-tech corrugator and ultra-modern converting machinery, with the plant also getting a new finished goods warehouse with the capacity for over 12,000 pallets. Effective protective packaging helps reduce the risk of damage during transportation and storage, which can protect businesses from high-cost legal issues.

In recent years, the cost of raw materials used in protective packaging, such as paper, plastic, and metal, has been rising owing to factors including supply chain disruptions, increased demand, and inflation. The rising cost of raw materials is making it more expensive for protective packaging manufacturers to produce the products. The growth of e-commerce is also putting new demands on protective packaging manufacturers. As e-commerce shipments are handled multiple times and shipped long distances, protective packaging needs to be able to withstand more rigors than traditional packaging.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for protective packaging surpassed USD 30 billion in revenue in 2022 and is projected to expand at over 6% CAGR from 2023 to 2032 owing to the rapid growth of e-commerce and online shopping worldwide.

Foam protective packaging industry accounted for over 22% revenue share in 2022 and is expected to amass more than USD 13 million by 2032 owing to surging adoption as a versatile and effective solution for safeguarding delicate and valuable items during shipping and transportation.

Asia Pacific held more than 36.5% of the protective packaging industry revenue share in 2022 and is estimated to exhibit robust growth through 2032 attributed to the rapid expansion of e-commerce, increased manufacturing activities, and the growing middle-class population.

Some of the leading protective packaging market players are Sonoco, Sealed Air Corporation, Smurfit Kappa, Dow, Huhtamaki, Ds Smith Plc, and Pro-Pac Packaging Limited.