Global Protective Packaging Market – Overview
The protective packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by the growing trend for online shopping, rapid growth in electronic sector and easy availability of biodegradable bubble wrap. However, availability of other alternative packaging hinder the growth of the market.
The continuous growth of the online shopping market is fuelling the overall growth of the bubble wrap packaging market. The benefits of online shopping such as faster delivery, easier return policies, and free shipping, have made many customers switch from the traditional methods of shopping. Amazon (U.S.) has been leading the market with a total revenue of USD 107,006 million, as compared to eBay (U.S.) with total revenue of USD 8,592 million in 2015.
Rapid growth in the electronic sector is ultimately driving the demand of the protective packaging. Today consumer electronics is the top selling category due to increase in the number of online electronics models. According to REED Electronic Research, a leading market information provider on the global electronics industry, in 2015, China has accounted for 38% of electronics equipment production in the global market.
Most of the consumers as well as manufacturers today are concerned about the impact of packaging on the environment due to the rising awareness of environment protection. Besides being an innovative and environment friendly packaging solution, biodegradable protective packaging such as bubble wrap is fully reusable and recyclable. Biodegradable bubble wrap breaks down in a landfill and is completely absorbed into the soil.
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Packaging Corporation of America, Sealed Air Corporation, Protective Packaging Solutions, Smurfit Kappa Group, Pregis Corporation, ACH Foam Technologies LLC, Automated Packaging Systems Incorporated, Bayer AG, FP International, Cascades, IVEX Protective Packaging, BASF SE, Macfarlane Group, Universal Protective Packaging, Unisource Worldwide, Cellofoam North America Incorporated, and Ecovative Design LLC are some of the prominent players at the forefront of competition in the global protective packaging market and are profiled in MRFR Analysis.
Global Protective Packaging Market – Competitive Analysis
Protective packaging industry has seen significant growth in last few years due to its application across industries, cost efficient solution and sustainable packaging solutions. Sealed Air Corporation and Veritiv Corporation has been able to spread its operations across regions of North America, Europe, APAC and others, which has enabled them to acquire such a major share in the global bubble wrap packaging market. These companies under its protective packaging solutions offer extensive product line including bubble wrap packaging and generated revenue of USD 1,523.7 million and USD 2854.2 million respectively from the segment (Protective Packaging).
Sealed Air Corporation seeks to enhance its position as a leading global provider of innovative packaging and hygiene solutions that the customers use for improving performance, cost competitiveness, sustainability and automation with the objective of enhancing productivity of operations. Sealed Air Corporation has majorly been focusing on the expansion as a strategy and is accelerating the rate of growth in the developing economies.
The major strategy of Veritiv Corporation (U.S.) is to invest in higher margin segments to achieve higher growth. For this reason, the company is majorly focusing on the packaging and services segment. The company is also focusing on expanding its existing services by focusing on logistics, Design, Fulfilment/kitting and Equipment Service.
On the other hand the major strategy of Pregis Corporation (U.S.) is to serve a large number of industries by offering a wide range of products. With the continuous research and development activities undertaken by the company, the major focus is on identifying and solving each customer’s unique protective packaging needs.
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Global Protective Packaging Market – Segments
Global Protective Packaging Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Product Type: Comprises – Rigid Protective, Flexible Protective, and Foam Protective.
Segmentation By Material: Comprises – Paper & Paperboard, Foam Plastics, Plastics and others
Segmentation By Application: Comprises – Consumer Goods, Food & Beverages, Industrial Goods, and others
Segmentation By Function: Comprises – Flexible Cushioning, Insulation, Wrapping, Void-Fill, and others
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Protective Packaging Market – Regional Analysis
Asia-Pacific is expected to show a very high rate of growth in demand for protective packaging over the coming years, owing to rising disposable incomes and the booming ecommerce industry. The protective packaging market in developing countries such as China and India are estimated to grow at a high rate in the forecast period. China is estimated to grow faster than any other country because of its strong economic growth along with increase in online shopping and rapid urbanization.
China accounts for the largest market in Asia Pacific. In China, the electronics and appliance retailers dominate the market. Domestic manufacturers are accounting for the increase in share of consumer electronics due to growing brand reputation and improved technology. Factors such as rising increase in disposable income, urbanization are some of the major factors driving the demand for bubble wrap packaging solutions.
In Japan, electronics and consumer goods is expected to dominate the market during the forecast period. E-commerce industry offers an attractive and convenient shopping option to consumers, which provides an innovative, sustainable and seamless experience over all channels. Furthermore, E-commerce in India has transformed the Style of business. The growth factors for e-commerce in Japan are mobile commerce use bubble packaging for light weight and heavy duty products.
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