According to a research report published by Grand View Research, Inc.; the global protective packaging market is likely to reach a valuation of around USD 44.6 billion by 2025. The protective packaging solutions protect the products during the transportation or storage from possible damages caused by moisture, fire, shock impairment, etc. Online retail channels use a wide range of flexible packaging products such as flexible foam, air pillows, paper fills, blocking and bracing, dunnage bags for filling empty spaces, and bubble wraps. Thus, high demand from e-commerce industry is expected to boost the market growth in the coming years.
On the other hand, the implementation of strict regulatory guidelines regarding the usage and disposal of packaging materials by governments in various regions may pose a challenge for the market. However, growing product demand from various end-use sectors across the globe along with the rising technological innovations are anticipated to propel the market development over the forecast period (from 2018 to 2025).
Full Research Report On Protective Packaging Market Analysis: https://www.grandviewresearch.com/industry-analysis/protective-packaging-market
The global protective packaging market is segmented into type, material, function, end-use, and region. As per type, the market can be classified into flexible, foam, and rigid. Based on material, the market can be categorized into plastic foams, paper and paperboard, plastic, and others. On the basis of function, the market is fragmented into wrapping, void fill, blocking and bracing, insulation, and cushioning. Based on end-use, the market is split into automotive, industrial goods, food and beverage, consumer electronics, healthcare, household appliances, and others.
Geographically, the market is divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America and Asia Pacific are expected to be the dominant markets over the forecast period owing to increasing product demand from the e-commerce industries in these regions. Factors like rapid urbanization and high standards of living in the region are likely to drive the market expansion.
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In 2016, Asia Pacific accounted for 38. 82 % of the overall revenue share. The region is anticipated to expand further at a CAGR of 7.0 % during the forecast years. This growth is credited to various technological developments in the manufacturing sector in the region along with growing consumer spending. High demand from several end-use industries, mainly from consumer electronics and healthcare, would contribute toward the region’s expansion. Countries such as India and China are the major contributors toward the market growth due to booming e-commerce industry.
Prominent players operating in the market include DS Smith PLC; Westrock Company; Smurfit KAPPA Group; Pregis LLC; and Huhtamaki OYJ. These companies have invested huge amounts in R&D to develop more environment-friendly and sustainable packaging materials. For instance, In January 2018, Smurfit Kappa Bag-in-Box, started a new recycling plant in Spain. It is expected to process the collected boards and papers from businesses and households. The collected material will be provided to Smurfit Kappa Mengibar Containerboard Mill to transform it into boards that can be re-used to make new packaging.
Another industry update includes, the launch of a new dispensing tap for bag-in-box for commercial edible oil called VINIflow by Dispensers. It is intended to provide a smooth pouring flow, as well as hygienic serving, through bag-in-box. The product is an extension of its VINIflow tap, developed for a variety of bag-in-box products such as juice, water, dairy, and wine.
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