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Redding, California - June 3, 2024

Protective Packaging Market to be Worth $54.7 Billion by 2031

Protective Packaging Market Size, Share, Forecast, & Trends Analysis by Product (Flexible Protective Packaging, Protective Foam Packaging), Material (Foam Plastic, Paper & Paperboard), Sector (Food & Beverage, Retail & E-commerce), and Geography - Global Forecast to 2031

Meticulous Research^®—leading global market research company, published a research report titled, ‘Protective Packaging Market Size, Share, Forecast, & Trends Analysis by Product (Flexible Protective Packaging, Protective Foam Packaging), Material (Foam Plastic, Paper & Paperboard), Sector (Food & Beverage, Retail & E-commerce), and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the protective packaging market is projected to reach $54.7 billion by 2031, at a CAGR of 5.9% during the forecast period 2024–2031. The growth of the protective packaging market is primarily driven by the rapid growth of the e-commerce sector and the surging use of protective packaging in the food & beverage sector. However, dynamic regulatory policies restrain the growth of this market.

Moreover, the growing demand for eco-friendly & customized packaging solutions and the rising adoption of protective packaging in the pharmaceutical sector are expected to generate growth opportunities for the players operating in this market. However, additional distribution channel costs and volatile raw material prices are major challenges impacting the growth of the protective packaging market.

Furthermore, the adoption of sustainable packaging materials and designs is a prominent trend in the protective packaging market.

The protective packaging market is segmented by product (flexible protective packaging {pouches, air pillows/air bags, films & bubble wrap, other flexible protective packaging products}, protective foam packaging {foam wrap rolls, foam pouches, foam tubes, and other protective foam packaging products}, and rigid protective packaging {corrugated boxes, bottles & jars, caps & closures, trays & containers, other rigid protective packaging products}), material (plastic, foam plastic, paper & paperboard, and other materials), sector (food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electronics & semiconductors, automotive, industrial machinery & equipment, and other sectors), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on product, the protective packaging market is segmented into flexible protective packaging, rigid protective packaging, and protective foam packaging. In 2024, the flexible protective packaging segment is expected to account for the largest share of 40.0% of the protective packaging market. The segment’s large share is attributed to the rising need to extend the shelf life of products and ensure product protection, the increasing demand for convenient packaging, and the rapid growth in e-commerce. Furthermore, market players are collaborating to develop advanced offerings, supporting the growth of this segment. For instance, in March 2024, Aptar CSP Technologies, a part of AptarGroup, Inc. (U.S.), collaborated with ProAmpac (U.S.) to launch a new active material science packaging solution. This next-generation platform technology combines Aptar CSP’s proprietary 3‐Phase Activ‐Polymer technology with ProAmpac’s flexible blown film technology to deliver a patent pending moisture adsorbing flexible packaging solution. Also, this segment is projected to register the highest CAGR during the forecast period 2024–2031.

Based on material, the protective packaging market is segmented into plastic, foam plastic, paper & paperboard, and other materials (wood and metal). In 2024, the paper & paperboard segment is expected to account for the largest share of 37.0% of the protective packaging market. The segment’s large share is attributed to the rapidly growing e-commerce sector, the rising adoption of paperboard packaging in the personal care & cosmetics sector, growing consumer awareness regarding sustainable packaging materials, and the rising consumption of packaged foods. E-commerce platforms are increasingly encouraging manufacturers to opt for paper-based protective packaging to support environmental sustainability. Furthermore, key market players are focused on introducing new packaging solutions into the market to help customers improve business performance. For instance, in January 2022, Amcor plc (Australia) launched AmFiber, a new range of paper-based packaging products. AmFiber products offer customers high performance and differentiation across multiple packaging applications.

However, the foam plastic segment is expected to record the highest CAGR during the forecast period 2024–2031. The rising adoption of foam plastic packaging in the electronics & semiconductors sector and the increasing use of foam plastic in the manufacture of packaging rolls, sheets, and bags are supporting the growth of this segment. In addition, the benefits of foam plastic, such as superior protection, versatility, light weight, moisture resistance, and easy customization, contribute to the growth of this segment.

Based on sector, the protective packaging market is segmented into food & beverage, retail & e-commerce, paints & chemicals, building & construction, pharmaceuticals, electronics & semiconductors, automotive, industrial machinery & equipment, and other sectors. In 2024, the food & beverage segment is expected to account for the largest share of 30.0% of the protective packaging market. The segment’s large share is attributed to the increasing consumer awareness regarding food safety, the rising demand for convenient and sustainable packaging solutions, the increasing need to extend the shelf life of F&B products, and the growing demand for hygienic food packaging. Furthermore, market players are focusing on expanding their offerings, supporting the growth of this segment. For instance, in April 2021, ProAmpac (U.S.) launched its unique ProActive PCR Retort pouches designed for pet and human food packaging.

However, the pharmaceuticals segment is expected to register the highest CAGR during the forecast period 2024–2031. Growing consumer awareness regarding healthier lifestyles, the rising need to maintain the quality, safety, and efficacy of pharmaceutical products, growing healthcare expenditures in emerging economies, and the rising demand for protective packaging to extend the shelf life of pharmaceutical products, such as vitamins and lipid-based formulations are expected to support the growth of this segment.

Based on geography, the protective packaging market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 35.0% of the protective packaging market. Asia-Pacific’s large market share is attributed to the surging use of protective packaging in the region’s food & beverage sector, the growing need for eco-friendly packaging solutions, and rising consumer awareness regarding product safety.

In addition, market players are investing in expanding their operations in the region. For instance, in December 2022, Amcor plc (Australia), a global leader in packaging solutions, opened its new state-of-the-art manufacturing plant in Huizhou, China, with an investment of almost $100 million. The 590,000-square-foot plant is the largest flexible packaging plant by production capacity in China. It has strengthened Amcor’s ability to meet the growing demand for packaging solutions in the Asia-Pacific region.

Moreover, the Asia-Pacific region is projected to register the highest CAGR of 7.0% during the forecast period. The rapid growth of this regional market is attributed to the growth in regional economies and the expanding e-commerce sector, especially in China, Japan, South Korea, and India.

Key Players

The key players operating in the protective packaging market are Smurfit Kappa Group plc (Ireland), Sonoco Products Company (U.S.), Crown Holdings, Inc. (U.S.), Sealed Air Corporation (U.S.), Pregis LLC. (U.S.), Intertape Polymer Group Inc. (U.S.)—a part of Clearlake Capital Group, L.P. (U.S.), DS Smith plc (U.K.), International Paper Company (U.S.), Signode Industrial Group LLC. (U.S.), Ranpak Holdings Corp. (U.S.), Universal Protective Packaging, Inc. (U.S.), Storopack Hans Reichenecker Gmbh (Germany), Riverside Paper Co. Inc. (U.S.), Pro-Pac Packaging Limited. (Australia), and APEX Packaging Corporation (U.S.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5904

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of product, material, and sector?
What was the historical market size for protective packaging products globally?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the protective packaging market?
Who are the major players in the protective packaging market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the protective packaging market?
What are the various growth strategies adopted by major market players?
What are the major market trends, and which are the high-growth countries?
Who are the local emerging players in the protective packaging market, and how do they compete with other players?

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Redding, California - June 3, 2024

Protective Packaging Market to be Worth $54.7 Billion by 2031

Protective Packaging Market Size, Share, Forecast, & Trends Analysis by Product (Flexible Protective Packaging, Protective Foam Packaging), Material (Foam Plastic, Paper & Paperboard), Sector (Food & Beverage, Retail & E-commerce), and Geography - Global Forecast to 2031

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