In this report, Future Market Insights (FMI) conveys the key insights on the global protective packaging market in its published report titled “Global Protective Packaging Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. The global protective packaging market is estimated to expand at a CAGR of 5.3% in terms of value over the forecast period, due to numerous factors, about which FMI offers thorough insights and forecasts in this report.
The global protective packaging market is segmented based on material type, product type, function type and region. Plastic is the most preferred material for protective packaging market. This is mainly owing to its wide availability and usage through different form of packaging. The plastic segment in protective packaging is gaining high traction due to its usage in almost every vertical of the protective packaging market. Furthermore, rise in the demand for inflatable packaging is driving the demand for plastic. Moreover, the plastic segment is gaining traction due to its transformation by the introduction of “bio-plastic” material, which is bio-degradable in nature. However, the environment friendly aspect of paper segment has resulted in a huge traction among manufacturers along with the growth of moulded pulp, which is light in weight and low in cost
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Manufacturers, retailers, and logistics service providers are mostly inclined towards a flexible form of protective packaging solution; hence, plastic is mostly preferred raw material to make protective packaging solution. Stringent government regulations on plastic usage and increase in awareness about environmental sustainability are expected to inhibit the adoption of plastic packaging in the near future. This is anticipated to negatively impact the growth of protective packaging market. Therefore, to solve the issues related to plastic, bioplastic is considered as a superior alternative. It aims to replace petroleum-based plastic with natural byproduct that meets performance expectations while improving recyclability and sustainability. The raw material used for the production of bioplastic is renewable in origin. Moreover, the raw material is widely available in ample amount as compared to petroleum and fossil fuel. Therefore, making use of bioplastic for protective packaging of products will not only deliver a similar experience of plastic usage, but also provide a sustainable environment in terms of low usage of fossil fuel.
According to European Bioplastics e.V., the global bioplastic production capacities continue to grow despite low oil prices.
Collectively, Western Europe and APEJ markets are expected to account almost 50% revenue share of the global protective packaging market by 2016 end. Among the emerging markets, Asia Pacific is expected to register above 5% growth rate over the forecast period, thus becoming the growth leader in the global protective packaging market. Increasing organized retail sector growth rate, coupled with substantial rise in industrial production, is expected to create favourable growth opportunities for the protective packaging market in the region.
Though the Asia Pacific market is expected to register a fast growth, presence of many small-scale companies with no proper guidelines has led to the advent of various cheap and low-grade protective packaging products in the region.
North America and Asia-Pacific are the top two regions to focus for the growth of protective packaging market, wherein, North America is expected to grow due to its rising logistics services and increasing manufacturing activity. However, the growing retail sector moving in sway with online shopping and middle-income group transformation in terms of spending is expected to drive the growth of the market for protective packaging.
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Examples of some of the key players profiled in the global protective packaging report include Sealed Air Corporation, ACH Foam Technologies Inc, Cascades Inc, Pregis Corporation, Sonoco Products Company, Packaging Corporation of America, Ranpack Corp and Storopack Hans Reichenecker GmbH
The companies involved in protective packaging manufacturing are focusing on enhancing their production, both by commencing operations in new production facilities and by adding new lines in existing sites and through acquisitions. The manufacturers are likely to eye the lucrative regions such as Africa and Asia Pacific in the coming years