From GlobeNewswire: 2024-05-23 09:00:00

The global protective packaging market is projected to grow from USD 33.3 billion in 2023 to USD 44.5 billion by 2028 at a CAGR of 5.9%. Factors driving this growth include the demand for safe transportation of goods, increased awareness of sustainability, and the need for innovation to meet industry requirements. Challenges include fluctuating raw material prices and regulations on packaging waste and recycling. Key players in the market include Smurfit Kappa Group, Sealed Air, Sonoco Products Company, Crown Holdings Inc., and DS Smith plc. By material, foam plastics hold the largest share, with Asia Pacific expected to have the highest CAGR.

The protective packaging market offers drivers such as increasing international trade, opportunities in developing sustainable packaging, and challenges in maintaining product quality. Key findings reveal that foam plastics, rigid protective packaging, wrapping, and industrial goods are top priorities during the forecast period. Paper & paperboard material, flexible packaging type, cushioning function, and food and beverage application segments are projected to have the highest CAGR. The Asia Pacific region is expected to lead in growth due to the rise in e-commerce.

In terms of material, the Paper & Paperboard segment is projected to register the highest CAGR due to the growing emphasis on sustainability. Flexible protective packaging is expected to see the highest growth, providing versatility for various industries. The cushioning function segment is crucial for protecting goods during transit, while the food and beverage industry is driving growth in the protective packaging market. The Asia Pacific region is expected to lead in growth due to the demand for secure transportation in the growing e-commerce sector.



Read more at GlobeNewswire: Protective Packaging Market worth $44.5 Billion by 2028