Protective Packaging Materials Market 2020
Protective Packaging Materials Market Challenges, Size, Share, Trends, Growth: By Product Type (Rigid Protective, Flexible Protective, And Foam Protective), Material (Paper & Paperboard, Plastics, And Others), Application (Consumer Goods, Food & Beverages, Industrial Goods, And Others), Function, And Region – Forecast To 2023
(firmenpresse) - Summary
Protective Packaging Materials Market Challenges, Size, Share, Trends, Growth: By Product Type (Rigid Protective, Flexible Protective, And Foam Protective), Material (Paper & Paperboard, Plastics, And Others), Application (Consumer Goods, Food & Beverages, Industrial Goods, And Others), Function, And Region – Forecast To 2023
Protective Packaging Materials Market Scope
The Protective Packaging Materials 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.
Market Research Future (MRFR) reveals that the global Protective Packaging Materials Market is expected to exhibit a CAGR of 4.07% over the evaluation period (2017-2023). In 2017, the global market was valued at USD 20.47 billion. MRFR states that the global Protective Packaging Materials Market is poised to scale up to valuation of USD 35.91 billion by 2023.
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Key Players
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
Ecovative Design LLC
Industry News
August 2019
Pregis LLC, one of the prime manufacturers of protective packaging materials coupled with APASS (Amazon Packaging Support and Supplier). The collaboration is to result in engineering performance-oriented and economical protective packaging solutions.
Protective Packaging Market Insights
The need to score customer satisfaction is expected to gain traction for the global Protective Packaging Materials Market. At-door delivery services are gaining traction due to the growing number of working professionals. Hence, effective delivery of products with no abrasion, holds great significance in the expansion of customer base. This is where protective packaging has a major role to play. The increase in the adoption of protective packaging is likely to propel its global market. Over the assessment period, the market is also expected to gain momentum due to the fast-paced industrialization and expanding online services. The rise of e-commerce sector is observed to strongly promote the growth of the market, as items such as clothes, home décor, shoes, and others are noted to be sold online, across different countries. However, the market can exhibit a sluggish growth due to fluctuation in the raw materials prices.
Segmental Overview
The global Protective Packaging Materials Market has been segmented on the basis of product type, application, material, and function. On the basis of product type, the global market has been segmented into rigid protective, flexible protective, and foam protective. On the basis of material, the global market has been segmented into paper and paperboard, foam plastics, plastics, and others. Based on the application, the global protective packaging has been segmented into consumer goods, food and beverage, industrial goods, and others. By function, the global market has been segmented into flexible cushioning, wrapping, insulation, and void-filling.
Regional Outlook
By region, the progress of the global Protective Packaging Materials Market has been reported across Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The increase in online commodity sales is likely to contribute significantly to the expansion of the Asia-Pacific Protective Packaging Materials Market. In the coming years, the regional market is expected to surge owing to other factors such as increase in urban migration, hike in per capita income, and presence of strong economies such as China, India, and Japan. Deep penetration of digitalization and high e-commerce trading activities recorded in China, are causes that the market is expected to exhibit the highest growth rate in the APAC region. The countries in the Asia Pacific region is experiencing high import-export activities, and the significance of protective packaging lies therein This, is another factor that is observed to contribute significantly to the regional market growth. North America due to its firm commodity business infrastructure and availability of better supply chain logistics is expected to bolster the regional Protective Packaging Materials Market growth. In Europe, the high sales of online goods can surge the market.
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Datum: 15.01.2020 - 08:37 Uhr
Sprache: Deutsch
News-ID 605376
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Contact person: sagar
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Kategorie:
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Typ of Press Release: Product
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Date of sending: 15/01/2020
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