Protective Packaging Market Outlook, Strategies, Analysis, Future Scope, Key Drivers Forecast To 2023

Protective Packaging Market Overview

Protective packaging refers to the use of protective materials in the packaging of various good to minimize the risk of damage before it reaches the consumer. Bubblewrap, boxes, packing peanuts, and packaging foam are some forms of protective packaging. Market Research Future has found that the market valued USD 20.47 Bn in 2017 and is expected to grow at a CAGR of 4.07% over the assessment period from 2017 to 2023. This steady rate of growth is expected to yeild a market value of USD 35.91 Bn by the end of the forecast period.

Competitive Analysis 

Protective Packaging Market has seen significant growth in last few years due to its application across industries, cost efficient solution and sustainable packaging solutions. Sealed Air Corporation and Veritiv Corporation has been able to spread its operations across regions of North America, Europe, APAC and others, which has enabled them to acquire such a major share in the global bubble wrap packaging market. These companies under its protective packaging solutions offer extensive product line including bubble wrap packaging and generated revenue of USD 1,523.7 million and USD 2854.2 million respectively from the segment (Protective Packaging).

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, and Ecovative Design LLC

Segmentation

Segmentation of the global protective packaging market has been determined on the basis of material, application, product type, function, and region. Materials used in protective packaging have been segmented into paper & paperboard, plastic, and others. Plastic is the most widely used protective packaging material and is used across a number of end-use industries. Plastic offers an efficient barrier which is cost efficient, temperature resistant, and durable.

Product type has been segmented into rigid protective, flexible protective, and foam protective.

Function of protective packaging has segmented the market into insulation, wrapping, flexible cushioning, void-fill, and others.

Applications of protective packaging can be found in industrial goods, consumer goods, food & beverages, and others.

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