Protective Packaging Market to be Worth $50.15 Billion by 2030: Grand View Research, Inc.

Jan 24, 2024

SAN FRANCISCO, June 7, 2023 /PRNewswire/ -- The global protective packaging market size is expected to reach USD 50.15 billion by 2030, expanding at 5.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This market growth is primarily due to the rising consumer spending for packaged goods and increased demand from various end-uses such as industrial goods, food & beverage, and other industries.

Key Industry Insights & Findings from the report:

The protective packaging industry is driven by the expanding e-commerce sector in regions like North America and Europe. Furthermore, the growing smartphone penetration worldwide is fueling the demand for protective packaging, ensuring the protection of these devices from physical damage.

Flexible packaging has increased demand from several end-use industries as it offers a viable solution for packaging and protection of irregular items that are of different forms and sizes. It has high shock absorption capabilities to prevent all forms of physical damage to the product which drives the market demand for this segment.

The plastic foam segment is witnessing significant growth owing to its wide application in consumer electronics products such as smartphones on account of their excellent resilience and superior cushioning abilities.

The industrial goods segment accounted for one of the largest market shares in the base year 2022. Several key players such as Deufol SE are manufacturing protective packaging solutions for industrial goods in the market, which drives the demand for this segment.

Asia Pacific recorded a higher market share in 2022 owing to increased international trade and export in the region of food & beverage and consumer products requiring protective packaging solutions for long hours of transit and warehousing.

Several key companies are collaborating to strengthen their market positions in the protective packaging industry. For instance, in November 2022, Huhtamaki OYJ announced an expansion in its production capacity for sustainable paper-based protective packaging in Spain to meet the growing consumer demand.

Read 140 page market research report, "Protective Packaging Market Size, Share & Trends Analysis Report By Type (Flexible, Foam, Rigid), By Material (Paper & Paperboard, Plastic Foams, Plastic), By Function, By End-use (Automotive, Healthcare), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Protective Packaging Market Growth & Trends

Increased disposable income and a greater inclination to purchase a wide range of packaged consumer products in regions such as North America and Asia Pacific, the need for protective packaging to safeguard these goods during transportation, storage, and handling are key factors driving growth.

In addition, the protective packaging industry is increasingly being driven by the unboxing experience of electronic products, particularly among social media influencers. Brands that embrace this trend can connect customers to their websites and products more effectively. For instance, electronic manufacturers such as Apple and Samsung are investing in protective packaging solutions that provide appealing packaging as well as physical protection for the products enhancing the overall unboxing experience. This includes incorporating logo graphics and adding personalized touches to the protective packaging.

The industry players are adopting several strategies including partnerships, expansions, mergers & acquisitions, joint ventures, new product launches, and partnership agreements to increase the customer base and individual market share. For instance, in April 2023, Huhtamaki OYJ announced an expansion in its product portfolio range of protective packaging by launching sustainable and flexible packaging in recycled paper, polyethylene, and polypropylene.

Protective Packaging Market Segmentation

Grand View Research has segmented the global protective packaging market based on type, material, function, end-use, and region:

Protective Packaging Market - Type Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)

Flexible Protective Packaging

Foam Protective Packaging

Rigid Protective Packaging

Protective Packaging Market - Material Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)

Paper & Paperboard

Plastic Foams

Plastic

Others

Protective Packaging Market - Function Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)

Void Fill

Wrapping

Insulation

Blocking & Bracing

Cushioning

Protective Packaging Market - End-use Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)

Food & Beverage

Industrial Goods

Consumer Electronics

Household Appliances

Healthcare

Automotive

Others

Protective Packaging Market - Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2018 - 2030)

North America

Europe

Asia Pacific

Central & South America

Middle East & Africa

List of Key Players in the Protective Packaging Market

Sealed Air Corporation

Sonoco Products Company

Smurfit Kappa Group Plc.

WestRock Company

Huhtamaki OYJ

DS Smith Plc

Pregis LLC

Pro-Pac Packaging Limited

Dow Chemical Company

Intertape Polymer Group (IPG)

Storopack Hans Reichenecker Gmbh

International Paper Company

EcoEnclose

Point Five Packaging

Universal Protective Packaging, Inc.

Check out more related studies published by Grand View Research:

Water Soluble Packaging Market - The global water soluble packaging market size is expected to reach USD 4.69 billion by 2030, expanding at a CAGR of 5.2% over the forecast period of 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the rising demand from various end-user industries such as household products, agriculture, medical, and others. This packaging solution is easily dissolvable and eliminates the need for disposing of the packaging materials.

Cold Form Blister Packaging Market - The global cold form blister packaging market size is expected to reach USD 6.46 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2023 to 2030. This market growth is attributed to its application in various industries such as healthcare, electronics and semiconductors, consumer products, food and confectionery, and others.

Green Packaging Market - The global green packaging market size is expected to reach USD 503.43 billion by 2030, expanding at a CAGR of 6.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. This market growth is attributed to the increasing application of sustainable packaging in various industries such as healthcare, food & beverage, personal care, and others.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.