The global protective packaging market is expected to reach USD 44.6 billion by 2025, growing at a CAGR of 5.6%
21 February 2018 - 5:00PM
PR Newswire (US)
LONDON, Feb. 21, 2018 /PRNewswire/ -- Download the full
report: https://www.reportbuyer.com/product/5291748
The global protective packaging market is expected to reach
USD 44.6 billion by 2025, growing at
a CAGR of 5.6%
Increasing demand from various end-use industries has been a key
factor driving market growth globally. In addition, continuous
technological innovations and increasing consumer spending across
the world are also fueling packaging demand.
Flexible packaging segment held the largest market share in 2016
owing to increasing preference for online shopping among consumers.
Online retail channels widely use a wide range of flexible
packaging products such as flexible foam, paper fills, air pillows,
bubble wraps, and dunnage bags for filling empty spaces, wrapping,
and blocking & bracing. Stringent regulations pertaining to the
degradability of packaging materials are anticipated to restrain
market growth over the forecast period.
Factors such as ensuring positive customer experience and meeting
their requirements are extremely important for companies. The
packaging of a product is likely to be the first tangible
interaction with a customer.
E-commerce companies are required to meet numerous packaging
standards such as protective packaging design, sustainability,
operational throughput, material cost reduction, and supply chain
cost reduction. This, in turn, is anticipated to help companies in
improving their bottom line and retain long-term customers.
Key market players are investing heavily in R&D activities to
develop sustainable and environment-friendly packaging materials
that can be reused and recycled. Growing popularity of online
shopping and increasing adoption of protective materials for
packaging are anticipated to have a positive impact on protective
packaging market over the forecast period.
Increased demand spurs investment for protective packaging,
especially in e-commerce applications. Numerous packaging companies
are striving to achieve the preferred vendor status among
customers.
Further key findings from the report suggest:
• The global protective packaging demand was valued at USD 27.42 billion in 2016 and is expected denote
a CAGR of 5.6% from 2017 to 2025. Food & beverage emerged as
the largest end-use segment in 2016 and is expected to register a
predicted CAGR of 6.0% between 2017 and 2025.
• The global rigid protective packaging segment was valued at
USD 3.92 billion in 2016 and is
anticipated to witness significant growth over the next eight
years. Healthcare segment in Mexico market was USD
59.0 million in 2016 and is projected to grow at a rate of
4.4% from 2017 to 2025.
• Asia Pacific market is projected
to experience substantial growth over the next eight years owing to
rising demand from various end-use industries, especially from
consumer electronics and healthcare markets. In terms of revenue,
APAC is expected to register a CAGR of 7.0% between 2017 and
2025.
• Key players including Smurfit KAPPA Group; Westrock Company;
Sealed Air Corporation; Sonoco Products Company; Huhtamaki OYJ; DS
Smith PLC; and Pregis LLC dominated the global market
Download the full report:
https://www.reportbuyer.com/product/5291748
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that
provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: sarah@reportbuyer.com
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
View original
content:http://www.prnewswire.com/news-releases/the-global-protective-packaging-market-is-expected-to-reach-usd-446-billion-by-2025-growing-at-a-cagr-of-56-300602086.html
SOURCE ReportBuyer
Copyright 2018 PR Newswire