Wednesday, July 31, 2019

Protective Packaging Market Is Estimated to Reach US$37.5 Bn by 2026

Packaging and protective packaging is intended to protect goods from loss, damage, and theft during transport, distribution, and storage. Process includes containers or wrapping that hold several items together, which provide a stable platform for transport. Used in across various areas of the supply chain, such as at the assembly line, transportation, warehouses, and order picking to withstand different static and dynamic forces. It also gives protection from climatic conditions, such as solar radiation, temperature, humidity, and precipitation.

The global packaging and protective packaging market is segmented based on by material, by type, by application, and by region. By material segment is classified as Foam plastic, Paper, Paperboard. Types of protective packaging are Flexible, Rigid, and foam. Application is divided into food & Beverage, consumers, electronics. Region wise the market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Based on material, foam plastic segment accounted for the largest market share in terms of value, in the protective packaging market. Foam plastics are lightweight and provide thermal insulation and offer shock-dampening properties. On based on type 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 damage bags for filling empty spaces, wrapping, and blocking & bracing.

On the basis of regions, the protective packaging market is segmented into North America, Western Europe, Eastern Europe, Nordics, Asia Pacific, South America, Middle East, and Africa. The Asia Pacific region is estimated to account for the largest share among all the regions in 2017. This can be mainly attributed to the increase in demand for protective packaging in China and India coupled with the growth in the food & beverage industry in these countries. The urbanized population is shifting its preference to healthy and safe packaged foods owing to the rise in disposable incomes.

Key players in the global protective packaging market are Packaging Corporation of America, Max Packaging , Springpack , Sealed Air Corporation , Protective Packaging Solutions , Smurfit Kappa Group , Pregis Corporation , ACH Foam Technologies LLC , Bayer AG Germany, FP International , BASF SE Germany, Macfarlane Group , Universal Protective Packaging, Unisource Worldwide , Cellofoam North America Incorporated , and Ecovative Design LLC.

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