Global Plastic Protective Packaging Market Anticipated to Accelerate At 6.7% CAGR during the Study Period, 2018-2028

Posted on 2019-09-27 by Mark Hub in Chemicals // 0 Comments

The report studies the plastic protective packaging market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on plastic protective packaging market to its wide online database including upcoming trends and market growth factors through 2028. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.

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Plastic Protective Packaging Market – Key Insights

Plastic protective packaging registered a steady growth at 5.4% CAGR between 2013 and 2017. The plastic protective packaging market will continue to witness robust growth in the future owing to various factors ranging from growing demand for inflatable packaging to increasing adoption of plastic packaging in the ecommerce sector.
The plastic protective packaging market is expected to surpass revenues worth US$ 14 billion in 2019.
Europe is likely to remain the largest market for plastic protective packaging with revenues estimated to exceed US$ 4 billion in 2019.
Plastic protective packaging market is expected to witness a relatively faster growth in East Asia, as China continues to gain significance as attractive hub for packaging manufacturers, upheld by growing demand from the electronics industry.

What are the Key Growth Drivers of Plastic Protective Packaging Market?

Plastic continues to be the widely used material in protective packaging across various industries, with introduction of advanced materials such as polypropylene that provide high barrier and temperature resistance, thereby, protecting packaged products from harsh environments.
Adoption of flexible packaging in the food and beverage, including pouches, bags, sleeves, shrink films, and tubes, owing to their low weight, flexibility, and durability properties, will continue to create growth opportunities for the plastic protective packaging market.
With significant growth in the construction and electronics sector, air cushion and bubble packaging have emerged as the viable protective packaging solution for the products ranging from lightweight, delicate objects such as ceramics and housewares, to heavier electronic components and glassware.
Bubble products being the most versatile protective packaging, manufacturers are offering multiple configuration, inflated bubble packaging with various grades that adjust the size of bubble as per the product. Moreover, recycled materials are also being used to produce modern inflated bubble products.
With an increasing number of consumers opting for online shopping, companies have started focusing on offering protective packaging solutions such as bubble packaging, plastic stretch, and air cushions to ensure the protection of goods during shipping and transportation. According to the US Department of Commerce estimate in 2018, consumers spent $513.6 billion on online shopping, up 14.2% from 2017.

Plastic Protective Packaging Market – Competitive Landscape

Berry Global Group plans to acquire RPC Group for approximately US$ 6.5 billion, including refinancing RPC’s net debt. It plans to create a global plastic and recycled packaging product franchise through this acquisition.
Smurfit Kappa Group has acquired Balkanpack with an aim to expand its business in Bulgaria. Smurfit Kappa also plans to take over Vitavel, also a Bulgarian manufacturer.
Sealed Air Corporation has entered into an agreement with Kuraray America, Inc. to offer Plantic, a plant-based food packaging in the US, Mexico, and Sealed Air Corporation’s planned investment of US$24 million is underway and the production is likely to start by Q2/2020.

Key players operating in the plastic protective packaging market include Berry Global Group, Inc., AEP Industries Inc., Intertape Polymer Group Inc., Smurfit Kappa Group, Sealed Air Corporation, Signode Packaging Systems Corporation, Winpak Ltd., Kureha Corporation, PREMIUMPACK GmbH, Flexopack S.A., Schur Flexibles Group, Coveris Holdings S.A., Allfo Vakuumverpackungen Hans Bresele Kg, Kuplast Matejka Kumar S.P., and Buergofol GmbH.

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The report on the plastic protective packaging market offers actionable and valuable insights along with in-depth analysis backed by the extensive research methodology. The key insights on the plastic protective packaging market are offered with the help of extensive primary and secondary research. Interviews and discussions with industry and market experts formed as the part of primary research methodology. While journals, press releases, company annual reports, and other valid data sources in the plastic protective packaging market were used to gain information and data on the plastic protective packaging market. Information obtained through both primary and secondary research was used to draw conclusions in the plastic protective packaging market. The research methodology also helped in eliminating misleading information and offering correct and accurate information on the plastic protective packaging market. 2017 has been taken as the base year to offer a forecast on the plastic protective packaging market for the period from 2018 to 2028. The market report on the plastic protective packaging market is an authentic dataset for market players and readers to plan business strategies to gain a competitive advantage in the plastic protective packaging market.

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