A significant element driving the growth of the protective packaging market is the robust rise in several manufacturing industries around the globe. The expansion of the protective packaging market is anticipated to be aided by an increase in end-use industries throughout emerging regions, including those in the automotive, pharmaceutical, automobile, electronic, etc. Global urbanisation is predicted to increase, which will fuel the market for protective packaging to expand. Certain package styles used in the healthcare and pharmaceutical industries have seen a marked increase in sales, according to the global packaging industry. The demand for protective packaging has decreased as a result of imposed lockdowns and decreased demand from different end-use industries. Furthermore, the sales of protective packaging solutions are being impacted by constrained and restricted international commerce operations. Due to their low price and excellent level of protection, inflatable packaging is becoming more popular on the market. Also, features like being more environmentally friendly than other bulkier alternatives are boosting the market for protective packaging.
According to Coherent Market Insights, In terms of revenue, the global Protective Packaging Market was estimated at US$ 31788.0 Million in 2021, growing at a CAGR of 5.92% over the forecast period (2022 to 2030).
Major Players in the Protective Packaging Industry:
1. Sonoco Products Company
The firm was established in 1899 and is located in South Carolina, United States. The business creates consumer and industrial packaging products for clients all around the world. Flexible packaging, high density film goods, and folding cartons are all products of the company. The company stated in November 2022 that it has struck a binding deal to buy the remaining ownership stake in RTS Packaging.
2. Sealed Air Corporation,
The firm was established in 1960 and has its headquarters in North Carolina, United States. The company Sealed Air Corporation produces packaging, performance-based materials, and machinery for the food, industrial, medical, and consumer markets. The launch of prismiqTM, a digital packaging brand with a range of solutions for design services, digital printing, and smart packaging, was announced by Sealed Air in April 2022.
3. ACH Foam Technologies, Inc.
The business was established in 2005 and is based in Colorado, United States. A plastics business called ACH Foam Technologies sells items made of expanded polystyrene. The business produces expanded polystyrene and provides insulation, packaging, geofoam, and foam products for industrial, technical, and construction uses.
4. BASF SE
BASF was established in 1865. The company's corporate headquarters are located in Ludwigshafen, Germany. The company's operations are divided into the following categories: Petroleum and allied products, chemicals, plastics, speciality items, utilitarian items, and agricultural replacements. On February 6, 2022, BASF accelerates the plastics industry's transition to a more sustainable future. As of December 19, 2022, BASF has been selected by battery manufacturer PPES as a strategic supplier of high-performance cathode active materials.
5. Cascades Inc.
The business was founded in 1957 and is headquartered in Canada. The company produces packaging and paper items mostly made of recycled fibres and then changes and sells them. Cascades introduced new environmentally friendly produce packaging for fresh produce in January 2023. As of November 2022, all of Cascades' packaging for consumer products has been pre-qualified by How2Recycle®, the company is thrilled to announce.
6. Pregis Corporation
The company was founded in 2005 and is located in Chicago, Illinois. Packaging materials for protection are offered by Pregis LLC. The company sells foam sheets, air cushioning, mailers, pouches, and inflatable and paper packaging systems. The business is a major provider of protective packaging and flexible packaging solutions globally.
7. Ranpak Corp.
The business was founded in 1972 and has its corporate headquarters in Ohio, United States. The company produces machinery, paper products, automation solutions, and protective paper-based packaging for delivering goods and items for e-commerce and industrial. The launch of AccuFill® Next Generation Void Fill Solution in North America was announced by Ranpak in 2020.
*Definition: Protective packaging is created to offer protection and stop product damage during storage and transportation. A product's integrity is maintained via protective packaging, which aids in product protection.
