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.
Micro and macro-economic factors impacting the plastic protective packaging market growth are also included in the report. The study also focuses on the quantitative data and qualitative data. The study includes market dynamics such as key trends, growth opportunities, driving factors, and challenges in the plastic protective packaging market. The report also offers segment-wise and region-wise analysis in the plastic protective packaging market along with the focus on key countries. The plastic protective packaging market report also offers data in terms of value, volume, year-on-year growth, and CAGR in the plastic protective packaging market. Competitive landscape in the plastic protective packaging market is also included in the report.
Consumer inclination toward online shopping has witnessed a dramatic rise in recent years, which in turn has boosted growth of the ecommerce sector significantly. Sensing the role of protective packaging the overall end-user experience, leading players in the plastic protective packaging market are focusing on easy-to-use designs, along with consistent branding activities. The study finds that plastic protective packaging market players are moving ahead of the one-size-fits-all approach, directing their focus toward offerings solutions that suit well with unique physical properties of goods, along with developments in characteristics.
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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.
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.
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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