Protective Packaging Market worth $44.5 billion by 2028 – At a CAGR of 5.9%

As per the recently published report by MarketsandMarkets™, The Protective Packaging Market by Material (Foam Plastics, Paper & Paperboard, Plastics), Type (Flexible Protective Packaging, Rigid Protective Packaging, Foam Protective Packaging), Function, Application, and Region – Global Forecast to 2028″, is projected to grow from USD  33.3 billion in 2023 to USD  44.5 billion by 2028 at a CAGR of 5.9%.

The protective packaging market is driven by a multitude of factors, including the rising demand for safe and secure transportation of goods in various industries such as e-commerce, pharmaceuticals, electronics, and food and beverage. Additionally, increasing awareness regarding sustainability and environmental concerns has led to the adoption of eco-friendly packaging materials, driving innovation in the protective packaging sector. However, the market also faces challenges such as fluctuating raw material prices, stringent regulations regarding packaging waste and recycling, and the need for continuous innovation to keep pace with evolving consumer preferences and industry requirements.

Download PDF Brochure:
  • 675 Market data Tables
  • 63 Figures
  • 385 Pages and in-depth TOC on “Protective Packaging Market – Global Forecast to 2028”

This report also provides a comprehensive analysis of the companies listed below:

Most manufacturers in this market are based in Europe and North America.  Smurfit Kappa Group (Ireland), Sealed Air (US), Sonoco Products Company (US), Crown Holdings Inc. (US), and DS Smith plc (UK) are among the leading players operating in the protective packaging market. These players have adopted various growth strategies to strengthen their position in the market. This includes expansions and acquisition activities further to expand their presence in the protective packaging market.

Recent Developments in Protective Packaging Market Industry
  1. In October 2023, DS Smith plc has launched ‘R8’, a groundbreaking global Research & Development (R&D) and Innovation Centre in UK. This industry-first facility aims to accelerate the development of revolutionary packaging fulfillment solutions through collaboration with customers and partners.
  2. In August 2023, DS Smith plc acquired Bosis d.o.o., a high-quality packaging company in Serbia. The acquisition is complementary to the business’ existing regional packaging activity in Eastern Europe and will support its growth drive in the region.
  3. In July 2023, Smurfit Kappa Group plc had invested over USD 35 million in the 25,000 m2 facility in Rabat, Morocco. It serves domestic Moroccan businesses and global companies across various sectors, including industrial, agricultural, FMCG, automotive, pharma, and ceramics.
  4. In September 2022, Smurfit Kappa Group plc acquired a packaging plant in Rio de Janeiro. The purchase of PaperBox expands both, the company’s presence in Brazil and its product portfolio.
  5. In October 2022, Sealed Air Corporation announced the opening of SEE Packforum South America. Designed to create a technology-driven experience, the center provides customers instant access to new packaging solutions, designs, and applications.
  6. In November 2022, Sonoco Products Company announced entering into a definitive agreement to purchase the remaining equity interest in RTS Packaging, LLC (RTS) from joint venture partner WestRock Company (WestRock) and one WestRock paper mill in Chattanooga, Tennessee.
  7. In November 2022, Company’s Automation and Packaging Technologies division celebrated the opening of their new global flagship facility at Roselle, US. The 360,000 square foot structure is the new location for its Automation and Packaging Technologies (APT) division and will feature a customer experience center, training facility and expanded equipment manufacturing capabilities.

Leave a Comment

Your email address will not be published. Required fields are marked *