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.
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- 675 Market data Tables
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- 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.
Recent Developments in Protective Packaging Market Industry
- 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. - 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.
- 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.
- In September 2022, Smurfit Kappa Group plc acquired a packaging plant in Rio de Janeiro.
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Smurfit Kappa Group (Ireland) – Smurfit Kappa Group is a leading provider of paper-based packaging solutions, with a global presence spanning over 35 countries. The company manufactures, distributes, and sells containerboards, corrugated containers, and other paper-based packaging products, such as solid boards, graphic boards, and bag-in-box. It operates through the Packaging and Paper business segments. The Packaging segment designs, manufactures, and supplies paper-based packaging to package, promote, and protect customers’ products. The Paper segment manufactures a wide range of papers mainly used for packaging purposes. The company’s total global paper and board capacity is approximately 8.4 million tons per annum.
