In 2015, the global sales of protective
packaging products exceeded 14 million tons in volume, with flexible
products accounting for two-third of these revenues. The demand for
flexible protective packaging products is expected to dominate the
global market throughout the forecast period. The growth of global
e-commerce industry is playing an instrumental role in consumption of
flexible protective packaging products. Almost every other product
sold online requires a protective wrapping that can cover various
types of surfaces and object shapes. Integration of void fill and
wrapping processes for packaging operations in the e-commerce
business will continue to prompt higher sales of flexible protective
packaging products. On the other hand, the combined market share of
rigid and foam products in the global protective
packaging market is likely to be lesser than 35% through 2026.
According to Future Market Insights
report, titled “Protective Packaging Market: Global Industry
Analysis & Opportunity Assessment, 2016-2026,” growth of the
global market for protective packaging will be defined by factors
such as increasing need for inflatable packaging, rising preference
for paper-based packaging products and active participation of
third-party logistic companies. Key findings compiled in the report
have estimated that the global protective packaging market, which is
currently worth nearly US$ 25 billion market value, will expand at a
steady CAGR of 5.3% and reach US$ 41,822.8 million value by the end
of 2026.
Scrapped protective packaging products
being dumped as waste remains a key challenge for manufacturers
globally. Growing consumption of protective packaging products is
adversely affecting the environment as these products become futile
after their packaging use. Incessant dumping of such discarded
protective packaging products is compelling regional regulatory
bodies to induce strict recycling protocols for market players.
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Sonoco Product Company and Packaging
Corporation of America are among the leading eight companies that
collectively account for more than 17% share of the global market. A
comprehensive analysis on the competitive landscape of the global
protective packaging market indicates that a majority of global
company share analysis is fragmented into dozens of local or regional
market players. Companies such as Sealed Air Corporation, Ranpak
Corp., Cascades Inc., Storopack Hans Reichenecker GmbH, ACH Foam
Technologies, Inc., Advanced Protective Packaging Ltd. and Pregis
Corporation, are globally recognized as leading manufacturers of
protective packaging products. On the other hand, global chemicals
giant such as BASF SE is also profiled as a key player in the global
protective packaging market as the company’s performance materials
division has been associated with packaging businesses by
manufacturing engineering plastics, high-performance foams, and
biodegradable polymer materials.
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