Global Packaging and Protective Packaging Market:Packaging and protective packaging can be a wrapping or container made from materials such as plastic, paper, wood, metal, or glass used to store products temporarily or to protect and extend shelf life of product. Primarily, packaging and protective packaging is intended to protect goods from loss, and damage during transport, distribution, and storage. Certain type of packaging protects the product from atmospheric, magnetic, electrostatic, vibration, or shock damage during shipping and storage. Moreover, it also retains the freshness, flavor, and efficacy of the food products for a longer duration by protecting them from water, oxygen, dust, and microorganisms. The food industry is the largest consumer of packaging and protective packaging, followed by the healthcare industry.
Increase in consumption of packaged fast-moving consumer (FMCG) goods across the globe is a key driver for growth of global packaging and protective packaging market. In addition, increasing end use applications of protective packaging, and technological advancements in the packaging industry are major factors contributing to growth of the global packaging and protective packaging market over the forecast period.
However, rising demand for eco-friendly packaging products that are not plastic based is a key factor restraining the growth of global packaging and protective packaging market. Additionally, consumer shift towards lightweight, bio-degradable packaging, and recyclability issues with packaging and protective packaging are major factors hampering growth of the global packaging and protective packaging market.
The global packaging and protective packaging market report has been segmented on the basis of raw material, product type, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in Asia Pacific dominates the global packaging and protective packaging market in revenue terms owing to, increase in manufacturing activities being carried out in emerging economies such as India and China. Rising demand for packaged products from India, and China is a major factor for Asia Pacific’s dominance over the global packaging and protective packaging market. North America is currently the second-highest market in terms of revenue contribution to the global packaging and protective packaging market, owing to high healthcare expenditure by governments of countries in the region, followed by the markets in Europe, and Middle East & Africa respectively.
Prominent players in the global packaging and protective packaging market include, Smurfit KAPPA Group PLC, Rocktenn Company, Sealed Air Corporation, Sonoco Products Company, Huhtamaki OYJ, DS Smith PLC, Pregis Corporation, Pro-Pac Packaging Limited, Storopack Hans Reichenecker GmbH, and The DOW Chemical Company.