Analysis of plastic protective packaging market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The plastic protective packaging will register robust growth surpassing 6.7% CAGR between 2021 and 2031.
As of 2020, overall market revenues surpassed US$ 14.6 Billion. The market will continue to witness robust growth, expanding almost 2x and likely to surpass US$ 28 billiion by 2031, owing to growing demand for inflatable packaging and increasing adoption of plastic packaging in the e-commerce sector.
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The global market for plastic protective packaging expanded at over 5% CAGR, reaching US$ 14.6 Billion. Consumer inclination towards online shopping has witnessed a dramatic rise in recent years, which in turn has boosted the growth of the e-commerce sector significantly.
Sensing the role of protective packaging in 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. Consequently, the global demand for plastic protective packaging will continue to surge, projected to grow at nearly 6.7% CAGR during the 2021-2031 forecast period.
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In recent years, e-commerce has been facilitating consumers across the world by delivering the products in the best condition. The widespread adoption of e-commerce facilities has resulted in thousands of packets being delivered daily across the world, further increasing the demand for quality packaging of the products.
Factors such as quick delivery, free shipping, and simple return policies are contributing towards the adoption of e-commerce over the conventional method of shopping. Growing demand for novel products, huge availability of various products, and the enormous growth in the overall e-commerce market are pushing the demand for plastic protective packaging.
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Demand for pre-packed food continues to increase, amid changing lifestyles and the expanding global population. Latest trends suggest that in recent years there has been an increase in the number of working women and the dominance of nuclear families. This is shaping the lifestyles of a majority of consumers in emerging economies.
Demand for on-the-go products has surged as they reduce time spent on cooking, which contributes to the demand for plastic protective packaging. Moreover, rising disposable income and increasing consumption of packed goods will also fuel the demand for rigid packaging in emerging markets.
The foodservice industry is focusing on trading, logistics, marketing, and consumer services, all of which are directly dependent on the quality of the packaging of the food. This global trend of takeaways and growing ready-to-eat food consumption has increased the demand for pre-packed food and foodservice packaging.
This has further resulted in increased plastic production, and hence, a large number of retailers in the foodservice industry are focusing on the usage of plastic protective packaging.
According to the British Plastic Federation (BPF), over 70% of the soft drinks in the global market, are being packaged in PET plastic bottles, while the rest of the 30% gets packed and is available in other variety of packaging materials, such as glass bottles, metal cans, and paper-based cartons.
Stretch wraps have gained high palpability as an effective packaging solution in recent years, with demand attributed to growth in palletizing and shipping activities, in line with the rising purchasing power of consumers and retail activities.
Improvement in resin strength and machinery technology used in stretch wrap manufacturing is also likely to expand the application range of stretch wraps in the upcoming years. Multi-layer stretch wraps and films are also gaining popularity across various industries due to their high strength and customization potential.
According to Fact.MR’s report, the demand for stretch wrap will remain relatively larger in light of its better recyclability and dust, moisture, and tamper resistance. Sales of the LDEP resin-based stretch wrap are expected to close in on 3 million tons in 2022, which can be attributed to their amenability to heat shrinking, and high clarity.
The U.S. market is expected to rise at a CAGR exceeding 5% over the forecast period. As per the report, the U.S. is projected to display strong demand for plastic protective packaging solutions during the upcoming years.
One of the key factors behind the increasing demand for plastic protective packaging solutions in the U.S. is the significant presence of prominent packaging giants such as the Sealed Air Corporation, Berry Global Inc, and others who produce and sell a wide range of plastic protective packaging solutions as per industry requirements.
Europe is projected to be the largest revenue contributor to the global market for plastic protective packaging, with sales projected to bring in revenues over US$ 4 Bn in 2022. It is expected to clock a CAGR worth 4.5% through 2031.
The region is projected to show the highest growth rate owing to the increasing disposable incomes, improving economic conditions, increasing number of double-income families, and on-the-go food trends.
European Union (EU) adopted a strategy known as Circular Plastics Alliance. This initiative aims to boost the EU market for recycled plastics to 10 million tons by 2025. The alliance covers the full plastics value chains and includes 282 organizations representing industry, academia, and public authorities.
With significant growth in the construction and electronics sector, air cushion and bubble packaging have emerged as the viable protective packaging solution for 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 configurations, inflated bubble packaging with various grades that adjust the size of the bubble as per the product. Moreover, recycled materials are also being used to produce modern inflated bubble products. A market share worth 50% is projected for both segments.
The global plastic protective packaging market is highly competitive in nature. The global reach of well-established market players and high capital investment for entering the market has created barriers for new market players.
Market size value in 2020
|USD 14.6 Billion|
Market forecast value in 2031
|USD 28 Billion|
|CAGR of 6.7% from 2021 to 2031|
Historical Data Available for
Key Regions Covered
Key Market Segments Covered
Key Companies Profiled
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The market is projected to grow at nearly 6.7% CAGR until 2031
According to Fact.MR, the plastic protective packaging industry is poised to expand almost 2x by 2031
Expansion in e-commerce is driving the global plastic protective packaging market.
Bubble wraps & air cushions will collectively generate 50% of total revenue
The U.S. market is expected to rise at over 5% CAGR from 2021 to 2031
Europe is projected to bring in revenues over US$ 4 Bn to the global market for plastic protective packaging
Berry Global Group, Inc., AEP Industries Inc., Intertape Polymer Group Inc. and Smurfit Kappa Group are some prominent manufacturers
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