Published Date: 2019-06-19 | Pages: Ongoing | Tables: Ongoing | Report ID: 7273
The global plastic protective packaging market is predicted to gain growth due to key driving factors such as high demand for packaged goods, increased consumer spending on packaged goods, and continuous development in technology. High global manufacturing output could be another factor fueling the growth of the global market. Players are anticipated to acquire other businesses to expand their footprint and achieve a position of strength in the global market.
In May 2019, RADVA, a US provider of temperature-sensitive and protective foam packaging solutions, was acquired by Huntington Solutions, a US-based manufacturer of custom-engineered expanded polypropylene and expanded polystyrene molded foam solutions. The acquisition will help Huntington to improve its cold chain capabilities and offerings.
Key Trends of Global Plastic Protective Packaging Market
● Continuous growth of the e-commerce sector is foretold to augment the demand for plastic protective packaging
● Manufacturers are developing the plastic properties of their products to contribute to reduced waste and environmental protection and thereby attract more consumers
● With a view to offer products that complement the unique physical properties of goods, manufacturers are prophesied to take a one-size-fits-all approach and develop important characteristics of their offerings
● Availability of cost-effective products and easy-to-use designs is anticipated to increase the demand in the global plastic protective packaging market
By Material Type
● Air Cushion
● Plastic Mailer
● Bubble Packaging
● Dunnage Bags
● Shrink Wrap
● Stretch Hood
● Stretch Wrap
According to analysts, stretch wrap is expected to gain higher demand in the global plastic protective packaging market due to key factors such as development of machinery technology and improvement in resin strength.
Europe is foreseen to take the lead in the global plastic protective packaging market because of the increase in the number of online retailers with the growing interest in e-shopping. The need to open more online stores to meet the rising demand from consumers is expected to further push the growth of the Europe market.
Important Points to Remember
● Increasing consumer inclination toward online shopping is expected to drive the global market growth
● The segment of stretch wrap is predicted to show higher adoption in the coming years
● Europe could lead the global plastic protective packaging market during the forecast period
● New product launches and acquisitions could be commonly observed in the global plastic protective packaging market
DS Smith Plastics Launched Fully Recyclable Packaging Solution in May 2019
DS Smith, a UK-based provider of corrugated and plastics packaging for consumer and industrial goods, offers injection molded, foam, extruded, flexible packaging and dispensing, and other solutions under its plastics portfolio. Its Plastics Division operates in 12 countries in Australasia, Asia, North America, and Europe from more than 25 facilities. In May 2019, its Injection Molding business of the Plastics Division introduced Loop Ready Packaging as a new line of fully recyclable, returnable, reusable, and robust packaging options.
Rivalry between Players Based on Product Demand and Innovation in Technology
Some of the major companies operating in the global plastic protective packaging market are Berry Global Group, Inc., AEP Industries Inc., Intertape Polymer Group Inc., and Smurfit Kappa Group. The global market also witnesses the presence of emerging companies such as Sealed Air Corporation, Signode Packaging Systems Corporation, Buergofol GmbH, Winpak Ltd., Kuplast Matejka Kumar S.P., Kureha Corporation, Allfo Vakuumverpackungen Hans Bresele KG, PREMIUMPACK GmbH, Coveris Holdings S.A., Flexopack S.A., and Schur Flexibles Group. Companies are expected to compete on the basis of distribution network, regulatory compliance, technological innovation, and product demand.
Preparation of Report
The researchers have specifically concentrated on providing an easy-to-understand competition dashboard of the global plastic protective packaging market that thoroughly evaluates players and the level of competition. The report includes a deep analysis of macroeconomic and microeconomic factors impacting the global market. It also focuses on SWOT, qualitative, and quantitative analyses to provide an in-depth assessment of the global market.
The researchers used reliable and authentic primary and secondary sources to offer recommendations, accurate insights and data, and critical information about the global plastic protective packaging market. They adopted top-down and bottom-up approaches and completed data triangulation and market breakdown procedures when compiling the report.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Packaging is an indispensable part of every industry. It ensures protection of the product and even extends shelf life of the packaged items. Through the years, the packaging industry has undergone massive changes. From development of better, sturdier materials to changing outlooks toward designing environment-friendly materials, the packaging industry has witnessed some noteworthy changes.
The research reports on the packaging industry discuss the evolution of materials and the impact of changing consumer needs. Packaging solutions have constantly adopted newer technologies for providing consumers with safer perishables and keeping the products intact until delivered. Analysts have taken a granular view at the booming e-commerce sector and its influence on the packaging industry. We aim to provide the readers an in-depth and a comprehensive analysis of the packaging industry. Intricacies pertaining to food safety, environmental norms, and research and development of materials have been studied by analysts with a focused approach.
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