Protective packaging market to grow by CAGR 5%

According to a new research study by Future Market Insights (FMI), the global sales of protective packaging reached 15 million tonnes in 2018. The report states that the protective packaging market is set to grow by a CAGR per cent during the forecast period of 2019 to 2029, due to the recent transformations in the global packaging landscape.

13 Dec 2019 | By Aultrin Vijay

The report said that an increasing usage of bioplastics and preference of paper-based packaging are the major factors, which drives the growth of the protective packaging market. Growing consumer appeal towards the benefits of protective packaging, such as protection against moisture, temperature and light along with increased durability and low-cost will remain key growth influencer of the protective packaging market, the report stated.

Furthermore, inflatable protective packaging formats have gained popularity among manufacturers, logistics service providers, and retailers, due to high level of protection at a low cost, according to the research report. It is considered environment-friendly, and said to provide greater level of protection than other bulkier alternatives.

In addition, inflatable protective packaging has reduced the damages due to the shock absorption capabilities during transit. The inflatable bags are shipped flat, which reduce the shipping costs and storage space.

The assembly of inflatable protective packaging formats is simple and quick, requiring compressed air of only 10-12 psi. Moreover, the carbon footprint of inflatable protective packaging formats is negligible as compared to other solutions such as loose fill products.

The report states that the inflatable protective packaging formats are lightweight, waterproof, and 100% recyclable in nature, which pleases the growing eco-conscious consumers. They also provide every physical protection, containment, security, and sustainability to products to be transported.

Rising internet and smartphone penetration across the globe are said to be the vital factors that are boosting the global protective packaging market growth.

The report noted that the protective packaging suppliers are continuously shifting their focus toward paper-based packaging, in order to keep the environment free from harmful plastic waste. Kraft paper could be used as void fill solution and paperboard for blocking and bracing purpose.

Molded pulp is another material used in protective packaging formats, and requires recycled paper and water that are easily accessible. The flexibility of molded pulp offers cushioning qualities and the ability to adapt to the shape of the product. Molded pulp packaging products also provide protection for fragile and delicate products. More importantly, molded pulp is available at very low prices and can be molded into a number of unique and complex shapes and configuration.

The report also underlines insights into the competitive scenario of protective packaging market along with highlights of the manufacturers’ differential strategies. Prominent manufacturers are focusing on providing protective packaging as per the end-use industries’ requirement. They are also focusing on achieving growth by acquiring and widening their product portfolio through differentiated offerings.