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$25 Billion Global Protective Packaging Market Poised for Steady Growth

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Future Market Insights' (Valley Cottage, N.Y., USA) research on the global protective packaging market predicts promising growth for flexible protective packaging. 

According to FMI, in 2015, the global sales of protective packaging products market 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. 

Growth of the 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 less than 35% through 2026.

According to the 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 $25 billion, will expand at a steady CAGR of 5.3% and reach $41,822.8 million by the end of 2026.

A sample report with table of contents can be requested online. 

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.

Sonoco Product Co. and Packaging Corp. 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 Corp., Ranpak Corp., Cascades Inc., Storopack Hans Reichenecker GmbH, ACH Foam Technologies Inc., Advanced Protective Packaging Ltd., and Pregis Corp. 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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