The protective packaging market size is projected to grow from USD 24.3 billion in 2017 to reach USD 37.0 billion by 2027, at a CAGR of 4.31%.

The report "Protective Packaging Market by Material (Foam Plastics, Paper & Paperboard), Type (Flexible, Rigid, Foam), Function (Cushioning, Blocking & Bracing, Void Fill), Application (Food & Beverage, Consumer Electronics), and Region – Global Forecast to 2027"

The major players include Smurfit Kappa Group (Ireland), Sealed Air Corporation (US), Sonoco Products Company (US), WestRock US), Huhatamaki (Finland), Ranpak (US), Pregis Corporation (US), Pro-Pac Packaging (Australia), Storopack Hans Reichenecker (Germany), Dow (US), and DS Smith (UK). The companies have adopted strategies such as acquisitions, expansions, and new product launches to cope with the increase in demand in the emerging markets.

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Target audience

Manufacturers of protective packaging
Importers and exporters of protective packaging
Traders, distributors, and suppliers of protective packaging
End users (food & beverage, healthcare, industrial goods, automotive, household appliances, and consumer electronics industries)
Based on application, the market has been segmented as follows:

Food & beverage
Health care
Industrial goods
Automotive
Household appliances
Consumer electronics
Others
“Flexible protective packaging segment, by type, to gain maximum share during the forecast period”

The flexible protective packaging segment is projected to account for the largest share in 2027, mainly because of the growth in consumption of food & beverage, dairy, and cosmetic products. Flexible protective packaging is appealing as well as functional as it offers convenient packaging, which can be easily wrapped according to the size and shape of the product. The growth of the healthcare industry also provides an opportunity for the growth of the protective packaging market due to the rise in consumption of over-the-counter products for which flexible protective packaging is used, especially in the emerging markets of Asia Pacific and South America.

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“Foam plastics segment, by material, to grow at the highest rate during the forecast period”

Raw materials such as foam plastics, paper & paperboard, and plastics are used for protective packaging. The foam plastic segment accounted for the largest market share in terms of value, in the protective packaging market. Foam plastics are lightweight and provide thermal insulation and offer shock-dampening properties; this segment is thus projected to be the fastest-growing in the protective packaging market.