Global Packaging and Protective Packaging Market Report and Forecast 2024-2032

Global Packaging and Protective Packaging Market Outlook

The global packaging and protective packaging market size was around USD 1.17 trillion in the year 2023. The market is estimated to grow at a CAGR of 4.2% between 2024 and 2032, reaching a value of nearly 1.69 trillion by 2032.

Key Trends in the Market

Packaging refers to the enclosing of products using a container, box, or similar item to protect it from damage during shipping and storage. Meanwhile, protective packaging refers to the packaging material used to wrap or protect goods from external conditions during shipping and warehousing. It is engineered to safeguard goods from a range of potential hazards, such as atmospheric, magnetic, electrostatic, vibration, or shock damage.

• The exponential growth of online shopping has resulted in significant changes in product design, packaging, fulfilment, and shipping; and product protection has thus become one of the most crucial aspects for businesses. Hence, the packaging and protective packaging market size is likely to benefit from the expansion of the e-commerce sector, contributing to the demand for packaging solutions that boast high-performance, cost-effectiveness, and versatility.

• The shift towards sustainable and eco-friendly options that can be reused and recycled is one of the major packaging and protective packaging market trends. Sustainable packaging solutions like paper mailers are gaining popularity due to their eco-friendly qualities, especially in developed markets with strict environmental regulations and recycling programmes, such as North America.

• With rising demand for consumer electronics, protective packaging solutions are witnessing an increased usage to ensure the safe delivery of products and prevent the risk of damage, especially in case of fragile components. Factors such as product type, material specifications, and environmental conditions influence the selection process of different protective packaging solutions.

• The packaging and protective packaging market demand is expected to be fuelled in the forecast period by the rising usage of advanced materials and technologies like 3D printing by manufacturers to enhance the production efficiency and functionality of packaging solutions.

Market Analysis

The market can be divided by type into rigid and flexible packaging. Based on function, the packaging and protective packaging market segmentation includes cushioning, blocking and bracing, void-fill, insulation, and wrapping, among others. On the basis of material, the market can be categorised into paper and paperboard, plastics, metal, and glass, among others.

Based on end use, the market is divided into food and beverage, industrial goods, consumer electronics, household appliances, healthcare, and automotive, among others. The major regional markets for packaging and protective packaging are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global packaging and protective packaging market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• DS Smith Plc

• Sealed Air Corporation

• Pro-Pac Packaging Limited

• Sonoco Products Company

• Smurfit Kappa Group

• International Paper Company

• Storopack Hans Reichenecker GmbH

• Huhtamäki Oyj

• Universal Protective Packaging, Inc.

• WestRock Company

• Others

Market Share by Material

As per the packaging and protective packaging market analysis, paperboard is widely used in various packaging applications, including frozen food, beverage cartons, pharmaceuticals, aseptic boxes, cosmetic and perfume packaging, candy boxes, and cereal boxes, among others. The demand for paper and paperboard packaging, especially from the food and beverage industry, is expected to increase during the forecast period due to the material’s versatility, cost-effectiveness, and flexibility. Moreover, stringent regulations aimed at lowering the use of plastic packaging are pushing manufacturers to look for more eco-friendly and sustainable alternatives, such as paperboard materials, which is expected to further drive its consumption over the coming years.

Market Share by Region

The Asia Pacific, with countries like China, India, Japan, Australia, and ASEAN, represents a significant portion of the global packaging and protective packaging market share. The region is expected to experience a robust growth throughout the forecast period as a result of rapid industrialisation  and urbanisations trends observed in emerging economies and growing demand from major end use sectors of the product.

The growing consumption of packaged food, particularly in emerging countries such as China and India, contributes to the demand for packaging solutions. Meanwhile, the consumer goods industry is experiencing significant growth in countries like China, Japan, Australia, India, and Indonesia, which further favours the market growth.

Competitive Landscape

DS Smith Plc provides sustainable packaging solutions, paper products, and recycling services globally. Originating in East London in the 1940s, the company has a presence in over 30 countries and a workforce of 30,000+ employees. DS Smith is dedicated to sustainability and innovation, utilising  recycled materials and circular economy principles. With a focus on customer satisfaction, DS Smith delivers high-quality products and services through its skilled workforce and advanced technology.

Pro-Pac Packaging Limited operates on a global scale, with an extensive distribution and manufacturing network that spans both Australia and New Zealand. Its  range of packaging solutions includes primary, secondary, and tertiary options, catering to a diverse range of industries that includes primary produce, food processing, agriculture, warehousing, logistics, as well as retail and FMCG.

Sonoco Products Company is a global packaging manufacturer established in 1899. With over 19,000 employees and operations in 34 countries, the company serves prominent brands, delivering sustainable and comprehensive packaging solutions that enhance brand identities, elevate product quality, and improve customer interactions.

Other companies operating in the packaging and protective packaging market include Sealed Air Corporation, Smurfit Kappa Group, International Paper Company, Storopack Hans Reichenecker GmbH, Huhtamäki Oyj, Universal Protective Packaging, Inc., and WestRock Company, among others.

Key Highlights of the Report