Packaging and Protective Packaging Market to Witness Steady Rise in the Coming Decade 2027 by MGA Study
Wednesday, August 14, 2019
Global packaging and protective packaging market in its upcoming report titled, “Global Packaging and Protective Packaging Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global packaging and protective packaging market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global packaging and protective packaging market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global packaging and protective packaging market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global packaging and protective packaging market report has been segmented on the basis of raw material, product type, application, and region.
Packaging and protective packaging can be a wrapping or container made from materials such as plastic, paper, wood, metal, or glass used to store products temporarily or to protect and extend shelf life of product. Primarily, packaging and protective packaging is intended to protect goods from loss, and damage during transport, distribution, and storage. Various type of packaging protects the product from atmospheric, magnetic, electrostatic, vibration, or shock damage during shipping and storage. Moreover, it also retains the freshness, flavor, and efficacy of the food products for a longer duration by protecting them from water, oxygen, dust, and microorganisms. The food industry is the largest consumer of packaging and protective packaging, followed by the healthcare industry.
Increase in consumption of packaged fast-moving consumer (FMCG) goods across the globe is a key factor driving growth of global packaging and protective packaging market. In addition, increasing end use applications of protective packaging, and technological advancements in the packaging industry are other factors contributing towards growth of the global packaging and protective packaging market in the near future.
However, rising demand for eco-friendly packaging products that are not plastic based is a key factor restraining growth of the global packaging and protective packaging market. Additionally, consumer shift towards lightweight, bio-degradable packaging, and recyclability issues with packaging and protective packaging are other factors expected to hamper growth of the global packaging and protective packaging market.
Currently, the market in Asia Pacific dominates the global packaging and protective packaging market in revenue terms owing to, increase in manufacturing activities being carried out in emerging economies such as India and China. Rising demand for packaged products from India, and China is a major factor for Asia Pacific’s dominance over the global packaging and protective packaging market. North America is currently the second-highest market in terms of revenue contribution to the global packaging and protective packaging market, owing to high healthcare expenditure by governments of countries in the region, followed by the markets in Europe, and Middle East & Africa respectively.
Global packaging and protective packaging market segmentation by product type:
Flexible Protective Packaging
Rigid Protective Packaging
Foam Protective Packaging
Global packaging and protective packaging market segmentation by raw material:
Paper & Paperboard
Global packaging and protective packaging market segmentation by application:
Food & Beverage
Global packaging and protective packaging market segmentation by region:
Middle East & Africa
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