Study: Protective packaging market projected to reach $44.6B by 2025
The food and beverage market was the biggest end-use subdivision in 2016, with wrapping being the most popular subdivision.
The global protective packaging market is estimated to touch $44.6 billion by 2025, according to a report published by Million Insights, Felton, Calif., thanks to growing production of manufacturing units on an international level, incessant progressions of technology and end user expenditure on wrapped merchandises.
The growing demand from a number of end-use businesses continues to motivate the progress of the market worldwide. Furthermore, requests from e-commerce businesses, particularly in Asia Pacific, are expected to power the demand above the period of prediction. Market is estimated to develop at a CAGR of 5.6% for the duration of the prediction.