Study reveals innovations increase sales in protective packaging market
Increasing usage of bio plastics and preference of paper-based packaging are the major drivers of growth within the protective packaging market.
Global sales of protective packaging reached about 15 million tons in 2018, according to a new research study presented by Future Market Insights, Valley Cottage, N.Y. According to the report, the protective packaging market is projected to grow by a CAGR of nearly 5% during the forecast period of 2019-2029, primarily influenced by the recent transformations in the global packaging landscape.
Increasing usage of bio plastics and preference of paper-based packaging are the major drivers of growth within the protective packaging market. Growing consumer appeal toward the benefits of protective packaging, such as protection against moisture, temperature and light along with increased durability also remain key growth influencers.
Increasing demand for inflatable protective packaging in transportation industry
Inflatable protective packaging formats have gained increasing popularity among manufacturers, logistics service providers and retailers due to high level of protection. Moreover, the carbon footprint of inflatable protective packaging formats is negligible as compared to other solutions such as loose fill products (e.g., foam peanuts).
According to report, rising internet and smartphone penetration across the globe are the vital factors boosting the global protective packaging market growth.
Shift in preference from plastic- to paper-based
Protective packaging suppliers are continuously shifting their focus toward paper-based packaging in order to keep the environment free from harmful plastic waste. Kraft paper can be used as void fill solution while paperboard can be used for blocking and bracing purpose. Molded pulp is another material used in protective packaging formats, providing protection for fragile and delicate products.