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.