Protective Packaging Market trends Flourishes Relentlessly; Asserts MRFR Unleashing Industry Forecast Up To 2027 :
Market Research Future published a half cooked research report on “Global Protective Packaging Market trends Research Report - Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027”.
Global Protective Packaging Market trends - Overview
The Protective Packaging Market trends is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by the growing trend for online shopping, rapid growth in electronic sector and easy availability of biodegradable bubble wrap. However, availability of other alternative packaging hinder the growth of the market.
The continuous growth of the online shopping market is fuelling the overall growth of the bubble wrap packaging market. The benefits of online shopping such as faster delivery, easier return policies, and free shipping, have made many customers switch from the traditional methods of shopping. Amazon (U.S.) has been leading the market with a total revenue of USD 107,006 million, as compared to eBay (U.S.) with total revenue of USD 8,592 million in 2015.
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Rapid growth in the electronic sector is ultimately driving the demand of the protective packaging. Today consumer electronics is the top selling category due to increase in the number of online electronics models. According to REED Electronic Research, a leading market information provider on the global electronics industry, in 2015, China has accounted for 38% of electronics equipment production in the global market.
Most of the consumers as well as manufacturers today are concerned about the impact of packaging on the environment due to the rising awareness of environment protection. Besides being an innovative and environment friendly packaging solution, biodegradable protective packaging such as bubble wrap is fully reusable and recyclable. Biodegradable bubble wrap breaks down in a landfill and is completely absorbed into the soil.
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Key Players:
Global Protective Packaging Market trends - Competitive Analysis
Sealed Air Corporation seeks to enhance its position as a leading global provider of innovative packaging and hygiene solutions that the customers use for improving performance, cost competitiveness, sustainability and automation with the objective of enhancing productivity of operations. Sealed Air Corporation has majorly been focusing on the expansion as a strategy and is accelerating the rate of growth in the developing economies.
The major strategy of Veritiv Corporation (U.S.) is to invest in higher margin segments to achieve higher growth. For this reason, the company is majorly focusing on the packaging and services segment. The company is also focusing on expanding its existing services by focusing on logistics, Design, Fulfilment/kitting and Equipment Service.
Global Protective Packaging Market trends - Segments
Segmentation By Product Type : Comprises – Rigid Protective, Flexible Protective, and Foam Protective.
Segmentation By Material : Comprises – Paper & Paperboard, Foam Plastics, Plastics and others
Segmentation By Application : Comprises – Consumer Goods, Food & Beverages, Industrial Goods, and others
Segmentation By Function : Comprises – Flexible Cushioning, Insulation, Wrapping, Void-Fill, and others
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global Protective Packaging Market trends - Regional Analysis
China accounts for the largest market in Asia Pacific. In China, the electronics and appliance retailers dominate the market. Domestic manufacturers are accounting for the increase in share of consumer electronics due to growing brand reputation and improved technology. Factors such as rising increase in disposable income, urbanization are some of the major factors driving the demand for bubble wrap packaging solutions.
In Japan, electronics and consumer goods is expected to dominate the market during the forecast period. E-commerce industry offers an attractive and convenient shopping option to consumers, which provides an innovative, sustainable and seamless experience over all channels. Furthermore, E-commerce in India has transformed the Style of business. The growth factors for e-commerce in Japan are mobile commerce use bubble packaging for light weight and heavy duty products.