Global Protective Packaging to Increase at 5.6% CAGR to 2025, Expects Grand View Research in Its In-
Added: (Mon Jan 29 2018)
Pressbox (Press Release) -
In the modern world, ensuring positive customer experience and meeting consumer requirements are the most significant factors for companies. Packaging is the first tangible interaction with a customer, therefore, it is very important.
The flexible packaging sector grabbed the biggest share of the world’s protective packaging market in 2016, majorly due to the enhancing preference for online shopping amidst consumers. Presently, online retail channels widely use a slew of flexible packaging products like paper fills, flexible foam, bubble wraps, air pillows, to name a few.
The Food & Beverage industry was the major consumer of protective packaging in 2016. This end-use segment is predicted to exhibit a 6% CAGR between 2018 and 2025.
The world’s protective packaging market will likely increase at a 5.6% CAGR during 2018-2025 to climb to USD 44.6 billion. The escalating demand from different end-use industries is the major factor fueling the market growth. Besides, robust technological progress and rising consumer spending worldwide are also important drivers of the protective packaging market. However, strict regulations associated with the degradability of packaging materials are expected to hamper the market growth in the foreseeable future.
The protective packaging market will likely exhibit the highest growth rates in the APAC region through to 2025, spurred primarily by the rising demand from the healthcare and consumer electronics industry. As for revenues, this regional market is forecast to see growth at a 7% CAGR.
The in-demand research report “Protective Packaging Market Analysis, By Type, By Material, By Function, By End Use, By Region And Segment Forecasts, 2014 - 2025” (available at http://bit.ly/2BAxZ99) prepared by Grand View Research provides a profound study of the protective packaging market performance, dynamics and trends at different geographical scales. It comprises trustworthy market data, examines the main market growth restraints and drivers, pinpoints the emerging growth challenges and opportunities, includes a detailed market segmentation analysis and delves deep into the competitive environment. Besides, this report includes comprehensive profiles of the leading participants. In addition, future forecasts for the protective packaging market development up to 2025 are at hand in this report.
Follow Grand View Research online catalogue to find many other research reports by this publisher.
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