Packaging is the process of enclosing products in packages with protective wrappings or other external coverings to provide protection, information, security, and other benefits. Common packaging materials include boxes, bubble wrap, plastic, bags, cloth, and cartons. Product packaging has become an increasingly significant component of sales and marketing operations. With online sales increasing at a pace of 20% per year, packaging has an impact on brand image as well as shipping costs. Innovative packaging solutions provide brand value through internal packaging while also demonstrating commitment to environmentally responsible packaging while lowering overall package size and weight for decreased shipping costs.
The global protective packaging market is estimated to be valued at US$ 31,766.5 million in 2021 and is expected to exhibit a CAGR of 5.3% over the forecast period (2021-2028).
A recent study shows that consumer are more inclined toward purchasing products online, which is increasing the demand for packaging to protect goods from shock, vibration, and other damaging effects of shipping and handling. Increasing e-commerce sector is one of the main drivers and supports gains for products such as air pillows and protective mailers.
Packaging technological innovatons are critical in driving the growth of the protective packaging industry. The market is expanding rapidly due to a variety of causes, including increased demand from the food and beverage and healthcare industries, as well as consumer preference for easy packaging. Instead of employing traditional packing methods, advancements in technology have enabled innovation. Key market participants are focused on R&D operations to develop sustainable and environmentally friendly packaging materials that can be reused and recycled, according to recent trends. Popularity of online shopping, as well as the use of protective materials and sustainable packaging, are expected to have a positive impact on market growth throughout the projection period. Demand for protective packaging is driving investment in e-commerce applications. Many companies are investing extensively in the development of packaging products, with the goal of developing barrier resistant qualities that provide resistance to heat and moisture while also preventing food oxidation.
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