03 Jun, 2019, 06:30 ET
ROCKVILLE, Maryland, June 3, 2019 /PRNewswire/ -- According to this newly published Fact.MR study, the plastic protective packaging market endures to remain influenced by several factors which range from focus of manufacturers towards streamlining and expansion of plastic protective packaging aimed at reduced waste. This assessment titled "Plastic Protective Packaging Market Forecast, Trend Analysis & Competition Tracking- Global Market Insights 2018-2028" projects that the plastic protective packaging market might surpass 9 million tons in 2019, thereby, injecting positivity towards a brighter future.
Based on research specifics, adoption of flexible packaging across the food and beverage sector involving pouches, sleeves, bags, shrink films, and tubes has increased. This is primarily due to their low weight, durability and flexibility properties that will continue to generate growth prospects for the plastic protective packaging market during the forecast period, 2018-2028. With numerous other market drivers contributing their share, the plastic protective packaging market is likely to register 6.7% CAGR through 2028.
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Stretch Wraps Emerge as Top-Selling Category in the Plastic Protective Packaging Market
It has been observed that demand for stretch wrap would stay relatively larger as a result of its recyclability and other striking properties like moisture, dust and tamper resistance. Interestingly, sales of the LDEP resin-based stretch wrap is projected to lock in at 3 million tons in 2019. These impressive statistics can be accredited to their pliability to heat shrinking, and high clarity. In the meantime, in recent years, the adoption of LLDPE resin has surged in plastic protective packaging due to its cost-effective alternative, and delivery of higher strength considering diverse conditions.
Ecommerce Making Way for Innovative Trends across Plastic Protective Packaging
The steady rise in the ecommerce sector has influenced the plastic protective packaging manufacturers to enhance their efforts on new product developments, earnestly driven by innovations. It is fascinating to know that online retailers are making use of automated packaging machines to assimilate air cushions in package. On the other hand, small businesses holding limited access to shipping as well as major delivery facilities are increasing their trust in plastic mailers; inclined towards cost-efficiency.
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Environmental Concerns Bolstering Use of Bioplastic Packaging
As an answer to growing need for eco-friendly packaging, a large number of retailers are shifting their focus on reshuffling their packaging division through eco-friendly and sustainable solutions. Hence, the swing from plastic packaging to paper bags and paperboards is gaining prominence. Furthermore, the use of bioplastics have increased in the past few years, giving a new definition to sustainable packaging. Bioplastics like polythene developed out of sugar cane have appeared as highly preferred alternative to oil-based equivalents associated to protective packaging.
European Market Receives Higher Traction from Online Shopping
According to this intelligent research study, Europe will endure to acquire its forefront position in the plastic protective packaging market. The sales across European market are projected to generate revenues exceeding US$ 4 billion in 2019. It has been noticed that popularity of online shopping is marked as the leading cause for the surge in online retailers, thereby, driving the demand for plastic protective packaging. Conversely, the demand for plastic protective packaging in the target region might be restricted due to the availability of operative sustainable alternatives.
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Some of the major players operating in the plastic protective packaging market as mentioned in the report are Berry Global Group, Inc., Intertape Polymer Group Inc., AEP Industries Inc., Sealed Air Corporation, Smurfit Kappa Group, Signode Packaging Systems Corporation, Kureha Corporation, Winpak Ltd., Flexopack S.A., PREMIUMPACK GmbH, Coveris Holdings S.A., Schur Flexibles Group, Allfo Vakuumverpackungen Hans Bresele Kg, Buergofol GmbH and Kuplast Matejka Kumar S.P.
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