2020 Updates: Economic condition with Future prospective of Packaging and Protective Packaging market
Pune, New York, USA, November 17 2020 (Wiredrelease) Research Dive –:According to a new report published by Research dive,titled,“Packaging and Protective Packaging Market: North America Opportunity Analysis and Industry Forecast, 2018–2025″. The North America packaging and protective packaging market was valued at $191,536 million in 2017 and is projected to reach $ 262,784 million by 2025, growing at a CAGR of 4.0% from 2018 to 2025.
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Key Findings of North America Packaging and Protective Packaging Market:
The North America packaging and protective packaging market is projected to grow at a CAGR of 4.0% during the forecast periodThe commercial segment is expected to grow with the highest CAGR in the North America packaging over the projected periodPaper & paperboard is expected to be the fastest growing segment in U.S. during forecast the period.The qualitative data in North America packaging and protective packaging report aims on the market dynamics, trends, and developments in the protective packaging industry while the quantitative data provides information of the size in terms of revenue.
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Packaging and Protective Packaging Market by Material
Paper & PaperboardRigid PlasticsFlexibleMetalGlassOthers
Demand for packaging and protective packaging
Packaging and protective packaging is extensively used for packaging products. The demand for packaging and protective packaging is higher in U.S. due to demand increase during the forecast period owing to rise in sales owing to online shopping. In addition, the packaging and protective packaging market in North America is experiencing several growth opportunities due to increased investments by major key players towards the biodegradable plastic advancements. It offers protective packaging materials includes paper & paperboard, rigid plastics, flexible, metal, glass, and others.
Packaging and Protective Packaging Market by Function
CushioningBlocking & BracingVoid-fillInsulationWrappingOthers (Vibration Dampening, Moisture Protection, UV & Weather Resistance, and Fireproofing)
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Increase in usage of industrial packaging equipment drives the market growth
The ongoing increase in usage of industrial packaging equipment drives the market growth. In addition, protective packaging material such as plastic, metal, and glass coupled with growth of packaging industry have effectively helped to save product quality, which further fuel the growth of the market. However, the strict rules and regulations from government and regulating bodies hamper the market growth.
Packaging and Protective Packaging Market by Application
FoodBeverageHealthcareCosmeticsIndustrialOther Consumer Goods
Key Packaging and Protective Packaging Market segmentation based on material, function, application, and region
This market is segmented based on material, function, application, and region. Based on material, it is classified into paper & paperboard, rigid plastics, flexible, metal, glass, and others. Based on function, it is divided into cushioning, blocking & bracing, void-fill, insulation, wrapping, and others. On the basis of application, it is classified into food, beverage, healthcare, cosmetics, industrial, and other consumer goods. By country, it is analyzed across North America in counties U.S., Canada, and Mexico.
Major Key players and Region
The major companies profiled in the report include Placon, WestRock Company, Sealed Air, Sonoco Products Company, Pregis LLC., Dow, Packaging Corporation of America, Pacific Conveyor Systems, Universal Protective Packaging, Inc., Automated Packaging Systems, Inc., 3M, and Robert Bosch Packaging Technology GmbH.
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Market players have adopted agreement, partnership, and expansion as their key strategies to gain competitive advantage in the North America packaging and protective packaging market growth.
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