London, 27 October 2015: Technavio, the independent tech-focused global research firm, has published a report on the global protective packaging market 2015-2019, which is expected to grow at a CAGR of 5.53% during the period of 2014-2019.
The growing packaging industry and changing consumer perceptions about protective packaging strongly support the market. Indonesia, China, and India are the major revenue contributors. These regions are experiencing high growth in production and demand because of increased contract manufacturing activities. Consumers in these regions are proactively switching from conventional packaging to protective packaging materials.
“Vendors are investing in R&D to develop materials that can be recycled, have the capability of friction, and are moisture and heat resistant,” says Faisal Ghaus, Vice President of Technavio.
“Manufacturers of packaging materials are also looking at differentiating their products from their competitors by providing the best possible protective packaging products to meet customers’ needs.”
Key Market Drivers
- Demand for compostable packaging
- Increased use in e-commerce industry
- Growth in manufacturing output
Key Market Trends
- Focus on sustainability
- Technological innovation’
- Expansion of market
Key Market Vendors
- Pregis
- Sealed Air
- Smurfit Kappa
- Sonoco
- Storopack
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Protective Packaging Market 2015-2019, please send an e-mail to media@TechNavio.com.
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