The Fact.MR report also tracks the plastic protective packaging market for the forecast period 2018 to 2028. According to the report, the plastic protective packaging market is expected to register 6.7% CAGR through 2028. The plastic protective packaging market is projected to exceed 9 million tons in 2019, according to a new study by Fact.MR. Plastic protective packaging industry continues to remain influenced by various factors that range from focus of manufacturers on streamlining and optimization of plastic protective packaging, to advancements in plastic properties in line with reduced waste.
Consumer inclination toward online shopping has witnessed a dramatic rise in recent years, which in turn has boosted growth of the ecommerce sector significantly. Sensing the role of protective packaging the overall end-user experience, leading players in the plastic protective packaging market are focusing on easy-to-use designs, along with consistent branding activities. The study finds that plastic protective packaging market players are moving ahead of the one-size-fits-all approach, directing their focus toward offerings solutions that suit well with unique physical properties of goods, along with developments in characteristics.
Constant rise in the ecommerce sector has also meant that the plastic protective packaging manufacturers are putting more efforts on new product developments and innovations. Key online retailers are using automated packaging machines to integrate air cushions in package, while, small businesses with limited access to shipping and major distribution facilities are using plastic mailers due to the cost-efficiency.
According to the report, the demand for stretch wrap will remain relatively larger in light of its better recyclability and dust, moisture and tamper resistance. Sales of the LDEP resin-based stretch wrap are expected to close in on 3 million tons in 2019, which can be attributed to their amenability to heat shrinking, and high clarity. Moreover, better resistance to impact, moisture, and chemicals, along with recyclability has resulted in the wide application of LDPE resin in production of stretch wrap. Meanwhile, in recent years, the use of LLDPE resin has also increased in plastic protective packaging as it is a cost-effective alternative, and offers high strength in various conditions.
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Growing Environmental Concerns and Increasing Use of Flexible Packaging
Environmental concerns has led to some significant changes in the development of protective packaging. Demand for reduced waste and more-efficient packaging is high among large retailers, with an aim to reduce secondary and transit packaging waste at retail sites. Growing concerns regarding harmful effects of plastic on environment and health has led to the development and adoption of biodegradable plastics that meet all the technical requirements of the existing plastic protective packaging.
In response to growing demand for eco-friendly packaging, majority of the retailers are focusing on streamlining their packaging division with sustainable and eco-friendly solutions. This has resulted in the shift from plastic packaging to paper bags and paperboards made using recycled materials. With an aim to provide sustainable and affordable packaging across various industries, the use of bioplastics have increased in recent years. Bioplastics such as polythene made from sugar cane have emerged as highly preferred substitute for oil-based equivalents for the protective packaging where robustness and high-durability is vital.
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Europe will continue to spearhead the plastic protective packaging market, with sales projected to bring in revenues over US$ 4 billion in 2019. Increasing popularity of online shopping is leading to the rise in the number of retailers in Europe who focus on opening online stores, in turn fueling the demand for plastic protective packaging. However, the demand for plastic protective packaging in the region is likely to be kept in check by availability of effective sustainable alternatives. In addition, stringent regulations on use of plastic in the region is anticipated to hamper the adoption of plastic protective packaging to a certain extent.