Packaging and protective packing is used if there are chances of physical damage to a product in the course of conveyance or handling during delivery. With the rising flow in supply chains of various products, there has been massive advancements in packaging materials and technologies, which has paved the way for the protective packaging industry to dive into the phase of speedy developments.
Packaging and protective packaging materials usually comprise of paper, plastic, metal, wood, or glass. These materials are used to store products during their transportation and delivery to intended users or sellers to safeguard them from external damage. The aim of packaging materials is to protect the products from atmospheric, magnetic, vibration, electrostatic or shock damage in the course of delivery and storage. Today, packaging and protective packaging materials are used in an extensive range of industries such as automotive, food & beverages, aerospace, electronics appliances, electronics, and pharmaceuticals.
Up until now, nearly 69% of Americans have shopped through online portals, and about 25% of Americans purchase products online at least once in a month. Moreover, enhancing lifestyles of North Americans and their growing consumption of packed foods and convenience foods have given a thrust to the demand for packaging and protective packaging materials in the recent years. Additionally, the evolution of various industries is expected to work as an add-on for the growth in the demand for packaging and protective packaging in North America.
Newest Insights in the North America Packaging and Protective Packaging Market
As per a report by Research Dive, the North America packaging and protective packaging market is expected to surpass $262,784 million by 2025. As per analysts, The U.S. market is expected to grab a maximum share of the North America packaging and protective packaging market, mainly because of the bulging demand and rising expenditures on industrial packaging in the country. The thriving e-commerce sector, particularly in the U.S. and Canada, is anticipated to further drive this market growth. Moreover, the introduction of eco-friendly and biodegradable protective packaging materials is estimated to unlock rewarding growth opportunity for the North America packaging and protective packaging market in the coming years.
How are Market Players Responding to the Rising Demand for Packaging and Protective Packaging?
Market players are greatly investing in innovative product launches to cater the rising demand for packaging and protective packaging. Some of the leading players of the North America packaging and protective packaging market are Pacific Conveyor Systems, Placon, WestRock Company, Sonoco Products Company, Universal Protective Packaging, Inc., 3M, Pregis LLC., Dow, Packaging Corporation of America, Sealed Air, Automated Packaging Systems, Inc., Robert Bosch Packaging Technology GmbH, and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a foremost position in the North America packaging and protective packaging market.
- In January 2020, DS Smith, a leading packaging firm in the UK, launched a novel and advanced 550,000ft2 box manufacturing facility in the North America.
- In May 2022, Sealed Air, a North American company focused on providing packaging solutions, introduced a new digital packaging brand called, prismiq, which has a wide range of solutions for digital printing, design services, and smart packaging.
- In June 2022, SKYLARK, a the joint venture focused on changing the hygiene packaging market, launched TLC wet wipe packaging label in the North America. TLC labels are developed to facilitate a low-cost substitute to rigid plastic lids.
COVID-19 Impact on the North America Packaging and Protective Packaging Market
The pandemic and subsequent lockdowns forced numerous restaurants to limit their capacity or shut down completely. On the other hand, several people in North America adopted online food delivery options owing to the fear of acquiring COVID-19 infection if stepped out of homes. Food delivery was one of the rapidly-growing segments in 2020, delivering consumers with safe and convenient food services. The proficiency of food delivery apps to deliver food by following all the social distancing and sanitizing norms is the main reason behind the speedy growth of the food-delivery industry. Hence, there was a substantial surge in the demand for packaging and protective packaging materials from the food delivery sector amidst the pandemic. All these factors positively impacted the North America packaging and protective packaging market growth in the course of the pandemic.