Los Angeles, CA -- (SBWIRE) -- 08/22/2019 -- The global plastic protective packaging market is predicted to gain growth due to key driving factors such as high demand for packaged goods, increased consumer spending on packaged goods, and continuous development in technology. High global manufacturing output could be another factor fueling the growth of the global market. Players are anticipated to acquire other businesses to expand their footprint and achieve a position of strength in the global market.
In May 2019, RADVA, a US provider of temperature-sensitive and protective foam packaging solutions, was acquired by Huntington Solutions, a US-based manufacturer of custom-engineered expanded polypropylene and expanded polystyrene molded foam solutions. The acquisition will help Huntington to improve its cold chain capabilities and offerings.
Key Trends of Global Plastic Protective Packaging Market
? Continuous growth of the e-commerce sector is foretold to augment the demand for plastic protective packaging
? Manufacturers are developing the plastic properties of their products to contribute to reduced waste and environmental protection and thereby attract more consumers
? With a view to offer products that complement the unique physical properties of goods, manufacturers are prophesied to take a one-size-fits-all approach and develop important characteristics of their offerings
? Availability of cost-effective products and easy-to-use designs is anticipated to increase the demand in the global plastic protective packaging market
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By Material Type
? Air Cushion
? Plastic Mailer
? Bubble Packaging
? Dunnage Bags
? Shrink Wrap
? Stretch Hood
? Stretch Wrap
According to analysts, stretch wrap is expected to gain higher demand in the global plastic protective packaging market due to key factors such as development of machinery technology and improvement in resin strength.
By Region
Europe is foreseen to take the lead in the global plastic protective packaging market because of the increase in the number of online retailers with the growing interest in e-shopping. The need to open more online stores to meet the rising demand from consumers is expected to further push the growth of the Europe market.
Important Points to Remember
? Increasing consumer inclination toward online shopping is expected to drive the global market growth
? The segment of stretch wrap is predicted to show higher adoption in the coming years
? Europe could lead the global plastic protective packaging market during the forecast period
? New product launches and acquisitions could be commonly observed in the global plastic protective packaging market
Rivalry between Players Based on Product Demand and Innovation in Technology
Some of the major companies operating in the global plastic protective packaging market are Berry Global Group, Inc., AEP Industries Inc., Intertape Polymer Group Inc., and Smurfit Kappa Group. The global market also witnesses the presence of emerging companies such as Sealed Air Corporation, Signode Packaging Systems Corporation, Buergofol GmbH, Winpak Ltd., Kuplast Matejka Kumar S.P., Kureha Corporation, Allfo Vakuumverpackungen Hans Bresele KG, PREMIUMPACK GmbH, Coveris Holdings S.A., Flexopack S.A., and Schur Flexibles Group. Companies are expected to compete on the basis of distribution network, regulatory compliance, technological innovation, and product demand.
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