DUNNAGE PACKAGING MARKET TO REACH USD 4.5 BILLION BY 2027 | CAGR 5.4% – FORENCIS RESEARCH

Dunnage Packaging MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Dunnage Packaging Market: Key Highlights

  • According to the new market research report Dunnage Packaging Market by Material Type (Corrugated Plastic, Molded Plastic, Aluminum, Steel, Foam, Fabric, Corrugated Paper, Wood, Others), by End User (Automotive, Aerospace, Electronics, Food & Beverages, Consumer Durables, Healthcare, Others),by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global dunnage packaging market is estimated to reach USD 4.5Billion by 2027 at a CAGR of around 5.4% during the review period.
  • Dunnage packaging is the durable packaging solution used to protect goods during shipping and unloaded.
  • This packaging solutions provide multiple sections, which can hold several parts at the time preventing individual packaging for each part.
  • Moisture protection, damage protection, and shock absorption are major benefits offered by the dunnage packaging.

Dunnage Packaging Market

Global Dunnage Packaging Market: Key Market Dynamics

  • Higher demand from the automotive industry to prevent damages to goods during transportation has expected to drive the market growth
  • Growing demand for sustainable and green packaging solutions on account of their cost-effectiveness as opposed to expendable packaging is expected to drive the market growth over the upcoming years
  • fluctuations in raw material prices owing to volatility in crude oil prices have posed a major challenge for the growth of market

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Global Dunnage Packaging Market: Regional Overview

  • North America

North Americadunnage packaging has anticipated to grow at a steady during the forecasted period. This has attributed to the growing demand for corrugated paper-based dunnage products from various industries, such as electronic, aerospace, and automotive, owing to their excellent load stabilizing capacity. Moreover, manufacturers in the region are focusing on strategic initiatives such as extensive R&D, product innovation, merger & acquisition, to increase sale and meet rising demand. For instance, in May 2018, ORBIS Corporation, a subsidiary of a U.S.-based plastic and corrugated packaging manufacturer, acquired Menasha Corporation, a U.S.-based returnable and dunnage packaging manufacturer, with an aim to expand its product portfolio.

  • Asia-Pacific

The Asia-Pacific is anticipated to witness the largest growth in dunnage packaging market during the forecasted period. This is attributed b-the rising demand for reusable packaging solutions from economies, including India and China, as these type of packaging ensures the safety of packaged products, partial sustainability, and cost-saving. The growing application of reusable packaging in the food & beverages, healthcare, and Fast-Moving Consumer Goods (FMCG) industries is likely to further propel the regional market. additionally, some other factors, including rising usage of multi-use packaging instead of single-use packaging solutions, ongoing industrialization, rising consumer awareness regarding green and sustainable packaging materials as well as reducing packaging wastage are anticipated to drive the product demand in the Asia Pacific

Global Dunnage Packaging Market: Key Players Overview

  • Liquibox:

Liquibox is one of the global leaders in liquid packaging and dispensing working in partnership with customers to deliver high-quality, innovative solutions that achieve sustainable performance. The company offers a wide product solution for beverage, liquid food, and non-food and is located across the globe. In February 2020, Liquibox acquired DS Smith’s flexible packaging and Worldwide Dispensers with an aim to increase its geographical reach across 21 location across the globe.

  • Menasha Corporation:

Menasha Corporation is engaged in manufacturing of corrugated and plastic packaging and its supply chain. The company has a strong geographical presence in more than 112 locations in North America and Europe. The company operated through business unit including Menasha packaging, and ORBIS Corporation. Menasha Corporation. In 2019, Menasha Corporation generated sale of USD 2 billion.

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Rep Id : PK 023

Published : 2020-02-20

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