U.S. protective packaging market to grow 4.48% by 2019
According to the report, the demand for protective packaging is expected to grow because of an increase in its usage in e-commerce.
Research and Markets has announced the addition of the “Protective Packaging Market in the US 2015-2019” report .
The analysts forecast the Protective Packaging market in the United States to grow at a CAGR of 4.48 percent over the period 2014-2019.
Protective packaging involves packaging solutions that provide protection and help in preserving consumer and industrial products, equipment, and machineries from any damaging effects during shipping and storage. Vendors in the market provide innovative protective packaging solutions to various industries such as Automotive, Consumer Electronics, Appliances, Pharmaceutical, and Retail to transport products safely to their destinations.
One of the major trends emerging in the market is increased investment in R&D to develop environment-friendly and sustainable packaging materials. Vendors are investing in innovative technologies to develop packaging materials that can be recycled and reused.
According to the report, the demand for protective packaging is expected to grow because of an increase in its usage in the Online Shopping industry. The growing popularity of online shopping and the adoption of protective materials for packaging are expected to have a favorable influence on the Protective Packaging market in the US.
Further, the report states that the rise in raw material costs is a major key challenge for the Protective Packaging market in the US. Leading vendors have increased the prices of their products to offset the effect of the rising costs of raw materials.
By Modern Materials Handling Staff
August 05, 2015