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New York, Sept. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Dunnage Packaging Global Market Report 2022” – https://www.reportlinker.com/p06319506/?utm_source=GNW
, MJSolpac Ltd., Rehrig Pacific Company, Ckdpack, GWP Group, Interior Packaging Design LLC., Packaging Corporation of America, Dunnage Engineering, Salco Engineering and Manufacturing Co. Inc., KEENER Corporation, Package Design & Mfg, JIDA Industrial Solutions, Artisanz Fabrication and Machine LLC., Dordan Manufacturing Company, PolyFlex Products Inc, Thermoflex LLC, Brown Machine LLC, Sohner Plastics LLC, Sonoco Products Company, Great River Plastics LLC, and Electro-General Plastics Cor and Rohrer Corporation.
The global dunnage packaging market is expected to grow from $2.99 billion in 2021 to $3.25 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The dunnage packaging market is expected to grow to $4.18 billion in 2026 at a CAGR of 6.5%.
The dunnage packaging market consists of sales of dunnage packaging products by entities (organizations, sole traders, and partnerships) that are used to provide cushioning and protection to packaged commodities by ensuring maximum safety during logistics.Dunnage packaging refers to the packaging of commodities such as food and beverages, healthcare, consumer durables, and others with corrugated plastics, fabric, molded plastic, wood, foam, and other materials that prevent damage to goods in the container or in carrying vehicles during transportation.
It helps to keep goods in a particular place during the process of logistics.
The main types of dunnage packaging are dunnage air bags, inserts, dividers, packaging peanuts, and other product types.The dunnage airbag market refers to packaging that uses small airbags for dunnage packaging for filling void spaces and making goods intact while transiting.
Dunnage airbags are small plastic bags filled with air that provide a cushioning effect during the logistics of small items. The various types of materials include corrugated plastic, molded plastic, foam, steel, aluminum, wood, fabric dunnage, corrugated paper, and others that are used in several industries such as automotive, aerospace, electronics, food and beverages, consumer durables, healthcare, and others.
North America was the largest region in the dunnage packging market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the dunnage packging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The dunnage packaging market research report is one of a series of new reports that provides dunnage packaging market statistics, including dunnage packaging industry global market size, regional shares, competitors with a dunnage packaging market share, detailed dunnage packaging market segments, market trends and opportunities, and any further data you may need to thrive in the dunnage packaging industry. This dunnage packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in the logistics sector is significantly contributing to the growth of dunnage packaging.Logistics is the transportation of goods from one place to another in a protected manner.
Dunnage packaging is commonly used in logistics due to its various advantages, such as shock-absorbing properties, cushioning and padding of commodities packed, moisture protection, easy handling of heavy items, air circulation, and others that protect sensitive items from filling void spaces and making goods intact in transit. For instance, in 2020, according to the Council of Supply Chain Management Professionals, a US-based council, the United States business logistics costs (USBLC) stood at around 7.4% of the gross domestic product (GDP), which was $20.94 trillion. Additionally, in e-commerce, purchases have grown by 33% to $792 billion as compared to the year 2019, which represents a total of 14% of the retail sector. E-commerce provides the logistics of commodities or products picked up in stores. Therefore, the rise in the logistics sector is driving the growth of the dunnage packaging market.
New product innovation is the key trend gaining popularity in the dunnage packaging market.Organizations providing dunnage packaging are increasingly focusing on developing new packaging solutions that could give better solutions and services to various industries operating in the logistics business.
For instance, in May 2021, ORBIS Corporation, a subsidiary of Menasha Corporation, a US-based company operating in dunnage packaging solutions, reusable plastic containers, pallets, and bulk systems for logistics, launched its smoothest and finest fabric material for dunnage packaging called PolySilk.PolySilk is a non-woven lightweight fabric material for dunnage packaging that has been added to the ORBIShield textile materials portfolio.
It provides a cost-effective single reusable dunnage packaging solution for the packaging and transportation of light-weighted materials such as chrome, extra-delicate class-A components, and painted parts.
In February 2020, Nefab AB, a Sweden-based company operating as an industrial packaging provider, acquired Szkaliczki & Partners Holding Ltd for an undisclosed amount.Through this acquisition, Nefab AB aims to strengthen its product portfolio in packaging and logistics, which would lead to gaining a leadership position in the packaging market.
Szkaliczki & Partners Holding Ltd. is a Hungary-based company operating in packaging solutions.
The countries covered in the dunnage packging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06319506/?utm_source=GNW
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