Dunnage Packaging Market Worth USD 6.2 Billion by 2030 at 5.5% CAGR - Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Dunnage Packaging Market Insights and Industry Analysis by Material Type (Corrugated Plastics, Molded Plastics, Aluminum, Steel, Fabric Dunnage, Corrugated Paper, Wood, Foams and others), End-Use Industry (Automotive, Aerospace, Electronics, Food & Beverages, Consumer Goods and Healthcare) and Region, Competitive Market Size, Share, Trends, and Forecast 2030
New York, USA, July 04, 2022 (GLOBE NEWSWIRE) -- Dunnage Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Dunnage Packaging Market Information by Wall Construction, End User, And Region - Forecast till 2030”, the market is estimated to grow at a 5.5% CAGR to reach USD 6.2 Billion by 2030.
Market Synopsis
Dunnage packaging refers to packaging solutions that protect products transported and unloaded from damage. Dunnage packaging solutions have several portions that can hold multiple pieces at once, eliminating the need for individual packing. Since so many goods are moved from one location to another daily, the dunnage packaging market will likely increase significantly throughout the forecast period.
Apart from damage prevention, Dunnage packaging has several other advantages, including flexibility in design and innovation, cost-effectiveness, environmental friendliness, optimum cushioning, and resistance to external heat and abrasive conditions. As a result, end-use industries like construction, food and beverage, automotive, and electronics benefit greatly from dunnage packaging. The increase in e-commerce and the retail sector is another factor driving the dunnage packaging market. Low priority cargo is also referred to as dunnage. Because so many goods are moved from one location to another daily, the Dunnage Packaging market will likely increase significantly throughout the forecast period.
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Wall Construction, End User and Region
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
The heat regulation and eco-friendly nature of the package make its use prevalent
The penetration of eCommerce sites is another important factor
Market Competitive Landscape:
The central contenders in the dunnage packaging market are:
UFP Technologies (US)
Amatech Inc. (US)
Reusable Transport Packaging (Florida)
Rehrig Pacific Company (US)
DS Smith (UK)
Myers Industries (US)
Menasha Corporation (US)
Schoeller Allibert (Netherlands)
Nefab (Sweden)
MJSolpac Ltd. (UK)
Market USP Covered:
Market Drivers:
The mounting preference for convenient and secure dunnage packaging solutions among end-users is likely to fuel demand for dunnage packaging and custom dunnage. Furthermore, public awareness of the excellent qualities of custom dunnage is fast growing. Such reasons have boosted the need for dunnage packaging materials, propelling the global dunnage packing market forward. Furthermore, dunnage packing materials like cardboard dunnage, foam dunnage, and honeycomb dunnage are critical solutions for advanced and secure packaging in important end-use industries, including automotive, food & drinks, and consumer goods. Additionally, dunnage packaging is crucial for more ecological and efficient packing. Another driving factor in the market is the rising need for environmentally friendly packaging, which will likely contribute to market expansion during the forecast period.
Due to the increasing demand for eco-friendly, 360-degree product safety properties, dunnage packaging is increasing in use in the automotive end-use industry. In the automotive business, dunnage packaging is utilized in various applications. This packaging aids in the creation of lightweight component packing while preserving structural integrity, saving handling and transportation costs.
Market Restraints:
The dunnage packaging market is restrained by high-cost investment, making it difficult for small-scale or new producers to compete, varied environmental conditions across the region, packaging compatibility in such areas, and government laws and regulations.
The global COVID-19 pandemic outbreak is predicted to have a significant impact on the dunnage packaging business. The pandemic caused substantial losses to both developed and developing countries worldwide, and many countries only allowed essential goods to be produced and sold during the pandemic. It is anticipated that the Dunnage Packaging market will slow down during the pandemic and grow progressively during the forecast period once the market is fully operational. To develop closed logistic systems with safe arrival and distribution locations, critical participants in the automobile sector use a reusable transport packaging solution. The need for returnable packaging is expected to expand due to its advantages, which include enhanced inventory control due to box monitoring, reduced packaging waste and carbon footprint, and the ability to safeguard valuable automobile parts due to packing rigidity.
Market Segmentation
By Product Type
The corrugated plastic category, also known as composite dunnage, accounted for the most significant proportion of the worldwide dunnage packaging market and is predicted to grow fastest during the forecast period.
By End-Use Industry
Due to the sheer significant expansion in the automotive aftermarket business, the automotive industry category held the most significant market share of the worldwide dunnage packaging market. As a result, dunnage packing for transporting automobile parts is highly demanded. The product is mainly used in automotive applications to move finished and semi-finished automobile parts and convey body parts from the vendor or component provider to the assembly parts. Short-distance and frequent transportation of oversized and high-volume items push automakers to use reusable products and solutions, which is expected to drive market expansion.
Asia-Pacific accounted for the highest proportion of the worldwide dunnage packaging market, trailed by North America and Europe, and is predicted to maintain dominance by 2025. One of the primary reasons to drive demand for dunnage packaging in the area during the projected period is the growing need for sustainable packaging in nations such as China and India. APAC is the world's largest and fastest-growing market for dunnage packaging. The automobile and electronics industries in the region are the most significant users of dunnage packaging. The region is the key market for dunnage packaging due to many manufacturers and intensifying R&D investments in product development and packaging material innovation. Furthermore, in contrast to the recycling of packing materials in the US and Canada, strict government requirements have fueled the demand for smart and innovative packaging in many end-use industries.
Customized dunnage solutions, on the other hand, are a capital-intensive procedure with a high set-up cost to set up an initial product manufacturing unit. Furthermore, rapid technical improvements have resulted in producing novel equipment that is expensive to purchase. Industry players with significant investment capacities are likely to enter the industry since the long-term return on investment is substantial.
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