Protective Packaging Market To See More Growth
- May 12, 2017-
The protective packaging market in the U.S. is expected to grow at a CAGR of 4.48% from 2014 to 2019, according to a new research report, "Protective Packaging Market in the US 2015-2019." Defined by the report, 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.
One of the major trends emerging in the market, the report notes, is increased investment in R&D to develop environmentally friendly and sustainable packaging materials. Vendors are investing in innovative technologies to develop packaging materials that can be recycled and reused.
Also 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 U.S.
Further, the report states that the rise in raw material costs is a major key challenge for the U.S. protective packaging market. Leading vendors have increased the prices of their products to offset the effect of the rising costs of raw materials.