PUBLISHER: The Business Research Company | PRODUCT CODE: 1392630
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392630
“Dunnage Packaging Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dunnage packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dunnage packaging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The dunnage packaging market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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.
The dunnage packaging market research report is one of a series of new reports from The Business Research Company 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 dunnage packaging market size has grown strongly in recent years. It will grow from $3. 56 billion in 2023 to $3. 84 billion in 2024 at a compound annual growth rate (CAGR) of 7. 9%. The growth in the historic period can be attributed to growth in global trade and logistics, increased emphasis on product protection during shipping, adoption of lean manufacturing practices, expansion of the automotive industry, advances in packaging materials and design.
The dunnage packaging market size is expected to see strong growth in the next few years. It will grow to $5. 24 billion in 2028 at a compound annual growth rate (CAGR) of 8. 1%. The growth in the forecast period can be attributed to rise in e-commerce and online retail, growing demand for sustainable packaging solutions, development of innovative and lightweight packaging materials, increased focus on supply chain optimization, expansion of the pharmaceutical and healthcare industry. Major trends in the forecast period include customization and personalization of dunnage packaging solutions, integration of automation in dunnage packaging processes, adoption of recyclable and biodegradable dunnage materials, emphasis on cost-effective and space-efficient packaging designs, collaboration between packaging providers and manufacturers for tailored solutions.
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 2023, according to the Council of Supply Chain Management Professionals, a US-based council, U. S. business logistics costs exceeded $2. 316 trillion in 2022, which equated to 9. 1% of the U. S. 's nominal gross domestic product. Additionally, e-commerce grew by 8% to $1. 03 trillion, which represents 14. 5% of the entire U. S. retail market. 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.
The expanding automotive industry is expected to propel the growth of the dunnage packaging market going forward. The automotive industry refers to a sector that involves various companies and organizations engaged in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. The automotive industry drives the demand for dunnage packaging by requiring protective solutions for delicate parts during shipping and ensuring their safe transport and assembly. Dunnage packaging plays an important role in preventing damage to automotive components, reducing costs, and improving the overall manufacturing process. For instance, in August 2023, according to the Board of Governors of the Federal Reserve System, a US-based government agency, car production in the United States increased to 11. 87 million units, up from 10. 91 million units in June 2023 . Furthermore, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based association, around 85. 4 million motor vehicles were produced worldwide in 2022, an increase of 5. 7% compared to 2021. Therefore, the expanding automotive industry 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.
Major companies operating in the dunnage packaging market are increasing their focus on introducing cost-effective solutions to gain a competitive edge. Cost-effective solutions in dunnage packaging refer to efficient and budget-friendly methods for securing and protecting items during transport or storage using minimal resources. For instance, in February 2023, Schaefer Plastics North America LLC, a US-based packaging company, launched a new dunnage product line called Threadless. Threadless dunnage is an excellent option for products that require high surface protection. The Threadless Dunnage product line is designed to save materials and reduce handling costs for customers who require part protection. This innovative custom dunnage alternative is designed to cradle parts and help protect against scratches and abrasions, making it perfect for products needing high surface protection, such as automotive and high-value cosmetic beauty products.
In June 2022, IPS Packaging & Automation, a US-based packaging company, acquired Day-Pak Inc. for an undisclosed amount. The acquisition is expected to help IPS Packaging & Automation expand its product offerings and strengthen its position in the market for industrial packaging solutions. Day-Pak Inc. is a US-based manufacturer and distributor of dunnage packaging materials and equipment for various industries, including automotive, aerospace, and medical.
Major companies operating in the in the dunnage packaging market report are ORBIS Corporation, Menasha Corporation, Schoeller Allibert AB, Myers Industries Inc., Nefab Group, UFP Technologies Inc., Reusable Transport Packaging, Amatech Inc., MJSolpac Ltd., Rehrig Pacific Company, Ckdpack, GWP Group Ltd., Interior Packaging Design LLC, Packaging Corporation of America, Dunnage Engineering, Salco Engineering & Manufacturing 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, Electro-General Plastics Cor and Rohrer Corporation, TriEnda LLC, Pregis Corporation, Sealed Air Corporation, Automated Packaging Systems Inc., Storopack Hans Reichenecker GmbH, Signode India Limited
North America was the largest region in the dunnage packaging market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dunnage packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the dunnage packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The dunnage packaging market consists of sales of bubble wrap, air pillows, Kraft paper, and corrugated paper. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.