The global dunnage packaging market size is projected to reach USD 4.8 billion by 2027 registering a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Dunnage packaging is extensively used in end-user industries, such as aerospace, food & beverage, consumer durables. These industries implement a custom dunnage solution to modify the shape of the product/s packed, which not only safeguards the packed product but also helps in saving and optimizing the cargo space.
This type of packaging is predominantly used in automotive applications on account of the rising demand for eco-friendly and 360° product safety. Herein, corrugated paper- and foam-based packaging assist in preserving lightweight packaging while lowering the transportation and handling costs, and maintaining the structural integrity of automotive components.
On the basis of raw material, the corrugated plastic segment led the global market in 2019 and is projected to expand further at the fastest CAGR of 7.1% from 2020 to 2027. This can be attributed to the rising demand for the material as it is lightweight, highly durable, eco-friendly, and inexpensive. Corrugated plastic is extensively used in the electronics industry as the material can be molded into different sizes and shapes.
Asia Pacific is expected to be the largest as well as the fastest-growing regional market over the forecast years on account of rising product demand from the electronics, aerospace, and automotive end-use industries. Furthermore, rapid urbanization in countries, such as China, India, and Australia, has led to the increased consumption of FMCG, automotive, and consumer durable goods, which require dunnage packaging. This, in turn, will help boost the market growth.
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Dunnage Packaging Market Report Highlights
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Dunnage Packaging Market Segmentation
Grand View Research has segmented the global dunnage packaging market on the basis of raw material, application, and region:
Dunnage Packaging Raw Material Outlook (Revenue, USD Million, 2016 – 2027)
Dunnage Packaging Application Outlook (Revenue, USD Million, 2016 – 2027)
Dunnage Packaging Regional Outlook (Revenue, USD Million, 2016 – 2027)
List of Key Players of Dunnage Packaging Market
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About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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