The global dunnage packaging market size was valued at USD 4.00 billion in 2023. The market is projected to be worth USD 4.21 billion in 2024 and reach USD 6.65 billion by 2032, exhibiting a CAGR of 5.89% during the forecast period.
Dunnage packaging includes packaging materials that are intended to protect the products. The increase in the consumption of dunnage packages to safeguard shipments from moisture, damage, moisture, and shock absorption drives the market expansion. Fortune Business Insights™ mentions this in a report titled, “Dunnage Packaging Market Size, 2024-2032.”
List of Key Players Present in the Report:
ORBIS Corporation (U.S.), DS Smith (U.K.), Sonoco Products Company (U.S.), Corplex (France), NEFAB Group (Sweden), Dordan Manufacturing Company, Inc. (U.S.), Reusable Transport Packaging (U.S.), IPS Packaging & Automation (U.S.), Signode Industrial Group (U.S.), Amatech Inc. (U.S.), MJSolpac Ltd. (U.K.), Ckdpack (Canada), GWP Group (U.K.), Packaging Corporation of America (U.S.), Southern Packaging, LP (U.S.)
Segments
Growing Utilization of Plastic Material to Boost Segment Growth
By material, the market is classified into plastic, fabric, paper, metal, and others. The plastic segment is dominating the market and holds the largest dunnage packaging market share. The segment’s growth is attributed to the surging utilization of plastic material to support equipment and products owing to its durability and sturdy properties.
Inserts & Dividers Segment to Lead the Market as They Improve Productivity
By product type, the market for dunnage packaging is categorized into inserts & dividers, bags, racks, trays, pads & corners, and others. The inserts & dividers segment is dominating the market and is projected to witness rapid growth during the forecast period. The inserts & dividers improve the efficiency and productivity of the business, which further increases the parts & components protection while handling and transit and reducing related costs.
Growing Use of Dunnage Bags in the Automotive Industry to Boost Segment Expansion
On the basis of end-use, the market is categorized into automotive, shipping & logistics, aerospace & defense, electricals & electronics, food & beverages, healthcare, and others. The automotive segment is leading the market and is expected to witness rapid growth during the projected period. The surging use of dunnage bags, inserts, and pads in the automotive industry as it guarantees that customers receive undamaged products, protecting the quality, image, and final products of the brand.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Increasing Demand for Dunnage Products from the Automotive Industry to Augment Growth
The increasing demand for dunnage products from the rapidly growing automotive industry, owing to their sturdy nature and cost effectiveness, drives the dunnage packaging market growth. The market’s growth is driven by the surging demand for dunnage packaging products from the automotive sector owing to their decreased packaging waste and carbon footprints and improved inventory control.
However, the growing necessity for primary investments in the production of dunnage products impedes the market expansion.
Source- https://www.fortunebusinessinsights.com/dunnage-packaging-market-109814
Regional Insights
Well-established Automotive Sector Drive Market Growth in North America
North America is leading the global market with the presence of key market players and well-established automotive industry across North America.
Asia Pacific is the second region dominating the market owing to the rapid demand for lightweight packaging for electricals, electronics, and automotive components and parts, along with maintaining its structural integrity.
Competitive Landscape
Key Players are Offering Innovative Packaging to Maintain Competitive Edge
The key players in the dunnage packaging market include key players, such as ORBIS Corporation, DS Smith, and others. These companies are offering innovative packaging solutions to maintain a competitive edge in the packaging industry, further augmenting market expansion.
Key Industry Development
December 2023 – Kite Packaging launched eco-friendly dunnage bags for sustainable cargo transit. These new dunnage bags are the preferred choice to secure the goods into place, fill voids, decrease the risk of damage and breakage, and improve customer satisfaction.