The global Dunnage Packaging Market is growing at a rapid pace. Dunnage packaging is primarily used for product damage control during transport and stocking. Dunnage packaging solutions provide multiple sections, which can hold several parts to prevent individual packaging for each part. The global market for dunnage packaging has been witnessing moderate growth in the past couple of years.
Dunnage Packaging Market – Competitive Analysis
The dunnage packaging market appears to be highly competitive due to several large and small players. Well-established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a larger competitive share in this market and maintain their market position.
They compete based upon pricing and product service. They strive to offer a customized product portfolio designed to meet specific customer objectives and a broad range of services, from assembly to packing, with state-of-the-art service centers.
Major Players:
Players leading the global dunnage packaging market include Myers Industries (US), DS Smith (UK), Menasha Corporation (US), Nefab (Sweden), Schoeller Allibert (Netherlands), UFP Technologies (US), Reusable Transport Packaging (Florida), Amatech Inc. (US), Rehrig Pacific Company (US), and MJSolpac Ltd. (UK), among others.
Increasing preference for secure and convenient dunnage packaging solutions among the end-users drives the market demand. Besides, the rapidly increasing awareness regarding the superior characteristics of custom dunnage pushes the market's growth. Spurring rise in end-user industries, such as food beverages, automotive, pharmaceuticals healthcare, and consumer goods, contribute to the growth of the market.
With the increasing demand for environment-friendly packaging that can also meet changing consumer preferences, the market is forecasted to witness significant traction in the years to come. In this regard, Market Research Future (MRFR) asserts that the global dunnage packaging market is poised to grow at a phenomenal CAGR during the review period (2020-2027).
The growing automotive industry offers great opportunities for this market. However, most flexible packaging, such as bubble dunnage or poly mailers made of LDPE, is extensively used in eCommerce applications. Therefore, the rise in eCommerce business activities creates substantial dunnage packaging market demand.
Dunnage Packaging Market – Segments
The market is segmented into material type, end-use industry, and regions. The material type segment is sub-segmented into corrugated plastics, molded plastics, aluminum, steel, fabric dunnage, corrugated paper, wood, foams, and others. Among these, the corrugated plastic/ composite dunnage segment holds the largest market share. The segment is also expected to witness the highest CAGR during the forecast period.
The end-use industry segment is sub-segmented into aerospace, automotive, electronics, food beverages, consumer goods, healthcare, and others. Among these, the automotive industry segment holds the largest market share witnessing vast uptake in the rapidly growing automotive aftermarket industry. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.
Global Dunnage Packaging Market – Regional Analysis
The Asia Pacific region dominates the global Dunnage Packaging Market Share. Factors such as the rapidly growing industrialization and manufacturing activities and end-user industries boost the dunnage packaging market size. Rapidly expanding consumer markets and abundantly available natural resources are the major factors driving the market in this region.
Moreover, the growing demand for sustainable packaging in countries such as China and India increases the region's dunnage packaging market share. China and India account for the largest share in the regional market, witnessing the increasing demand from food beverage and consumer goods.
North America is another lucrative market for dunnage packaging solutions. The market growth attributes to the growing RD investments for product development and innovation of packaging materials.
Additionally, stringent government regulations for recycling packing materials propel the demand for smart and innovative packaging in the various end-use industries. Furthermore, the increasing demand and focus on developing low-cost dunnage packaging options are key factors accelerating the market growth. The US and Canada account for the largest markets for dunnage packaging.
The European Dunnage Packaging market is growing rapidly, heading with the increased awareness about sustainable packaging and a strong industrial base. Besides, the continually rising economy of this region and demand for packaged food beverages drives the dunnage packaging market growth.Increasing needs to reduce packaging waste, and demands for bulk transportation are major dunnage packaging market trends.
Industry/ Innovation/ Related News
May 11, 2021— ORBIS Corporation, an international leader in reusable packaging, announced adding new fabric PolySilk to its dunnage offerings for optimal protection of delicate automotive. The new nonwoven center fabric material is ideal for soft divider sets, hanging bags used for lightweight parts, and extra-delicate Class-A components, chrome and painted parts.
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