According to Future Market Insights, the global dunnage packaging market will grow at a CAGR of 5.8% from 2016 to 2032, surpassing US$6.8 billion. The tendency of rising inter-oceanic trade and increased import exports between countries have aided the expansion.
Along with the safe delivery of goods and services, product shipment requires proper security and protection. These dunnage packing solutions are useful for securing and safeguarding things while in transit, as well as a low-cost way to avoid damage to goods.
As a result, end-users are attempting to gain a competitive advantage in the worldwide market by expanding their geographic reach through import and export, or by building a distribution center that generates dunnage packaging sales. As a result, dunnage packaging producers are benefiting from improved specs and quality, ensuring that customers are satisfied with the protection of their products. This is projected to improve the demand for dunnage packaging.
The most important findings from the market for dunnage packaging
- The plastic dunnage packaging market is expected to continue to lead by material, accounting for roughly 25% of demand in 2032.
- During the projection period, airbags for dunnage are expected to hold a high market share in the product segment.
- The automotive category is expected to grow at a CAGR of 4.8 percent between 2022 and 2032, according to end-use industries.
- By the conclusion of the forecast period, North America and Europe will account for almost 55% of the worldwide dunnage packaging market.
- The usage of dunnage packing by packers and shippers is expected to stimulate demand for dunnage packaging in rising economies such as China, India, and others.
Manufacturers, distributors, resellers, and carriers will benefit from the usage of dunnage packing in freight transportation by reducing losses due to product damage during transit. According to an FMI analyst, “the necessity for dunnage packaging to maintain safety by reducing the impact of cargo movement will generate a development opportunity for key producers.”
Overview of the Dunnage Packaging Market
Some of the leading companies in the target market are Corplex (DS Smith), ORBIS Corporation (Menasha Corporation), UFP Technologies Inc., and NEFAB GROUP. In addition, major players in the market include Reusable Transport Packaging, Amatech Inc., GWP Group, Ckdpack, MJSolpac Ltd., and Interior Packaging Design LLC. Tier 1 businesses dominate the market, accounting for 15-20% of the total dunnage packaging market.