According to Stratistics MRC, the “Global Dunnage Packaging” Market is accounted for $2.83 billion in 2018 and is expected to reach $5.20 billion by 2027 growing at a CAGR of 7.0% during the forecast period. Increasing urban population and rising demand for dunnage packaging from end-user industries are the major factors driving the market growth. However, the difficulty faced by small manufacturers and new entrants while investing in highly advanced equipment is restraining market growth.
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Dunnage packaging provides damage control to the products which are transported and unloaded. This packaging solutions offer numerous sections, which holds several portions while preventing singular packaging for each part. This packaging is extremely favorable and helpful in many industries.
Driver: Rising demand for dunnage packaging from various end use industries is driving the growth of the global dunnage packaging market.
Strong demand for dunnage packaging from enduser industries is likely to increase the demand in the long run. Dunnage packaging of materials is an essential solution that is tendingto major enduser industries for advanced and secure packaging. Also, dunnage packaging is a very significant development towards maintainable and efficient packaging. Further, global automotive industry is booming on the account of urbanization and increasing disposable income.
Opportunity: Rapid technological advancements, as well as improved production capacity, are offering plenty of opportunities for dunnage packaging market.
As the automobile sector is growing so heavily, manufacturers are focusing on this industry. Market players are investing in the manufacturing & warehousing field because of high demand for logistics and packaging, because of rapid developments among worldwide. Moreover, market players are setting their stakes in the medical field, due to high utilization of delicate components which need safe storage and transportation.
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By material, the corrugated plastic segment is anticipated to hold considerable market share during the forecast period as it is used in a many applications because of its low cost, adaptability, and simple accessibility and also it can be molded into different shapes and sizes.
By geography, Europe region is anticipated to hold considerable market share during the forecast period owing to high demand of this packaging solutions from many industries and presence of major companies who focus on the adoption of business strategies to improve the production of dunnage packaging and meet the demands from industries.
Some of the key players profiled in the Dunnage Packaging Market include UFP Technologies, SchoellerAllibert, Reusable Transport Packaging, Rehrig Pacific Company, Packaging Corporation of America, Nefab Group, Myers Industries, Mjsolpac Ltd., Menasha Corporation, Interior Packaging Design, LLC, Gwp Group, Dunnage Engineering, DS Smith, Ckdpack Packaging Inc., Amatech Inc., Artisanz Fabrication and Machine, LLC, Jida Industrial Solutions, Keener Corporation, Package Design & Manufacturing, and Salco Engineering & Mfg.
Menasha Corporation: In May 2019, Menasha corporation expanded health care/self-care center of retail excellence at walgreens. The new Health Care/Self Care “Center of Retail Excellence” will combine dedicated Walgreens-experienced project managers and new category data analysts with the Chicago-based Menasha/Walgreens design team.
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Nefab Group: In Aug 2017, Nefab Group signed an agreement with Speed Group to combine packaging and logistic expertise to the benefit of customers in Sweden and abroadthat will enable customers to have the right product at the right place and the right time. Together, Nefab and Speed Group, will be able to offer their customer improved logistic flows and complete packaging solutions that will have positive impact on their customer’s total costs and environmental impact.
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