Global Suspension & Retention Packaging Market: Introduction
With the growing cross border trade activities, protective packaging has gained immense prominence among the end users. The need for suspension & retention packaging is driven by the rising demand for packaging type that keeps the product safe during transit. Suspension & retention packaging not only protects the product but also provides excellent presentation, versatility and space savings. The packaging type also minimizes the impact resistance to a great extent. Since the packaging market is highly competitive and to stay upfront on the competitive front, manufacturers are using suspension & retention packaging for excellent visibility and display of the packaged product.
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Global Suspension & Retention Packaging: Market Dynamics
Ecommerce packaging requires packaging that not only protects the product during transit but also gives it a visual aesthetic appeal. Thus, rising ecommerce activities is the major factor facilitating the growth of the global suspension & retention packaging market. The suspension & retention packaging also comprises of a retention frame that provides an additional cushioning to the heavy and fragile products. Another factor driving the growth of the global suspension & retention packaging market is the increased preference for packaging type that enhances the brand visibility of the product. The growth of the global suspension & retention packaging market is hampered by the presence of all other substitutes such as inflatable packaging etc. Inflatable packaging is gaining traction among manufacturers, retailers, and logistics service providers due to high level of protection at a low cost. It is considered as an environment friendly than other bulkier alternatives. Another concern hampering the growth of the global suspension & retention packaging market growth is the amount of waste generated which raises serious environmental concerns. Key trend prevailing in the global suspension & retention packaging market is the manufacturing of a one size fit all packaging type that allows the packaging of products of varying shapes and sizes. Manufacturing of suspension & retention packaging using bio based plastics is expected to reap in key opportunities of growth for the global market.
Global Suspension & Retention Packaging: Market Segmentation
The global suspension & retention packaging market is segmented on the basis of material type, packaging type, and geography.
On the basis of material type, the global suspension & retention packaging market is segmented into
- Corrugated Paper
- Kraft Paper
On the basis of packaging type, the global suspension & retention packaging market is segmented into –
- One piece Packaging
- Two piece Packaging
Global Suspension & Retention Packaging Market: Regional Outlook
On the basis of geography, the global suspension & retention packaging market is segmented into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. North America is expected to lead the global suspension & retention packaging market due to a high frequency of ecommerce sales thereby driving the demand of protective packaging solutions. Asia Pacific is expected to expand at the highest CAGR due to an increasing preference by consumers for online shopping in key economies such as India and China. Europe suspension & retention packaging market is expected to expand at a moderate CAGR while Latin America along with Middle East & Africa are expected to witness growth at a sluggish pace.
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Global Suspension & Retention Packaging Market: Key players
Some of the key players operating in the global suspension and retention packaging market are Sealed Air Corporation, Protega Global, Topa Verpakking BV, A E Sutton Limited, Secure Pak Packaging Inc., Alta Packaging, Inc., Samuel Grant Packaging, Coral Packaging Inc., and Get Packed Pty Ltd.