Global Waterproof Packaging Market Growth Projections and Insights
The global waterproof packaging market is projected to grow from USD 65.43 billion in 2023 to USD 105.27 billion by 2034, reflecting a compound annual growth rate (CAGR) of 4.54% from 2024 to 2034.
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Key Trends and Findings
There’s a growing trend toward locally sourced products, particularly in countries like India and China. Waterproof packaging is becoming essential for shipping machinery, electronics, and other items that are susceptible to moisture damage. When combined with other shipping options, this packaging ensures that goods remain safe during transportation.
Minimalistic packaging is also on the rise. A recent study by DS Smith revealed that 43% of consumers are frustrated by excessive packaging and would prefer waterproof (30%) and more fitting packaging for oddly shaped items (32%) in the future. Additionally, large boxes filled with unnecessary extras are causing about 5 million extra delivery trips, leading to the release of 86,071 tonnes of potentially avoidable CO2 emissions each year.
Eco-friendly packaging continues to gain popularity. It not only helps protect the environment but also boosts a company’s image and competitive edge. Many companies are now using recycled, biodegradable, and compostable materials as consumer concern about waste grows.
The e-commerce sector has seen rapid growth in recent years, leading to a greater demand for packaging materials. The pandemic has shifted consumer behavior, and now customers have higher expectations for e-commerce packaging, including the user experience, return policies, and product delivery. To thrive in this expanding market, businesses need to ensure their packaging not only protects the product but also provides a positive, satisfying experience that encourages repeat purchases.
In 2023, North America accounted for 25.33% of the market share, driven by strong demand from industries like e-commerce, food and beverage, and healthcare, along with strict packaging sustainability regulations. The Asia-Pacific region is expected to grow at the fastest rate (6.20% CAGR) during the forecast period due to rapid urbanization, increased consumption of packaged goods, and rising disposable incomes, particularly in the electronics sector.
Recent Developments by Key Market Players
In November 2023, JBM Packaging launched Hydroblox, an environmentally friendly waterproof packaging paper. It’s 200% more water-resistant than regular 24-pound white wove paper and FDA-approved for food products. However, its applications go beyond perishable goods, including camping gear, outdoor products, personal care, cosmetics, art supplies, and pet items.
In May 2022, Smurfit Kappa introduced a new water-resistant, eco-friendly paper. The AquaStop paper, part of the TechniPaper portfolio, features a unique coating that makes it resistant to water while still being fully recyclable, unlike other water-resistant papers. This innovation helps manage even the most complex supply chains.
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