The global dunnage packaging market size is expected to surge at a CAGR of 5.9% in the estimated time frame from 2023 to 2033. The market value is projected to increase from US$ 4.1 billion in 2023 to US$ 7.3 billion by 2033. It was valued at US$ 3.9 billion at the end of 2022.
Shipping of products needs proper safety and protection along with secure delivery of goods and services. As these dunnage packaging solutions are useful for securing and protecting the products while in transit as well as an economic way of preventing damage to goods.
Hence, end users are trying to dominate the global market by increasing their geographic reach through import-export or establishing a distribution hub that builds sales of dunnage packaging. Hence, manufacturers of dunnage packaging are leveraging better specification and quality that provides customers satisfaction regarding their product protection. This is expected to boost the dunnage packaging market.
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Key Takeaways from Dunnage Packaging Market
- By material, the plastic dunnage packaging segment is anticipated to remain the leading segment, accounting for around 25% of the demand share in 2032.
- The dunnage airbags under the product segment are estimated to hold a significant share of the market during the forecast period.
- Based on the end-use industry, the automotive segment is projected to register a CAGR of 4.8% during 2022-2032.
- North America and Europe cumulatively will account for nearly 55% of the global dunnage packaging market by the end of the forecast period.
- Demand for dunnage packaging is anticipated to propel in developing economies such as China, India, and others due to the use of dunnage packaging by packers and movers.
“Use of dunnage packaging in transporting cargo will aid manufacturers, distributors, resellers, and shippers to reduce losses caused due to product damaged in transit. Need for dunnage packaging to ensure safety by decreasing the impact of load shifting will create growth opportunity for the key manufacturers”- says an FMI analyst.
Dunnage Packaging Market Landscape
- Corplex (DS Smith),
- ORBIS Corporation (Menasha Corporation),
- UFP Technologies Inc.,
- NEFAB GROUP,
are some of the top players operating in the target market. Furthermore,
- Reusable Transport Packaging,
- Amatech Inc., GWP Group,
- Ckdpack, MJSolpac Ltd., and
- Interior Packaging Design LLC,
are also noticeable players in the market. The tier 1 players in the market hold 15-20% of the overall dunnage packaging market.
Dunnage Packaging Market by Category
- Others (Fabric, Rubber)
- Dunnage airbags
- Packaging Peanuts
- Others (Bubble Wraps, etc.)
By End Use Industry:
- Food and Beverage
- Consumer Goods
- Logistics & Transportation
- Others (Personal Care & Cosmetic, Homecare, etc.)