The dunnage packaging market size is estimated to be USD 3.0 billion in 2019 and is projected to reach USD 4.0 billion by 2024, at a CAGR of 5.0% between 2019 and 2024. Advantages of dunnage packaging such as cost-effective, time-saving, environmentally friendly, reusable waste materials, durability, and resistance to fire, are resulting in an increasing demand for the dunnage packaging from various end-use industries such as automotive, aerospace, food & beverages, healthcare, consumer durables, and others.
The major dunnage packaging manufacturers are DS Smith (UK), Menasha Corporation (US), Schoeller Allibert (Netherlands), Myers Industries (US), Nefab (Sweden), UFP Technologies (US), Reusable Transport Packaging (Florida), Amatech Inc. (US), MJSolpac Ltd. (UK), Rehrig Pacific Company (US). These players have adopted various growth strategies, such as expansion, acquisition, agreement, investment and divestment to expand their presence in the market further. Expansion was the most commonly adopted strategy by the major players from 2016 to 2019, which helped them to increase their product offerings and broaden their customer base.
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DS Smith (UK) is a well-established company in the global dunnage packaging market. The company offers a high-quality, dunnage packaging. It is continuously engaged in providing high-grade, packaging. As a part of its growth strategy, it is focused highly on expansion, and acquisition. For instance, in March 2018, DS Smith Plastics opened a new manufacturing facility in Romeoville, IL, US. The new facility is the first rigid packaging manufacturing operation of DS Smith in North America. This strategic initiative is expected to enhance the company’s position in the region in response to the rising demand for its rigid packaging products in the US.
Schoeller Allibert (Netherlands) is another major player of the dunnage packaging market. It is one of the global leaders in the design, manufacture, and supply of dunnage packaging. As a part of its growth strategy, the company strives to increase its profitability and provide quality products to long-term strategic customers. As a part of its growth strategy, it focuses on expansion, and investment. For instance, in May 2016, Schoeller Allibert expanded its operations in Europe by opening a new production plant in Zabrze, Poland. The new plant manufactures a full product portfolio for customers in the CEE region, comprising brand new EuroClick, an ultra-versatile crate specifically developed for automotive market.
Dunnage Packaging Market by Material (Corrugated Plastic, Molded Plastic, Steel, Aluminum, Foam, Corrugated Paper, Wood, Fabric Dunnage), End-Use Industry, Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2024
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