"Overview of Bubble Wrap Packaging Market"
Bubble Wrap Packaging Market Was valued At USD $ 2.5 Bn In 2018, and It Is Projected to Witness a CAGR Of 3% During The Forecast Period 2019-2027.
There are several packaging options available across the globe, and the demand for bubble wrap packaging is expected to remain high among all alternatives. This is mainly due to its benefits over other alternatives available in the market. Apart from this, the booming retail industry is one of the main factors expected to drive the growth of the bubble wrap packaging market. Bubble wrap is widely used in the retail sector to package delicate products such as phones, gifts and other objects at the time of transportation.
The rapid growth of online shopping has also boosted the growth of the flexible packaging market. Major market players are focusing on various initiatives to reduce pilferage during the transport of goods. This, in turn, has a significant impact on the demand for bubble wrap packaging across the globe. On the other hand, the easy availability of cheaper bubble wrap alternatives is expected to impede the growth of the bubble wrap market. In addition to this, the bubble wrap is made from plastics and the strict government regulation related to the use of plastics is another factor that dampens the prospects of the market during the forecast period.
Rise In The Popularity Of E-Commerce Industry Fueling The Demand Of Global Bubble Wrap Packaging Market.
E-Commerce Industry Had Accounted For a Significant Share of Xx% in 2018 and Is Expected To Remain Dominant during the Forecast Period
The retail market is undergoing massive transformations in various industries, be it hypermarkets or e-commerce retail. Manufacturers and retailers are spending and putting a tremendous amount of effort into their goods to reach high-performance targets. Faulty packaging can impact consumer choice for a lifetime. For retailers, the effect of defective goods on the bottom line would result in a loss of thousands of dollars. However, bubble wrap packaging ensures product safety and leads to positive customer experience. In addition to this, the increase in the use of mobile and low-cost data has fueled growth in the e-commerce market. This is expected to drive the growth of the bubble wrap packaging market across the globe.
By Application, Electronics & Electrical Segment Held The Maximum Share Of The Global Bubble Wrap Packaging Market.
Consumer electronics and appliances emerged as the dominant market segment in 2018, which can be attributed to an increase in online product sales across various e-commerce websites. Electronics require good quality of packaging as these are fragile and directly affect the market for air cushion packaging solutions. High growth in the electrical and electronics industry in the future is expected to boost the growth of the bubble wrap packaging market during the forecast period (2019-2027).
The Asia Pacific Is Expected To Remain a Prominent Region In Terms Of Market Share, Accounting For More than Half of the Global Bubble Wrap Packaging Market
Asia Pacific accounted for the maximum share of XX% of the global bubble wrap packaging market in 2018 and is expected to remain dominant during the forecast period. Geographically, Asia Pacific is expected to dominate the global market for bubble wrap packaging during the forecast period. This is mainly due to the increasing penetration of the Internet in the continent. The booming e-commerce industry, coupled with rising consumer’s purchasing power, especially in India and China, is offering a major boost to the global bubble wrap packaging industry.
The bubble wrap packaging market is moderately consolidated with some key local players along with big manufacturers across the globe. There are some of the key players in the global bubble wrap packaging market driving the growth of bubble wrap packagings such as Pregis Corporation, FROMM Packaging Systems, Polyair Inter Packaging, Free-Flow Packaging International, Inc., Automated Packaging Systems, Inc., Omniverse Foster Packaging Group and Inflatable Packaging, Inc.
In addition to this, players/manufacturers are focusing on various strategies such as acquisitions and mergers, company expansions and partnerships, to increase their dominance in the bubble wrap packaging market.
Bubble Wrap Packaging Market Segmentation:
Global Bubble Wrap Packaging Market by Product Type
- Bubble sheets
- Bubble bags/mailers
Global Bubble Wrap Packaging Market by Material
Global Bubble Wrap Packaging Market by End-use Industries
- Manufacturing & warehousing
- Electronics & Electricals
- Automotive & Allied industries
- Food & Beverages
- Cosmetic & Personal Care
- Logistics & Transportation
Global Bubble Wrap Packaging Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa