"Overview of Packaging Peanuts Market"
Peanut Packaging Market Was Estimated At USD XX Mn in 2018 and Is Expected To Witness A CAGR Of 5.2 % During The Forecast Period (2019-2027)
Peanut packaging has emerged as a key segment in packaging solutions available in the market. Packaged goods are protected by a range of safe packaging solutions, such as die packing inserts, electrostatic discharge (ESD) foams, cutting inserts, peanut packaging, etc. Various benefits offered by packaging peanuts are expected to boost the growth of the packaging peanuts market.
With the growing e-commerce market, the demand for protective packaging solutions such as packaging peanuts is increasing enormously. The key benefits provided by packaging peanuts include shock safety, efficient packaging, versatile packaging and storage, cost-effective empty packing and biodegradable disposal, among others. Substantial growth during the forecast period is expected to increase significantly as a result of demand for cushioning and empty packaging of valuable goods during storage and transport. Shipping fragile products require constant shock protection, or even biodegradable packing peanuts act as a protective solution.
The packaging peanuts are also non-toxic if consumed by error and are suitable for pets and humankind. These peanuts are packaging based on starch, not petroleum. The eco-friendly nature of packaging peanuts also boosts the growth of the peanut packaging market.
Despite these advantages, it has some disadvantages over the forecast period that may hamper the growth of the global biodegradable peanuts packaging. As biodegradable peanuts are items reliant on starch, it can be edible. So they can attract bugs and rodents. The cultivation often costs more than polystyrene-based peanuts and in such a struggling economy, clients often choose lower costs over more environmentally sound, expensive alternatives. These factors are anticipated over the forecast period to hamper the global market for biodegradable peanuts manufacturing.
Starch-Based Packaging Peanuts Held Maximum Share of Packing Peanuts Market across the Globe
Packaging peanuts produced by extrusion of a starch substrate, preferably regular wheat starch are gaining traction as these are eco-friendly in nature. End-users prefer biodegradable products and moreover, manufacturers are also investing in product innovation to provide products as per the client’s requirement. High awareness among consumers about eco-friendly packaging alternatives is expected to boost the growth of starch-based packaging peanuts market during the forecast period (2019-2027).
Electrical and Electronics Had Accounted For A Significant Share Of Global Packaging Peanuts Market
Electrical and Electronics had accounted for a significant share of xx% in 2018 and is expected to remain dominant during the forecast period. The growing demand of consumer electronic goods over the past few years has boosted the growth of packaging peanuts. Also, the availability of peanuts at relatively low cost is expected to boost the growth of the market.
Asia-Pacific Market Is Predicted To Witness A Lucrative Growth In Global Packing Peanuts Market During The Forecast Period 2019-2029.
The APAC region is predicted to witness lucrative growth in the global market for biodegradable peanut packaging due to the government's standards and regulations against the use of plastic products. Throughout the last decade, there has been a global push for sustainable packaging solutions.
The regions with North America and Western Europe are expected to see positive growth over the forecast period. For goodness sake, the United States has different policies, ranging from different recycling programs to state-wide moratoriums. In Canada, retail stores such as Walmart charge money for plastic bags
Only several key players in the global packaging peanuts market are Sealed Air Corporation, Smurfit Kappa Group, Foam Fabricators Inc., Heritage Pioneer Group, Void Fill Packaging, ACH Foam Technologies, Puffy Stuff Inc., FP International, and others.
Packaging Peanuts Market Segmentation:
Global Packaging Peanuts Market by Material Type:
- Expanded Polystyrene
- Plants Starch
- Corn Starch
Global Packaging Peanuts Market by End-use Industry
- Food & Beverages
- Personal care
- Electrical & Electronics
- Automotive & Allied Industries
Global Packaging Peanuts Market by Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa