Bubble Wrap Packaging Market Research Report – Global Forecast till 2025
As mentioned in the reports of Market Research Future, the global bubble wrap packaging market is ready to garner at a CAGR of 7.84%, while reaching a market size of USD 12,299.2 Million by 2025. All the figures and latest research is for the forecast period of 2017–2025.
Top Market Drivers & Challenges
The global bubble wrap packaging market will be witness substantial growth during the forecast period as there has been a steep surge in online shopping, which has encouraged the bubble packaging for the safety of the product. In fact, the growth of the electronics industry and the availability of biodegradable bubble wrap has also driven the market to expand at a higher rate.
At the same time, the benefits of online shopping, such as easier return policies, faster delivery, and free shipping, have made many customers switch from the traditional methods of shopping. The strong consumer demand for a wide variety of products and the availability of different kinds of goods, drive the growth of online shopping and also motivating the packaging market as well at the same level. In the current time, consumer electronics is the top-selling category owing to the growth in the number of online electronics models, which is further motivating the global market for the bubble wrap packaging market.
The feature of bubble wrap packaging such as protective, facilitates easy storage and production of fragile goods are also essential factors motivating the bubble wrap packaging market to expand more than the before and gain more valuation during the forecast period. Besides, there has been a sturdy escalation in income levels, mainly in developing nations, which results in high disposable income among individuals, thus creating immense opportunity for the market to attain more valuation in the foreseeable years.
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As per MRFR’s reports, the global bubble wrap packaging market’s segmental analysis has been conducted by the elements of product and application.
In terms of product: High-grade bubble wraps, general grade bubble wraps, temperature-controlled bubble wraps, limited grade bubble wraps, and others are the segments. Among which, the high-grade bubble wraps segment is leading the market, as it has stronger bubbles that help in cushioning the products and provides a high amount of security to make them stay in place during transit.
In terms of application: E-commerce, automotive and allied industries, consumer goods, pharmaceutical, food and beverages, personal care, and others are the segments. Among these, the e-commerce segment will be leading the market, owing to the continually growing automotive industry. The industry is thus helping to reduce damages and ensure safe working conditions for handlers by effectively packaging all mechanical or automotive parts.
Region-specific analysis of the bubble wrap packaging market spans across the key regions of North America, Europe, Asia-Pacific (APAC), South America, and the Middle East & Africa.
Among these regions, Asia-Pacific might lead the bubble wrap packaging market during the study period. The growth in this region owes to the amplified growth in the e-commerce and automotive industry. Over the years, it is pragmatic that the region is evolving as a global automotive hub and has become a significant consumer and supplier of automobiles.
Apart from this, the e-commerce sector is one of the essential sectors in the economy in Asia-Pacific. Therefore, as per the Asian Development Bank (ADB), the Asia-Pacific region is the fastest-growing region in the global e-commerce marketplace, occupying the largest share of the world’s business-to-consumer e-commerce market. The report also suggests that until the end of 2015, the size of the e-commerce sector to the gross domestic product was 4.5% in the region of Asia-Pacific. The flourishing e-commerce and automotive industry, along with the intensifying per capita income motivate the bubble wrap packaging market in the region.
Whereas, in 2018, North America occupied the second-largest market share in the bubble wrap packaging market. As per the Netherlands-based Ecommerce Foundation, North America had the second-largest share of the B2C e-commerce market, with a turnover of around USD 644 billion. The rising e-commerce and automotive industry along with the increasing demand for consumer goods, are the reasons to raise the demand for bubble wrap packaging in the region.
Market Key Participants
The key participants of global bubble wrap packaging market are listed as Sealed Air Corporation (US), Veritiv Corporation (US), Pregis Corporation (US), IVEX Protective Packaging Inc (US), Jiffy Packaging Co. (UK), Barton Jones Packaging Ltd. (US), Smurfit Kappa (Ireland), and Automated Packaging System (US).
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Global Bubble Wrap Packaging Market: Information by Product (High-Grade Bubble Wraps, General Grade Bubble Wraps, Temperature Controlled Bubble Wraps, Limited Grade Bubble Wraps and others), Application (E-commerce, Automotive and Allied Industries, Consumer Goods, Pharmaceutical, Food and Beverages, Personal Care and others) and Region – Forecast to 2025
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