The global inflatable packaging market is gaining from the exponential growth of global protective packaging market. Inflatable packaging is a type of flexible packaging that offers high protection to fragile goods against shocks during transit. This makes inflatable packaging preferred among product manufacturers, retailers, and logistics service providers. Inflatable packaging is also environment friendly over its bulkier counterparts such as paper cushioning and loose-fill peanuts.
Globally, the increasing number of internet users are increasingly preferring online retail channel for convenience. However, the delivery of goods requires safe packaging to prevent damage during handling and transportation. This is acting in favor of the inflatable packaging market.
A report by Transparency Market Research (TMR) estimates the global inflatable packaging market to expand at a CAGR of 6.0% for the forecast period of 2017 to 2025. Progressing at this rate the market will be worth US$3.1 bn by the end of 2025 from a valuation of of US$1.95 bn in 2016.
E-commerce to hold Substantial Market Share through Forecast Period
The report segments the global inflatable packaging market on the basis of material type, packaging type, end-use, and geography. Depending on material type, PE, PA, and PET are the segments into which the global inflatable packaging market is divided in this report. The PE segment is further sub-segmented into LDPE and HDPE. Of them, PE segment leads the market accounting for a little over than 50% share vis-à-vis value. The LDPE sub-segment is anticipated to display an impressive over 6.8% CAGR over the forecast period.
In terms of packaging type, the global inflatable packaging market has been bifurcated into bubble wraps, inflated packaging bags, and air pillows. The bubble wrap segment, amongst all, accounts for more than two-third market share in terms of value. Inflated packaging bags are predominantly used for packaging of wines, champagne, spirits, etc.
On the basis of end-use, the inflatable packaging market has been segmented into personal care and cosmetics, homecare, healthcare, automotive and allied industries, electrical & electronics, e-commerce, shipping & logistics, and food & beverages. Among these, e-commerce is expected to lead the market holding one-third of market share in terms of value over the forecast period. Shipping and logistics is the second-leading end-use segment contributing substantial revenue to the overall market. Shipping and logistics end-use segment is gaining from the double-digit growth of e-commerce industry.
E-commerce Boom Aids Growth of Asia Pacific Market
The global inflatable packaging market has been segmented into five regions, namely North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is anticipated to lead in terms of both value and volume over the forecast period. The region is estimated at 714.4’000 tons of consumption of inflatable packaging in 2017, and the consumption is expected to further reach 1,067.6’000 tons by the end of 2025.
Europe is another key region for inflatable packaging. Expanding at a CAGR of 4.0% over the forecast period, the demand will translate into a revenue of US$615.9 mn in 2017, and further to US$818.2 by the end of the forecast period.
However, Asia Pacific is projected to display the leading 8.6% CAGR over the forecast period. The region is expected to emerge as a lucrative market for inflatable packaging over the forecast period.
Key players operating in the global inflatable packaging market include Smurfit Kappa Group, Sealed Air Corporation, Pregis Corporation Storopack Hans Reichenecker GmbH, FROMM Packaging Systems Inc., Automated Packaging Systems Inc., Macfarlane Group plc, Polyair Inter Pack Inc., Inflatable Packaging Inc., Omniverse Foster Packaging Group Advanced Protective Packaging Ltd., Aeris Protective Packaging Inc., Free-Flow Packaging International Inc., A E Sutton Limited, Easypack Limited, Uniqbag Lp, Green Light Packaging Ltd., and Airpack.
Inflatable Packaging Market o Observe Growth through its Environment-friendly Designs
Inflatable packaging is used during shipping for the purpose of shielding breakable goods from shocks, which is why it is favored by retailers, producers, wholesalers, and suppliers of logistics facilities. The environmentally friendly design and aspect of inflatable packaging and its lightweight characteristic are anticipated to pave way for rapid growth of the global inflatable packaging market in the years to come.
One of the major factors expected to stimulate the growth of the global inflatable packaging market is the rising demand for safe packaging solutions. Inflatable packaging goods are highly efficient in terms of safety during transportation and stabilization, which is likely to drive the overall growth of the global inflatable packaging market in the next few years to come. In addition, another main factor projected to increase demand in the next few years is the low cost of these goods. In addition to that, the augmented awareness amongst individuals about the environment friendly features of inflatable packaging items is likely to produce lucrative growth opportunities for vendors in the said market.
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Demand to Ride on the Back of High Demand for Protective Packaging in the Market
It is further anticipated that increasing demand for protective packaging services will affect the growth of the global inflatable packaging market over the projected timeframe. This form of packaging is quite effective and provides the goods being transported with a high degree of protection & security as well as stability. This factor is expected to drive the market trends. Low price of products is estimated to come up another growth promoting factor for the market in near future. In addition to that, increasing awareness about inflatable packaging solutions together with augmented sale through online platforms is likely to drive demand for the product. Booming business of digital retail activities and e-commerce services are anticipated to bolster growth of the global inflatable packaging market in the forthcoming years.
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
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