Bubble Wrap Packaging Market Growing despite COVID-19 Pandemic
The Bubble Wrap Packaging Market is expected to exhibit a strong 7.84% CAGR over the forecast period till 2025, according to the latest research report from Market Research Future (MRFR). The global bubble wrap packaging market is expected to reach a valuation of close to USD 12.3 billion by 2025, according to the report. The report presents a detailed evaluation of the market’s growth prospects over the forecast period. Major drivers and restraints affecting the global bubble wrap packaging market are profiled in detail in the report. Major players operating in the global bubble wrap packaging market are also profiled in detail in the report. The impact of the COVID-19 pandemic on the global bubble wrap packaging market is also assessed in detail in the report.
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Bubble wrap packaging is a form of packaging that consists of two layers of polyethylene film, with air entrapped between the two layers to form air bubbles. It is widely used in various packaging applications due to its ability to keep packages safe from moisture and physical damage. Due to the entrapped air, bubble wrap packaging is highly effective in protecting packages from physical damage resulting from accidental drops and other such eventualities. The need to protect packages to a high standard has resulted in a growing demand for bubble wrap packaging from the packaging industry.
The growing ecommerce sector is likely to be a major driver for the global bubble wrap packaging market. Bubble wrap packaging is widely used to package objects ordered from ecommerce portals, as it provides a highly effective way of packaging objects in order to protect them during transportation. The rising use of mobile devices for shopping and payment is likely to drive the ecommerce sector around the world over the forecast period. This is likely to remain a major driver for the global bubble wrap packaging market over the forecast period.
The development of biodegradable bubble wrap packaging is also likely to be a major driver for the global bubble wrap packaging market. Currently, the major restraint on the global bubble wrap packaging market is the fact that bubble wrap packaging is not biodegradable and thus can be a nuisance for the environment when dumped. The development of biodegradable bubble wrap packaging solves this issue, and is thus likely to become a major driver for the global bubble wrap packaging market over the forecast period.
Competitive Leaderboard:
Leading players in the global bubble wrap packaging market include Automated Packaging System, IVEX Protective Packaging Inc., Barton Jones Packaging Ltd., Smurfit Kappa, Pregis Corporation, Jiffy Packaging Co., Sealed Air Corporation, and Veritiv Corporation.
In May 2019, Sealed Air Corporation opened a new research lab in Singapore to provide thermal package design and testing solutions to the region’s life sciences and food industries.
In June 2018, Sealed Air Corporation signed an agreement with Kuraray America Inc. to offer food packaging materials derived from its biobased resin, Plantic.
Market Segmentation
The segments depending on which the research on the bubble wrap packaging market has been carried out include product and application.
The product-based market segmentation comprises general grade bubble wraps, high-grade bubble wraps, limited grade bubble wraps, temperature-controlled bubble wraps, and more. There is a large demand for high-grade bubble wraps in the market, making it the highest gaining segment. High-grade bubble wraps consist of stronger bubbles that not only cushion the products but also offer considerable amount of security by holding them intact during transit.
The chief applications of bubble wrap packaging are personal care, e-commerce, pharmaceutical, food and beverages, automotive and allied industries, consumer goods, and others. With the vast expansion of the e-commerce sector and the high demand generated for bubble wraps, the segment is set to dominate the global market in the near future.
Regional Insight
Region-wise study of the bubble wrap packaging market covers North America, Asia Pacific or APAC, South America, Europe, as well as the Middle East & Africa or MEA.
The possibility of APAC claiming the top position in the global market during the appraisal period is quite high, with North America coming a close second. The economy in APAC is largely dependent on the e-commerce sector, which is gaining high traction with each year. The retail market has become quite lucrative across various platforms, whether it is retail e-commerce or hypermarkets. A majority of regional manufacturers as well as retailers are putting in substantial amount of efforts to enhance product quality in a bid to cater to the high performance goals. Also, the surge in the use of mobile as well as low cost data has boosted the expansion rate of the e-commerce industry in the region, leading to massive growth of the bubble wrap market.
The North American market growth is warranted by factors like the increasing size of the automotive and e-commerce industry. Most of the retail outlets across the region are setting up programs that are spreading awareness among people about the ill-effects of plastic bags and are prompting the use of eco-friendly packaging options. This can boost the sales of eco-friendly bubble wraps packaging in the coming years.
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