A new report by Future Market Insights (FMI) has projected the global market for bubble wrap packaging to ride on an impressive CAGR over the forecast period, 2017 to 2026. Revenues from sales of bubble wrap packaging across the globe is poised to reach nearly US$ 3,500 Mn by 2026-end.
Biodegradable Bubble Wraps – A Key Trend Observed in the Market
As sustainability has gained increased momentum in the packaging industry, vendors in the market are making huge investments in research & development activities for developing environment friendly and sustainable packaging solutions. Increasing concerns about impact of plastics on the environment has further led toward development of eco-friendly flexible protective packaging, such as biodegradable bubble wraps for packaging. This is a key trend being observed in the bubble wrap packaging market.
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The booming e-commerce sector has spurred the demand for bubble wrap packaging since the recent past. Robust expansion of retail industries is expected to pave significant opportunities for vendors in the global bubble wrap packaging market. These vendors mainly compete in terms of factors such as distribution network, innovation, market responsiveness, and product pricing. In addition, international players in the market are eyeing on acquisition of regional players, in a bid to enhance their product portfolio and increase their market presence.
Bubble wraps tend to catch fire more easily than other forms of flexible protective packaging, mainly because the plastic and air mixture. This factor might curb the adoption of bubble wraps as packaging solutions. In addition, several eco-friendly and less expensive alternatives to bubble wraps are gaining prevalence in the market, such as recycled paper and foam packaging, which in turn is expected to inhibit the market expansion of bubble wrap packaging.
PE- & PET-based Bubble Wrap Packaging to Collectively Surpass US$ 2,500 Mn by 2026-end
Based on material, bubble wraps manufactured by using polyethylene (PE) and polyethylene terephthalate (PET) are expected to remain dominant in the market, in terms of revenues. Revenues from sales of PE- and PET-based bubble wrap packaging are collectively estimated to exceed US$ 2,500 Mn by 2026-end. In contrast, revenues from bubble wraps manufactured by using polyamide (PA) will remain relatively lower over the forecast period.
Bubble wrap packaging is expected to witness the fastest expansion for end-use in healthcare, electrical & electronics, and home care products respectively. In addition, sales of bubble wrap packaging in shipping & logistics, and personal care and cosmetics end-use sectors are expected to register nearly similar CAGRs through 2026. Bubble wrap packaging is also expected to witness a robust demand for end use in automotive and allied industries throughout the forecast period.
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Bubble Wrap Market in MEA & Europe to Witness a Parallel Expansion
Demographic Trends such as rapid urbanisation, industrialisation, and increasing population have been complementing expansion of the manufacturing sector in Asia-Pacific excluding Japan (APEJ). APEJ will continue to be the largest contributor to the global bubble wrap packaging market, in terms of revenues. Europe and North America are also expected to remain lucrative for growth of the bubble wrap packaging market. In addition, the market in Middle East & Africa (MEA) and Europe are expected to witness a parallel expansion through 2026. However, following Japan, MEA will remain less lucrative for the market expansion.
General grade bubble wraps and high grade bubble wraps are anticipated to remain the top-selling products in the market, with their sales collectively estimated to exceed US$ 2,000 Mn by 2026-end. However, sales of temperature-controlled bubble wraps will reflect the highest CAGR through 2026.
Key players identified by FMI’s report on the global market for bubble wrap packaging include Omniverse Foster Packaging Group, Inflatable Packaging, Inc., Free-Flow Packaging International, Inc., Polyair Inter Pack Inc., Automated Packaging Systems, Inc., FROMM Packaging Systems Inc., Storopack Hans Reichenecker GmbH, Pregis Corporation, Smurfit Kappa Group, and Sealed Air Corporation.