As the demand for protective packaging solutions increases worldwide, the scope for inflatable packaging is rising at an unprecedented rate. Manufacturers are fast transitioning from conventional materials such as glass and paper to more flexible alternatives bubble wraps and air pillows, opines a new study by ESOMAR-certified market research firm Future Market Insights.
As e-commerce and online sales experience a massive spike, people are increasingly demanding products such as cosmetics, ready-to-eat foods, beverages, healthcare & hygiene products, consumer electronics and nutraceuticals through virtual sales platforms. These products require proper packaging solutions while in transit.
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Based on these aforementioned trends, FMI predicts the inflatable packaging solutions market to scale impressive heights, expanding at a steady CAGR and reaching a multi-billion dollar valuation by the end of the 2020-2030 forecast period.
By packaging type, bubble wraps are expected to be the most widely used. However, air pillows are fast catching up
- By end-use, food & beverage segment to capture an impressive revenue share
- PE derived inflatable packaging materials are expected to capture the majority of the market, attributed to its leakage proof property
- North America to pivot global growth, East Asia to follow close behind
- Swelling demand for eco-friendly material to shape future growth outlook
“Deepening internet penetration has propelled e-commerce sales of various consumer products, prompting vendors to develop innovative flexible packaging solutions,” concludes an FMI analyst.
COVID-19 to Usher in Minor Deceleration
The coronavirus pandemic has resulted in significant disruptions across key industries. Government mandated lockdowns to curb the virus’s spread have resulted in narrow profit margins and reduced cash inflow. Logistical arrangements to transport goods have been impacted, leading to piling up of inventories.
Such disruptions have directly and indirectly impacted the packaging market. Until 2021, analysts predict the global inflatable packaging market to remain in doldrums across certain industries such as automotive & allied industries and shipping and logistics. Growth is expected to be restored post-pandemic.
However, industries such as healthcare, cosmetics and food & beverages shall sustain demand for inflatable packaging solutions due to increased demand from consumers via e-commerce platforms. Thus, FMI has revised its projections to peg growth at a modest figure in the upcoming forecast period.
Leading players in the inflatable packaging market include Pregis Corporation, Smurfit Kappa Group, Automated Packaging Solutions Inc., Macfarlane Group PLC, Polyair Interpac Inc. and Inflatable Packing Inc. among others.
The aforementioned players invest in tremendous amounts of research and development so as to launch new packaging solutions, keeping in mind the existing demand trends within several end-use industries.
Pregis Corporation is among the frontrunners of the global inflatable packaging solutions market. Its solutions include the Ascent, ChamberPark, HC Versa, AirSpeed 5000, Smart and MINI PAK’R packaging approaches to name a few. It offers these solutions on an industry-specific basis.
Recently, in October 2020, Smurfit Kappa Group launched the BanaBag® packaging solution made from cellulose. This product is largely used for banana cultivation, acting as a natural insulator against hostile temperatures. It is also used by banana producers to transport the fruit to markets.
More Valuable Insights on the Inflatable Packaging Market
Future Market Insights, in its new report, offers an unbiased analysis of the global hermetic packaging market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the hermetic packaging market on the basis of packaging type (bubble wraps, inflated packaging bags and air pillows), material (PE, PA, PET and others) and end-use (personal care & cosmetics, healthcare, homecare, automotive & allied industries, electrical & electronics, e-commerce, shipping & logistics and food & beverages) across six regions.
Inflatable Packaging Market- Report Scope
|Historical Data Available for||2015-2019|
|Market Analysis||US$ Mn for Value and Tons for Volume|
|Key Regions Covered||North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia & Oceania|
|Key Countries Covered||U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, Russia, Poland, Turkey, South Africa, GCC, Japan, South Korea, India, China, Australia & New Zealand|
|Key Segments Covered||Packaging Type, Material & End-Use|
|Key Companies Profiled||Sealed Air Corporation Pregis Corporation Smurfit Kappa Group Automated Packaging Systems, Inc. Macfarlane Group PLC Polyair Interpack Inc. Inflatable Packaging Inc. Omniverse Foster Packaging Group Advanced Protective Packaging Inc. Free-Flow Packaging International Inc. A E Sutton Limited Easypack Limited Uniqbag Lp Green Light Packaging Ltd.|
|Report Coverage||Market Overview, Key Market Trends, Key Success Factors, Demand Analysis, Market Background, COVID-19’s Impact, Segmental Analysis, Regional Profiling, Market Structure Analysis and Competition Analysis|
|Customization & Pricing||Available upon Request|
Key questions answered in the report
- Comment on the inflatable packaging market’s growth prospects. According to FMI, the inflatable packaging market is scheduled to experience a steady CAGR during 2020-2030.
- What drivers underpin market growth? Growth of the inflatable packaging market is largely dependent upon the increasing demand for flexible, lightweight and robust packaging solutions by several retailers, wholesalers and distributors to transport fragile goods. In addition, rising e-commerce activities have resulted in higher volumes of digital sales, generating enhanced demand for effective packaging solutions to deliver goods to customers across the entire globe.
- Identify the most frequently used inflatable packaging type. Bubble wraps are the most prominent inflatable packaging solutions in use. This popularity is not expected to wane in the projected forecast period, attributed to surging volume of online sales. However, the air pillow segment is witnessing rapid adoption, owing to greater effectiveness in protecting goods from external shocks and its lightweight properties.