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.
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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.
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.
“Deepening internet penetration has propelled e-commerce sales of various consumer products, prompting vendors to develop innovative flexible packaging solutions,” concludes an FMI analyst.
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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.
Key Segment
Packaging Type
- Bubble Wraps
- High Grade
- General Bubble Wrap
- Low or Limited Grade
Material
- PE
- LDPE
- HDPE
- PA
End-Use
- Personal Care and Cosmetics
- Healthcare
- Homecare
- Automotive and Allied Industries
- Electrical & Electronics
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.
- 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.
- Which is the fastest growing region for the inflatable packaging market?North America is expected to remain the most lucrative market for inflatable packaging solutions sales in the upcoming forecast period. Rising demand for flexible packaging solutions by consumers is the key growth driver for the region.East Asia represents a highly promising region due to a rapidly expanding food & beverage and healthcare industry. China is slated to pivot the majority of the growth in the forthcoming decade.
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Key Takeaways
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
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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