The global Packaging Peanuts Industry is expected to surpass a valuation of US$ 1.3 Bn in 2022. Furthermore, with rising penetration of e-commerce platforms and growing adoption of electronic devices worldwide, the overall sales of packaging peanuts are expected to rise at 4.9% CAGR between 2022 and 2032, surpassing a market valuation of US$ 2.1 Bn by the end of 2032.

The growing utilization of packaging peanuts across a multitude of industries, spanning electronics, automotive, pharmaceuticals, and construction, is a pivotal driver propelling market demand. Anticipated sales of packaging peanuts are set to strengthen, with the top three countries poised to collectively command an estimated 25-30% market share by the close of 2022.

Packaging peanuts are innovative packaging solutions used across various industries to prevent damage to fragile objects during shipping and transportation. These protective packaging solutions ensure that the shipped products will reach their destination safely.

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Consumers are purchasing electronic devices via e-commerce websites. Discounts offered by online shopping websites are attracting consumers to buy more products through online mode. Also, the ease of choosing products in the comfort of the home that too with too many options available has increased e-commerce sales, especially after the pandemic situation.

Drivers:

  1. Protective Packaging Demand: The primary driver for the Packaging Peanuts Industry is the need for effective protective packaging. E-commerce, shipping, and logistics industries rely on packaging peanuts to safeguard fragile and delicate items during transit. The growth of online shopping has significantly increased the demand for protective packaging solutions.
  2. Lightweight and Cost-Efficient: Packaging peanuts are lightweight, which helps reduce shipping costs, making them an attractive option for businesses looking to cut down on transportation expenses. Their cost-effectiveness is a key driver for their widespread use in packaging.
  3. Versatility: Packaging peanuts are versatile and can be used for cushioning a wide range of products, from electronics to glassware. Their adaptability to various shapes and sizes makes them a preferred choice for protecting items with different packaging requirements.
  4. Eco-Friendly Alternatives: The market has witnessed a shift toward eco-friendly and biodegradable packaging peanuts, addressing concerns about environmental sustainability. This transition is driven by both consumer preferences and regulations promoting sustainable packaging practices.

Challenges:

  1. Environmental Concerns: Traditional packaging peanuts made from expanded polystyrene (EPS) are non-biodegradable and contribute to environmental concerns due to their persistence in landfills. Regulations aimed at reducing plastic waste may impact the use of EPS packaging peanuts.
  2. Alternative Packaging Solutions: As the focus on sustainability grows, businesses are exploring alternative protective packaging materials, such as air cushions, paper-based solutions, and recyclable options. The availability of these alternatives could pose a challenge to the traditional packaging peanut market.
  3. Storage and Disposal: Packaging peanuts can be bulky to store and challenging to dispose of for consumers. Managing these materials can be inconvenient, and businesses may seek packaging solutions that are easier for their customers to handle.
  4. Regulatory Changes: Evolving regulations related to packaging materials and environmental impact can affect the packaging peanut market. Stricter rules on plastic usage and waste management could lead to changes in packaging preferences.

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Key Takeaways from Packaging Peanuts

  • Based on material, the starch-based polymers segment is expected to register a CAGR of 5.1% during the forecast period.
  • By application, the void-filling segment is projected to expand by 1.8x the current market value during the forecast period.
  • Based on end use, the electrical & electronics and furniture & home décor segments are collectively projected to hold around 61% of the market value share by the end of 2022.
  • Europe and North America together hold the largest share of the global Packaging Peanuts Industry and the trend is expected to continue over the next ten years.
  • The U.S. Packaging Peanuts Industry is expected to grow 1.5 times the current market value during the forecast period.
  • India holds around 46% share of the South Asia Packaging Peanuts Industry.

Rise in Spending on Furniture & Home Décor Products Bolstering Demand for Packaging Peanuts

Nowadays, most people have upgraded their lifestyles and decorated their living spaces. People are earning more money and hence their spending capacity has also changed. Many brands have come up with home decor items in the market and consumers are now more interested in keeping their space lavish. So, the demand for house furnishing items or house decoration items is increasing. This in turn is creating high demand for packaging peanuts and the trend is expected to continue during the forecast period.

These days, online shopping has become the most followed trend, especially after the pandemic. Since people are busy with their work and may not have time for visiting, they are ordering decorative items from e-commerce websites such as Pepperfry, Amazon, etc. The manufacturer or supplier has to make sure that the product should reach safely to its destination without any damage. This is prompting them to use packaging solutions like packaging peanuts.

Key Players

  • Willard Packaging Company
  • Test Valley Packaging
  • Pioneer Packaging
  • Puffy Stuff Inc.
  • Styro Insulations Mat. Ind. LLC.
  • President Container Inc.
  • AP Packaging Corp
  • Polar Tech Industries
  • Johnpac LLC
  • Supply One Inc.
  • Eco Packaging Solutions
  • Nefab Group
  • Stream Peak International PTE Ltd.
  • Green Light Packaging Ltd

Packaging Peanuts Industry by Category

By Material:

  • Expanded Polystyrene
    • Virgin
    • Recycled
  • Starch-based Polymers

By Application:

  • Cushioning
  • Void Filling

By End Use:

  • Electrical & Electronics
  • Automotive & Allied Industries
  • Construction & Building
  • Pharmaceuticals
  • Furniture & Home Décor
  • Other Consumer Goods

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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