Bubble Wrap Packaging Market is Estimated to Grow at a CAGR Of 7.84% During the Estimated Time Frame from 2021 to 2028
Research Reports
May 25, 2022
Market Overview
Bubble wrap is the method of protective packaging material with air-filled bubbles in a thin polythene film. Among other packaging options, the bubble wrap packaging is higher in demand. This packaging safeguards the product with its elementary property. The retail sector is a crucial driver of the Bubble Wrap Packaging Market. Bubble wrap is widely primarily used in the retail sector for the packaging of gift items, electronics, and others.
The rising growth of online shopping trends is demanding flexible and secured packaging. Industrial players are focusing on the reduction of pilferage during transportation. This is significantly driving the market’s growth.
The development of the e-commerce sector is penetrating its sales, generating great demand for Bubble Wrap Packaging Market. The features of bubble wrapping, such as a cost-effective and convenient packaging method with the protective property, are enhancing its demand globally.
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Covid-19 has shown a moderate impact on the market. The performance of the market degraded in the end-user industries like personal care, automotive, and consumer electronics. At the same time, sales rate propelled e-commerce Companies with huge demand. In the future years, the market will notice a huge growth rate due to its focus on eco-friendly products. These factors will boost the market at the global level.
The Bubble Wrap Packaging Market will witness a CAGR of 7.84 % and a value of USD 12,299.2 Million by 2030 in the forecast period.
Market Segments
The Bubble Wrap Packaging Market is segmented into product and application.
The product segment is categorized into Standard bubble wrap, Self-adhesive bubble wrap, Anti-static bubble wrap, Foam-backed bubble wrap, Paper bubble wrap and Others.
The standard bubble wrap is highly used, while the paper bubble wrap market witnessed significant growth in the forecast period.
The application fragment of the market is categorized into E-commerce, Automotive, Consumer Goods, Pharmaceuticals, Food and Beverages, Personal Care and Others.
The E-commerce industry is the major segment of the global bubble wrap packaging market. Its demand is massive for fragile and electronic goods, and the presence of online shopping companies is driving this market segment.
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Regional Analysis
According to the geographical status, the Bubble Wrap Packaging Market the major regions such as the Asia Pacific, European region, North America and others.
Asia-pacific is the largest region due to the presence of developing countries like China, India, and Indonesia. Moreover, the disposable income of people is raising the demand for consumer goods. The growing number of internet users and the e-commerce platform is driving the regional market of APAC.
North America is considered the second-largest regional market due to the higher demand for electronic items and packaged products. The increased penetration of e-commerce companies is also accelerating the market of this region.
Europe is showing significant growth due to the high demand for eco-friendly packaging. Due to this, the regional market holds the major share.
The demand for electronic items in the Middle East region leads to a potential regional market. The African and Latin American regions will show a moderate growth rate over the forecast period.
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Industry News
In May 2019, Sealed Air Corporation, a company dealing with bubble wraps and other packaging materials, announced its acquisition of Automated Packaging Systems, a global leader in manufacturing packaging materials. This acquisition will assist the development of sustainable packaging solutions.
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