Surging demand for packaging materials in household as well as industrial sector owing to high safety concerns, promotes market growth.
DUBAI, UAE / ACCESSWIRE / October 14, 2020 / Future Market Insights: The inflatable packaging market is expected to rise at a considerable CAGR due to rising needs of consumer electronics. Due to the increment in need for convenient packaging solutions in food, medical or online delivery sector, demand is gaining popularity in the market. Asia-Pacific and North America is likely to witness a surge in production and consumption with presentation of incremental opportunities through 2030.
'Availability of wide range of advanced technologies and higher preference for sustainable packaging solutions across the world, has surged the demand for inflatable packaging. Different end-use industry relies on it to gather proper information about the products and use of it has also helped the manufacturers get an insight about the kind of production this market demands,' says the FMI Analyst.
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Inflatable Packaging Market - Key Highlights
- Inflatable Packaging Market is set to surpass million dollars in the upcoming years.
- According to research analysts at FMI, bubble wrap segment is expected to expand due to escalating demand by online stores.
- North America is likely to remain the most lucrative region in the upcoming years.
- With air pillow segment hitting pedestal, US is set to witness a million dollars profit in the near future.
Inflatable Packaging Market - Driving Factors
- Rising e-commerce activities and increasing demand for packaging solutions by retailers and wholesalers is driving the market.
- Use of inflatable packaging is prevalent in safeguarding fragile products. Use extends due lightweight and eco-friendly nature.
- Air pillow segment provides better barrier protection against shocks, therefore, attracting shops and online delivery stores.
- Requirement of inflatable packaging (bubble wraps) in sending fragile items propels market growth.
Inflatable Packaging Market - Key Restraints
- Investment might be expensive, hence, acting as a restraint.
- Lesser availability of raw materials might cause reduced production too.
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Expected Impact on Market by Coronavirus Outbreak
This market might have experienced considerable pressure during the early lockdown period but has now gained proper traction due to reliance on online ordering and better packaged products. In times like these, social distancing and proper hygiene is a must and people are following that. The packaging market has always been in demand and can revive back to a very good position, even better than before. Consumer demanded goods is driving the market positively and will not witness much of a loss in the coming years. Rising demand for ready-to-eat food, medicines, and nutraceuticals will boost market growth.
Key manufacturers are incorporating innovative techniques like shock protecting barriers to enhance market growth. Major players in the market include Murfit 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., AE Sutton Limited.
For an instance, key companies are focussing on adopting better technologies and expansion strategies. Manufacturers are also working on expanding product portfolio to achieve better market insights. They are launching unique products and creating new market technologies, mergers and acquisitions.
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More on the report
FMI's report provides proper segmentation and analysis of market trends and macro-economic factors on the basis of type (bubble wrap, air pillows, high grade, general bubble wrap etc.), end-use (cosmetics, pharmaceuticals, automotive, homecare etc.), material (LDPE, HDPE etc.) and region-wise segmentation (North America, Asia-Pacific, Eastern and Western Europe).
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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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SOURCE: Future Market Insights
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