The global bubble wrap packaging market is expected to exhibit a strong 7.84% CAGR over the forecast period till 2025, according to the latest research report from Market Research Future (MRFR). The global Bubble wrap Packaging Market Share is expected to reach a valuation of close to USD 12.3 billion by 2025, according to the report.
The report presents a detailed evaluation of the market’s growth prospects over the forecast period. Major drivers and restraints affecting the global Bubble wrap Packaging Market are profiled in detail in the report. Major players operating in the global bubble wrap packaging market are also profiled in detail in the report. The impact of the COVID-19 pandemic on the global bubble wrap packaging market is also assessed in detail in the report.
Bubble wrap packaging is a form of packaging that consists of two layers of polyethylene film, with air entrapped between the two layers to form air bubbles. It is widely used in various packaging applications due to its ability to keep packages safe from moisture and physical damage. Due to the entrapped air, bubble wrap packaging is highly effective in protecting packages from physical damage resulting from accidental drops and other such eventualities. The need to protect packages to a high standard has resulted in a growing demand for bubble wrap packaging from the packaging industry.
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The growing ecommerce sector is likely to be a major driver for the global bubble wrap packaging market. Bubble wrap packaging is widely used to package objects ordered from ecommerce portals, as it provides a highly effective way of packaging objects in order to protect them during transportation. The rising use of mobile devices for shopping and payment is likely to drive the ecommerce sector around the world over the forecast period. This is likely to remain a major driver for the global bubble wrap packaging market over the forecast period.
The development of biodegradable bubble wrap packaging is also likely to be a major driver for the Bubble Wrap Packaging Market Growth. Currently, the major restraint on the global bubble wrap packaging market is the fact that bubble wrap packaging is not biodegradable and thus can be a nuisance for the environment when dumped. The development of biodegradable bubble wrap packaging solves this issue, and is thus likely to become a major driver for the global bubble wrap packaging market over the forecast period.
Leading players in the global bubble wrap packaging market include Automated Packaging System, IVEX Protective Packaging Inc., Barton Jones Packaging Ltd., Smurfit Kappa, Pregis Corporation, Jiffy Packaging Co., Sealed Air Corporation, and Veritiv Corporation.
In May 2019, Sealed Air Corporation opened a new research lab in Singapore to provide thermal package design and testing solutions to the region’s life sciences and food industries.
In June 2018, Sealed Air Corporation signed an agreement with Kuraray America Inc. to offer food packaging materials derived from its biobased resin, Plantic.
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The global bubble wrap packaging market is segmented on the basis of product, application, and region.
- By product, the global bubble wrap packaging market is segmented into high-grade bubble wrap, general grade bubble wrap, temperature controlled bubble wrap, limited grade bubble wrap, and others.
- By application, the global bubble wrap packaging market is segmented into ecommerce, automotive and allied industries, consumer goods, pharmaceutical, food and beverages, personal care products, and others. The ecommerce segment holds the largest share in the global bubble wrap packaging market and is likely to retain its dominant stake in the market over the forecast period due to the growing scope for ecommerce in the world’s developing economies.
Asia Pacific is likely to dominate the global bubble wrap packaging market over the forecast period due to the growing ecommerce sector in highly populous economies such as China and India. North America holds the second largest share in the global bubble wrap packaging market and is likely to retain an important share in the global market over the forecast period.
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