Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Bubble Wrap Packaging Market.
The Global Bubble Wrap Packaging Market is expected to gain an unprecedented value of USD 12,299.2 Million by 2025, with 7.84% CAGR during the forecast period (2019–2025). Market Research Future (MRFR) in their report envelops segmentations and drivers for a better glimpse of the market in the coming years. Bubble wrap is a form of protective packaging that consists of a two-layer laminated polyethylene film with entrapped air inside, between the two layers in the form of a bubble.
Prominent players profiled in the bubble wrap packaging market are Sealed Air Corporation (US), Veritiv Corporation (US), Jiffy Packaging Co. (UK), Pregis Corporation (US), Smurfit Kappa (Ireland), IVEX Protective Packaging Inc (US), Barton Jones Packaging Ltd. (US), and Automated Packaging System (US). Mergers, acquisitions, and collaborations are some of the strategies that these companies have adopted to stay ahead of the rest.
For instance, in May 2019, Sealed Air opened Singapore lab to provide thermal package design and testing to the region’s life sciences and food industries. This will enhance its primary food packaging, secondary product packaging, and its digital services portfolio and provide end-to-end temperature assurance solutions for product safety and consistency throughout the supply chain.
Similarly, in June 2018, Sealed Air Corporation signed an agreement with Kuraray America, Inc. (Kuraray), a Japanese chemical company to offer food packaging materials derived from its Plantic bio-based resins. This solution will enable the company to provide renewable packaging option and continue helping the industry address food waste by extending the shelf-life and freshness of food.
The global bubble wrap packaging market is segmented based on product and application.
On the basis of product, the high-grade bubble wraps segment is expected to dominate the market as it consists of stronger bubbles that help in cushioning the products and provide high amount of security during transportation.
Based on application, the e-commerce segment is expected to dominate the global market, owing to the constantly growing automotive industry, as it ensures protection against damages and provides safe working conditions for handlers by adequately packaging all mechanical or automotive parts.
Access Report Details @ https://www.marketresearchfuture.com/reports/bubble-wrap-packaging-market-1796
Geographic analysis of the global bubble wrap packaging market spans across North America, Europe, Asia-Pacific (APAC), South America, and the Middle East & Africa.
In 2018, Asia-Pacific was the leading market with a market valuation of USD 2,476.9 million. The regional market value is expected to reach USD 4,267.1 million by 2025, with an impressive 8.41% CAGR during the forecast period. Asia-Pacific is also the fastest-growing region in the global bubble wrap packaging market, with China, India, Japan, South Korea, and Australia being the major markets. The e-commerce sector is one of the most important sectors in the Asia-Pacific economy. According to Asian Development Bank (ADB), Asia is the fastest-growing region in the global e-commerce marketplace, accounting for the largest share of the world’s business-to-consumer e-commerce market. By the end of 2015, the size of e-commerce relative to gross domestic product was 4.5% in Asia-Pacific. The fast-growing e-commerce and automotive industry along with the rising per capita disposable income drives the demand for bubble wrap packaging market in the region.
In 2018, North America held the second-largest market share in the bubble wrap packaging market. According to the Netherlands-based Ecommerce Foundation, North America had the second-largest share of the B2C e-commerce market, with turnover at around USD 644 billion. The growing e-commerce and automotive industry along with the rising demand for consumer goods are anticipated to raise the demand for bubble wrap packaging in the region. In 2018, the regional market was valued at USD 2,093.3 million, which is expected to reach USD 3,425.8 million by 2025 with a 7.62% CAGR during the forecast period.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.