ID: MRFR/PNT/1264-CR | 174 Pages | Published By Tejas Chaudhary on March 2023
Bubble Wrap Packaging Market Size was valued at USD 2.6 Billion in 2022. The Bubble Wrap Packaging market industry is projected to grow from USD 3.1 Billion in 2023 to USD 05 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.1% during the forecast period (2023 - 2030). The bubble wrap packaging market is growing rapidly with the rise in demand for consumer goods, mostly electronics are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rise in demand for consumer goods has contributed to the growth of the bubble wrap packaging market. Bubble wrap is a type of plastic packaging material that is widely used for cushioning and protecting products during transportation and storage. With the increase in online shopping and e-commerce, there has been a significant rise in the demand for bubble wrap packaging to protect fragile goods during shipping.
The increasing demand for protective packaging materials in various end-use industries such as food & beverages, healthcare, electronics, and consumer goods. The growing popularity of online shopping and the increasing demand for eco-friendly and biodegradable bubble wrap materials as key trends in the market. Moreover, the COVID-19 pandemic has also contributed to the growth of the bubble wrap packaging market, as it has led to an increase in e-commerce activities and a surge in demand for safe and secure packaging materials for essential goods and medical supplies. Therefore, such factors related to Bubble Wrap Packaging have enhanced the Bubble Wrap Packaging market CAGR across the globe in recent years.
The Bubble Wrap Packaging market segmentation, based on product, includes High-Grade Bubble Wraps, General Grade Bubble Wraps, Temperature Controlled Bubble Wraps, Limited Grade Bubble Wraps and others. The High-Grade Bubble Wraps segment held the majority share in 2022 of the Bubble Wrap Packaging market revenue. The high-grade bubble wrap segment could hold a significant share of the bubble wrap packaging market revenue, as high-grade bubble wraps are typically used for more demanding packaging applications, such as protecting fragile electronic devices and medical equipment during shipping.
Based on application, the Bubble Wrap Packaging market segmentation includes E-commerce, Automotive and Allied Industries, Consumer Goods, Pharmaceuticals, Food and Beverages, Personal Care, and others. The e-commerce segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. The growth of online shopping has increased the demand for protective packaging materials such as bubble wraps to ensure the safe and secure delivery of goods to consumers. These all factors for Bubble Wrap Packaging positively impact the market growth.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is one of the fastest-growing markets for bubble wrap packaging, driven by the increasing demand for protective packaging materials in various end-use industries such as electronics, healthcare, and e-commerce. This can be attributed to the rapid growth of these industries in countries such as China, India, Japan, and South Korea.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Europe’s Bubble Wrap Packaging market accounts for the third-largest market share. There is a high demand for eco-friendly protective packaging and paper bubble wraps occupy a major share of the market. Further, the Germany Bubble Wrap Packaging market held the largest market share, and the UK Bubble Wrap Packaging market was the fastest-growing market in the European region.
North America, Bubble Wrap Packaging market, is expected to grow at the fastest CAGR from 2023 to 2030. The high demand for electronic items and packaged products including packaged foods generate significant demand for bubble wrap packaging. The greater penetration of e-commerce companies also makes up for the major demand in this region. Moreover, the U.S. Bubble Wrap Packaging market held the largest market share, and the Canada Bubble Wrap Packaging market was the fastest-growing market in the North American region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Bubble Wrap Packaging market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Bubble Wrap Packaging industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Bubble Wrap Packaging. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Bubble Wrap Packaging industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Bubble Wrap Packaging industry to benefit customers and expand the market sector. Major Bubble Wrap Packaging market players, including Veritiv Corporation, Sealed Air Corporation, Jiffy Packaging Co., Pregis Corporation, Smurfit Kappa, Barton Jones Packaging Ltd., IVEX Protective Packaging Inc, and Automated Packaging System, and others, are attempting to increase market demand by funding R&D initiatives.
Veritiv Corporation is a North American company that provides packaging, logistics, and supply chain management services. Veritiv has a diverse customer base across various industries, including healthcare, retail, manufacturing, and food service. Veritiv offers a range of packaging solutions, including corrugated boxes, retail packaging, custom packaging, and industrial packaging. The company also provides fulfillment and warehousing services, as well as printing and graphics solutions.
Sealed Air Corporation is a packaging and hygiene solutions provider. Sealed Air serves a range of industries, including food and beverage, healthcare, e-commerce, and industrial. Sealed Air's portfolio of packaging solutions includes bubble wrap, foam packaging, shrink films, and automated packaging systems. Sealed Air's hygiene solutions portfolio includes cleaning and disinfecting products, as well as personal protective equipment. The company is committed to sustainability and offers a range of sustainable packaging solutions, including recycled materials, biodegradable films, and reusable packaging.
Jiffy Packaging Co.
IVEX Protective Packaging Inc
Automated Packaging System among others
January 2020: Sealed Air Corporation announced that it has launched a new version of the BUBBLE WRAP brand packaging material that is made with at least 90 percent recycled content.
High-Grade Bubble Wraps
General Grade & Temperature Controlled Bubble Wraps
Limited Grade Bubble Wraps
Automotive and Allied Industries & Consumer Goods
Pharmaceutical, Food, and Beverages & Personal Care
|Market Size 2022||USD 2.6 Billion|
|Market Size 2023||USD 3.1 Billion|
|Market Size 2030||USD 05 Billion|
|Compound Annual Growth Rate (CAGR)||8.1% (2023-2030)|
|Market Forecast Period||2023-2030|
|Historical Data||2018 & 2020|
|Market Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||Veritiv Corporation, Sealed Air Corporation, Jiffy Packaging Co., Pregis Corporation, Smurfit Kappa, Barton Jones Packaging Ltd., IVEX Protective Packaging Inc, and Automated Packaging System|
|Key Market Opportunities||Rising Income Level Of Individual In Developing Countries|
|Key Market Dynamics||Growing Trend Of The Online Shopping Rapid Growth In Electronic Sector Availability Biodegradable Bubble Wrap|
The Bubble Wrap Packaging market size was valued at USD 2.6 Billion in 2022.
The market is projected to grow at a CAGR of 8.1% during the forecast period, 2023-2030.
Asia Pacific had the largest share in the Bubble Wrap Packaging market.
The key players in the market are Veritiv Corporation, Sealed Air Corporation, Jiffy Packaging Co., Pregis Corporation, Smurfit Kappa, Barton Jones Packaging Ltd., IVEX Protective Packaging Inc, and Automated Packaging System.
The high-grade bubble wraps category dominated the market in 2022.
E-commerce had the largest share in the market for Bubble Wrap Packaging.