The inflatable packaging market is set to grow at a steady pace through 2032, as demand for convenient packaging continues to grow.
Demand will continue to be strong in the US, however, opportunities in Asia Pacific are likely to complement growth. Many economies in Asia Pacific have been less severely impacted by the COVID-19 crisis, and this can offset some of the weakness in the market.
“Advanced technologies and better preference for packaging solutions across the planet, has surged the demand for inflatable packaging. Flourishing e-commerce activities demand convenient packaging solutions to avoid shocks and damage to the product,” says the FMI Analyst.
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Inflatable Packaging Market – Key Highlights
- According to analysis at FMI, bubble wrap section is anticipated to expand exponentially due to escalating demand by online retailers.
- US will remain the largest market for inflatable packaging during the assessment period.
- Owing to its lightweight feature, air pillow section will witness rapid adoption.
Inflatable Packaging Market – Driving Factors.
- Growing demand for safe packaging is pushing inflatable packaging market growth
- Air pillow section provides higher barrier protection against shocks, therefore, creating sustainable opportunities in fragile item packaging
- Requirement of bubble wraps in packing fragile products for cushioning purpose, propels demand for the same.
- Food, beverage and healthcare industries also require such packaging to reduce exposure and destruction.
Inflatable Packaging Market – Key Restraints
• Inflatable packaging continues to be relatively higher priced than traditional packaging.
• Reduced availability of raw materials is creating supply chain issues
The global inflatable packaging market grew at a CAGR of 5.3% during the historical period. As per FMI, the market reached a valuation of US$ 2.5 Bn in 2021. Inflatable packaging has gained immense popularity in the packaging field as a convenient and economical cushioning solution. Inflatable packaging is also considered to be an efficient and protective packaging solution, which is mainly used for product stability and safe transit.
Inflatable packaging ensures the safety of products by providing shatterproof solutions for delicate products such as electronic gadgets, glass items, and other items. Surging trade of various products is the major factor driving demand for protective packaging, including inflatable packaging.
Furthermore, increased demand for consumer electronics is projected to augment sales of inflatable packaging to ensure the safe and secure delivery of products to customers. Inflatable packaging helps in reducing the overall weight of the container, thereby resulting in decreased warehouse cost. Moreover, due to reduced weight, inflatable packaging helps in lowering the carbon footprint. Overall, the global inflatable packaging market is projected to gain traction during the forecast period.
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Competition Landscape
Key inflatable packaging market players are involved into incorporating innovative techniques like shock protective barriers to reinforce market growth. Some of the key players in the market include, Automatic Packaging Systems, Inc., Macfarlane cluster PLC, Polyair Interpack, Sealed Air Corporation, Pregis Corporation, Smurfit Kappa Group, Automated Packaging Solutions Inc., Macfarlane Group PLC, Polyair Interpac Inc.
Inflatable packaging manufacturers are also functioning on increasing product portfolio to get a better market insight. They are launching distinctive product and making new market technologies, mergers and acquisitions.
Intertape Polymer Group acquired Polyair Interpac to include bubble cushioning, mailers and air pillow systems and sold a variety of paper and film based packaging products.
Smurfit Kappa signed a contract with Nestle to enhance food packaging. This in turn helped in widening the supply chain and assisted in exporting products to greater distances.
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