The market for packaging peanuts is anticipated to reach US$ 1.3 billion in 2022 and grow at a CAGR of 4.9% during the following five years (2022 to 2032). By the end of 2032, the global market for packaging peanuts is anticipated to reach a value of US$ 2.1 billion.
The Packaging Peanuts Market has witnessed significant growth in recent years, driven by the rising need for safe and secure packaging solutions. Packaging peanuts, also known as loose fill or foam peanuts, are made from expanded polystyrene (EPS) or biodegradable materials such as starch. They are commonly used to fill empty spaces in packages, protecting fragile items from damage during transit.
Packaging Peanuts Market: An Overview
Packaging peanuts, also known as foam peanuts or Styrofoam peanuts, are lightweight, cushioning materials widely used for packaging fragile items. These small, peanut-shaped pieces are made from expanded polystyrene (EPS) or biodegradable materials, such as starch-based polymers. The Packaging Peanuts Market has witnessed significant growth in recent years, driven by the rising demand for efficient and sustainable packaging solutions across various industries.
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Key Takeaways from Packaging Peanuts
- Based on material, the starch-based polymers segment is expected to register a CAGR of 5.1% during the forecast period.
- By application, the void-filling segment is projected to expand by 1.8x the current market value during the forecast period.
- Based on end use, the electrical & electronics and furniture & home décor segments are collectively projected to hold around 61% of the market value share by the end of 2022.
- Europe and North America together hold the largest share of the global packaging peanuts market and the trend is expected to continue over the next ten years.
- The U.S. packaging peanuts market is expected to grow 1.5 times the current market value during the forecast period.
- India holds around 46% share of the South Asia packaging peanuts market.
“The need for protective and safe packaging for delivering the products with minimum shipping and labor cost and the rapidly growing e-commerce market are emerging as key factors expected to boost the packaging peanuts market. Also, growing popularity of the 100% recycled packaging peanuts will create a growth opportunity for the target market over the next ten years,” – says an FMI analyst
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Factors Driving the Packaging Peanuts Market
The Packaging Peanuts Market growth can be attributed to several factors, including:
- E-commerce Expansion: With the rapid growth of e-commerce, the demand for packaging materials like packaging peanuts has increased. Online retailers need reliable packaging solutions to ensure their products reach customers in optimal condition.
- Consumer Electronics Industry: The consumer electronics industry relies heavily on packaging peanuts to protect delicate electronic devices, such as smartphones, laptops, and tablets. The increasing sales of consumer electronics contribute to the growth of the Packaging Peanuts Market.
- Logistics and Shipping: The logistics and shipping sectors are major consumers of packaging peanuts. These materials help prevent damage to goods during transportation, reducing the risk of returns or customer dissatisfaction.
- Sustainability: The market has witnessed a shift towards environmentally friendly packaging solutions. Biodegradable packaging peanuts made from renewable materials are gaining popularity due to their reduced environmental impact.
Who is Winning?
- Storopack Hans Reichenecker Gmbh,
- Willard Packaging Company,
- Styro Insulations Mat. Ind. LLC.,
- Nefab Group,
- Stream Peak International PTE Ltd., and
- Styro Insulations Mat. Ind. LLC
are the key players operating in the packaging peanuts market. Also, some of the other noticeable players in the market include
- Test Valley Packaging,
- Pioneer Packaging,
- Puffy Stuff Inc.,
- President Container Inc.,
- AP Packaging Corp, and
- others
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Packaging Peanuts Industry by Category
By Material:
- Expanded Polystyrene
-
- Virgin
- Recycled
- Starch-based Polymers
By Application:
- Cushioning
- Void Filling
By End Use:
- Electrical & Electronics
- Automotive & Allied Industries
- Construction & Building
- Pharmaceuticals
- Furniture & Home Décor
- Other Consumer Goods
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