New York (US), May 25, 2023 (GLOBE NEWSWIRE) -- Bubble Wrap Packaging Market Overview
The MRFR study reports imply that the “Bubble Wrap Packaging Market Research Report Information by Product, Region, and Application - Forecast Till 2030”, the global “Bubble wrap packaging market research predicts that the market is likely to bolster substantially during the review era from 2023 to 2030 at a substantial growth rate of around 8.1%. The reports further predict that the Bubble wrap packaging market size will be nearly USD 05 Billion by the end of 2030. As per the study reports, the market was worth nearly USD 3.1 Billion in the year 2023.
Market Scope:
The global Bubble wrap packaging industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the increase in demand for consumer goods across the globe. Furthermore, the increasing demand for protective packaging materials in various end-use industries is also considered to be one of the crucial parameters enhancing the performance of the market across the globe.
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Competitive Analysis
The listing of the prominent leaders across the global market for Bubble wrap packaging includes players such as:
- Automated Packaging System
- Veritiv Corporation
- IVEX Protective Packaging Inc
- Sealed Air Corporation
- Barton Jones Packaging Ltd.
- Jiffy Packaging Co.
- Smurfit Kappa
- Pregis Corporation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 05 Billion |
| Compound Annual Growth Rate (CAGR) | 8.1% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing need for the housing and lodging sector with the rapid industrialization |
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Market USP Covered
Market Drivers
The global Bubble wrap packaging industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the increase in demand for consumer goods across the globe. Furthermore, the increasing demand for protective packaging materials in various end-use industries is also considered to be one of the crucial parameters enhancing the performance of the market across the globe. Moreover, factors such as the increasing demand for eco-friendly & biodegradable bubble wrap materials, the growing popularity of online shopping, and surge in demand for safe & secure packaging materials for essential goods are also projected to positively influence the market performance over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated. Furthermore, the elevated likelihood of accidents is also projected to restrict the market's development.
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COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Bubble wrap packaging market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Segment Analysis
Among all the products, the High-Grade Bubble Wraps segment secured the leading position across the global bubble wrap packaging market in 2022. Since high-grade bubble wraps are usually used for more demanding packaging applications, such as medical equipment and protecting fragile electronic devices during shipping, the segment is predicted to hold the top market.
Among all the application areas, the e-commerce segment secured the leading position across the global bubble wrap packaging market in 2022. The main parameter supporting the segment's expansion is the growth of online shopping, causing a rise in demand for protective packaging materials such as bubble wrap.
Regional Analysis
The global market for Bubble wrap packaging is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the Asia-Pacific region is anticipated to secure the top position across the global Bubble wrap packaging industry over the coming years. The region has China and India as the leading growth contributors. The main parameter supporting the regional market expansion is the increasing demand for protective packaging materials in several end-use sectors, such as e-commerce, healthcare, and electronics, given mainly to the rapid growth of these industries in emerging nations.
The European regional market for Bubble wrap packaging is anticipated to secure the second position globally over the assessment period. The escalated demand for eco-friendly protective packaging is the main parameter supporting the regional market expansion. The region has Germany as the leading growth contributor with the largest revenue share. On the other hand, the UK Bubble Wrap Packaging market is anticipated to showcase the maximum growth rate over the coming years.
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The North American regional market for Bubble wrap packaging is projected to ensure considerable development over the review timeframe. The main parameter supporting the regional market expansion is the escalating demand for electronic items and packaged products, including packaged foods generate significant demand around the region. Furthermore, the greater penetration of e-commerce companies is also believed to be one of the crucial parameters enhancing the performance of the regional market. The region has the US as the leading growth contributor with the largest revenue share. On the other hand, the Canadian Bubble Wrap Packaging market is anticipated to showcase the maximum growth rate over the coming years.
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