The global inflatable packaging market is extremely fragmented and competitive, as only a few dominant players, who collectively account for a small share of the overall market, states a new report by Transparency Market Research (TMR). Established players are likely to partner with smaller players in order to strengthen their product portfolio. Pregis Corp., Smurfit Kappa Group, Storopack Hans Reichenecker GmbH, Sealed Air Corp., FROMM Packaging Systems Inc., Macfarlane Group plc, Omniverse Foster Packaging Group Automated Packaging Systems Inc., Green Light Packaging Ltd., Polyair Inter Pack Inc., Advanced Protective Packaging Ltd., Inflatable Packaging Inc., Free-Flow Packaging International Inc., Aeris Protective Packaging Inc., A E Sutton Ltd., Uniqbag LP, Easypack Ltd., and Airpack are some of the leading players in the worldwide market for inflatable packaging, states the research report.
According to the estimation of the report, the global market for inflatable packaging, which stood at US$1.9 bn in 2016, is likely to rise at a CAGR of 6.0% during the period from 2017 to 2025 and reach a value of US$3.1 bn by the end of the forecast period. The demand for PE packaging solutions is relatively higher that other types of inflatable packaging solutions. Researchers anticipate this trend to remain so over the next few years. Regionally, North America has emerged as the leading market for inflatable packaging and is anticipated to continue on the top over the forthcoming years. In terms of volume, the North America market for inflatable packaging is likely to cross 1,067.6’000 tons market by 2025 end. Europe is expected to follow North America closely and also report a steady rise in its market in the near future, notes the study.
“The global market for inflatable packaging is gaining significant impetus from the increasing trend of protective packaging solutions,” says an analyst at TMR. As inflatable packaging solutions are highly efficient in stabilizing and securing product during transportation, their demand is likely to increase substantially over the next few years. The low cost of inflatable packaging solutions is also projected to stimulate their adoption in a number of application over the next few years, mirroring a positive rise in this market.
Apart from this, the eco-friendly characteristics of inflatable packaging solutions over other bulkier alternatives, such as loose-fill peanuts and paper cushioning, are strengthening this market considerably, states the research report.
Rise in Online Retail to Boost Market’s Growth
Going forward, the tremendous rise in online retail, thanks to the increasing number of Internet users across the world, is expected to add to the growth of the worldwide market for inflatable packaging noticeably over the next few years. The capability of inflatable packaging to absorb shock, offering a high level of protection to products, is also projected to support the market substantially in the years to come, reports the market study.