The competitive landscape in the global
dunnage air bags is highly fragmented, notes Transparency Market
Research. Some of the leading companies in the market are Cordstrap B.V,
Bates Cargo-Pak ApS, Bulk-Pack, Inc., Stopak India Pvt. Ltd., and Green
Label Packaging. Most of the players in the global dunnage air bags market are expected to widen their product portfolio and invest in mergers and acquisition to widen their geographic reach.
According to Transparency Market
Research, the global dunnage air bags market was worth US$404.3 mn in
2016 and is expected to reach US$614.6 mn by the end of 2025. During the
forecast period of 2017 and 2025, the global dunnage air bags market is
expected to surge at a CAGR of 4.8%. Out of the various materials used
for making dunnage bags, the kraft paper segment is projected to
dominate the global market. This segment is anticipated to exhibit a
CAGR of 5.4% during the forecast period. Regionally-speaking, Asia
Pacific has been identified as a segment regional market. As of 2017
Asia Pacific held a share of 27.9% in the global dunnage air bags
market. This trend is projected to continue in the coming years as well.
Increasing Import and Export Activities to Spike Demand
Dunnage air bags have come a long way
since their introduction in the early 1970s. They have made a tremendous
contribution to the overall transportation industry, thereby boosting
trade opportunities. Over the years, production of dunnage bags has
witness a significant change. The consistent efforts to bring in an
eco-friendly characteristic to the make of dunnage air bags has won the
attention of many end users. Growing uptake of kraft paper, which is a
perfectly reusable and a recyclable material is projected to augment the
growth of the global market during the forecast period. The high load
bearing capacity of kraft paper has also been a value addition to the
use of this material in the production of dunnage air bags.
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Today, dunnage bags are extensively
being used for the transportation of commodities, electrical &
electronics, consumer goods, foods and beverages, and many other
products. Thus, the increasing production of goods, which is highly seen
in the developing parts of the world, has significantly pushed the
market to achieve new heights. Along similar lines, by the end of 2025,
Asia Pacific is expected to hold a lion’s share in the global dunnage
air bags market. Increasing import and export of fragile cargo, uneven
loading processes, stressful situations in transportation, and damaging
weather conditions have also prompted end users to opt for dunnage air
bags to safeguard their goods from potential damage.
The increasing awareness amongst users
to insure their goods at the time of purchase has also upped the demand
for dunnage air bags in recent years. Booming e-commerce and flourishing
cargo and logistics industry are also noted as key growth drivers for
the global market.
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