The global inflatable packaging market is highly competitive in nature and is extremely fragmented, owing to the presence of a large number of players operating in it across the globe, states a new market intelligence study by Transparency Market Research.
The key players operating in the inflatable packaging market are A E Sutton Ltd., Uniqbag LP, Aeris Protective Packaging Inc., Airpack, and Easypack Ltd. Some of the other key players in the market are Storopack Hans Reichenecker GmbH, Pregis Corp., Smurfit Kappa Group, Macfarlane Group plc, Sealed Air Corp., FROMM Packaging Systems Inc., Green Light Packaging Ltd., Omniverse Foster Packaging Group, Automated Packaging Systems Inc., Inflatable Packaging Inc., Polyair Inter Pack Inc., Advanced Protective Packaging Ltd., and Free-Flow Packaging International Inc. The rising number of mergers and acquisitions and the growing focus on development of new business strategies are projected to enhance the overall growth of the market in the next few years.
According to the market research study by Transparency Market Research, the global market for inflatable packaging is likely to witness promising growth in the next few years. In 2016, the global market for inflatable packaging was worth US$1.9 bn and is projected to reach a value of US$3.1 bn by the end of 2025. The market is estimated to register a healthy 6.0% CAGR between 2017 and 2025.
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North America to Register High Growth and Lead Global Market
The global market for inflatable packaging has been categorized on the basis of geography into Asia Pacific, the Middle East and Africa, Europe, Latin America, and North America. In the last few years, North America led the global market and is likely to continue with the same position throughout the forecast period. Europe is predicted to stand on the second position in terms of market share. According to the research study, this region is predicted to register a steady 4.0% CAGR between 2017 and 2025. Furthermore, Asia Pacific is likely to display a promising growth rate in the next few years, owing to the growth prospects in several emerging nations.
On the basis of packaging type, the bubble wrap segment is estimated to witness high growth throughout the forecast period. This segment is projected to account for more than two third of the overall market in the coming few years.
The rising demand for packaging of champagne, wines, and spirits is further predicted to encourage the growth of the inflated packaging bags in the next few years. In terms of end use, the e-commerce segment holds promising growth opportunities for the market players in the next few years. Furthermore, the shipping and logistics is likely to register a healthy growth in the near future.
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Cost-effective Products Offered by Inflatable Packaging Solutions to Encourage Market Growth
The growing demand for protective packaging solutions is one of the major factors anticipated to encourage the growth of the global inflatable packaging market in the next few years. The inflatable packaging products are highly effective in terms of stabilizing and security during transportation, which is likely to accelerate the growth of the overall market in the coming few years.
In addition to this, the low cost of these products is considered as one of the other key factors predicted to enhance the growth of the overall market in the next few years. Furthermore, the rising awareness among people regarding the eco-friendly characteristics of inflatable packaging products is likely to generate promising growth opportunities for the market players throughout the forecast period.
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