Global Air Cushion Packaging Market 2019-2023 | 8% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Apr 15, 2019--The global air cushion packaging market 2019-2023 is expected to post a CAGR of 8% during the forecast period, according to the latest market research report by Technavio.
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The global air cushion packaging market will post a CAGR of 8% during the period 2019-2023 (Graphic: Business Wire)
Air cushion packaging is replacing bubble wrap packing as it is cost effective and occupies 80% less space in warehouses. Traditional bubble wraps are easy to pop and can damage the packaged products. Air cushion packaging has a series of connected bubbles that allow air to transfer between cells and offers better protection. The increased use of air cushion packaging as an alternative to traditional bubble wraps will drive the market’s growth during the forecast period.
This market research report on the global air cushion packaging 2019-2023 also provides an analysis of the most critical trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a significant factor that has the potential to significantly affect the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing adoption of sustainable air cushion packing as one of the key emerging trends in the global air cushion packaging market.
Global air cushion packaging market: Increasing adoption of sustainable air cushion packaging
The rising environmental concerns are pushing many brand owners to adapt to sustainable packaging solutions. This is forcing many vendors to manufacture environment-friendly products. For example, Automated Packing Systems’ EarthAware air pillows are made of strong, polyethylene-based material that is biodegradable. Similarly, AIRplus BIO from STOROPACK HANS REICHENECKER is made of corn and potato starch collected from food production waste. The growing trend of adopting such sustainable air cushion packaging boost the market’s growth.
“Several vendors are offering custom air cushion packaging to improve the customer’s unboxing experience. For instance, AIRplus Wrap from STOROPACK HANS REICHENECKER has a diamond shape structure. Pregis offers square shaped pillows to reduce material consumption with a pleasing aesthetic look. Such products will improve the customer experience, thereby driving the market’s growth”, says an analyst at Technavio.
Global air cushion packaging market: Segmentation analysis
This market report segments the global air cushioning market by end-user (consumer goods, food and beverages, electronics, personal care and household, and pharmaceutical) and geography (APAC, Europe, MEA, North America, and South America).
APAC led the market in 2018 with a market share of nearly 31%, followed by North America, Europe, South America, and MEA respectively. The dominance of APAC can be attributed to the rapidly expanding end-user industries such as e-commerce, FMCG, and personal care.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS PACKAGING ENVIRONMENT
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 04/15/2019 11:00 AM/DISC: 04/15/2019 11:00 AM