LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global air cushion packaging market is expected to grow at a CAGR of more than 8% through 2021.
This research report titled ‘Global Air Cushion Packaging Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The growth of the global packaging market owing to technological innovations, rising advances in manufacturing processes, and growing consumer demands will boost the growth of the market in focus. The air cushioning packaging industry valued more than USD 5.5 billion in 2016. Consumers are changing their perceptions regarding protective packaging because encasings such as air cushion packaging are sustainable, easy to use, and biodegradable.
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Technavio’s analysts categorize the global air cushion packaging market into five major segments by end user. They are:
- Consumer goods
- Food and beverage
- Electronics industry
- Personal care industry
- Pharmaceutical industry
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The top three end-user segments of the global air cushion packaging market are discussed below:
Global air cushion packaging market by consumer goods industry
Consumer packaged goods (CPG) accounted for more than USD 10.3 billion in 2016. There was an increased demand for pet care, health supplements, and cosmetics products, belonging to the CPG category, from the online sector. Each product category accounted for around USD 1.2 billion in terms of sales in 2016. The transportation of these product categories triggered the demand for air cushion packaging worldwide in 2016.
According to Sharan Raj, a lead packaging research analyst from Technavio, “Total CPG was valued at around USD 7.5 billion in 2015, with a tremendous increase in output in 2016. Unlike food products, the demand for CPG is constant throughout the year, therefore, the demand for air cushion packaging is constantly increasing. Consumers are increasingly becoming particular and cautious even about the packaging along with the products that are delivered.”
Global air cushion packaging market by food and beverages industry
The consumption of healthy foods, including fruits, vegetables, and eggs increased by around 60% in 2016 from the previous year. This, in turn, boosted the growth of the packaging market. These food products generally require flexible protective packaging while being transported. Owing to the increase in single-person households, which was around 290 million in 2016, there is an ongoing trend of ordering food from eateries.
“The trend of ordering food is the hectic everyday schedule, which is leaving people with no or less time to cook food. Also, many of the restaurants across the globe have capitalized on this requirement and have online platforms from where customers can place an order for the food of their choice. This type of service also requires restaurateurs to deliver food to customers on time without food spoilage,” says Sharan.
Global air cushion packaging market by electronics industry
Electronic devices need packaging materials to stay protected from environmental and physical damage during transportation and storage. Most types of packaging such as plastic and corrugated boxes provide protection. However, they may also cause some damage to the static-sensitive electronic items by discharging static electricity between two gadgets or electronic products.
Air cushions are inflated "on demand." As a result, spaces in warehouses are effectively occupied. These air cushions are biodegradable in nature. Therefore, for the companies of electronics products to adhere to government regulations to address environmental concerns, air cushions are being extensively adopted in the electronics industry.
The top vendors highlighted by Technavio’s research analysts in this report are:
- DynaCorp
- Pregis
- Sealed Air
- Smurfit Kappa
- Storopack
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