Bubble Wrap Packaging Market to Ascend USD 4.78 Bn by 2033

The global bubble wrap packaging market size is estimated to reach USD 4.78 billion by 2033, up from USD 3.42 billion in 2023, at a compound annual growth rate (CAGR) of 3.52% from 2024 to 2033.

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The bubble wrap packaging market is set to grow prominently during the forecast period. One of the most often used forms of protective packaging is the innovative bubble wrap. As bubbles provide soft cushioning, including them in well-packaged objects is an easy and highly effective technique to safeguard items that are fragile during shipping, relocation, and storage. Bubble wrap is a very adaptable material that may be used to safeguard everything from huge, fragile things to smaller lightweight items. It comes in many sizes and varieties. Bubble wraps works well as an insulator in addition to being ideal for safeguarding objects. The use of bubble wrap as an insulator has various benefits. Moreover, bubble wrap can also be reused for multiple times, based upon its condition and the strength of the bubbles.

The surge in e-commerce activities and the increasing focus on consumer satisfaction in addition to the growing need for product protection is expected to augment the growth of the bubble wrap packaging market during the forecast period. Furthermore, the advancements in bubble wrap technology coupled with the rising awareness of sustainability are also likely to support the growth of the market. Additionally, growth in international trade and logistics as well as the growing demand from various end-users like manufacturing, retail, pharmaceuticals and electronics is also projected to contribute to the growth of the market in the years to come. The global packaging market size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.

Key Trends and Findings

• According to the Ranpak’s online survey, 92% of the Americans had goods delivered during the previous holiday season, demonstrating the continued popularity of the online shopping and packaging preferences in 2021. Most of the Americans are expected to shop more via online channels and are anticipated placing more food orders in future. When making a purchase, 68 percent of American consumers are more inclined to choose a retailer who offers plastic-free options at the point of purchase than one who does not.
• It’s well-established that buyers are prepared to pay extra for packaging that is more sustainable. Indeed, data from Trivium’s Buying Green Report for 2023 shows that 82% of participants would be prepared to pay extra for environmentally friendly packaging overall. For those in the 18–24 age range, which is an important demographic for companies expanding their e-commerce operations, that percentage jumps to 90%.
• Introducing compostable and biodegradable bubble wrap substitutes is one way to control the disposal of the bubble wrap. These inventions frequently make use of the naturally decomposing materials such as the recycled paper or cornstarch that originate from renewable sources and prevent waste from ending up in landfills. Certain firms have created bubble wrap that decomposes in industrial compost facilities when subjected to specific circumstances.
• Using bubble wrap that is 100% recyclable and has a greater proportion of the recycled material is another trend. This kind of product can be disposed of correctly by the customers as well as companies since it can be incorporated into the current recycling streams. Additionally, several packaging manufacturers have made investments to produce bubble wrap which can be utilized repeatedly for various applications, increasing its life cycle and minimizing the requirement for the manufacturing of new materials.
• Asia-Pacific is expected to grow at a CAGR of 5.51% during the forecast period owing to the consumers demand for convenient and secure packaging solutions, rising food and beverage industry vertical and the rising middle-class population.
• North America held market share of 28.71% in 2023. This is due to the advanced zipper technologies and stringent regulatory standards along with a significant presence of major packaging companies and a trend towards sustainable packaging.

Bubble Wrap Packaging Market Drivers

Growing E-commerce Industry

The growing e-commerce sale is likely to support the growth of the market during the forecast period. According to the latest data by Adobe Analytics, from January 2024 to April 2024, customers spent $331.6 billion on online shopping, a 7% increase YoY. Spending in segments like clothes and electronics has contributed to the surge. Adobe projects that over $500 billion in online spending is expected in the initial half of the 2024, indicating a 6.8% YoY growth. Consumers spent $61.8 billion on the electronics (up 3.1% YoY) along with $52.5 billion on the clothing (up 2.6% YoY) over the internet in the first four months of the year. The percentage of the cheapest products rose noticeably in a number of categories that include electronics (up 64%), clothing (up 47%), furniture and bedding (up 42%) and groceries (up 33%).

Additionally, as per the Prime day event data released by Adobe Analytics in July 2024, over the course of the two-day event, online sales for the electronics category increased by 61 percent. Products that have contributed to this increase include tablets (up 117 percent), fitness trackers (up 88 percent), smartphones (up 71 percent), laptops (up 80 percent) and cameras (up 60 percent), among other products. Bubble wrap provides delicate objects with impact-absorbing and damage-resistant protection. Bubble wrap is an essential component of the e-commerce packaging, much like packing paper. Additionally, the anti-static bubble wrap is made especially for packaging the electronic components and gadgets. Its air-filled bubbles protect the wrapped product from physical damage, while its anti-static characteristic protects its electronic products from any possible electrostatic discharge. Unlike normal bubble wrap, it does not generate the static electricity.

Bubble Wrap Packaging Market Restraints

Environmental Concerns and Availability of Various Substitutes

Polymer film made of plastic is used to make bubble wrap. This kind of plastic is renowned for its durability. However, it might take several centuries for it to decompose after disposal and it is poisonous as well as harmful to the environment. Hormone-disrupting substances and dangerous microplastics continue to infiltrate into the nearby land and water from these plastics. Earthday.org research indicates that about 380 million metric tons of plastic are produced year worldwide. Globally, only about 9% of this plastic is recycled, meaning that an astounding 91% of it ends up in landfills. The utilization of the bubble wrap adds more plastic to the landfills and waterways along with other single-use plastic objects like straws, shopping bags and water bottles. This is an increasingly pressing problem. There is no way to recycle this kind of plastic. Even while it works well to keep things safe and undamaged, it is usually only reusable for a limited amount of time before being disposed of in a landfill or other disposal site. For this reason, it is an unsustainable method of product packaging.

Furthermore, the eco-friendly bubble wrap alternatives are also likely to hamper the growth of the market. For instance, one of the most extensively used recycled packaging materials is paper. Therefore, it makes perfect ecological sense to use recycled paper for the products packaging. There are lots of possibilities available. To package items safely, one can either repurpose any available paper source or invest in packaging made by corrugated paper which is 100% recyclable and reusable on its own and is frequently created from recycled materials. Also, the cornstarch-based bioplastics is a great, environmentally friendly substitute for bubble wrap. As it is entirely biodegradable and made from an organic, renewable source, it is becoming more and more popular across a wide range of companies.

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