Global Bubble Wrap Packaging Market to Hit USD 10.73 Bn Mark till 2023, Says MRFR in Its Topical Report Published at MarketPublishers.com07 Sep 2017 • by Natalie Aster
LONDON – Driven by such favourable factors like surging online retailing, wide availability of biodegradable bubble wrap and robust growth in the electronic sector, the world’s bubble wrap packaging market is predicted to gain traction in the tear ahead, demonstrating a CAGR of slightly over 7%. During 2016-2023, this market is set to grow from USD 6.82 billion in 2016 to climb to USD 10.73 billion. However, the market growth can be significantly restrained by such challenges as enhancing competition from alternative packaging solutions.
On the basis of materials, the overall marketplace is dominated by the polythene segment, which is expected to grow at the fastest pace (a 7.68% CAGR) up till 2023.
When it comes to products, the bubble rolls segment is an absolute market leader. This segment is set to be the most rapidly growing market segments through 2023, enjoying a CAGR of 7.23%.
As for applications, the e-commerce segment grabs the biggest share of the bubble wrap packaging market; this sector is predicted to maintain the leading position registering the highest CAGR of 7.67% in the coming years.
At present, APAC remains the leading regional market for bubble wrap packaging. It is followed by North America. The APAC region is set to maintain its dominance and grow further at high rates, driven by surging disposable incomes and remarkable uptake in the e-commerce sector in the region. China is the key contributor to the APAC market growth due to its strong economic growth, rising online retail sector and swift urbanisation.
All-encompassing research report prepared by Market Research Future (MRFR), “Global Bubble Wrap Packaging Market – Trends & Forecast, 2017-2023”, offers an insightful analysis of the current situation in the marketplace, touches upon historical development patterns, provides reliable data on the market structure and segmentation (by materials, products, applications and regions), describes competitive environment and reviews new products launches and the recent JVs, M&A, R&D activities, strategic alliances, etc. The research report delves into the market dynamics, focuses on the main market growth drivers and restrains, provides an insightful overview of the industry value chain, comprises Porter’s five force analysis, and uncovers top-level market intelligence. Moreover, the publication identifies the dominant market players and presents valuable info on their performance. Additionally, future forecasts through 2023 are also included in the report.
Visit the MRFR catalogue to get access to many other in-demand research reports worked out by this publisher.