CLEVELAND, July 22, 2020 /PRNewswire/ — US demand for bubble packaging is forecast to rise 4.0% to nearly $850 million in 2024, according to a new Freedonia Group analysis. Sales gains will be driven by:
- key product advantages of bubble packaging, including its competitive cost structure, reduced messiness (compared to loose fill), and ability to be used with smaller packages
- the development of innovative bubble packaging products, such as onsite inflatable and recyclable types
- strong growth in e-commerce activities and an expanding share of products shipped as individual parcels rather than as part of bulk shipments
E-commerce demand for bubble packaging to outpace all other markets
Sales of bubble packaging for e-commerce applications is expected to outpace all other outlets for bubble packaging, as consumers become increasingly comfortable ordering items online. In addition, e-commerce sales are surging amid the COVID-19 pandemic, accelerating the ongoing shift away from traditional brick-and-mortar retail to e-commerce:
- Higher value items in particular require added protection and thus more packaging to ensure safe transport.
- Consumers opting for e-commerce, due to the added convenience of not having to go to the store, increases the number of packages shipped and thus demand for protective packaging.
- Growth in onsite inflatable bubble packaging will create further opportunities in the e-commerce market.
However, faster growth will be limited to an extent by the increasing popularity of BOPIS (buy online, pick up in store) transactions, which generally do not require use of protective packaging because these items are not being shipped.
Sustainability trends affecting product development
A push for more sustainable protective packaging is supporting efforts to develop more environmentally friendly bubble packaging. Bubble packaging made from recycled content and that is recyclable at specific drop-off locations, for example, will help bubble packaging remain more competitive with other sustainable options such as molded pulp and paperboard protectors.
Want to learn more?
Bubble Packaging is now available from the Freedonia Group. This study examines the US market for bubble packaging by the following markets:
- manufacturing (durable goods and nondurable goods)
- retail and other markets (e.g., direct-to-consumer mail-order shipments)
Historical data (2009, 2014, and 2019) and forecasts for 2024 are presented for bubble packaging demand in current US dollars (including inflation) and in pounds. A number of related packaging studies are also available, including US Protective Packaging and Global E-Commerce Packaging.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group