Packaging plays an important role for attracting the customers towards the product offered by the manufacturers. Apart from that, packaging is also used for protection during transportation, identification as well as it aids to differentiate from the competitors’ products available in the market. Air bags packaging is one of the most popular packaging solutions adopted by food & beverages, pharmaceutical and electronics product manufacturer. The demand for air bags packaging is gaining traction, owing to its light weight and its flexible nature to pack different product forms in same pack format.
Air bags Packaging: Market Dynamics
Global air bags packaging market is primarily driving by the increasing growth in e commerce industry as air bags packaging is used widely preferred packaging solutions in the e commerce industry. Also, air bags packaging is anticipated to be driven by the growing demand of third party logistics across the globe. Third party logistics providers focus in warehousing, integrated operation, and transportation services. Third party logistic providers are adopting air bags packaging for packaging solutions. Moreover, air bags packaging minimizes the shipping costs of the manufacturer owing to the property of its light weight. Air bags packaging is extensively used for packaging consumer durable products that in turn accelerates the demand of air bags packaging market during the forecast period.
Furthermore, mounting growth of pharmaceutical industry is positively influencing the demand of air bags packaging market. Air bags packaging is used as packaging solution for automotive parts which is expected to further propel the growth of air bags packaging in the upcoming decade. Air bags packaging is also used in the beverages packaging especially for wine that is expected to intensify the growth of the market. Over the past few year, air bags is used as a packaging solution for industrial goods. But some government regulations regarding the usage of plastic can pose a challenge for the air bags packaging market. Manufacturers of air bags packaging are now using biodegradable plastic as an alternative material.
Air bags Packaging Market: Key players
Some of the key players in the global air bags packaging market are Airpack, S.p.A, Inflatable Packaging, Inc., Smurfit Kappa Group Plc., and Bayer Corporation etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
Air bags packaging Market: Regional outlook
In terms of geography, the global air bags packaging market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North America is expected to remain its dominance during the forecast period owing to the huge growth of pharmaceutical along with the healthy growth of cosmetic & personal care industry. Europe is also expected to witness slightly slower growth due to the mature market. Asia pacific region is anticipated to register highest CAGR as compare to the other region due to the healthy growth of e commerce industry in developing economies. But Latin America and Middle East & Africa region is expected to witness very slow growth in the next decade.
