As per Future Market Insights, the adhesive bubble wrap market is anticipated to attain a value pool of US$ 2.5 billion by 2023-end. Global demand for adhesive bubble wraps is expected to rise at a CAGR of 4% to US$ 3.7 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 2.5 billion |
| Projected Market Value in 2033 | US$ 3.7 billion |
| Growth Rate (2023 to 2033) | 4% CAGR |
The growing demand witnessed in the e-commerce and pharmaceutical sectors has resulted in the worldwide acceptance of adhesive bubble wrap as a safe and cost-effective packaging solution. Made up of transparent plastic material adhesive bubble wrap has consistent air-filled hemispheres which are primarily used to protect the product while transiting.
The sticky adhesive enables the to stick to the product being packaged by eliminating the use of tape. Also, this type of packaging is easily removable, leaves no residue, and is highly durable in nature.
The retail industry along with the booming electronics & electrical industry has been constantly driving the demand for bubble wrap packaging to enhance the safety of high-value products.
The significant rise of online shopping and rising demand for reducing wastage or damage to the product while shipping it from one destination to other, makes adhesive bubble wrap a solution to all those transportation problems. The factor driving the global adhesive bubble wrap market for upcoming years will be the ease of wrapping odd-shaped surfaces with the help of adhesive protective packaging for various applications.
The adhesive bubble wraps are made up of plastics, but plastic is a material harming the environment, which negatively impacts the demand for bubble wraps. Also, the various stringent laws by governments across the globe to restrict or limit the usage of plastics hamper the growth of bubble wraps.
The increasing usage of bubble wraps in shipping various types of gift items saves it from the robust atmosphere as well as external pressure. The usage of adhesive bubble wraps in pharmaceutical applications of safekeeping high-value drugs & chemicals used in medical applications is set to boost the demand for adhesive bubble wraps in volumes for the upcoming period.
The countries of China and India are going to dominate the adhesive bubble wrap market globally due to increased penetration of e-commerce and the internet in the regions, along with the rising purchasing power of the people. Both these countries being the largest consumer economies are set to push the global adhesive bubble market upwards by keeping their dominance in consumption and production combined.
The USA has been a pioneer of e-commerce as well as the consumer goods business right from the beginning, so the rising electronics & electrical industry along with the pharmaceutical industry will contribute to the exponential growth of the adhesive bubble wrap market over the forecasted period. The rising consumer preferences for hassle-free and safe packaging will boost the demand for bubble wrap as a packaging solution.
The staggering automotive and personal care industry, along with the booming e-commerce industry will be key to the growth of the adhesive bubble wrap industry in the German market. But the stringent laws of the ban on single-use plastics and limiting usage by the European Union may hamper the growth of bubble wraps in Germany.
During the outbreak of deadly virus all over the world, only the production and shipping of essential items were allowed during the lockdown throughout the world. But the e-commerce business recorded the maximum growth during the whole world forced to shop from home, due to the risk of contamination.
Also, the pharmaceutical industry was in boom due to the high demand for medical supplies as well as equipment, for all these end-user industries adhesive bubble wrap acted as an optimum packaging solution.
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Adhesive Bubble Wrap Market
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