Packaging Peanuts Market: An Overview
Packaging peanuts has emerged as an essential product segment in protective packaging solutions. Packaged goods are protected with various protective packaging solutions such as die packaging inserts, electrostatic discharge (ESD) foams, cut inserts, packaging peanuts, etc. Packaging peanuts are protective packaging solutions prominently manufactured using expanded polystyrene foam (EPS), biodegradable materials, and are cut in peanut design to better suit packaging requirements. Packaging peanuts are used to fill up the void spaces for extended product protection and to prevent the product from vibrations and shock during shipping and transportation. The shape of the protective packaging solution matches with a peanut therefore it is known as packaging peanuts. The demand for protective packaging solutions is tremendously increasing with the growing e-commerce market. Packaging peanuts find application in various end-use industries such as electrical & electronics, e-commerce packaging, and consumer goods, among others. Packaging peanuts are used to provide extra product protection and to prevent any damage during shipping and transportation. The global market for packaging peanuts is expected to expand substantially during the forecast period.
Packaging Peanuts Market: Drivers and Restraints
Key benefits offered by packaging peanuts are shock protection, efficient packaging, flexible packaging & storage, cost-effective void fill packaging, and bio-degradable disposal, among others. Substantial growth during the forecast period is expected to rise prominently from the demand for cushioning and void fill packaging of valuable goods during storage and transport. Protective packaging solutions such as foam packaging inserts are widely used for their effective functionality in providing cushioning and protection. Foam packaging inserts are costlier as compared to packaging peanuts. Owing to the ease of filling up void spaces in packaging, packaging peanuts are expected to continue to gain traction in the market. Packaging peanuts are tightly packed when compressed and free flow when not compressed. Apart from the effective protection it provides but has a require more warehouse space as compared to other protective packaging solutions such as air pillows (before air filling) or shredded paper etc. Packaging peanuts can’t be kept compact before use and require a designated amount of space. However, the increasing demand for void and compact filling is anticipated to fillip the growth of packaging peanuts in the global market.
Despite the positive outlook, some factors are affecting the growth of the packaging peanuts market globally. The availability of alternative protective packaging solutions such as bubble wrap, paper cushioning, shredded paper, foam inserts, etc. is giving strong completion to packaging peanuts in the global market. The availability of alternative solutions might hamper the growth of the global packaging peanuts market during the forecast period.
Packaging Peanuts Market: Regional Outlook
Geographically, the global market for Packaging Peanuts has been divided into seven key regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. Asia Pacific market is expected to spearhead in terms of consumption of protective packaging solutions which in turn expected to bolster the demand for packaging peanuts in the next couple of years.
Packaging Peanuts Market: Key Players
Key players operating in the global packaging peanuts market are President Container Inc., Puffy Stuff, Storopack Hans Reichenecker GmbH, Sealed Air Corp, AP Packaging Corp., and Nefab Group. Many local and unorganized market players are contributing to the global Packaging peanuts market during the forecast period.
The packaging peanuts market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Packaging Peanuts Market: Segmentation
The global packaging peanuts market is characterized by a supply of protective packaging products that replace alternative protective packaging products such as shredded paper or packaging inserts. The global packaging peanuts market is characterized based on material and end-use.
On the basis of material, the global packaging peanuts market has been segmented as:
- Corn Starch
On the basis of end-use, the global packaging peanuts market has been segmented as:
- Food and Beverages
- Electrical & Electronics
- Healthcare & Pharmaceutical
- Personal Care and Cosmetics
- Consumer Goods
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