Void Fill Pillows Market Outlook
Widespread utilization of void fill pillows in the shipment of merchandise stimulating the expansion of the void fill pillows market
The market for Void fill pillows is continuing to expand as a result of burgeoning cross-border trade and producers' broadening geographic coverage, and the importation of merchandise commodities is rising rapidly. Packaging manufacturers are creating new packaging solutions to address these companies' transport demands.
According to our research, the global packaging business has been expanding rapidly against the backdrop of technological innovation in the packaging industry. The global packaging market is estimated to be valued at over Mn 820 US dollars and is presumed to grow at a CAGR of more than 4.5% during the projected timeline. The widespread use of void fill pillows in goods transportation is stimulating the expansion of the void fill pillows market.
Other factors supporting the growth of the void fill pillows market encompass rising e-commerce penetration, particularly in developing economies. The printability of void fill pillows increases the manufacturer's appeal because it allows them to enhance their visibility and brand image in the marketplace.
FMI study suggests that organizations must also overcome a range of obstacles in order to adapt to future growth. Steadily increasing utilization of foam and molded fiber trays for protective packaging of goods, for example, may stifle the growth of the void fill pillows market.
Using foam and molded fiber trays, which are less expensive than void fill pillows and are created from recyclable materials, can constrain the use of void fill pillows for packaging, which might have a detrimental effect on the void fill pillows market.
As the world's manufacturing powerhouse, the APEJ region is anticipated to lead the void fill pillows market over the coming years. North America is predicted to trail the APEJ region in the void fill pillows market as it is the biggest importer and second biggest exporter of commodities.
Over the forecast timeframe, supply for void fill pillows in Eastern and Western Europe is anticipated to be moderate. Latin America and Japan are predicted to account for a small but fast-expanding market share of the void fill pillows market. During the forthcoming years, a mandate for void fill pillows is expected to be slow in the MEA region.
Due to budding cross-border trade and expanding geographical outreach of the manufacturers, the export of the merchandise goods has been rapidly increasing. To cater to the transportation needs of these companies, packaging manufacturers are innovating new packaging solutions.
Primarily, the focus of packaging manufactures is to improve the safety of the goods during transit and to improve the efficiency of the company. Void fill pillows are such a product innovated by packaging manufacturers for meeting the demand from various industries. Void fill pillows provide a cushion for packed products from external physical shocks, thus, ensuring the safety of the products during the transit.
Void fill pillows are commonly manufactured using plastic films and are used for protecting electronic items, glass items, and other fragile products. Use of void fill pillows with larger air pockets are often printed with the company name or the logo, therefore enabling manufacturers to build their brand image.
Void Fill Pillows Market: Market Dynamics
On the backdrop of technological advancement in the packaging industry world packaging market has been expanding rapidly. World packaging market has been estimated at over Mn 820 US$ and is expected to grow at a CAGR of over 4.5% during the forecast period.
The key factor driving void fill pillows market is despite being light in weight void fill pillows are extremely efficient in protecting packed goods from external shocks. The extensive use of void fills pillows while transportation of goods is boosting the growth in void fill pillows market.
Increasing penetration of e-retail especially in developing economies are some other factors supporting the growth in void fill pillows market. Printability of void fill pillows increases manufacturer’s attraction as it enables them to increase their visibility and helps in building brand image in the market.
However, increase in use of foam and molded fiber trays for protective packaging of goods may hamper the growth in void fill pillows market. Using foam and molded fiber trays costs as low as void fill pillows and molded fiber trays being made from environmentally friendly products can limit the use of void fill pillows for packaging which may negatively impact void fill pillows market.
Void Fill Pillows Market - Regional Outlook
Regionally global void fill pillows market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
Being the production hub of the world APEJ region is expected to lead the void fill pillows market during the forecast period. North America is expected to follow APEJ region in void fill pillows market as the region is the largest importer and second largest exporter of the world merchandise.
The demand for void fill pillows in Eastern and Western Europe is expected to be moderate over the forecast period. Latin America and Japan are expected to represent small but rapidly growing market share in void fill pillows market. The demand for void fill pillows in MEA region is expected to be sluggish during the forecast period.
Void Fill Pillows Market - Key Players
Some major players of the void fill pillows market are Sealed Air, DDN Industries, Inc., Automated Packaging Systems Ltd., Polycell, Storopack Hans Reichenecker GmbH, Emballages AT, 2013 DE-Tech Packaging, Inc., Industrial Packaging, Intertape Polymer Group, Hangzhou Bing Jia Technology Co., Ltd., Ruian Growel Packing Co., Ltd., Dongguan Homyell Packaging Materials Co., Ltd., Jiangyin Changjing Xinda Plastic Film Co., Ltd., Zhangzhou Air Power Packaging Equipment Co., Ltd. and Guangzhou Packbest Air Packaging Co., Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The 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, macro-economic 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.
Void Fill Pillows Market: Market Segmentation
Void fill pillows market is segmented by material type, and by end use industry.
Based on the material type, void fill pillows market is segmented into:
- By Material Type
- Kraft paper
- Metal Foils
Based on the end use industry, void fill pillows market is segmented into:
- Automotive industry
- Pharmaceuticals industry
- E- Commerce
- Electronics industry