Global Bubble Wrapping Market 2019-2023 | Industry Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Jan 8, 2019--Technavio’s global bubble wrapping market research report forecasts the market to grow at a CAGR of around 8% during the forecast period.
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Technavio’s global bubble wrapping market research report forecasts the market to grow at a CAGR of around 8% by 2023. (Graphic: Business Wire)
The innovations in the bubble wrapping market will be one of the major trends in the during 2019-2023. The demand for biodegradable bubble wrapping has been emerging across various end-user industries to guarantee sustainability in their business operations. Several vendors in the global bubble wrapping market have started concentrating on biodegradable bubble wrapping products to grab market opportunities in the sustainable packaging segment.
According to Technavio analysts, one of the key drivers for the global bubble wrapping market is the growing global e-commerce market:
Global bubble wrapping market: Growing global e-commerce market
In 2017, the global e-commerce market was valued at around USD 2.35 trillion. The major growth contributors to the global e-commerce market are China and the US. During 2017-2022, the share of online sales in global retail sales is anticipated to increase by 5%. The convenience provided by order tracking and free shipments has been encouraging more people to choose online shopping.
According to a senior analyst at Technavio for research on packaging, “Some of the factors driving the growth of the e-commerce market include increasing Internet and smartphone penetration. During 2017-2021, the global cross-border B2C e-commerce market is anticipated to witness a CAGR of 24%. The growing e-commerce market is likely to increase the demand for bubble wrapping as the safe delivery of goods is a key concern for e-commerce players.”
Global bubble wrapping market: Segmentation analysis
This global bubble wrapping market analysis report provides market segmentation by end-user (e-commerce, electronic components, and others), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the e-commerce segment is expected to account for USD 1.07 billion by 2023, thereby becoming the largest segment of the bubble wrapping market.
The APAC region held the largest share of the market in 2018, accounting for more than 36% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING PACKAGING
SOURCE: Technavio Research
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