Global Loose Fill Packaging Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ XX Mn.
The global Loose Fill Packaging market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Loose Fill Packaging report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Loose Fill Packaging Market Overview:
Loose fill packaging materials are dust-free, light-weight protective packaging solutions that provide high-level shock and impact protection to packed products throughout transportation between manufacturers, distributors, retailers, and consumers. In today's environment, the foundation of packing is the protection of products, equipment, and machinery against external harm during storage and shipment. Several packaging alternatives are easily available on the market that provides improved attractive values to items from various sectors; loose fill packaging is one of those protective packaging solutions that adhere to the basic property of protection.
Global Loose Fill Packaging Market Dynamics:
Drivers:
Over the projected period, the global loose fill packaging market is expected to be driven by growing applications of loose fill packaging in the electronics, automobile, homecare, and personal care industries, particularly in emerging nations. Loose fill packing is a low-cost protective packaging option for standard-size corrugated shipping containers, removing the need for custom-designed boxes for every delicate product and, as a result, increasing the end product's profitability.
Restraint:
Growing usage of loose fill packaging has raised environmental concerns since it is rendered worthless once the packed product is unboxed. The continued dumping of this type of loose fill packaging is driving regulatory authorities to impose strict recycling standards for market participants.
Global Loose Fill Packaging Market Segment Analysis:
Based on Material Type, the expanded polystyrene (EPS) segment is expected to rise at a moderate pace. Loose fill manufacturers use foaming ingredients like polystyrene foam (EPS) and modified starch, which is then pumped into molds, heated and hardened into the required shape, such as peanuts, chips, and so on. Loose fill packing is used to safely carry delicate items such as glass, pottery, and other similar items.
Global Loose Fill Packaging Market Regional Insights:
Over the projected period, the global loose fill packaging market is expected to grow at a high CAGR. The loose fill packaging industry is now led by regions that have a high volume of consumer goods demand, notably from e-commerce websites. North America and Europe are expected to grow in lockstep throughout the projected period, as the protective packaging industry is well established in both regions, leading to the growth of the loose fill packaging market.
Due to rising imports and exports in the electronics and automotive industries, as well as increased urbanization and disposable incomes, the Asia Pacific region, particularly developing economies such as India and China, is expected to emerge as the most profitable industry for the growth of loose fill packaging in the coming years.
Similarly, opportunities for loose fill packaging makers are anticipated to grow throughout Latin America and the Middle East throughout the projection period.
Global Loose Fill Packaging Market, by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
Global Loose Fill Packaging Market Key Players
• Storopack Hans Reichenecker GmbH
• Green Light Packaging Ltd.
• Air Sea Containers Ltd.
• Nefab AB
• Alsmex Products Ltd
• Rajapack Limited
• Topa Verpakking BV
• FP International U.K. Ltd.
• XPAC Technologies Pte Ltd.
• Salazar Packaging, Inc.
• Heritage Pioneer Corporate Group.
• Service Box & Tape
• Other Key Players