NEWARK, Del, Dec. 19, 2022 (GLOBE NEWSWIRE) — The global packaging peanuts market is expected to surpass a valuation of US$ 1.3 Bn in 2022. Furthermore, with rising penetration of e-commerce platforms and growing adoption of electronic devices worldwide, the overall sales of packaging peanuts are expected to rise at 4.9% CAGR between 2022 and 2032, surpassing a market valuation of US$ 2.1 Bn by the end of 2032.
Packaging peanuts are innovative packaging solutions used across various industries to prevent damage to fragile objects during shipping and transportation. These protective packaging solutions ensure that the shipped products will reach their destination safely.
Growing usage of packaging peanuts across industries like electrical & electronics, automotive, pharmaceutical, and furniture & home décor for protecting fragile and sensitive products is expected to drive the global packaging peanuts industry swiftly during the forecast period.
Demand for packaging peanuts remains particularly high in the fast growing electronics industry. Continuous development in advanced technology brings multiple electronic devices into the market. Adoption of electronics such as phones and other wireless devices is increasing as the usage of social media is getting all over the world. Consumers are trying their hand at every new product to stay updated with changing trends.
Get 30% Discount Before it’s Gone – Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-10951
Consumers are purchasing electronic devices via e-commerce websites. Discounts offered by online shopping websites are attracting consumers to buy more products through online mode. Also, the ease of choosing products in the comfort of the home that too with too many options available has increased e-commerce sales, especially after the pandemic situation.
The products need to be delivered to the consumer without any damage which propels the demand for protective packaging including packaging peanuts. Packaging peanuts blocks and braces products inside the carton, and thus provide resistance to shocks and high pressure. This helps in delivering the product in the right condition to the consumer. Thus, with the increased e-commerce sales for electronics products, the demand for packaging peanuts is expected to boost during the forecast period.
Furthermore, growing popularity of biodegradable and compostable packaging peanuts worldwide will further aid in the expansion of the global market over the next ten years.
Key Takeaways from Packaging Peanuts
- Based on material, the starch-based polymers segment is expected to register a CAGR of 5.1% during the forecast period.
- By application, the void-filling segment is projected to expand by 1.8x the current market value during the forecast period.
- Based on end use, the electrical & electronics and furniture & home décor segments are collectively projected to hold around 61% of the market value share by the end of 2022.
- Europe and North America together hold the largest share of the global packaging peanuts market and the trend is expected to continue over the next ten years.
- The U.S. packaging peanuts market is expected to grow 1.5 times the current market value during the forecast period.
- India holds around 46% share of the South Asia packaging peanuts market.
“The need for protective and safe packaging for delivering the products with minimum shipping and labor cost and the rapidly growing e-commerce market are emerging as key factors expected to boost the packaging peanuts market. Also, growing popularity of the 100% recycled packaging peanuts will create a growth opportunity for the target market over the next ten years,” – says an FMI analyst
Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-10951
Rise in Spending on Furniture & Home Décor Products Bolstering Demand for Packaging Peanuts
Nowadays, most people have upgraded their lifestyles and decorated their living spaces. People are earning more money and hence their spending capacity has also changed. Many brands have come up with home decor items in the market and consumers are now more interested in keeping their space lavish. So, the demand for house furnishing items or house decoration items is increasing. This in turn is creating high demand for packaging peanuts and the trend is expected to continue during the forecast period.
These days, online shopping has become the most followed trend, especially after the pandemic. Since people are busy with their work and may not have time for visiting, they are ordering decorative items from e-commerce websites such as Pepperfry, Amazon, etc. The manufacturer or supplier has to make sure that the product should reach safely to its destination without any damage. This is prompting them to use packaging solutions like packaging peanuts.
Who is Winning?
Storopack Hans Reichenecker Gmbh, Willard Packaging Company, Styro Insulations Mat. Ind. LLC., Nefab Group, Stream Peak International PTE Ltd., and Styro Insulations Mat. Ind. LLC are the key players operating in the packaging peanuts market. Also, some of the other noticeable players in the market include Test Valley Packaging, Pioneer Packaging, Puffy Stuff Inc., President Container Inc., AP Packaging Corp, and others
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-10951
Packaging Peanuts Industry by Category
- Expanded Polystyrene
- Starch-based Polymers
By End Use:
- Electrical & Electronics
- Automotive & Allied Industries
- Construction & Building
- Furniture & Home Décor
- Other Consumer Goods
Buy Report Now @ https://www.futuremarketinsights.com/checkout/10951
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
3.4. Value Chain Analysis
TOC to be Continued..
View Full Report @ https://www.futuremarketinsights.com/reports/packaging-peanuts-market
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
As the world becomes more and more digital, the way we purchase items is changing. Watch this video to learn about the future of packaging and how it is evolving to meet customer needs.
Explore Trending Reports of Packaging Domain:
Pump & Dispenser Market: Pump & Dispenser Market By Product Type (Trigger Pumps, Lotion & Cream Pumps, Mist Spray Pump, Bottle Top, Crimp Dispenser, Burette, and Others), By Material Type (Plastic, Glass, Metal), By Application (Body Lotions, Hand Care Lotions, Reagents, Perfumes & Deodorants, Liquid Soap, Shampoos & Conditioners, and Others), End-use (Cosmetics & Personal Care, Homecare, Pharmaceutical, Chemicals & Fertilizers, Laboratories, Automotive, and Others) & Region for 2022 – 2030
Shrink Sleeve Label Applicator Market: Shrink Sleeve Label Applicator Market by Automation (Semi-Automatic and Automatic), Labelling Speed (Up to 200 BPM, 200 BPM to 400 BPM, 400 BPM to 600 BPM), Container Diameter (Up to 50 mm, 50 to 100 mm, 100 mm to 150 mm),& Region – Forecast to 2022-2030
Cold Chain Packaging Market: Cold Chain Packaging Market By Product Type (Pallet Shippers, Insulated Containers, Foam Bricks, Gel Packs, Protective Packaging, and Phase Change Cold Storage Products), Material (Polymer, Metal, Paper), Packaging Format (Reusable Packaging and Disposable Packaging), End-use (Food, Beverages, Pharmaceutical, Cosmetics & Personal Care, Chemical ) & Region – Forecast 2022 – 2030
Vaccine Packaging Market : Vaccine Packaging Market By Packaging Type (Vials, Prefilled Syringes, Ampoules and Bags & Pouches), Material Type (Plastic, Glass, Polystyrene), End Use Industry (Diagnostic Centres, Clinical Research Organization, Other Healthcare Units) & Region – Forecast 2022 – 2030
Thermal Insulation Packaging Market : Thermal Insulation Packaging Market By Packaging Type (passive, active, and cold storage), Insulation Material (EPS, PUR, VIP, PCM, and Others),Temperature Range (Less than -40Â°C, -20 to -40Â°C, -1 to -20Â°C, 0 to 10Â°C, and 10 to 25 Â°C), Application (Food and Beverage, Pharmaceuticals, and Others) & Region – Forecast 2022 – 2030
About Us :
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: [email protected]