Air bags packaging Market: Introduction
Packaging plays an important role for attracting the customers towards the product offered by the manufacturers. Apart from that, packaging is also used for protection during transportation, identification as well as it aids to differentiate from the competitors’ products available in the market. Air bags packaging is one of the most popular packaging solutions adopted by food & beverages, pharmaceutical and electronics product manufacturer. The demand for air bags packaging is gaining traction, owing to its light weight and its flexible nature to pack different product forms in same pack format.
Air bags Packaging: Market Dynamics
Global air bags packaging market is primarily driving by the increasing growth in e commerce industry as air bags packaging is used widely preferred packaging solutions in the e commerce industry. Also, air bags packaging is anticipated to be driven by the growing demand of third party logistics across the globe. Third party logistics providers focus in warehousing, integrated operation, and transportation services. Third party logistic providers are adopting air bags packaging for packaging solutions. Moreover, air bags packaging minimizes the shipping costs of the manufacturer owing to the property of its light weight. Air bags packaging is extensively used for packaging consumer durable products that in turn accelerates the demand of air bags packaging market during the forecast period. Furthermore, mounting growth of pharmaceutical industry is positively influencing the demand of air bags packaging market. Air bags packaging is used as packaging solution for automotive parts which is expected to further propel the growth of air bags packaging in the upcoming decade. Air bags packaging is also used in the beverages packaging especially for wine that is expected to intensify the growth of the market. Over the past few year, air bags is used as a packaging solution for industrial goods. But some government regulations regarding the usage of plastic can pose a challenge for the air bags packaging market. Manufacturers of air bags packaging are now using biodegradable plastic as an alternative material.
Air bags packaging: Market Segmentation
The global air bags packaging market is segmented on the basis of application, material type, function and distribution channel
Based on the application the global air bags packaging market is segmented into:
- Electronics & semi-conductor
- Industrial goods
- Automotive parts
Based on the material type, the global air bags packaging market is segmented into:
Based on the function, the global air bags packaging market is segmented into:
- Void Fill
Based on the distribution channel, the global air bags packaging market is segmented into:
- E- Commerce
Air bags packaging Market: Regional outlook
In terms of geography, the global air bags packaging market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North America is expected to remain its dominance during the forecast period owing to the huge growth of pharmaceutical along with the healthy growth of cosmetic & personal care industry. Europe is also expected to witness slightly slower growth due to the mature market. Asia pacific region is anticipated to register highest CAGR as compare to the other region due to the healthy growth of e commerce industry in developing economies. But Latin America and Middle East & Africa region is expected to witness very slow growth in the next decade.
Air bags Packaging Market: Key players
Some of the key players in the global air bags packaging market are Airpack, S.p.A, Inflatable Packaging, Inc., Smurfit Kappa Group Plc., and Bayer Corporation etc. Many unorganized players are also presence in the market for that key players are focusing to mergers & acquisition activity to penetrate into the developing countries.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.