Global Loose Fill Packaging Market: Overview
In today’s world, the root of packaging lies in the safety of product, tools & machinery from external damage during its storage and shipping. Several packaging options are readily available in the market which offers enhanced appealing values to the products from varied industries, loose fill packaging is one of that protective packaging solution that follows the basic property of protection. Loose fill packaging materials are dust-free, light in weight protective packaging solution which offers high-level shock and impact protection to the packaged product during shipment between manufacturers, distributors, retailers, and consumers.
Manufacturers of loose fill prefer foaming materials such as expanded polystyrene (EPS) as well as modified starch which is then injected into molds, heated, and thus solidified into the desired shape such as peanuts, chips, etc. Loose fill packaging are applied in safe shipping of fragile objects such as glass, ceramics, etc.
Global Loose Fill Packaging Market: Drivers & Restraints
Growing applications of loose fill packaging especially in the electronics, automobile, homecare and personal industry particularly in developing countries are likely to drive the global loose fill packaging market over the forecast period. Loose fill packaging forms a low-cost protective packaging solution for standard-size corrugated shipping containers, eliminating the need for specialized designed boxes for every fragile product ultimately resulting in increased profitability of the end product. Additionally, the growing e-commerce industry is also generating a spur in the use of protective packaging, owing to premium products being fed into logistics loop. However, scrapped loose fill packaging peanuts/chips being dumped remains a critical challenge for manufacturers as well as consumers across the globe. Growing consumption of loose fill packaging has have generated environment concerns as these become useless once the packaged product is unboxed. Continuous dumping of such loose fill packaging is forcing the regulatory bodies to induce harsh recycling protocols for the market players.
Global Loose Fill Packaging Market: Segmentation
The global loose fill packaging market is segmented as follows
On the basis of product type, the global loose fill packaging market is segmented into:
- Loose fill Peanuts
- Loose fill Chips
On the basis of material type, the global loose fill packaging market is segmented into:
- GMO-free Starch
- Expanded Polystyrene (EPS)
On the basis of its application, the global loose fill packaging market is segmented into:
- Handicraft supplies
- Household goods
- Electronic appliances
- Books, stationery, office supplies
- Pharmaceutical products
- Automotive spare parts
- Cosmetics & Personal care
Global Loose Fill Packaging Market: Regional Overview
Geographically, the global loose fill packaging market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
The loose fill packaging market is presently being dominated by the regions which show a quantitative demand in consumer goods, particularly generated from the e-commerce portals. North America and European countries are likely to grow linearly over the forecast period as the market for protective packaging are well established in this region resulting in the growth of loose fill packaging market. Asia Pacific region, especially the developing economies such as India & China are expected to emerge as the most lucrative market for the growth of loose fill packaging over the coming years, owing to the rising imports & exports in the electronics and automotive industry coupled with the growth in urbanization and rise in disposable incomes. Likewise, Latin America and MEA are likely to create opportunities for the loose fill packaging manufacturers over the forecast period.
Overall, the global loose fill packaging market is estimated to grow at a healthy CAGR over the forecast period.
Global Loose Fill Packaging Market: Key Players
Some of the key players that operate in the loose fill packaging market across the globe are Storopack Hans Reichenecker GmbH., Green Light Packaging Ltd., Air Sea Containers Ltd., Nefab AB, Alsamex 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 and many more.
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