Valley Cottage, NY -- (SBWIRE) -- 01/04/2018 -- Loose-fill Peanuts: Market Introduction
The global protective packaging market is worth over US$ 20 billion and is expected to grow at a CAGR of over 5%. The demand for protective packaging is expected to dominate the overall protective packaging market over the forecast period. Loose fill peanuts is a protective packaging solution used to stabilize the products during transit. Loose fill peanuts acts as a shock proof for delicate and fragile products. Loose-fill peanuts is gaining traction among manufacturers, retailers, and logistics service providers due to high level of protection at low cost. Loose fill peanuts are considered environment friendly compared to other bulkier alternatives. Moreover, the shock absorption capability of loose-fill peanuts delivers a greater level of protection which is unequalled by other types of protective packaging solution. It is often regarded as superior to other manufacturing materials such as moulded pulp, corrugated paperboard, or moulded foam. Loose-fill peanuts are an efficient and protective packaging solution mainly used for the stability and safe transit of the products. Loose-fill peanuts ensures safety of products by providing shatter proof solutions for delicate products such as electronics, glass items, products made up of clay, etc.
Loose-fill Peanuts: Market dynamics
Global population of internet users is increasingly resulting in the growth of consumer preferences towards e-commerce. Increasing penetration of modern trade and e-commerce has resulted in more consumers availing online retail services. This is attributed to the convenience associated with money transaction, product shipment, and delivery. This, in turn, is expected to boost the growth of global loose-fill peanuts market. The lightweight loose-fill peanuts helps in reducing the material as well as shipping costs as they fill the larger voids without increasing the overall weight of the package. Loose-fill solutions are easy to operate, and can be inflated directly resulting in eliminating the need of sealing. This helps the manufacturers achieve reduction in labour cost. The growing demand of consumer electronic good over the past few years has increased the need of loose-fill peanuts as cushioning solutions due to availability of raw materials at relatively low cost. Loose-fill peanuts offers more bundle securing and leaves no deposit on the products resulting in the neat and clean delivery of the products. Loose-fill peanuts conforms itself to shape of the packed object providing efficient protective solution resulting in increase of shelf life of the product.
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Loose-fill peanuts: Market segmentation
Loose-fill peanuts market has been segmented on the basis of material, color and end uses.
On the basis of material, loose-fill peanuts are segmented into
On the basis of color, loose-fill peanuts has been segmented into
White – contains at least 70% non-recycled material
Green - contain at least 70% recycled material
Pink – chemically treated to reduce static cling
On the basis of end use, loose-fill peanuts has been segmented into
Food and beverages
Electrical & electronics
Automotive and allied industries
Loose-fill Peanuts: Regional outlook
Loose-fill peanuts market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Western Europe is expected to dominate the market share of loose-fill peanuts owing to rise in consumer preference towards online purchasing. Western Europe is followed by North America due to increase in shipping and logistics in the region. APAC is anticipated to register highest growth rate in loose-fill peanuts market due to increase in internet users in the region.
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Loose-fill peanuts: Key players
Some of the key players in the global loose-fill peanuts market are Smurfit Kappa Group, Sealed Air Corporation, Storopack Hans Reichenecker GmbH, Free-Flow Packaging International, Inc. and Nefab Group.