Global trade has undergone significant transformation in the last few decades.
Albany, NY -- (SBWIRE) -- 05/16/2018 -- Void-fill packaging products are secondary packaging materials, used to fill excess spaces inside a container to protect the product from damage during delivery or shipping, and are a form of protective packaging. Void-fill packaging products have evolved over time, ranging from older solutions such as paper and packaging peanuts, to modern solutions such as foam, and air pillow packaging. Preference for void-fill packaging products is attributed to a need to ensure product safety during transit. Modern trade has had tremendous impact on the logistics sector, across the globe, and has ultimately boosted growth in demand for packaging solutions such as void-fill packaging products. Void-fill packaging products currently are employed across the packaging industry for goods delivery. However, growth of the global void-fill packaging products market is solely dependent on how alternative packaging solutions perform in the market. Void-fill packaging is also used to ensure that products reach their destination, intact, for an amazing first impression. Owing to the ease of filling up void spaces in a packaging container, void-fill packaging products are expected to continue to gain traction in the market.
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Global void-fill packaging products market: Dynamics
Global trade has undergone significant transformation in the last few decades. Modern trade practices have brought about a revolutionary change in the way goods are traded. The global void-fill packaging is expected to grow on the backdrop of increasing penetration of modern trade. Rise of e-commerce platforms such as Amazon and Flipkart have played a key role in increasing demand of void-fill packaging products. Product handling is a key factor considered by logistics service providers to ensure that products reach their destination without any damage and compromise on quality. This has made protective packaging solutions the need of the hour. In addition to that, need for cost effective packaging solution is also expected to drive growth of the global void-fill packaging products market. Due to their efficiency in filling up empty space of any size, void-fill packaging products are better able to reduce costs, and facilitate simplification of the ordering process, resulting in increased volume savings on the ordered products. Other major factors expected to drive growth of the global void-fill packaging products market is the use of recyclable materials, which will receive high preference in the future. Due to all of these factors, the need for void-fill packaging products is unlikely to decrease, over the forecast period. However, there are certain factors which might affect growth of the global void-fill packaging products market. The same factors that fuel the need for void-fill packaging products, also drive growth in usage of alternative protective packaging solutions. Various protective packaging solutions such as scuff resistant packaging, layer pads, foam bags, fluted paper, among others, have witnessed increased use due to rise of modern trade practices, and are likely to be major competitors of void-fill packaging products, during the forecast period.
Global void-fill packaging products market: Segmentation
The global void-fill packaging products market is segmented as –
On the basis of material type, the global void-fill packaging products market is segmented as:
On the basis of product type, the global void-fill packaging products market is segmented as:
Continuous Foam Tubes
On the basis of end-use industry, the global void-fill packaging products market is segmented as:
Consumer Electronics Industry
Food & Beverage Industry
Personal Care & Cosmetics Industry
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Global void-fill packaging products market: Regional Outlook
The global void-fill packaging products market has been divided into seven regions -
Asia Pacific excluding Japan (APEJ)
Middle East and Africa (MEA)
The North America region is expected to lead the global void-fill packaging products market, followed closely by the APEJ region. This is attributed to high volume of trade in these regions, coupled with growth in penetration of modern trade and e-retail practices in the APEJ region. Especially, the government in emerging economies such as China and India, have been making efforts to increase their volume of trade, making the trade capability of the APEJ region, tremendous. The APEJ void-fill packaging products market is therefore anticipated to surpass that of the North American region, by the initial years of the next decade. Western and Eastern Europe, along with Japan are expected to witness moderate growth of the void-fill packaging products market, over the forecast period. The void-fill packaging market in the Latin America region is expected to witness healthy growth over the forecast period, owing to increasing trade volume.
Global void-fill packaging products market: Key Players
The global-void fill packaging market is led by manufactures such as Sealed Air Corporation and the Smurfit Kappa Group, among others.