Bizizz Market Research has recently published a research report, “Packaging Peanuts Market By Materials Type (Expanded Polystyrene, Plants Starch and Corn Starch), End-user (Food & Beverages, Pharmaceuticals, Homecare, Personal care, Electrical & Electronics, Automotive & Allied Industries and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Packaging Peanuts Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at a market value of US$ YY Bn by 2027, witnessing a CAGR of 5.2 % during the forecast period. Key drivers of the market are growing e-commerce industry coupled with its advanced features resulting in its market growth.
An increasing e-commerce market, with the demand for protective packaging solutions including packaging peanuts is rising. Prominent features supported by the packaging peanuts include shock safety, versatile packaging, efficient packaging and storage, cost-effective empty packing and biodegradable disposal, etc. Its market demand is anticipated to propel as a contributing factor of cushioning and empty packaging made for valuable products in storage and transport. Transporting fragile offerings needs significant protection against shock, and biodegradable packing peanuts contribute as a protective solution. Such supporting features of the packaging peanuts offerings are contributing to its high market demand by various industries during the forecast period.
The Packaging Peanuts market is anticipated to register a CAGR of over 5.2% during the forecast period.
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By Materials, Starch-based packaging peanuts segment held a prominent share in Global Packaging Peanuts Market in 2018.
Packaging peanuts are manufactured by a constituent of a starch substrate, preferably regular wheat starch is attaining customer traction because of its eco-friendly nature. End-user industries are opting for a biodegradable solution along with producers is also investing in product advancement to offer products according to the requirement of end- user’s requirement. Increased awareness among consumers in the context of eco-friendly packaging alternatives are anticipated to stimulate market growth of starch-based packaging peanuts products during the forecast period.
The Asia Pacific is Anticipated to Dominate the Global Packaging Peanuts Market during the Forecast Period.
The Asia Pacific region is anticipated to exhibit lucrative growth opportunities in the global market for eco-friendly peanut packaging by the enforcement of regulatory policies of government and regulations against curbing the usage of plastic products. For sustainable packaging solutions are increasingly demanded by the end-user industries substantially making its market share because of its various advantages over the other packaging materials available in the global market.
Global Packaging Peanuts market was highly fragmented among the number of local and global players. It could be attributed to the increasing demand for the innovative products that contribute to the requirements of the end-users operating in the global market for competing with the organizations.
Prominent players operating in the Global Packaging Peanuts Market are Foam Fabricators Inc., Sealed Air Corporation, Heritage Pioneer Group, ACH Foam Technologies, Void Fill Packaging, Smurfit Kappa Group, Puffy Stuff Inc., FP International, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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