Biodegradable Loose Fill Packaging Market

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BIODEGRADABLE LOOSE FILL PACKAGING MARKET ANALYSIS

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Biodegradable Loose Fill Packaging Market report, by Material (Starch, Recycled Paper, and Others), by Application (Consumer Goods Packaging, Pharmaceutical Packaging, Cosmetics & Personal Care Products Packaging, and Others) - Size, Share, Trends, and Forecast till 2025 Loose fill packaging is important for safe shipping of packaged goods, as they fill empty spaces in the box and prevents products from damaging during transportation.

There are various types of biodegradable loose fill packaging material available in the global market, such as starch and recycled papers

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Biodegradable loose fill packaging is gaining popularity worldwide, owing to rising awareness regarding environmental concerns such as increasing pollution due to plastic waste. Manufacturing process of corn starch loose fill requires low energy and no chemical agents, thereby avoiding issues associated with harmful gas emissions. Thus, advantages of biodegradable loose fill packaging materials is one of the key factors, fuelling growth of the market.

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Furthermore, rapid growth of packaging industry is anticipated to support the global biodegradable loose fill packaging market growth. For instance, according to data provided by Central Government of India, the packaging industry was pegged at US$ 25 Bn in 2016 and is expected to reach US$ 30 Bn by 2020, at a growth rate of 15% per annum. Thus, the overall growth of the packaging industry is expected to support the market growth of biodegradable loose fill packaging market as well.

Figure 1. Global Biodegradable Loose Fill Packaging Market Share (%), By Application, 2017

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Based on application, the market is segmented into consumer goods packaging, pharmaceutical packaging, cosmetics & personal care products packaging, and others (handicrafts, stationary, and office supplies). In 2017, consumer goods packaging segment was the largest segment in the market and is anticipated to maintain its dominance during the forecast period. This dominance is attributed to rising sales of consumer goods worldwide. According to the National Bureau of Statistics of China, in 2017, total retail sales of consumer goods in China reached 508.9 US$ Mn, which was 9.4% higher than the previous year.

Figure2. Global Biodegradable Loose Fill Packaging Market Share (%), by Region, 2016

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North America held dominant position in terms of revenue, in the global biodegradable loose fill packaging market in 2017 and represented a market share of 58.3%. Biodegradable loose fills are light weight, economical, odor free, and also it is more anti-static, when compared to polystyrene chips. Rising awareness regarding these factors coupled with the high internet penetration in the region is fuelling growth of the market.

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For instance, high internet penetration and large number of smartphone users, is increasing the growth of e-retail sales, which in turn supports growth of the biodegradable loose fill packaging market as well. According to Central Intelligence Agency (CIA), in the U.S. around 246,809,221 internet users were recorded in July 2016. Shifting consumer preference from offline to online retail is expected to drive demand for various types of protective packaging including biodegradable loose fill packaging in the region.

Mergers & acquisitions, strategic business collaboration, and product development are the key business strategies adopted by key players to retain their market presence. For instance, in December 2015, Storopack Inc. announced a business deal with Sealed Air Corp. and CPI to enhance its existing business of biodegradable loose fill packaging in the U.S. and Canada.

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