Thermal Insulated Bubble Wrap Market Set to Reach US$ 18.7 Billion by 2033: Robust 5.2% CAGR

The global thermal insulated bubble wrap market is poised to achieve a market value of US$ 11.2 billion in 2023 and is projected to reach US$ 18.7 billion by 2033, with a CAGR of 5.2% during the forecast period from 2023 to 2033. This growth represents a significant increase from the historical period of 2018 to 2022, during which the market recorded a 4% CAGR.

The increasing demand for bubble wraps for packaging delicate items and their widespread use in packaging industries, electrical and electronic items, and pharmaceutical products are driving the growth of the thermal insulated bubble wrap market. Rising disposable income and the growing demand for a variety of products further fuel the demand for thermal insulated bubble wraps. Additionally, the surge in online shopping, along with the easy availability of biodegradable bubble wraps, is anticipated to push market growth ahead during the assessment period.

Thermal insulated bubble wraps play a crucial role in preventing damage to products from fluctuating temperature, pressure, and physical forces. Their widespread use in the food & beverage, cosmetic, pharmaceutical, and electronics industries contributes to the growing demand. They are also employed in industries dealing with hazardous chemicals to ensure safe transit of the products.

The increasing demand for pharmaceutical products globally, driven by the prevalence of chronic diseases and the aging population, is another factor propelling the demand for insulated bubble wraps. Vaccines, blood, and temperature-sensitive drugs are commonly transported in insulated bubble wraps for secure transportation.

The projected increase in the global population and the rising proportion of the elderly population are expected to generate higher demand for pharmaceuticals, thus driving the demand for insulated bubble wraps in the pharmaceutical sector.

Regionally, Asia-Pacific is expected to dominate the market, accounting for over 40% of the market share by the end of the projection period. The growth in this region is attributed to the rising penetration of the internet, booming e-commerce industry, and increasing purchasing power of people, especially in China and India. Government initiatives to strengthen the automobile and electronics industries through Public-Private Partnerships (PPPs) are also positively influencing market growth in this region.

In North America, the presence of online grocery stores that prefer insulated bubble wraps for the transportation of fruits, vegetables, and processed foods drives revenue growth in the region.

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Key Takeaways:

• Thermal insulated bubble wrap market to reach US$ 18.7 billion by 2033 with a CAGR of 5.2%.
• Growing demand for bubble wraps for delicate item packaging and use in various industries fuels market expansion.
• Increased online shopping and availability of biodegradable bubble wraps contribute to market growth.
• Insulated bubble wraps protect products from temperature, pressure, and physical damage.
• Global demand for pharmaceutical products boosts the market for insulated bubble wraps.
• Asia-Pacific to dominate the market with over 40% market share, driven by e-commerce growth and rising purchasing power.
• North America to grow with a CAGR of 4.8%, supported by the presence of online grocery stores using insulated bubble wraps.