Loose Fill Polystyrene Packaging Market | Key Players are Alsamex Products, Nefab Group, XPAC Technologies, Salazar Packaging, Storopack

Loose fill packaging is important for safe shipping of packaged goods, as they fill empty spaces in the box and prevent products from moving during transportation. There are various types of loose fill packaging material available in the market including biodegradable, recyclable, and environmental friendly filling material. Rising awareness regarding environmental concerns has led to popularity of these grade of polystyrene loose fill packaging worldwide. For instance, Topa Packaging, manufactures a biodegradable expanded polystyrene (EPS) loose fill material under the brand name Flo-Pak Green.

Rapidly growing packaging industry is propelling growth of the global loose fill polystyrene packaging market. For instance, according to the data provided by the 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 anticipated to support the market growth of loose fill polystyrene packaging market as well.

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Furthermore, rising internet penetration rate, coupled with shifting consumer preference from offline retail channels to e-commerce are driving growth of online retailing which in turn, is supporting growth of the loose fill polystyrene packaging market. For instance, according to the data provided by the Internet World Stats, the total number of internet users has increased from 3,079 million in 2014, to 4,157 million in 2017. In the total count of internet users around the world, Asia Pacific and Europe contributed 48.7% and 17.0 % share, respectively, in 2017, according to the Internet World Stats.

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 dominated the market and is anticipated to maintain its position 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 US$ 508.9 Mn, and it was 9.4% higher than the previous year.

Asia Pacific held the dominant position, in terms of revenue share, in the global loose fill polystyrene packaging market in 2017 and represented a market share of 44.1%. Rapidly growing end-use industries such as pharmaceuticals, cosmetics, and personal care industry in the region is leading to growth of the market in the region. For instance, according to the data provided by the International Trade Administration (ITA), in Japan, total market for cosmetics and personal care products was valued at US$ 13.2 Bn, in 2015.

Furthermore, increasing demand for pharmaceutical products is majorly driven by steadily growing geriatric population in Asia Pacific. According to the World Bank, growth rate of the geriatric population in East Asia is higher as compared to other parts of Asia Pacific. In 2010, over 211 million residents were recorded under the category of geriatric population in East Asia, out of which, China accounted for 130 million residents. Growing pharmaceutical industry is anticipated to support demand for loose fill polystyrene packaging for application pharmaceutical sector.

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

Major players operating in the global loose fill polystyrene packaging market include Alsamex Products Ltd., Nefab Group, XPAC Technologies Pte Ltd., Salazar Packaging Inc., Storopack Inc., Free-Flow Packaging International Inc., Imperial Dade, Samuel Grant Group Ltd., and Styro Tech Ltd.

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