Press release
Bulb Packaging Market to Witness Steady Growth During the Forecast Period 2017-2025
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Growth of the global light bulb packaging market is primarily attributed to installation capacity around the globe pertaining to lighting requirements. Light bulbs installed are needed to be changed post-completion of their lifespan, which is driving demand for light bulb packaging globally. While incandescent bulbs are witnessing a robust decline in adoption, CFL and LED light bulbs hold major shares of the global bulb packaging market.
Global Market for Bulb Packaging: Market Dynamics
Rapid growth of urbanization and soaring population, particularly across APEJ countries, are factors estimated to propel demand for lighting products, thereby fostering growth of the global bulb packaging market. Demand for LED bulbs is witnessing a rise owing to its performance with high efficiency. LED bulbs will account for half of the global demand for light bulbs during the forecast period. This will further drive growth of the market. Shifting consumer preferences towards e-retail has transformed packaging to become more prominent than before. E-retail is estimated to register an impressive growth in the near future, affecting the market for light bulb packaging. This is further expected to drive demand for light bulbs, and thereby its packaging globally.
Requirement for protection of light bulbs against physical damages at the time of transit have paved opportunities for innovation in light bulb packaging. Plastic is a preferred material for light bulb packaging, owing to its high insulation properties. However stringent rules imposed by regulatory authorities on utilization of plastic is likely to inhibit growth of the market. Increasing usage of eco-friendly materials for production of folding cartons and paperboard offers more opportunities to growth of the global bulb packaging market. Moreover, sustainable and reusable packaging techniques are likely to further influence growth of the market during the forecast period.
APEJ and Latin America are expected to remain dominant in the global bulb packaging market owing to high consumption and production in the region. APEJ holds one-third share of the global LED bulb production, and is a major consumer of light bulbs globally.
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Bulb Packaging Market: Key Players:
Some players actively participating in the global bulb packaging market include Shenzhen Shunbaoda Plastic MFG Co., Ltd, Global Packaging Alliance (GPA), FORMA Structural Packaging, Global Printing & Packaging Co. Pvt. Ltd, and Shenzhen Kaii Packaging Product Co., Ltd.
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