Packaging Foams Market: Global Industry Analysis and Forecast (2023-2029)

Packaging Foams Market was valued at US$ 16.85 Bn. in 2022. Global Packaging Foams Market size is estimated to grow at a CAGR of 8.87%.
Packaging Foams Market Overview:
Foam packaging plays a vital role in the purchasing experience of consumers. The packaging has major functions like containment, protection, communication, and utility, which helps to maximize sales and profits. Currently, the demand for packaging foam is increasing at an exponential rate because of its advanced cushioning effect for protection. As the pandemic has demonstrated, packaging has become an essential service for the shipment, storage, and consumed products. The manufacturers and distributors are striving to offer a packaging product with environmental protection, resource conservation, and sustainability.

The report covers the market dynamics like drivers, restraints, opportunities and challenges by each region. In the report, we have considered 2022 as a base year and for the market value analysed the real output numbers.To know about the Research Methodology :- Request Free Sample Report

Sustainable and environmental-friendly packaging is high on the agenda of top packaging manufacturers and their customers. An increase in disposable income levels, consumer awareness, and demand for processed food are expected to drive the adoption of the packaging foams. The rapid expansion of the end-user segments of food, beverages, FMCG, and pharmaceuticals, high consumer spending levels in household products like bedding, furniture, and appliances are some of the factors that boost the demand for packaging solutions

In the current market scenario, consumers are looking for the main qualities in their packaged products, mainly to food product packaging is the ease of convenience, ease of use, and ease of transport. Retailers are seeking similar qualities to packages that provide a longer shelf-life. With the high demand, the packaging foam market is expected to grow at a xx% rate in the near future.

E-commerce and convenience: drive the demand for Packaging Foams

The rise in the adoption of e-commerce and the need for convenience are shaping new B2B and B2C customer expectations. E-commerce and home delivery businesses are boosting a massive demand for packaging foam. A shift in consumer purchasing preferences from offline to online, customer comforts of online shopping, high internet, smartphone penetration, and the ongoing digital transformation across the developing nations are some of the driving factors that increase the adoption of packaging foam.
Market Segment Analysis:
Based on the Structure, the packaging foam market is segmented into flexible foam and rigid foam. The flexible foam is expected to contribute maximum share in the market. It is well suited for extremely sensitive products like computer parts, fruits, electronic parts, and jewellery. The global population is expected to grow at a rapid rate mainly in key emerging markets, like China and India, the rate of urbanisation is expected to grow, which will increase the demand for food and electronics products.

An increase in consumer income for spending on consumer goods and exposure to modern retail channels are expected to drive the demand for flexible packaging foam. High penetration of electronics products among the young population is expected to drive the market growth. An increase in demand for extended shelf life for the packaged products and consumer demand for convenience products are expected to increase the demand for flexible foam.

Based on the Service Type, the Protective Packaging segment is expected to hold the dominant position in the market. Packaging foams are most widely used for protection across the logistical environment and from mechanical damage. Industrial products are sold in packages because of the stability requirements for storage and transport. An increase in the adoption of industrial electronics products through e-commerce and demand for packaging foam for safe protection of the delivery are expected to boost the market growth.
Regional Insights:
With the growing awareness among the population for protective packaging and governmental push with respect to eco-friendly and sustainable packaging across the developing nations like India and China are expected to drive the Asia Pacific packaging foams market. The global market for online retailing is growing rapidly, which is driven by the penetration of the Internet and smartphones. Consumers are gradually buying more goods online, which is expected to increase the demand for packaging solutions. A rapidly growing e-commerce industry across the region is expected to propel the foam packaging market.

Currently, India has witnessed sustainable packaging growth because of the packaged food consumption and demand for electronics products. It is expected to be continued by the increase in home deliveries for grocery purchases and other home care products across the country. Companies are focusing on their products, marketing strategies, and service offerings to deliver evolving needs of consumers. Packaged food product key companies are focussing on packaging materials that support longer shelf-life.

Key companies operating in the foam packaging market are focusing on innovation and new product development to increase customers or to retain existing ones. For instance, in 2022, Storopack has introduced new polyurethane foam with renewable content to ship goods and lower impact on the environment. UFP Technologies, Inc., who is one of the largest foam fabricators in North America have developed lo long-term partnerships with many of the world's leading foam and specialty material manufacturers and focusing on the deployment of the best material for packaging among a broad array of polyethylene foams, polyurethane foams, and specialty materials.

The objective of the report is to present a comprehensive analysis of the global Packaging Foams Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Packaging Foams Market dynamic, structure by analyzing the market segments and projecting the Packaging Foams Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Packaging Foams Market make the report investor’s guide.
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Packaging Foams Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 16.85 Bn.


Forecast Period 2023 to 2029 CAGR:
8.87%
Market Size in 2029:
US $ 30.55 Bn.


 Segments Covered:
by Structures
Flexible Foam
Rigid Foam


by Material Type
Polystyrene Foam
Polyurethane Foam
Polyolefin Foam
Others (PVDF and PVC)


by Service Type
Food Service
Protective Packaging



Packaging Foams Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
Packaging Foams Market Key Players are:
1. ACH Foam Technologies
2. Arkema
3. Armacell LLC
4. BASF SE
5. Borealis AG
6. Foampartner Group
7. JSP
8. Kaneka Corporation
9. Recticel
10.Rogers Corporation
11.Sealed Air
12.Synthos S.A.
13.Total
14.Zotefoams PLC
15.Dongshing Industry, Inc
16.Foamcraft Inc.
17.Hanwha Corporation
18.Synbra Holding bv
19.Tosoh Corporation
20.UFP Technologies

Frequently Asked Questions:

1. Which region has the largest share in Global Packaging Foams Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Packaging Foams Market?
Ans: The Global Packaging Foams Market is growing at a CAGR of 8.87% during forecasting period 2023-2029.

3. What is scope of the Global Packaging Foams market report?
Ans: Global Packaging Foams Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Packaging Foams market?
Ans: The important key players in the Global Packaging Foams Market are – ACH Foam Technologies, Arkema, Armacell LLC, BASF SE, Borealis AG, Foampartner Group, JSP, Kaneka Corporation, Recticel, Rogers Corporation, Sealed Air, Synthos S.A., Total, Zotefoams PLC, Dongshing Industry, Inc, Foamcraft Inc., Hanwha Corporation, Synbra Holding bv, Tosoh Corporation, and UFP Technologies.

5. What is the study period of this market?
Ans: The Global Packaging Foams Market is studied from 2022 to 2029.