Foam Packaging Market Growth Opportunities & Forecast [2031]
Foam Packaging Market Growth Opportunities & Forecast [2031]
Segments - Foam Packaging Market By Form (Flexible and Rigid), By Material (Polyurethane, Polystyrene, Polyolefin, Phenolic, PET, and Others), By End Use Industry (Automotive, Food & Beverage, Beauty & Personal Care, Electrical & Electronics, and Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Growth, Share, Size, Trends and, Forecast 2023 – 2031
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| Report ID :MC-6152
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| 300 Pages
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Report Description
Market Outlook:
The Global Foam Packaging Market was estimated at USD 6,160.7 Million in 2022 and is anticipated to reach USD 9,975.6 Million by 2031, expanding at a CAGR of 5.7% during the forecast period.
The packaging foams are closed or opened cells that have superior shock absorption qualities that are designed to be essential for protecting goods from dents, vibrations, and drops. The foams reduce the chance of damage to the packed items by acting as a protective barrier, absorbing and dispersing the forces produced by external shocks.
Packaging foam is easily adapted with grooves, notches, and curves to fit a product’s uniqueness. A good packaging design contains and protects the product at an optimal price while meeting presentation goals.
Macro-economic Factors
Rising Industrialization
Industrialization drives the demand for foam packaging in automotive, food & beverage, beauty & personal care, electrical & electronics, and other industries, making a positive impact on the market. According to the Netherlands Bureau for Economic Policy Analysis (CPB), global industrial production increased by 1.2% month-on-month in June, which increased by 0.8% in May. This reflects an increase in output of industrial production for the previous ten years. China, the US, Japan, Germany, India, South Korea, Italy, France, the UK, and Indonesia are the top 10 manufacturing nations across the globe. In advanced economies, industrial production exceeded pre-pandemic levels in 2022. Rising output in other advanced economies is driving the production. Industrial production has increased in 2022 by 4% as compared to 2021. This has brought an increase in industrial production in these advanced economies to more than pre-pandemic levels.
Increasing Disposable Income
Growing economy is increasing the disposable income of consumers. Hence, a large number of individuals is spending on consumer electronics, which is significantly influenced by disposable income. Therefore, the demand for electronics and electricals is anticipated to increase the demand for packaging foam. Foam packaging offers both cushioning and resiliency to electronic products that require extensive protection throughout their entire life cycle, from manufacturer to end user. Increased disposable income has increased the consumption of foam packaging.
Market Dynamics
Market Driver- Increasing Demand from the Industrial Packaging Sector
Packaging foam is used as a cushioning material for boxes, and it is well-known for its versatility and adaptability. Foams are utilized in a broad range of packaging applications and sectors, including industrial products, consumer electronics, automotive, and other applications where maximum protection and durability are essential. Automotive spares are tough to handle, and some parts require additional care when storing and transporting. Several elements, notably those in the interior and engine, are quite complex. High growth in the e-commerce industry contributed to a rise in the sale of protective packaging products. The major factor accountable for the growth of the market is the high demand for packaging foams in the automotive industry.
Market Driver- Growth in the Electronics Industry
The trend of using small and fragile electrical devices in the electronics sector necessitates the use of packaging foams. Custom-shaped and designed packaging foams are used to construct accurate and snug-fitting chambers for fragile components, such as integrated circuits, microprocessors, and sensors. The foams cushion and absorb stress, protecting the components from impact and reducing the danger of damage during shipping and handling. Increasing demand from the electronics industry is propelling the foam packaging market.
Market Restraint- Availability of Substitutes
The foam packaging market faces competition from other materials such as biodegradable or paper-based alternatives. However stringent regulations on packaging are expected to restrict the market growth. Compliance with regulations is essential, as small defects in packaging have the potential to negatively affect the product and reduce manufacturing profit. This hampers the growth of the foam packaging market.
Market Opportunity- Growing Industrial Applications and Increasing Product Awareness
Foam packaging is gaining popularity for industrial applications. Companies are highly adopting foam packaging to ensure that the ordered items reach the customer in good condition, and the customer is satisfied with the product quality and condition. Increasing awareness and use of the product is anticipated to boost the market in the future.
Scope of the Report
The report on the global foam packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Foam Packaging Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 and 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
By Form (Flexible and Rigid), By Material (Polyurethane, Polystyrene, Polyolefin, Phenolic, PET, and Others), By End Use Industry (Automotive, Food & Beverage, Beauty & Personal Care, Electrical & Electronics, and Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA)) |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered |
Sealed Air, BASF SE, JSP, Recticel Engineered Foams Belgium BV, Rogers Foam Corporation, Zotefoams Plc (UK), Synthos, Sekisui Alveo, SABIC, and Celanese Corporation |
Segmental Outlook
On the basis of form, the market is divided into flexible and rigid.
The flexible segment holds a market share of XX% in 2022 and is expected to hold XX% market share in 2031. The flexible segment holds the largest share of the global foam protective packaging market, due to the adoption of flexible foam to protect sensitive products, prompting the market growth. Flexible foam is particularly lightweight, helping in the reduction of emissions in transportation applications.
Rigid foams are known to possess various properties, such as waterproofing, anti-static, anti-vibration, and anti-skid, which makes them ideal materials for use across many industries. This factor is boosting the segment.
On the basis of material, the market is divided into polyurethane, polystyrene, polyolefin, phenolic, PET, and others.
The polyurethane segment held XX% market share in 2022 and is expected to hold XX% market share in 2031. Polyurethane is in high demand, as it is an ideal solution for shipping sensitive products. Polyurethane material has characteristics, such as excellent abrasion resistance, light weight, and eco-friendliness, and it is adopted for a variety of applications. Increasing demand for other materials, such as polystyrene, polyolefin, phenolic, PET, and others, is boosting the market.
On the basis of end use industry, the market is fragmented into automotive, food & beverage, beauty & personal care, electrical & electronics, and others.
The automotive segment held XX% market share in 2022 and is expected to hold XX% market share in 2031. The significant market share of the automotive segment is attributed to the need for protection of automotive products during handling and transportation activities. Growth in automotive production is expected to drive the market.
The electrical & electronics segment contributes majorly to the foam packaging market. Consumer electronic devices, such as computers, tablets, smartphones, and others, are delicate and are damaged during handling and shipping. As a result, packing foam provides high shock absorption and cushioning capabilities to ensure the safety of electrical devices throughout the supply chain.
Regional Outlook
On the basis of region, the foam packaging market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific has led the global packaging foams market, owing to the increasing demand for packaging in logistics, industrial and automotive production, and other manufacturing processes. China is a prominent contributor to the global foam packaging market. The expanding food & beverage, automotive, electronics, personal care, and pharmaceutical industries continue to drive the market.
North America accounts for a significant share of the foam packaging market, due to the growing commercial activities in the region. The growth of e-commerce platforms has increased the need for secure and dependable packing solutions to protect commodities during transportation. Foam packaging has become a popular solution for packaging sensitive and easily damaged items. Furthermore, the rapidly growing electronic appliances industry in the region is setting a good growth trajectory for the regional market. This is boosting the foam packaging market.
Key Developments
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In March 2021, Recticel announced the successful acquisition of FoamPartner, a Switzerland-based global producer of high-added-value technical foams. Recticel Engineered Foams was established by the merger of Recticel Flexible Foams and FoamPartner. The new firm is expected to capitalize on various resources and talent synergies to promote excellence, expand its global footprint, and speed up the commercialization of sustainable technologies and cutting-edge solutions to global markets.
Key Benefits for Industry Participants & Stakeholders
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In-depth Analysis of the Global Foam Packaging Market
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Historical, Current, and Projected Market Size in terms of Value
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints, and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Foam Packaging Market Performance
Segments
By Type
- Flexible
- Rigid
By Material
- Polyurethane
- Polystyrene
- Polyolefin
- Phenolic
- PET
- Others
By End Use Industry
- Automotive
- Food & Beverage
- Beauty & Personal Care
- Electrical and Electronics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Market Players Profiled in the Report
- Sealed Air
- BASF SE
- JSP
- Recticel Engineered Foams Belgium BV
- Rogers Foam Corporation
- Zotefoams Plc (UK)
- Synthos
- Sekisui Alveo
- SABIC
- Celanese Corporation
Competitive Landscape
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Manufacturers operating in the global foam packaging market include Sealed Air, BASF SE, JSP, Recticel Engineered Foams Belgium BV, Rogers Foam Corporation, Zotefoams Plc (UK), Synthos, Sekisui Alveo, SABIC, and Celanese Corporation.
Frequently Asked Questions
The base year considered for the global foam packaging market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016 and 2021 are the historic years, and the forecast is provided from 2023 to 2031.
COVID-19 hampered the global foam packaging market moderately, as it is used in various end-use industries.
Major manufacturers include Sealed Air, BASF SE, JSP, Recticel Engineered Foams Belgium BV, Rogers Foam Corporation, Zotefoams Plc (UK), Synthos, Sekisui Alveo, SABIC, and Celanese Corporation.
Supply chain disruptions, fluctuation of raw material prices, environmental regulations, industrialization, and disposable income are some of the macroeconomic factors that are the market.
Additional company profiles are provided on request. For a discussion related to the above findings, click Speak to Analyst.
Table Of Content
Chapter 1 Executive SummaryChapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Foam Packaging Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Foam Packaging Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Foam Packaging Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Foam Packaging Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Foam Packaging Market Size & Forecast, 2016-2031
4.5.1 Foam Packaging Market Size and Y-o-Y Growth
4.5.2 Foam Packaging Market Absolute $ Opportunity
Chapter 5 Global Foam Packaging Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Foam Packaging Market Size Forecast By Type
5.2.1 Flexible
5.2.2 Rigid
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Foam Packaging Market Analysis and Forecast By Material
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Material
6.1.2 Basis Point Share (BPS) Analysis By Material
6.1.3 Absolute $ Opportunity Assessment By Material
6.2 Foam Packaging Market Size Forecast By Material
6.2.1 Polyurethane
6.2.2 Polystyrene
6.2.3 Polyolefin
6.2.4 Phenolic
6.2.5 PET
6.2.6 Others
6.3 Market Attractiveness Analysis By Material
Chapter 7 Global Foam Packaging Market Analysis and Forecast By End Use Industry
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By End Use Industry
7.1.2 Basis Point Share (BPS) Analysis By End Use Industry
7.1.3 Absolute $ Opportunity Assessment By End Use Industry
7.2 Foam Packaging Market Size Forecast By End Use Industry
7.2.1 Automotive
7.2.2 Food & Beverage
7.2.3 Beauty & Personal Care
7.2.4 Electrical and Electronics
7.2.5 Others
7.3 Market Attractiveness Analysis By End Use Industry
Chapter 8 Global Foam Packaging Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Foam Packaging Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Foam Packaging Analysis and Forecast
10.1 Introduction
10.2 North America Foam Packaging Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Foam Packaging Market Size Forecast By Type
10.6.1 Flexible
10.6.2 Rigid
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 North America Foam Packaging Market Size Forecast By Material
10.10.1 Polyurethane
10.10.2 Polystyrene
10.10.3 Polyolefin
10.10.4 Phenolic
10.10.5 PET
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis By Material
10.12 Absolute $ Opportunity Assessment By Material
10.13 Market Attractiveness Analysis By Material
10.14 North America Foam Packaging Market Size Forecast By End Use Industry
10.14.1 Automotive
10.14.2 Food & Beverage
10.14.3 Beauty & Personal Care
10.14.4 Electrical and Electronics
10.14.5 Others
10.15 Basis Point Share (BPS) Analysis By End Use Industry
10.16 Absolute $ Opportunity Assessment By End Use Industry
10.17 Market Attractiveness Analysis By End Use Industry
Chapter 11 Europe Foam Packaging Analysis and Forecast
11.1 Introduction
11.2 Europe Foam Packaging Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Foam Packaging Market Size Forecast By Type
11.6.1 Flexible
11.6.2 Rigid
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Europe Foam Packaging Market Size Forecast By Material
11.10.1 Polyurethane
11.10.2 Polystyrene
11.10.3 Polyolefin
11.10.4 Phenolic
11.10.5 PET
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis By Material
11.12 Absolute $ Opportunity Assessment By Material
11.13 Market Attractiveness Analysis By Material
11.14 Europe Foam Packaging Market Size Forecast By End Use Industry
11.14.1 Automotive
11.14.2 Food & Beverage
11.14.3 Beauty & Personal Care
11.14.4 Electrical and Electronics
11.14.5 Others
11.15 Basis Point Share (BPS) Analysis By End Use Industry
11.16 Absolute $ Opportunity Assessment By End Use Industry
11.17 Market Attractiveness Analysis By End Use Industry
Chapter 12 Asia Pacific Foam Packaging Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Foam Packaging Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Foam Packaging Market Size Forecast By Type
12.6.1 Flexible
12.6.2 Rigid
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Asia Pacific Foam Packaging Market Size Forecast By Material
12.10.1 Polyurethane
12.10.2 Polystyrene
12.10.3 Polyolefin
12.10.4 Phenolic
12.10.5 PET
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis By Material
12.12 Absolute $ Opportunity Assessment By Material
12.13 Market Attractiveness Analysis By Material
12.14 Asia Pacific Foam Packaging Market Size Forecast By End Use Industry
12.14.1 Automotive
12.14.2 Food & Beverage
12.14.3 Beauty & Personal Care
12.14.4 Electrical and Electronics
12.14.5 Others
12.15 Basis Point Share (BPS) Analysis By End Use Industry
12.16 Absolute $ Opportunity Assessment By End Use Industry
12.17 Market Attractiveness Analysis By End Use Industry
Chapter 13 Latin America Foam Packaging Analysis and Forecast
13.1 Introduction
13.2 Latin America Foam Packaging Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Foam Packaging Market Size Forecast By Type
13.6.1 Flexible
13.6.2 Rigid
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Latin America Foam Packaging Market Size Forecast By Material
13.10.1 Polyurethane
13.10.2 Polystyrene
13.10.3 Polyolefin
13.10.4 Phenolic
13.10.5 PET
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis By Material
13.12 Absolute $ Opportunity Assessment By Material
13.13 Market Attractiveness Analysis By Material
13.14 Latin America Foam Packaging Market Size Forecast By End Use Industry
13.14.1 Automotive
13.14.2 Food & Beverage
13.14.3 Beauty & Personal Care
13.14.4 Electrical and Electronics
13.14.5 Others
13.15 Basis Point Share (BPS) Analysis By End Use Industry
13.16 Absolute $ Opportunity Assessment By End Use Industry
13.17 Market Attractiveness Analysis By End Use Industry
Chapter 14 Middle East & Africa (MEA) Foam Packaging Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Foam Packaging Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Foam Packaging Market Size Forecast By Type
14.6.1 Flexible
14.6.2 Rigid
14.7 Basis Point Share (BPS) Analysis By Type
14.8 Absolute $ Opportunity Assessment By Type
14.9 Market Attractiveness Analysis By Type
14.10 Middle East & Africa (MEA) Foam Packaging Market Size Forecast By Material
14.10.1 Polyurethane
14.10.2 Polystyrene
14.10.3 Polyolefin
14.10.4 Phenolic
14.10.5 PET
14.10.6 Others
14.11 Basis Point Share (BPS) Analysis By Material
14.12 Absolute $ Opportunity Assessment By Material
14.13 Market Attractiveness Analysis By Material
14.14 Middle East & Africa (MEA) Foam Packaging Market Size Forecast By End Use Industry
14.14.1 Automotive
14.14.2 Food & Beverage
14.14.3 Beauty & Personal Care
14.14.4 Electrical and Electronics
14.14.5 Others
14.15 Basis Point Share (BPS) Analysis By End Use Industry
14.16 Absolute $ Opportunity Assessment By End Use Industry
14.17 Market Attractiveness Analysis By End Use Industry
Chapter 15 Competition Landscape
15.1 Foam Packaging Market: Competitive Dashboard
15.2 Global Foam Packaging Market: Market Share Analysis, 2022
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 Sealed Air
15.3.2 BASF SE
15.3.3 JSP
15.3.4 Recticel Engineered Foams Belgium BV
15.3.5 Rogers Foam Corporation
15.3.6 Zotefoams Plc (UK)
15.3.7 Synthos
15.3.8 Sekisui Alveo
15.3.9 SABIC
15.3.10 Celanese Corporation
Methodology
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