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Foam Packaging Market Growth Opportunities & Forecast [2031]

Foam Packaging Market

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Segments - 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

MC-6152
4.8 Rating
300 Pages

22-12-2022
64 Reviews

Author :

Riddhesh Dani

Fact-checked by :

Harneet Meher

Editor :

Shruti Bhat

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.

Attributes	Details
Report Title	Foam Packaging Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016 and 2021
Forecast Period	2023–2031
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))
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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

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

In-depth Analysis of the Global Foam Packaging Market
Historical, Current, and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
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

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.

Table Of Content

Chapter 1 Executive Summary
Chapter 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

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