USD 12.8 billion
Packaging Foams Market Size, Share, Growth Analysis, By Type(Expanded Polystyrene (EPS) Foam, Polyurethane (PU) Foam and Polyethylene (PE) Foam), By Application(Food & Beverage Packaging, Electronics Packaging, Automotive Packaging, Industrial Packaging), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15H2023 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Packaging Foams Market Insights
Packaging Foams Market size was valued at USD 12.8 billion in 2021 and is poised to grow from USD 13.48 billion in 2022 to USD 20.37 billion by 2030, growing at a CAGR of 5.3% during the forecast period (2023-2030).
The global packaging foams market with the exponential growth of online retail and the need to protect goods during shipping, packaging foams have become essential for ensuring product integrity it has witnessed significant growth in recent years, driven by increasing demand for protective packaging solutions across various industries. One of the primary drivers of the packaging foams market is the rising e-commerce industry. The ability of foams to protect fragile and delicate items, such as electronics, glassware, and consumer goods, has led to increased adoption by e-commerce businesses worldwide. Moreover, the growing trend of sustainable packaging has also boosted the demand for eco-friendly packaging foams, which offer both protection and environmental benefits. Another significant factor contributing to the market growth is the increasing focus on product safety and minimizing damage during transit. Packaging foams play a crucial role in reducing the risk of product breakage and ensuring that goods reach their destination in optimal condition. As a result, industries such as electronics, automotive, healthcare, and food and beverages heavily rely on packaging foams to safeguard their products from impacts, vibrations, and temperature fluctuations.
US Packaging Foams Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Expanded Polystyrene Foams
Fastest Growth
Expanded Polystyrene Foams
Growth Rate
5.3% CAGR
Global Packaging Foams Market By Country ($ Bn)
Country Share for Asia - Pacific Region (%)
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Packaging Foams Market Segmental Analysis
Global Packaging Foams Market is segmented by type, application, and region. Based on type, the market can be segmented into Expanded Polystyrene (EPS) Foam, Polyurethane (PU) Foam and Polyethylene (PE) Foam. Based on application, the market is segmented into Food & Beverage Packaging, Electronics Packaging, Automotive Packaging, Industrial Packaging, Healthcare Packaging and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Packaging Foams Market Analysis by Type
In the global packaging foams market, among Expanded Polystyrene (EPS) Foam, Polyurethane (PU) Foam, and Polyethylene (PE) Foam, the dominant type is Expanded Polystyrene (EPS) Foam. EPS foam is widely used in various industries due to its excellent insulation properties, lightweight nature, and cost-effectiveness. It finds applications in packaging materials, construction, electronics, and food and beverage packaging.
Regarding the fastest-growing type in the global packaging foams market, Polyurethane (PU) Foam stands out. Polyurethane foam offers superior cushioning and protection, making it highly suitable for fragile and sensitive products during transportation and storage. It finds extensive applications in industries such as electronics, automotive, and appliances. The growing demand for electronics and the increasing focus on product safety and protection are driving the demand for Polyurethane (PU) Foam in the packaging industry.
Packaging Foams Market Analysis by Application
In the global packaging foams market, the dominant application is the Food & Beverage Packaging segment. The food and beverage industry extensively utilizes packaging foams to ensure the safe transportation and storage of perishable food items and beverages. Packaging foams provide excellent cushioning and protective properties, preventing damage to delicate food products during transit. The need for maintaining the freshness and quality of food and beverage items has led to the significant dominance of this segment in the packaging foams market.
On the other hand, the fastest-growing application in the global packaging foams market is the Healthcare Packaging segment. With the increasing focus on healthcare and advancements in medical technologies, the demand for specialized packaging solutions for medical devices, pharmaceuticals, and healthcare products has surged. Packaging foams offer properties like shock absorption, thermal insulation, and moisture resistance, making them ideal for protecting and preserving sensitive healthcare products. The growing demand for healthcare packaging, driven by factors such as an aging population, rising healthcare expenditure, and the need for safe and efficient medical packaging, contributes to the rapid growth of this segment.
Global Packaging Foams Market By Type
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Packaging Foams Market Regional Insights
Asia-Pacific dominated region in the global packaging foams market. This region has witnessed significant growth in recent years, primarily driven by countries like China, India, Japan, and South Korea. Asia-Pacific is home to a large manufacturing base and has a robust demand for packaging materials across various industries, including electronics, consumer goods, automotive, and e-commerce. The presence of major manufacturing hubs, coupled with the increasing population and rising disposable income, has contributed to the dominance of Asia-Pacific in the packaging foams market.
On the other hand, the fastest-growing region in the global packaging foams market is expected to be the Middle East and Africa (MEA). The MEA region is experiencing rapid industrialization, urbanization, and infrastructure development, which is driving the demand for packaging materials. Additionally, the growing e-commerce industry and increasing consumer spending in countries like the United Arab Emirates, Saudi Arabia, and South Africa are fueling the need for efficient and sustainable packaging solutions. As a result, the MEA region is expected to witness significant growth in the packaging foams market.
Global Packaging Foams Market By Geography
- Largest
- Fastest
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Packaging Foams Market Dynamics
Packaging Foams Market Drivers
Focus on sustainable and eco-friendly packaging
- With increasing concerns over environmental impact and stricter regulations regarding packaging waste, there is a heightened focus on sustainable and eco-friendly packaging solutions. The packaging foams market is experiencing a rise in demand for foam materials made from recycled or bio-based sources, as well as those that are recyclable or biodegradable. This shift towards sustainable packaging practices is driving the need for eco-friendly packaging foams.
Packaging Foams Market Restraints
Increasing preference for alternative packaging materials
- The packaging industry is undergoing a notable transition towards alternative packaging materials, including paper-based packaging, molded pulp, and bioplastics. These materials are considered more sustainable and environmentally friendly when compared to traditional foam packaging. As a result, there is an increasing preference for these alternatives among consumers and businesses. This growing inclination towards alternative materials presents a challenge to the growth of the packaging foams market. Manufacturers must adapt to evolving market demands and develop more sustainable solutions to stay competitive.
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Packaging Foams Market Competitive Landscape
The global packaging foams market is a highly competitive landscape, characterized by the presence of numerous players vying for market share. Packaging foams are widely used in various industries, including electronics, automotive, food and beverages, pharmaceuticals, and consumer goods. These foams provide cushioning, shock absorption, and protection during transportation and storage of goods. The market is driven by several factors, including the growing e-commerce industry and increased emphasis on sustainable packaging solutions. With the rise of online shopping, there is a higher demand for secure and protective packaging to ensure the safe delivery of products. Packaging foams play a vital role in safeguarding goods from damage caused by vibrations, impacts, and other external factors.
Packaging Foams Market Top Player’s Company Profiles
- Sealed Air Corporation (US)
- Dow Chemical Company (US)
- BASF SE (Germany)
- Arkema SA (France)
- Sonoco Products Company (US)
- Zotefoams PLC (UK)
- Recticel NV (Belgium)
- JSP Corporation (Japan)
- Synthos SA (Poland)
- Rogers Corporation (US)
- Borealis AG (Austria)
- Pregis LLC (US)
- FoamPartner Group (Switzerland)
- Kaneka Corporation (Japan)
- Armacell International S.A. (Luxembourg)
- Sekisui Alveo AG (Switzerland)
- Nitto Denko Corporation (Japan)
- SABIC (Saudi Arabia)
- Innospec Inc. (US)
- Vita Group (UK)
Packaging Foams Market Recent Developments
- In February 2023, Sealed Air Corporation announced that it has acquired FoamPartner Group, a leading provider of sustainable packaging foams. The acquisition is expected to help Sealed Air expand its product portfolio and reach new markets.
- In January 2023, Sonoco Products Company announced that it has opened a new packaging foams manufacturing facility in China. The facility is expected to help Sonoco meet the growing demand for packaging foams in the Chinese market.
- In December 2022, BASF SE announced that it has developed a new type of packaging foam that is made from renewable materials. The new foam is expected to help BASF reduce its environmental impact and meet the growing demand for sustainable packaging solutions.
- In November 2022, The Dow Chemical Company announced that it has launched a new line of packaging foams that are designed to improve the sustainability of packaging. The new foams are made from recycled materials and are compostable.
- In October 2022, Sealed Air Corporation announced that it has launched a new packaging foam that is designed to reduce the risk of product damage during shipping. The new foam is made from a more durable material and is designed to absorb shocks.
Packaging Foams Key Market Trends
- A significant market trend in the global packaging foams market is the increasing demand for sustainable and eco-friendly packaging solutions. As environmental concerns continue to gain prominence, consumers, regulatory bodies, and businesses are increasingly focused on reducing the environmental impact of packaging materials. This has led to a growing preference for packaging foams that are made from recyclable or biodegradable materials. Manufacturers in the packaging foam industry are actively developing innovative solutions that offer the same level of protection and cushioning while minimizing their carbon footprint.
Packaging Foams Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to theGlobal Packaging Foams analysis, the market is experiencing significant growth, driven by various factors such as the rising demand for protective packaging solutions, increasing e-commerce activities, and advancements in the packaging industry. Packaging foams offer excellent cushioning and shock absorption properties, ensuring the safe transportation of goods across various sectors including electronics, automotive, food and beverages, and healthcare. With the rising focus on ensuring product safety during transportation and storage, manufacturers across industries are increasingly adopting packaging foams to safeguard their goods from damages and breakages. The ability of packaging foams to absorb impacts and vibrations makes them an ideal choice for fragile and sensitive products. The expansion of e-commerce activities is another crucial factor contributing to the growth of the packaging foams market. The rapid growth of online retailing has created a high demand for reliable and efficient packaging materials to protect goods during shipping. Packaging foams provide excellent cushioning and insulation, reducing the risk of product damage and ensuring a positive customer experience. As e-commerce continues to thrive, the demand for packaging foams is expected to witness a steady increase. Furthermore, advancements in the packaging industry, particularly in terms of innovative materials and technologies, are driving market growth. Manufacturers are investing in research and development activities to develop foams with enhanced properties, such as lightweight, recyclability, and biodegradability, to meet the growing sustainability requirements. Additionally, the incorporation of smart packaging technologies that offer features like temperature control, tracking, and tamper-evidence is further fueling the demand for packaging foams.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.8 billion |
| Market size value in 2031 | USD 20.37 billion |
| Growth Rate | 5.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Packaging Foams Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Packaging Foams Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Packaging Foams Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Packaging Foams Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Packaging Foams Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Packaging Foams Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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