Future Market Insights (FMI) delivers key insights on the global packaging foam market in its published report titled “Packaging Foam Market: Global Industry Analysis 2012-2021 and Opportunity Assessment 2022-2026”.
In terms of revenue, the global packaging foam market is projected to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors on which FMI sheds light in this report. In terms of volume, the global packaging foam market is anticipated to register a CAGR of 5.2%, during the forecast period. The Asia Pacific packaging foam market is expected to remain in the leading position during the forecast period.
Packaging foam is used for protective packaging solutions and is suitable for lightweight products. Packaging foam is made by trapping pockets of gas in liquids or solids.
The increase in technological developments in packaging has resulted in the growth of the global packaging foam market. The advancements in the transportation industry are positively affecting the growth of the global packaging foam market.
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In this report, Future Market Insights suggests that the growth of packaging foam market can be mainly attributed to the contributions from emerging economies like India and China in the APEJ region. The packaging foam market in China is expected to be at the forefront, spearheading the growth of packaging foam, during the forecast period.
According to the research by Future Market Insights, the demand for packaging foam has witnessed rapid growth in China in the past couple of decades. The APEJ region is characterized by a robust political, demographic, and economic ecosystem of the leading emerging economies and a rapidly growing packaging foam market in the region will lead to optimum growth levels in the coming decade.
End users of packaging foam such as automobile, construction, food & beverages, consumer electronics, and homecare & personal care industries are increasingly adopting foams in packaging to increase the safety level of their products.
The increase in the manufacturing activity and industrial output has led to the growing sales of packaging foam. Manufacturing activity and industrial output remain vital to both, the developed and the developing economies.
Such activities contribute to exports, research and development, and productivity which will lead to mature markets in various nations. In emerging economies, the increase in the consumption of end products due to a change in living standards and growing income has created new market opportunities for packaging foams. The revenue generated from packaging foam in the Asia Pacific Excluding Japan (APEJ) region is estimated to account for over 42.2% of the global packaging foam market.
E-commerce is the prime consumer of the packaging foam industry. The retail environment in developing countries such as China, India, and Malaysia has experienced a massive transformation with a significant increase in the number of retail formats such as hypermarkets, supermarkets, convenience stores, and retail e-commerce which have led to the growth of the global packaging foam market.
The rising Internet penetration across the globe has witnessed a continuous shift in the purchasing pattern of an individual and has increased the awareness among the people to use the packaging foams for the safety of products. Along with growing disposable incomes and lesser time spent on shopping manually, e-tailing is gaining massive traction among individuals. In addition to this, e-commerce has reduced the destination barriers which have fuelled cross-border retailing among high-net-worth individuals.
Moreover, rising smartphone penetration and ease in the availability of the Internet are considerably driving the growth of packaging foams. Therefore, the continuous growth in the e-commerce industry along with an increase in mobile shopping is expected to drive the growth of the packaging foams market. Manufacturers and retailers use simplified designs, lightweight packs, and recyclable materials for transportation of the products.
Key players of global packaging foam include Armacell, JSP, Zotefoams Plc., BASF SE, Sealed Air Corporation, Synthos SA, Rogers Corporation, Kaneka Corporation, Arkema, and Foampartner Group.
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Competitive Landscape
Leading players operating in the packaging foam market are investing vigorously in research activities for the development of bio-based products. Besides this, they are leveraging various growth strategies such as partnerships, acquisitions, collaborations and partnerships to dominate the market. For instance
In November 2021, Stora Enso expanded its packaging portfolio with the launch of new bio-based foams i.e., Fibrease and Papira. The new products are lighter and fully recyclable. They are ideal for protective and thermal packaging.
In November 2020, Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, launched new Armacell Solutions Portfolio into North American market.
Packaging Foam Market by Category
By Material Type:
- Polystyrene
- Polyurethane (PU)
- Poly Vinyl Chloride (PVC)
- Others
By Product Type:
- Flexible Foam
- Rigid Foam
By End Use:
- Automobile Industry
- Construction Industry
- Food & Beverages Industry
- Consumer Electronics
- Homecare & Personal Care
By Application:
- Inserts
- Corner & Edge Protectors
- Anti-Static ESD Foam
- Liners
- Other
By Region:
- North America
- Latin America
- Europe
- APEJ
- Japan
- MEA
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Report Objectives
- To analyze and forecast the global Packaging Foam market size in terms of value and volume
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To define, describe, and forecast the market by type, material, and application
- To forecast the market size with respect to five main regions: Asia Pacific (APAC), the Middle East & Africa, Europe, North America, and South America
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
- To analyze competitive developments in the market, such as investments & expansions, new product developments, partnerships & collaborations, and mergers & acquisitions
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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