Future Market Insights (FMI) predicts significant growth in the polystyrene packaging market, with a projected CAGR of 4.4% between 2022 and 2032. Sales are expected to increase from US$ 23 billion in 2022 to US$ 35.5 billion in 2032.
The adaptability of polystyrene packaging to various needs is a key driver for this growth. Transparency, which allows customers to see the products being sold, is particularly important in industries such as food and healthcare.
The increasing demand for transparency and clean label products has led customers to prefer polystyrene packaging, as it provides visibility to the items inside. Polystyrene packaging also helps in keeping goods fresh and extends their shelf life, making it particularly valuable in the food industry.
Furthermore, polystyrene is naturally present in many foods, and expanded polystyrene, which is both recyclable and environmentally friendly, is gaining popularity. Manufacturers are focusing on polystyrene packaging due to its affordability, versatility, ability to preserve food freshness, and transparency.
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The use of polystyrene material in packaging offers various properties, including the reduction of food-borne illnesses. Its ability to keep food fresh has increased the demand for polystyrene packaging, benefiting restaurants and online delivery services in maintaining the quality of food items and satisfying end-users
Key Takeaways from Global Polystyrene Packaging Market
- Sales of cups segment are expected to increase 1.9x by the end of 2032 due to increasing demand for polystyrene cups in food & beverage sector.
- In terms of end-use, the food & beverage industry is expected to grow at CAGR of 5.5% between 2022 and 2032.
- South Asia and East Asia are estimated as lucrative markets for polystyrene packaging
- India is expected to dominate the South Asia polystyrene market on the back of expansion of pharmaceutical industry.
“Polystyrene, from which EPS foam is made have properties like compressive strength, tensile strength, and thermal insulation. This is expected to gain traction in a multitude of industries, including food & beverage and pharmaceutical in the upcoming decade.” – Comments FMI analyst
Increased Demand from Pharmaceutical Industry to Boost Polystyrene Packaging Market
As per FMI, healthcare and pharma both are revenue-generating industries. Polystyrene is a material with properties of stability, versatility and insulation used for packaging healthcare-related materials. In the pharmaceutical industry, reliability and freshness are important and polystyrene helps in maintaining them.
Polystyrene also helps in preventing contamination, which is very important for the pharma industry. Hence, the increased demand for pharma materials is driving the polystyrene packaging market and the trend is likely to continue over the next decade.
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Global Polystyrene Packaging Market Landscape
ACH Foam Technologies, Alpek SAB de CV, Jackon, Monotez, Sunpor Kunststoff, Styrochem, Versalis, Sonoco Products Company, Sealed Air Corp, Huhtamaki Oyj, Rogers Foam, NEFAB GROUP, Huebach Corporation, and Ohishi Sangyo Co.,Ltd.
Global Polystyrene Packaging Market by Category
By Material, Global Polystyrene Packaging Market is Segmented as:
- Foam
- Plastic
By Product, Global Polystyrene Packaging Market is Segmented as:
- Bowls
- Cups
- Bags
- Pouches
- Wraps & Films
- Boxes & Clamshell
- Plates & Trays
By End Use Industry, Global Polystyrene Packaging Market is Segmented as:
- Food & beverage
- Pharmaceutical
- Electrical & Electronics
- Cosmetics & Personal Care
- Automotive
- Aerospace
- Consumer Goods
By Region, Global Polystyrene Packaging Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
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