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Foam Packaging Market Size - By Product Type (Flexible Foam and Rigid Foam), By Material Type, By Application & By End-User: Global Forecast By 2033

  • PUBLISHED ON
  • 2024-10-11
  • NO OF PAGES
  • 290
  • CATEGORY
  • Packaging

Market Overview

Foam Packaging Market is projected to achieve a value of USD 17,842.6 Million in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 28,877.6 Million by 2033 with a CAGR of 5.4% during the forecast period 2023-2033.

Foam packaging is a type of protective packaging material made from various types of foam, typically polyurethane foam or expanded polystyrene (EPS), which is also known as styrofoam. Foam packaging is designed to provide cushioning and protection for fragile or delicate items during shipping, handling, and storage. It is widely used in various industries, including electronics, manufacturing, healthcare, and more.

Polyurethane foam is a flexible, resilient material that can be cut and shaped to fit the specific contours of the product it is protecting. It is often used for high-value and delicate items, such as electronics, glassware, and medical equipment. Polyurethane foam comes in various densities, allowing for customization in terms of cushioning and shock absorption.

EPS foam, commonly known as styrofoam, is a rigid foam material. It is lightweight and excellent at providing insulation and impact resistance. EPS foam is often used for items that require thermal protection, like perishable goods, as well as for lightweight cushioning of products during shipping.

There Are Some Key Findings From Foam Packaging Market Consumer Surveys Conducted:

·         Consumers are aware of the environmental impact of foam packaging: 75% of consumers are aware that foam packaging is not biodegradable and can take hundreds of years to decompose.

·         Consumers are concerned about the environmental impact of foam packaging: 65% of consumers are concerned about the environmental impact of foam packaging and would like to see more sustainable packaging solutions.

·         Consumers are willing to pay more for sustainable packaging solutions: 55% of consumers are willing to pay more for sustainable packaging solutions, such as those made from recycled materials or compostable materials.

·         Consumers are willing to recycle foam packaging: 60% of consumers are willing to recycle foam packaging, but they say that it is often difficult to find recycling facilities that accept foam packaging.

These consumer surveys is set to boost the growth of foam packaging market.

Market Scope

Report Attributes

Description

Market Size in 2023

USD 17,842.6 Million

Market Forecast in 2033

USD 28,877.6 Million

CAGR % 2023-2033

5.4%

Base Year

2022

Historic Data

2016-2022

Forecast Period

2023-2033

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

Product type, material type, application and End-user

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

JSP Corporation, UFP Technologies Inc., Synbra Holding bv, UFP Technologies, Armacell LLC, Tosoh Corporation, ACH Foam Technologies, FoamCraft Packaging Inc, Hanwha Corporation, Plastifoam Company, Marko Foam Products Inc., TotalEnergies, NCFI Polyurethanes, Huebach Corporation, Wasatch Container, Dongshing Industry Inc., Zotefoams Plc., Borealis Arkema, Kaneka Corporation, Recticel, Sealed Air Corporation, BASF SE, Synthos SA, and Ohers.

 Market Dynamics

The e-commerce market is growing rapidly, and this is driving the demand for foam packaging. Foam packaging is used to protect products from damage during shipping and handling.

The food and beverage industry is another major driver of the foam packaging market. Foam packaging is used to protect food and beverages from contamination and spoilage.

Rising disposable income is leading to increased demand for consumer goods, which is driving the demand for foam packaging. Foam packaging is used to package a wide range of consumer goods, including electronics, appliances, and furniture.

Businesses are becoming increasingly aware of the importance of product protection. Foam packaging is an effective way to protect products from damage, and this is driving the demand for foam packaging market.

The foam packaging industry is constantly innovating, and this is leading to the development of new and improved foam packaging solutions. For example, some foam packaging companies are developing foam packaging solutions that are made from sustainable materials.

Foam packaging is not biodegradable and can take hundreds of years to decompose. This is a major environmental concern, and it is leading to a growing backlash against foam packaging.

Governments around the world are enacting stricter regulations on single-use plastics and other non-sustainable packaging materials. This is putting pressure on foam packaging companies to develop more sustainable packaging solutions, thereby boosting the growth of foam packaging market.

There are a number of alternative packaging materials that are more sustainable than foam packaging. For example, paperboard, cardboard, and compostable plastics are all becoming more popular packaging materials.

Sustainable packaging solutions are often more expensive than traditional foam packaging solutions. This can be a barrier for businesses that are looking to switch to more sustainable packaging options.

Market Product Type Analysis

The flexible foam segment accounts for the largest share of around 75% of the foam packaging market. This is due to the versatility and cost-effectiveness of flexible foam. Flexible foam is also a good choice for packaging products that require protection from shock and vibration.

The rigid foam segment is expected to grow at a faster rate than the flexible foam segment in the coming years. This is due to the increasing demand for rigid foam for packaging sensitive products and large and heavy items.

Flexible foam is the most widely used type of foam packaging. It is lightweight, durable, and easy to mold. Flexible foam is used to package a wide range of products, including electronics, furniture, and food and beverages.

Rigid foam is less common than flexible foam, but it is still widely used for packaging sensitive products, such as pharmaceuticals and medical devices. Rigid foam is also used for packaging large and heavy items, such as appliances and machinery.

Market Material Type Analysis

The polystyrene segment accounts for the largest share of around 45% of the foam packaging market. This is due to the low cost, versatility, and good insulating properties of PS foam. PS foam is also used for a wide range of packaging applications, including food and beverage packaging, consumer goods packaging, and industrial packaging.

The polyethylene segment is expected to grow at a faster rate than the polystyrene segment in the coming years within the foam packaging market. This is due to the growing demand for PE foam for packaging sensitive products, such as pharmaceuticals and medical devices. PE foam is also becoming more popular for packaging food and beverages, as it is resistant to water and chemicals.

The polyurethane segment is also expected to grow at a faster rate than the polystyrene segment in the coming years. This is due to the growing demand for PU foam for packaging sensitive products and large and heavy items. PU foam is also becoming more popular for packaging food and beverages, as it has good insulating properties.

Market Application Analysis

The inserts segment accounts for around 35% market share of the foam packaging market. This is because inserts are used to protect a wide range of products in a variety of industries. Inserts are also relatively inexpensive and easy to produce.

The corner and edge protectors segment is expected to grow at a faster rate than the inserts segment in the coming years. This is due to the growing demand for e-commerce and the increasing demand for corner and edge protectors to protect products from damage during shipping and handling.

The anti-static, ESD foam segment is also expected to grow at a faster rate than the inserts segment in the coming years. This is due to the growing electronics industry and the increasing demand for anti-static, ESD foam to protect electronic components from damage.

Market End-User Analysis

Food and beverages is the largest end-user segment accounting for around 28% of the market share of the foam packaging market. Foam packaging is used to protect food and beverages from damage, contamination, and spoilage. Foam packaging is also used to insulate food and beverages, which helps to maintain their freshness and quality.

Electrical and electronics is the second-largest end-user segment of the market. Foam packaging is used to protect electronic components and devices from damage, electrostatic discharge (ESD), and other environmental hazards. Foam packaging is also used to insulate electronic components and devices, which helps to regulate their temperature.

Medical and pharmaceutical is the third-largest end-user segment of the foam packaging market. Foam packaging is used to protect medical devices and pharmaceuticals from damage, contamination, and spoilage. Foam packaging is also used to insulate medical devices and pharmaceuticals, which helps to maintain their sterility and efficacy.

Automotive is the fourth-largest end-user segment of the market. Foam packaging is used to protect automotive components and vehicles from damage during shipping and handling. Foam packaging is also used to insulate automotive components and vehicles, which helps to improve their performance and fuel efficiency.

Personal care is the fifth-largest end-user segment of the foam packaging market. Foam packaging is used to protect personal care products, such as cosmetics and toiletries, from damage, contamination, and spoilage. Foam packaging is also used to insulate personal care products, which helps to maintain their quality and freshness.

Market Regional Analysis

Asia Pacific is the largest regional shareholder for foam packaging market accounting for around 37% share of the market. This is due to the region's large population and growing economy. The Asia Pacific region is also home to a number of major manufacturing industries, which drives the demand for foam packaging.

North America is the second-largest regional shareholder for foam packaging. This is due to the region's high disposable income and large consumer base. The North American region is also home to a number of leading foam packaging companies.

Europe is the third-largest regional market for foam packaging. This is due to the region's well-developed economy and high standard of living. The European region is also home to a number of major foam packaging companies.

Latin America and the Middle East and Africa are smaller regional markets for foam packaging market. However, these markets are expected to grow in the coming years, driven by the region's growing population and economy.

Competitive Analysis

Amcor is the leading foam packaging company in the world, with a market share of around 10-12%. Sealed Air and Pregis are also major players in the market, with market shares of 8-10% and 6-8%, respectively. PCA, WestRock, and Nippon Paper Industries are also important players in the market, with market shares of around 5-6% each.

The foam packaging market is highly fragmented, with a number of small and medium-sized companies operating in the market. The top 10 companies account for around 50-55% of the market share, with the remaining market share being held by a number of smaller companies.

By Product Type

·         Flexible Foam

·         Rigid Foam

By Material Type

·         Polystyrene

·         Polyethylene

·         Polyurethane

·         polypropylene

·         Poly Vinyl Chloride

By Application

·         Inserts

·         Corner and edge protectors

·         Anti-Static ESD Foam

·         Liners

By End-User

·         Medical and Pharmaceutical

·         Food and Beverages

·         Aerospace and Defence

·         Automotive

·         Electrical and Electronics

·         Personal Care

·         Consumer Packaging

·         Others

1.       Global Foam Packaging Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Foam Packaging Market Scope and Market Estimation

1.2.1.Global Foam Packaging Overall Market Size, Revenue (US$ Mn) and Volume (Tons), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2.Global Foam Packaging Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1.Material Type of Global Foam Packaging Market

1.3.2.Product Type of Global Foam Packaging Market

1.3.3.Application of Global Foam Packaging Market

1.3.4.End-user of Global Foam Packaging Market

1.3.5.Region of Global Foam Packaging Market

2.       Executive Summary

3.       Market Factor Analysis

3.1.   Global Foam Packaging Market Application Trends under COVID-19 Outbreak

3.1.1.Global COVID-19 Status Overview

3.1.2.Influence of COVID-19 Outbreak on Global Foam Packaging Market Application Development

3.2.   Market Dynamics

3.2.1.Drivers

3.2.2.Limitations

3.2.3.Opportunities

3.2.4.Impact Analysis of Drivers and Restraints

3.3.   Value Chain/ Ecosystem Analysis

3.3.1.Manufacturers / Vendors

3.3.2.Distributors

3.3.3.Buyers / End-users

3.3.4.Forward Integration & Backward Integration of Key Stakeholders

3.4.   Global Foam Packaging Market - Pricing Trends Analysis & Average Selling Prices (ASPs)

3.5.   Porter’s Five Forces Analysis

3.5.1.Bargaining Power of Suppliers

3.5.2.Bargaining Power of Buyers

3.5.3.Threat of Substitutes

3.5.4.Threat of New Entrants

3.5.5.Competitive Rivalry

3.6.   PEST Analysis

3.6.1.Political Factors

3.6.2.Economic Factors

3.6.3.Social Factors

3.6.4.Technological Factors

3.7.   Impact of Russia Ukraine War on Foam Packaging Market

3.8.   Impact of Economic Downturn on Foam Packaging Market

3.9.   Foam Packaging Production Capacity, by Major Countries

3.10.  Market Investment Opportunity Analysis (Top Investment Pockets)

4.       Global Foam Packaging Market Estimates & Forecast Trend Analysis, by Material Type

4.1.    Global Foam Packaging Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Material Type, 2019 to 2033

4.1.1.Polystyrene

4.1.2.Polyethylene

4.1.3.Polyurethane

4.1.4.polypropylene

4.1.5.Poly Vinyl Chloride

5.       Global Foam Packaging Market Estimates & Forecast Trend Analysis, by Product Type

5.1.    Global Foam Packaging Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Product Type, 2019 to 2033

5.1.1.Flexible Foam

5.1.2.Rigid Foam

6.       Global Foam Packaging Market Estimates & Forecast Trend Analysis, by Application

6.1.    Global Foam Packaging Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Application, 2019 to 2033

6.1.1.Inserts

6.1.2.Corner and edge protectors

6.1.3.Anti-Static ESD Foam

6.1.4.Liners

7.       Global Foam Packaging Market Estimates & Forecast Trend Analysis, by End-user

7.1.    Global Foam Packaging Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by End-user, 2019 to 2033

7.1.1.Medical and Pharmaceutical

7.1.2.Food and Beverages

7.1.3.Aerospace and Defence

7.1.4.Automotive

7.1.5.Electrical and Electronics

7.1.6.Personal Care

7.1.7.Consumer Packaging

7.1.8.Others

8.       Global Foam Packaging Market Estimates & Forecast Trend Analysis, by Region

8.1.    Global Foam Packaging Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Region, 2019 to 2033

8.1.1.North America

8.1.2.Europe

8.1.3.Asia Pacific

8.1.4.Middle East & Africa

8.1.5.South America

9.       North America Foam Packaging Market: Estimates & Forecast Trend Analysis

9.1.    North America Foam Packaging Market Assessments & Key Findings

9.1.1.Foam Packaging Market Introduction

9.1.2.Foam Packaging Market Size Estimates and Forecast (US$ Million & Tons) (2019 to 2033)

9.1.2.1.   By Material Type

9.1.2.2.   By Product Type

9.1.2.3.   By Application

9.1.2.4.   By End-user

9.1.2.5.   By Country

9.1.2.5.1.     The U.S.

9.1.2.5.2.     Canada

9.1.2.5.3.     Mexico

10.   Europe Foam Packaging Market: Estimates & Forecast Trend Analysis

10.1.  Europe Foam Packaging Market Assessments & Key Findings

10.1.1.   Foam Packaging Market Introduction

10.1.2.   Foam Packaging Market Size Estimates and Forecast (US$ Million & Tons) (2019 to 2033)

10.1.2.1.    By Material Type

10.1.2.2.    By Product Type

10.1.2.3.    By Application

10.1.2.4.    By End-user

10.1.2.5.    By Country

10.1.2.5.1. Italy

10.1.2.5.2. Germany

10.1.2.5.3. U.K.

10.1.2.5.4. France

10.1.2.5.5. Spain

10.1.2.5.6. Rest of Europe

11.   Asia Pacific Foam Packaging Market: Estimates & Forecast Trend Analysis

11.1.  Asia Pacific Market Assessments & Key Findings

11.1.1.    Foam Packaging Market Introduction

11.1.2.    Foam Packaging Market Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 to 2033)

11.1.2.1.    By Material Type

11.1.2.2.    By Product Type

11.1.2.3.    By Application

11.1.2.4.    By End-user

11.1.2.5.    By Country

11.1.2.5.1. China

11.1.2.5.2. Japan

11.1.2.5.3. India

11.1.2.5.4. Australia

11.1.2.5.5. South Korea

11.1.2.5.6. ASEAN

11.1.2.5.7. Rest of Asia Pacific

12.   Middle East & Africa Foam Packaging Market: Estimates & Forecast Trend Analysis

12.1.  Middle East & Africa Market Assessments & Key Findings

12.1.1.   Foam Packaging Market Introduction

12.1.2.   Foam Packaging Market Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 to 2033)

12.1.2.1.    By Material Type

12.1.2.2.    By Product Type

12.1.2.3.    By Application

12.1.2.4.    By End-user

12.1.2.5.    By Country

12.1.2.5.1. U.A.E.

12.1.2.5.2. Saudi Arabia

12.1.2.5.3. Egypt

12.1.2.5.4. South Africa

12.1.2.5.5. Rest of Middle East & Africa

13.   South America Foam Packaging Market: Estimates & Forecast Trend Analysis

13.1.  South America Market Assessments & Key Findings

13.1.1.   Foam Packaging Market Introduction

13.1.2.   Foam Packaging Market Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 to 2033)

13.1.2.1.    By Material Type

13.1.2.2.    By Product Type

13.1.2.3.    By Application

13.1.2.4.    By End-user

13.1.2.5.    By Country

13.1.2.5.1. Brazil

13.1.2.5.2. Argentina

13.1.2.5.3. Colombia

13.1.2.5.4. Rest of South America

14.   Competition Landscape

14.1.  Foam Packaging Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

14.2.  Foam Packaging Market Competition Regional Intensity Map Analysis, By Geographies Served

14.3.  Foam Packaging Market Concentration & Company Market Shares (%) Analysis, 2022

15.   Company Profiles

15.1.                     JSP Corporation

15.1.1.    Company Overview & Key Stats

15.1.2.    Financial Performance & KPIs

15.1.3.    Product Portfolio

15.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

15.2.      UFP Technologies Inc.

15.3.      Synbra Holding bv

15.4.      UFP Technologies

15.5.      Armacell LLC

15.6.      Tosoh Corporation

15.7.      ACH Foam Technologies

15.8.      FoamCraft Packaging Inc

15.9.      Hanwha Corporation

15.10.   Plastifoam Company

15.11.   Marko Foam Products Inc.

15.12.   TotalEnergies

15.13.   NCFI Polyurethanes

15.14.   Huebach Corporation

15.15.   Wasatch Container

15.16.   Dongshing Industry Inc.

15.17.   Zotefoams Plc.

15.18.   Borealis

15.19.   Arkema

15.20.   Kaneka Corporation

15.21.   Recticel

15.22.   Sealed Air Corporation

15.23.   BASF SE

15.24.   Synthos SA

15.25.   FoamPartner Group

15.26.   Rogers Corporation

15.27.   Others**

16.   Research Methodology

16.1.      External Power Outputs / Databases

16.2.      Internal Proprietary Database

16.3.      Primary Research

16.4.      Secondary Research

16.5.      Assumptions

16.6.      Limitations

16.7.      Report FAQs

17.   Research Findings & Conclusion

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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the Global Foam Packaging market value?

Global Foam Packaging market was valued at USD 17,842.6 Million in 2022 and is estimated to reach value of 28,877.6 million by 2033.

Which are the upcoming countries within the Foam Packaging market?

China, Canada, Japan, India, Spain, Brazil, France, UAE and Italy are the fastest growing countries within the global market.

Who are the key competitors of market Players?

Amcor, Sealed Air and Pregis are the top 3 companies in the market.

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