Packaging Foams Market
The global packaging foams market is estimated to be valued at USD 14.96 Bn in 2024 and is expected to reach USD 23.34 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031. The global packaging foams market has been witnessing significant growth in recent years. Packaging foams find wide applications across various end-use industries such as consumer goods, food and beverages, and pharmaceuticals among others. Foams play a crucial role in protecting products from damage during transportation and storage. Rising e-commerce activities coupled with growing demand for sustainable packaging solutions has been driving the demand for packaging foams. Additionally, growing prominence of flexible packaging over rigid packaging on account of properties, such as lightweight and cost-effectiveness, is augmenting market growth. However, volatility in raw material prices remains a key challenge for market players.
Market Dynamics
The global packaging foams market growth is driven by the growing demand from industries such as consumer goods and food and beverages. Rising e-commerce sales especially during the COVID-19 pandemic has surged the usage of packaging foams for product protection during shipments. Foams serve as efficient cushioning material to prevent the breakage of items. Moreover, packaging foams offer advantages such as durability, lightweight, and effective moisture barriers over alternative materials. However, fluctuations in raw material prices pose a major challenge. Price volatility of propylene and crude oil impacts production costs. Additionally, growing preference for sustainable packaging solutions presents an opportunity for biodegradable packaging foam manufacturers. Adoption of bio-based and recycled polymers as raw materials can help reduce the environmental footprint.
Key Features of the Study
- This report provides in-depth analysis of the global packaging foams market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global packaging foams market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Sealed Air Corporation, BASF SE, Dow Inc., Huntsman Corporation, Rogers Corporation, Pregis Corporation, DOW Chemical Company, Foampak, Inc., ACH Foam Technologies, Inc., ULINE, Inc., Sonoco Products Company, Styrofoam (a subsidiary of Dow), IntegraPack, and Knauf Industries
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global packaging foams market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global packaging foams market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Packaging Foams Market' - Global forecast to 2031
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