Packaging Foam Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Packaging Foams Market Trends & Growth and it is Segmented by Material (Polystyrene, Polyurethane, Polyolefin, and Other Materials), Structure (Flexible and Rigid), Application (Food Packaging and Industrial Packaging), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The market size and forecasts for the Packaging Foam Market are provided in terms of Revenue (USD million) for all the above segments.

Packaging Foam Market Size

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Packaging Foams Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 11.67 Billion
Market Size (2029) USD 14.68 Billion
CAGR (2024 - 2029) 4.68 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Packaging Foams Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Packaging Foam Market Analysis

The Packaging Foams Market size is estimated at USD 11.67 billion in 2024, and is expected to reach USD 14.68 billion by 2029, growing at a CAGR of 4.68% during the forecast period (2024-2029).

COVID-19 had a negative impact on the global economy in 2020. It affected several industrial sectors such as the packaging sector by hindering their supply chain. The lockdown and shutdown have changed the behavior of retail business shuttered, international supply chains, and purchase significantly across various sectors. However, the industry witnessed a recovery, with the growing demand for convenience as consumers are increasingly ordering groceries and other food products online owing to increased online shopping and transportation activities after the lifting of restrictions in the second half of 2021.

  • Over the short term, the rising demand from the industrial packaging industries is a major factor driving the growth of the market studied.
  • However, the availability of molded pulp as a green alternative is a key factor anticipated to restrain the growth of the target industry over the forecast period.
  • Nevertheless, the growing quest for eco-friendly packaging foam is likely to create lucrative growth opportunities for the global market soon.
  • Asia-Pacific is expected to dominate the global packaging foams market, and it is also estimated to be the fastest-growing market over the forecast period due to the increasing market applications in countries such as China and India.

Packaging Foam Market Trends

This section covers the major market trends shaping the Packaging Foams Market according to our research experts:

Increasing Demand from the Industrial Packaging Sector

  • Packaging foam is commonly used as a cushioning material for boxes, and this packaging solution is known for its versatility and ability to be customized.
  • Foams are used in a wide variety of packaging applications and industries including industrial goods, consumer electronics, automotive, and other applications where optimum protection and durability are overriding considerations.
  • Automotive spares are difficult to handle, and some parts necessitate extra caution during storage and transportation. This is due to the intricate nature of some parts, particularly those in the interior and engine.
  • The global automotive industry registered huge growth in the studied period. According to OICA, the total number of vehicles produced in 2021 was 80,145,988 and witnessed a growth rate of 3% compared to 2020. The Asia-Pacific region holds the highest production share in the global automotive market with 46,732,785 units in 2021.
  • According to the Census Bureau, United States retail e-commerce sales amounted to USD 265.9 billion, an increase of 3.0 percent (±0.5%) from the second quarter of 2022.
  • The European e-commerce industry was valued at EUR 7718 billion (USD 7,902.32 billion) at the end of 2021, registering an increase of 13 % as compared to the situation last year. The major contribution in the region comes from Northern Europe, which accounts for 86% of the total e-commerce value.
  • Moreover, Military foam packaging necessitates a higher level of attention to detail than commercial packaging. Because of the sensitive contents, a huge proportion of military cargo requires careful packing and handling. Military equipment is frequently moved around the world, which necessitates the use of high-quality defense foam packaging to ensure safe shipping.
  • Thus, the growth in transportation and e-commerce industries has led to the exponential growth of the packaging sector, also taking support from the rising awareness and use of green packaging. Therefore, these trends are expected to have a potentially positive impact on the packaging foam market in the forecast years.
Packaging Foams Market : Motor vehicle production, in units, Global, 2017-2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific dominated the global packaging foams market primarily due to the growing demand for packaging in logistics, the growing industrial and automotive manufacturing and other manufacturing operations.
  • China is one of the major contributors to the packaging foams markets globally, especially in Asia-Pacific. The growing food and beverages, automotive, electronics, personal care, and pharmaceutical industry are expected to boost the growth of the market.
  • China has one of the largest food industries in the world. As per the National Bureau of Statistics of China, in 2021, the food industry in China generated a total profit of about CNY 618.7 billion (USD 86.33 billion). The food manufacturing industry contributed approximately CNY 165.4 billion (USD 23.08 billion) to the total profits.
  • As per METI (Japan), the total production value of the electronics industry in Japan is around JPY 10.95 trillion (USD 80 billion) in 2021, which is 110% of the production value compared to the last year. Furthermore, the total electronics exports in 2021 amount to JPY 10.82 trillion (USD 79 billion) with JPY 1.04 trillion (USD 7.6 billion) in December 2021 alone, thus providing huge demand for packaging foams in the region.
  • The South Korean e-commerce market stands at over USD 92 billion per annum. A wave of building and investment has been drawing significant interest and capital from international investors, including GIC, APG, Angelo Gordon, Warburg Pincus, and Blackstone. South Korea is also the 4th-largest third-party logistics (3PL) market in Asia-Pacific and is growing at an annual rate of nearly 8%, faster than Japan, Australia, and Singapore.
  • Hence, owing to the rapidly growing packaging industry in the Asia-Pacific region, the demand for packaging foams is also expected to increase rapidly over the forecast period.
Packaging Foams Market- Growth Rate by Region, 2022-2027

Packaging Foam Industry Overview

The packaging foams market is partially fragmented in nature. The major companies include (not in any particular order) Borealis AG, Sealed AIR, Armacell, TotalEnergies, and Recticel NV/SA.

Packaging Foam Market Leaders

  1. Armacell LLC

  2. Borealis AG

  3. Sealed Air

  4. Recticel NV/SA

  5. TotalEnergies

*Disclaimer: Major Players sorted in no particular order

Packaging Foams Market  Concentration
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Packaging Foam Market News

  • In March 2021, Recticel announced that it successfully acquired FoamPartner, the Swiss-based global provider of high-added-value technical foams. Recticel Flexible Foams and FoamPartner are merged to form the Recticel Engineered Foams business line. The new organization will leverage numerous synergies in resources and talents to promote excellence, grow its global presence, and accelerate the commercialization of sustainable innovations and leading-edge solutions to global markets.
  • In February 2021, Zoatfoams announced the virtual opening of its new plant in brzeg, Poland with a designed capacity of 13,000-meter square, the new plant adds 50,000-meter cubes of annual foam production to the company increasing its global capacity and optimizing its service level for its customers in Europe.

Packaging Foam Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Rising Demand from the Packaging Industry

    2. 4.2 Restraints

      1. 4.2.1 Molded Pulp as a Green Alternative

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Material

      1. 5.1.1 Polystyrene

      2. 5.1.2 Polyurethane

      3. 5.1.3 Polyolefin

      4. 5.1.4 Other Materials

    2. 5.2 Structure

      1. 5.2.1 Flexible

      2. 5.2.2 Rigid

    3. 5.3 Application

      1. 5.3.1 Food Packaging

      2. 5.3.2 Industrial Packaging

        1. Transportation

        2. Electrical and Electronics

        3. Personal Care

        4. Pharmaceutical

        5. Other Industrial Packaging

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.4.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.4.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Armacell

      2. 6.4.2 Atlas Roofing Corporation

      3. 6.4.3 Borealis AG

      4. 6.4.4 Drew Foam

      5. 6.4.5 Foamcraft Inc.

      6. 6.4.6 TotalEnergies

      7. 6.4.7 Huntington Solutions

      8. 6.4.8 Recticel

      9. 6.4.9 Sealed Air

      10. 6.4.10 Williams Foam

      11. 6.4.11 Zotefoams PLC

    5. *List Not Exhaustive

    1. 7.1 Growing Quest for Eco-friendly Packaging Foam

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Packaging Foam Industry Segmentation

Packaging foam is commonly used as cushioning material for boxes, and this packaging solution is known for its versatility and its ability to be customized. The packaging foam market is segmented by material, structure, application, and geography. By material, the market is segmented into polystyrene, polyurethane, polyolefin, and other materials. By structure, the market is segmented into flexible and rigid. By application, the market is segmented into food packaging and industrial packaging. The report also covers the market size and forecasts for the packaging foam market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Other Materials
Food Packaging
Industrial Packaging
Electrical and Electronics
Personal Care
Other Industrial Packaging
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Packaging Foam Market Research FAQs

The Packaging Foams Market size is expected to reach USD 11.67 billion in 2024 and grow at a CAGR of 4.68% to reach USD 14.68 billion by 2029.

In 2024, the Packaging Foams Market size is expected to reach USD 11.67 billion.

Armacell LLC, Borealis AG , Sealed Air , Recticel NV/SA and TotalEnergies are the major companies operating in the Packaging Foams Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Packaging Foams Market.

In 2023, the Packaging Foams Market size was estimated at USD 11.15 billion. The report covers the Packaging Foams Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Packaging Foams Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Packaging Foam Industry Report

Statistics for the 2024 Packaging Foam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Packaging Foam analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Packaging Foam Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)