Market Size of Packaging Foams Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
