The global foam protective packaging market will expand at a sluggish CAGR of 3.7%, bringing in just over US$ 5.3 Bn in global revenues by the end of 2027.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
The global foam protective packaging market is projected to gain high amount of revenues in forecast period. One of the key factors supporting this projection is growing need to prevent physical damages to packaged goods during shipping. Foam protective packaging offers protection to packaged goods and eliminates the possibility of damage during transportation.
One of the key factors pushing the global foam protective packaging market is increased consumer spending on packaged goods. Besides, increased production of various products from global manufacturing sector is poised to support the market growth. In recent times, vendors engaged in the global foam protective packaging market have increased their efforts to incorporate advanced technologies in their manufacturing processes. This move is helping them to offer customized products as per the need of end-users. As a result, the foam protective packaging market will see profound growth during forecast period.
Rising demand from various industries is projected to fuel the global foam protective packaging market. Some of the key end-user industries are pharmaceuticals, medical devices, electronics, appliances, and consumer product manufacturing. Besides, E-commerce is one of the important industries anticipated to push the demand during upcoming period.
However, there are some factors hindering the foam protective packaging market growth. One of them is stringent industrial regulations by governments of many counties. All these regulations are focused on prohibiting the use of foam materials while packaging the products.
Key companies partaking in the expansion of the global foam protective packaging market have been profiled in the report. The study observes Sonoco Products Company, Plastifoam Company, Pregis Corporation, Sealed Air Corporation, DRB Packaging, Volk Packaging Corporation, Wisconsin Foam Products, Rogers Foam Corporation, Tucson Container Corporation, and Armstrong Brands, Inc. as leaders in the global foam protective packaging market for the forecast period.
End Use Industry
Pharmaceutical & Medical Devices
Electronics and Appliances
Automotive and Auto Components
Consumer Product Manufacturing
Other Industrial Goods
Blocking and Bracing