The polystyrene packaging market is expected to expand significantly between 2022 and 2032, with a CAGR of 4.4%, predicts Future Market Insights (FMI). Sales are anticipated to increase, rising from US$ 23 billion in 2022 to US$ 35.5 billion in 2032.
This is a result of its adaptability to different needs. Transparency, or the ability to see what items are being sold, is important in many industries, including the food and healthcare sectors.
In the midst of the expanding trend of transparency and clean label, the customers are drawn to products that are visible thanks to polystyrene packing. The goods are kept fresh and have a longer shelf life thanks to the polystyrene packaging. The need for food is expected to rise as a result.
Since it is naturally present in many foods. One kind of polystyrene that is both recyclable and favourable to the environment is expanded polystyrene. Due to its many benefits, including its affordability, adaptability, ability to keep food items fresher, and transparency, manufacturers are concentrating on polystyrene packaging.
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As a result, polystyrene material is used due to various properties and it also helps in reducing food-borne illnesses. Its property of maintaining food fresh has increased the demand for polystyrene packaging as it helps restaurants and online delivery services in maintaining the qualified food items and end-users could be made satisfied.
Key Takeaways from Global Polystyrene Packaging Market
- Sales of cups segment are expected to increase 1.9x by the end of 2032 due to increasing demand for polystyrene cups in food & beverage sector.
- In terms of end-use, the food & beverage industry is expected to grow at CAGR of 5.5% between 2022 and 2032.
- South Asia and East Asia are estimated as lucrative markets for polystyrene packaging
- India is expected to dominate the South Asia polystyrene market on the back of expansion of pharmaceutical industry.
“Polystyrene, from which EPS foam is made have properties like compressive strength, tensile strength, and thermal insulation. This is expected to gain traction in a multitude of industries, including food & beverage and pharmaceutical in the upcoming decade.” – Comments FMI analyst
Increased Demand from Pharmaceutical Industry to Boost Polystyrene Packaging Market
As per FMI, healthcare and pharma both are revenue-generating industries. Polystyrene is a material with properties of stability, versatility and insulation used for packaging healthcare-related materials. In the pharmaceutical industry, reliability and freshness are important and polystyrene helps in maintaining them.
Polystyrene also helps in preventing contamination, which is very important for the pharma industry. Hence, the increased demand for pharma materials is driving the polystyrene packaging market and the trend is likely to continue over the next decade.
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Global Polystyrene Packaging Market Landscape
ACH Foam Technologies, Alpek SAB de CV, Jackon, Monotez, Sunpor Kunststoff, Styrochem, Versalis, Sonoco Products Company, Sealed Air Corp, Huhtamaki Oyj, Rogers Foam, NEFAB GROUP, Huebach Corporation, and Ohishi Sangyo Co.,Ltd.
Global Polystyrene Packaging Market by Category
By Material, Global Polystyrene Packaging Market is Segmented as:
- Foam
- Plastic
By Product, Global Polystyrene Packaging Market is Segmented as:
- Bowls
- Cups
- Bags
- Pouches
- Wraps & Films
- Boxes & Clamshell
- Plates & Trays
By End Use Industry, Global Polystyrene Packaging Market is Segmented as:
- Food & beverage
- Pharmaceutical
- Electrical & Electronics
- Cosmetics & Personal Care
- Automotive
- Aerospace
- Consumer Goods
By Region, Global Polystyrene Packaging Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
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