According to research by Future Market Insights, the global foam packaging inserts market is poised for significant growth during the forecast period. In 2023, it is expected to reach a valuation of US$ 514.1 million and is projected to expand at a Compound Annual Growth Rate (CAGR) of 3.6%, ultimately reaching US$ 799.2 million by 2033. This growth is driven by the increasing demand for protective packaging solutions across various industries.
Polyurethane, as a material type for foam packaging inserts, is expected to maintain its position as the leading segment in this market. By the end of 2033, it is estimated to contribute approximately 35.6% to the market’s total value share. This underscores the popularity of polyurethane foam due to its excellent cushioning and protective properties, making it a preferred choice for safeguarding fragile and sensitive items during transportation.
Furthermore, with the top 3 countries anticipated to hold about 18% of the market in 2023, it’s evident that foam packaging inserts are gaining traction worldwide as a vital component of protective packaging solutions. This growth trajectory highlights the importance of efficient and reliable packaging solutions in the global supply chain.
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The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Foam Packaging Inserts
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Foam Packaging Inserts market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Foam Packaging Inserts Market Takeaways and Projections
- The U.S. is expected to lead the North America Foam Packaging Inserts market, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Foam Packaging Inserts Historical Market Analysis: The detailed survey by FMI, examines key factors in the Foam Packaging Inserts market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Foam Packaging Inserts market for the forecast period 2023-2033.
- Foam Packaging Inserts Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Foam Packaging Inserts for the assessment period. As per the study, the demand for Foam Packaging Inserts will grow at a robust CAGR between 2023 and 2033.
- Foam Packaging Inserts Market Trend Analysis: The latest study by FMI on the Foam Packaging Inserts market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Foam Packaging Inserts market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Foam Packaging Inserts Market by Category
By Material, Foam Packaging Inserts Market is segmented as:
- Polystyrene
- Polyethylene
- Polyurethane
- Polyvinyl chloride (PVC)
By Product Type, Foam Packaging Inserts Market is segmented as:
- Rolls
- Sheets
- End Caps
By End Use, Foam Packaging Inserts Market is segmented as:
- Food & beverages
- Electrical & Electronics
- Automotive & Allied Industries
- Healthcare
- Cosmetics & Personal Care
- Consumer Goods
By Region, Foam Packaging Inserts Market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan Countries
- Baltic Countries
- Middle East & Africa (MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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