As per the research conducted by Future Market Insights, during the forecast period, the global foam packaging inserts market is expected to account for US$ 514.1 million in 2023, and is going to further expand at a CAGR of 3.6% to reached valuation of US$ 799.2 million by the year 2033. The sales of the foam packaging insert market are anticipated to bolster with the top 3 countries projected to hold around 18% of the market in 2023.
Polyurethane by material type foam segment is expected to remain the leading segment for the global foam packaging inserts market. The same segment is estimated to account for around 35.6% of the market value share by the end of 2033.
|
Market Size 2023 |
US$ 514.1 million |
|
Market Size 2033 |
US$ 799.2 million |
|
Value CAGR (2023 to 2033) |
3.6% |
|
Collective Value Share: Top 5 Companies (2022A) |
15 to 20% |
Foam packaging inserts market totalled US$ 485.1 Million in 2022 and is estimated to be worth US$ 799.1 Million by the end of the next ten years, expanding with a CAGR of 3.6% during 2023 to 2033. The sales of foam packaging inserts will boost with the top 3 countries projected to hold 22% of the global foam packaging inserts market by the end of 2022.
The foam packaging inserts market is estimated to experience a positive growth outlook by the end of 2022. A new forecast by FMI estimates that foam packaging inserts sales will rise during the forecast period and is projected to create a growth incremental growth opportunity of US$ 314.0 Million.
The increase in demand for protection of product solutions in food & beverage and automotive end use industries is the major factor propelling the demand for foam packaging insert across the globe. The foam packaging inserts market is projected to grow 1.6x the current market value during 2023 to 2033.
The South Asia and East Asia regions are anticipated to generate heavy demand for foam packaging inserts due to the easy availability of raw material in these regions along with increasing demand of foam packaging solution.
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The market of foam packaging is estimated to rise with the growing protective packaging market. The overall market for foam packaging inserts is projected to grow in the electrical & electronics industry growth, for the duration of the estimated period. Foam packaging inserts are widely used in electrical & electronics, and automotive & allied industries for the protective packaging of brittle product. The production of foam packaging inserts cost-effectively supports short-run customization and reduces packaging undesirability, which drives the sales of foam packaging inserts in the global market. Overall, increased customization usage among end-use sectors boosts sales of foam packaging inserts. The future growth outlook for the foam packaging inserts market is estimated to bolster at a faster pace during the forecast period.
Foam inserts ensure damage-free transportation of fragile products from one place to another during the process of shipping. Slowly, as consumers became more aware of and interested in the product's packaging, brand owners began to use customized & printed packaging, including custom packaging solutions. This draws the consumer's attention and distinguishes the product from competitive products. The appealing structure and style of the foam packaging inserts help to establish the brand image of the product, supporting the market expansion of foam packaging inserts across a range of end-use sectors.
Foam packaging inserts give so many benefits for the product packed into the inserts as foam packaging insert packaging provides fantastic protection to the product, and also stops damage to the product during transportation time. Therefore, electrical and electronic product manufacturers prefer foam packaging inserts, and it is used in various types of end-use industries.
Foam packaging inserts are cost-effective as well as lightweight packaging solutions. In addition, foam insert packaging can be customized as per the requirement of the end users. Many key electronics and electrical manufacturers are trying to offer attractive and customized packaging solutions which are eye-catching. Electronic and electrical product manufacturers are adopting customized packaging solutions, as they are the best suitable packaging solution for premium quality products. Retailers also benefit from using customized foam packaging inserts for electrical and electronic packaging, as they are appealing to the consumer, which increases the sales of the electrical and electronic product.
Principal Consultant
Polyurethane material is appraised to hold a major portion of the global foam packaging inserts market and is expected to grow at the highest CAGR of 3.9% in the estimated period. The reason polyurethane foam holds a major portion of foam packaging inserts markets, polyurethane material acts as a barrier to air and moisture and is also low in cost as compared to other materials used for making foam packaging inserts. As a result, food & beverage, automotive, electrical & electronics, etc., industries prefer polyurethane as a raw material for manufacturing foam packaging inserts.
The global market for foam packaging inserts has demonstrated a significant growth opportunity in the electrical and electronics sector. The target segment is projected to grow 1.6 times the current market value during 2022–2032. The increased consumer demand for protective packaging gives better protection to the product which has a significant impact on the target market. Consumer awareness and marketing were some applications for the protection of electrical and electronic products. Consequently, the electrical and electronic segment is generating high demand for the foam packaging inserts market.
India is expected to account for around 34% of Asia’s foam packaging inserts market by the end of 2022. The rising consumer preference towards quality and customized packaging for various products due to high purchasing power boosts the demand for the foam packaging insert market. According to the data provided by the Reserve Bank of India, In terms of purchasing power parity (PPP), India is the third largest economy in the world, with a share of 7% of global GDP after China's 18% and the US's 16%. This is estimated to bolster the demand for the foam packaging insert market in India.
The expanding electrical & electronic industry in Germany is projected to create an incremental opportunity during 2022–32 for the global foam packaging inserts market. The Germany foam packaging inserts market is anticipated to register a CAGR of XX% during 2022–2032. According to the Germany Trade and Invest, Germany's electronics sector is responsible for ten percent of domestic industrial output, three percent of GDP, and 23 percent of total country research & development spending. Majorly the use of foam packaging inserts is used to pack electronic products for the protection of the product as well as for eye-catching & attention-grabbing retail display. This is anticipated to stimulate the demand for the foam packaging inserts market in Germany.
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The major players are focused on increasing sales and revenues through the continuous development of innovative items and expanding their production to meet demand from customers. The key players are adopting an acquisition strategy to expand their presence and resources. Some of the key developments are as follows-
| Attribute | Details |
| Growth Rate | CAGR of 3.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2013 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segment Covered | Material, Product Type, End Use, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan Countries; Baltic Countries; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Williams Foam; UFP Technologies; Polyformes Foam Solutions; Zotefoams plc.; Barco Sales & Manufacturing; Synergy Packaging Solutions; Victory Foam; Engineered Components & Packaging; American Foam Products Inc.; All Foam Products Co., Inc.; DRB Packaging; Zouch Converters; Golden West Packaging Group; KEWELL CONVERTERS LTD; Orlando Products Inc.; Index Packaging, Inc.; Deluxe Packaging; Larson Packaging Company; Foam Factory Inc. |
| Customization | Available Upon Request |
In 2022, the value of the global foam packaging inserts market was US$ 485.1 million.
During the forecast period, the global foam packaging inserts market is anticipated to expand at a CAGR of 3.6%.
The global foam packaging inserts market is expected to reach US$ 799.1 million by the end of 2033.
Polyurethane material acts as a barrier to air and moisture and is also low in cost as compared to other materials; consequently, polyurethane material is leading in the global foam packaging market.
The increase in demand for protection of product solutions in food & beverage and automotive end use industries is the major factor propelling the demand for foam packaging insert across the globe.
Williams Foam, UFP Technologies, Polyformes Foam Solutions, Zotefoams plc., Barco Sales & Manufacturing, Synergy Packaging Solutions, Victory Foam, Engineered Components & Packaging, American Foam Products etc., All Foam Products Co., Inc., DRB Packaging, Zouch Converters, Golden West Packaging Group, KEWELL CONVERTERS LTD, H. Loeb Corporation, Orlando Products Inc., Index Packaging, Inc., Deluxe Packaging, Larson packaging Company, Foam Factory Inc. are some of the key players supplementing the
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