Global Biofoam packaging Market, By Product (Rigid Packaging, Flexible Packaging), Material (Vegetable Oil and Fat, Corn Starch, Sugarcane, Others), Application (Electronic Product, Crockery, White Good Products, Delicate Items, Food and Beverage Boxes, Medical Equipment, Furniture, Other) – Industry Trends and Forecast to 2029
Market Analysis and Size
Biofoams comprises starches and biopolyesters because these are adequate replacements to expanded polystyrene. Polylactic acids (PLAs) compounds are a common type of the basis of these biofoams since they provide an alternative for polyolefin-based foams which are normally used in pharmaceutical products, white goods products, furniture, food & beverage boxes, crockery, automotive parts and short life-time disposable packaging industries because of their biodegradable and bio-based properties.
Data Bridge Market Research analyses that the biofoam packaging market was valued at USD XX billion in 2021 and is expected to reach USD XX billion by 2029, registering a CAGR of XX% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Rigid Packaging, Flexible Packaging), Material (Vegetable Oil and Fat, Corn Starch, Sugarcane, Others), Application (Electronic Product, Crockery, White Good Products, Delicate Items, Food and Beverage Boxes, Medical Equipment, Furniture, Other)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa
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Market Players Covered
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BEWi (Norway), Recticel Insulation (U.K.), Chevron Phillips Chemical Company LLC. (U.S.), Eco-Global Manufacturing (U.S.), Sealed Air (U.S.), HWA CHING INDUSTRY (China), BASF SE (Germany), Bayer Material Science (U.S.), Dow (U.S.), Huntsman International L.l..C (U.S.), Rogers Corporation (U.S.), Ube corporation (Japan), Recticel (Belgium), Zotefoams Plc (U.K.), The Woodbridge (Canada), Sekisui Alveo (Switzerland), Indoac corporation (Japan), covestro AG (Germany)
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Market Opportunities
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Market Definition
Biofoam are commonly made up of completely renewable materials. Biofoam mainly containing of corn starch, vegetable oils and fats, and sugarcane. Generally, The materials used for the biofoam packaging consist of industrial cellulose fibers and starch. These materials are completely biodegradable.
Biofoam Packaging Market Dynamics
Drivers
- Rapidly rising e-commerce industry
Rising e-commerce industry are expected to drive the bio foam packaging demand from past some years as it used for the packaging of automotive, electronics and other products. This huge growth in the e-commerce market will probably upsurge the biofoam packaging market over the forecast period.
- Rising demand for corn starch base biofoam
Foams are derived from mostly frothy and bulky gasoline, causing complications in the waste collection and transport for reprocessing. So increase the demand of bio based foam Corn starch is the bio based material which is highly used to produce biofoam and is expected to drive the biofoam packaging market in terms of raw material.
- Growing demand in automative industry
The global market for biofoam is being rising in demand because of increasing the manufacturing of automobiles in the automotive industry. Biofoams are used to upsurge comfort, efficiency of vehicles, protection and energy and also biodegradable in nature due to which increase the demand in automotive sector which are expected to increase the demand of biofoam for packaging in the market
Opportunities
- Adoption of sustainable and eco-friendly solutions
The rising demand for adopting CO2 neutral packaging in several end-user industries is a major driver for creating opportunities in the biofoam packaging market. Arrival of natural filler composites and plant oil-based has extended the avenue for the manufacturers in the biofoam packaging market.
Also, biofoam packaging market are technically evolving and they are adapting for better recyclability, biodegradability and compost ability. As the market is going cost researchers so the manufacturers are trying for searching alternatives in biofoam packaging.
Restraints/ Challenges
However, the fluctuating price of raw material will act as a major restraint for the market. Changes in the demand and supply of these bio-based raw materials could significantly impact the biofoam packaging market. Moreover, the supply disruption has adversely affected the biofoams market which in turn has augmented the cost of biofoam packaging, these are the major market restrains which will hamper the market's growth rate.
This biofoam packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the biofoam packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Biofoam Packaging Market
COVID-19 negatively impacted the biofoam packaging market as the demand from the furniture, construction and automotive industry dropped significantly. Due to the lockdown regulations which has imposed by government was hindered the construction industry and resulted in decrease the demand for furniture in offices and houses. On other hand COVID-19 pandemic create an excellent opportunity to the packaging industry and pharmaceutical industry due to the raise awareness about safe packaged products and widespread of virus and infections. This will be driven by numerous factors such as, domestic demand, demand for safe consumer goods and others.
Global Biofoam Packaging Market Scope
The biofoam packaging market is segmented on the basis of products, material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Rigid Packaging
- Flexible Packaging
Material
- Vegetable Oil and Fat
- Corn Starch
- Sugarcane
- Others
Application
- Electronic Product
- Crockery
- White Good Products
- Delicate Items
- Food and Beverage Boxes
- Medical Equipment
- Furniture
- Other
Biofoam Packaging Market Regional Analysis/Insights
The biofoam packaging market is analysed and market size insights and trends are provided by country, products, material and application as referenced above.
The countries covered in the biofoam packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
Asia-Pacific leads the biofoam packaging market in terms of market share during the forecast period. This is due to the increasing demand for biofoam packaging in this region. The Asia-Pacific region leads the biofoam packaging market due to the lucrative and healthy growth in e-commerce in this region.
During the estimated period, North America is likely to be the fastest developing region due to the early adopter of the bio foam packaging in the market.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Biofoam Packaging Market Share Analysis
The biofoam packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biofoam packaging market.
Some of the major players operating in the biofoam packaging market are:
- BEWi (Norway)
- Recticel Insulation (U.K.)
- Chevron Phillips Chemical Company LLC. (U.S.)
- Eco-Global Manufacturing (U.S.)
- Sealed Air (U.S.)
- HWA CHING INDUSTRY (China)
- BASF SE (Germany)
- Bayer Material Science (U.S.)
- Dow (U.S.)
- Huntsman International L.L.C (U.S.)
- Rogers Corporation (U.S.)
- Ube corporation (Japan)
- Recticel (Belgium)
- Zotefoams Plc (U.K.)
- The Woodbridge (Canada)
- Sekisui Alveo (Switzerland)
- Indoac corporation (Japan)
- covestro AG (Germany)
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