Biofoam Packaging Market: Overview

The drive for environmental awareness has gravitated industries and their consumer base to prefer biodegradable ingredients in products. This is also true of packaging, and packaging being a rapidly growing horizontal has stirred the prospects of biofoam packaging. Strikingly, they have high biodegradability - that is, they degrade much faster than their synthetic counterparts - and the freedom to fabricators to use them through various processing methods are key advantages that drive the evolution of the biofoam packaging market.

A conscious drive from oil-based plastics to packaging that are not based on fossil fuels has spurred the use of biofoams in packaging. Biofoam are usually made of completely renewable materials, mainly consisting of vegetable oils and fats, corn starch, and sugarcane. Usually, the materials used for the biofoam packaging consists of industrial starch and cellulose fibers. The key application areas in the biofoam packaging market may comprise white goods products, furniture, food & beverage boxes, crockery, healthcare instruments, and automotive parts.

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Biofoam Packaging Market: Competitive Analysis and Key Developments

Manufacturers are coming out with new array of biofoam materials. They are in essence in the biofoam packaging market looking for better biodegradability, compost-ability, and recyclability. Researchers in developed world are relentlessly focused on testing new materials that can be processed economically to make biofoam packaging. This will enable globally prominent players to expand their footprints in cost-sensitive markets. The drive for reducing the overall carbon footprint of the packaging industry in less developed nations has stimulated their efforts in this direction in recent years. Further, they are looking for plant oil-based polymers.

For prominent players, constant product launches have been at the forefront of their agenda. Several of them are leaning on extensive research and development activities to expand their product portfolio. On such company is BEWiSynbra who is on the mission to produce CO2 neutral cellular foams.

Some of the top players in the biofoam packaging market are Sealed Air Corporation, BASF SE, Woodbridge Foam, Recticel SA, Hwa Ching Industry, Eco-Global Manufacturing, and Synbra Technology BV. Key players are intensively exploring untapped markets, such as in Asia Pacific.

Biofoam Packaging Market: Key Trends

The drive for adopting CO2 neutral packaging in various end-use industries is a key driver for opportunities in the biofoam packaging market. Strides made in composites has caused the array of materials to expand in the market. Advent of plant oil-based and natural filler composites has expanded the avenue for manufacturers in the biofoam packaging market. Over the years, they have investigated the economic viability of various materials that hold potential as biofoams.

The growing preference of biofoams over polystyrene in the packaging of fragile items is boosting the prospects of the biofoam packaging market. Advances in engineering bioplastics are also expanding the avenues for packaging companies around the world. Proliferating demand for fragile items in e-commerce channel is also spurring the uptake of products from the biofoam packaging market.

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Biofoam Packaging Market: Regional Assessment

Some of the regional markets are North America, Latin America, Europe, East Asia, South Asia, the Middle East and Africa (MEA). Of these, North America and Europe have been substantially lucrative in the global biofoam packaging market. This is due to heightened awareness of consumers about the ecological footprint that packaging has made in recent years.

Asia Pacific is a rapidly expanding regional market, where the growth has been fuelled by increasing array of plant-based materials that can be used in flexible and rigid packaging. In addition, emerging economies are witnessing extensive research on material composites that have high recyclability and biodegradability. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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