Global Packaging Foam Market: Overview
In the forecast period of 2019-2027, the Compound Annual Growth Rate (CAGR) for the global packaging foam market would be steady. This would translate to plenty of growth opportunities, ready to be tapped by market players.
Then, there is also a rise in demand from food and e-commerce segments for packaging foam. As people see rising incomes, they don’t just order goods from their own countries but also abroad. And, as this demand increases, better logistics and packaging becomes imperative, propelling growth in packaging foam market.
Global Packaging Foam Market: Competitive Landscape
The global packaging foam market is rife with developments that are not just crucial for players to take note of but also to understand how the market would operate over the coming years. An in-depth dive in can be had in our upcoming report.
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The global packaging foam market is slightly fragmented and prominent players in the market include Armacell (Germany), JSP (Japan), Zotefoams Plc. (U.K.), BASF (Germany), Sealed Air Corporation (U.S.), Synthos SA (Poland), Rogers Corporation (U.S.), Kaneka Corporation (Japan), Arkema (France), Total (France), Recticel (Belgium), and Foampartner Group (Switzerland). Players are focusing on improving their products to make them suitable for a wide applicability. And, in order to stay ahead of their competitors, they resort to mergers and acuiqsitions. Also, strategic collaborations and partnerships are often witnessed.
Global Packaging Foam Market: Key Trends and Drivers
Certain factors are shaping the growth curve for Global Packaging Foam Market. They are paving the way for how market would operate over the coming years. A glimpse is shared below.
- Increase in online shopping is going to be a major factor behind growth in global packaging foam market. As more goods, due this trend, are now dependent on logistics, the packaging foam industry gets a place of prominence. It is mainly because safety of products gets more significance, as it is not just clothes that are shopped but also delicate and fragile objects, sometimes even very expensive objects like tablets, glassware and the like. It is a result of a change in lifestyle noted world over that revolves around comfort – getting what you want at the convenience of a click. Also, again this in turn is a result of hectic schedules where work days are longer and thus, need to go out for shopping sprees are not as attractive as they used to be.
- Rise in disposable incomes, combined with good economic growth, especially in developing economies is driving the market to higher growth trajectories. As industrial output increases owing to robust economic growth, so would the packaging foam market. More products equal to more packaging material required to ensure safety of products.
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Global Packaging Foam Market: Geographical Analysis
The region that will show the most tremendous growth numbers is the Asia Pacific (APAC) region. It also accounted for a major share in terms of both value and volume in the year of 2016. Thus, it does not really come as a surprise that the region is set to chart one of the highest CAGRs over the forecast period of 2019-2027. It is primarily attributable to easy access to raw materials and rise in disposable incomes in the region, owing to stellar economic growth experienced by most emerging nations in particular, creating new opportunities. There is also a notable rise in investments in the market observed in the region.
Another high growth area region will be North America, followed by Europe, owing to high levels of industrial activity and presence of prominent market players.
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
- 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.