Foam Packaging Market Size and Global Companies Growth Rate
The global foam packaging market was valued at USD 18.32 billion in 2023 and is projected to reach USD 32.50 billion by 2034, registering a CAGR of 5.35% from 2024 to 2034. The market growth is attributed to the increase in the popularity of online shopping and rapid technological advancements.
Latest Announcement by Leaders
- In August 2024, Terry Moody, the CEO of Altor Solutions announced that a subsidiary of Compass Diversified, Altor Solutions is entering into an agreement to acquire Lifoam Industries LLC (“Lifoam”), a leading distributor and manufacturer of temperature-controlled shipping solutions. To enhance their industrial and cold-chain packaging solutions, this strategic acquisition marks a pivotal step in advancing Altor’s long-term strategy.
Foam Packaging Market Player
- Sealed Air Corporation
- Sonoco Products Company
- BASF SE (Germany)
- Dart Container Corporation
- Pactiv LLC
- WinCup
- Genpak
- Zotefoams Plc (U.K.)
- Arkema (France)
- Kaneka Corporation (Japan)
- Rogers Corporation (U.S.)
- Synthos SA (Poland)
- Armacell (Germany)
- JSP (Japan)
- Foampartner Group (Switzerland)
- Pregis LLC
Recent Developments
- In November 2024, a biodegradable foam was developed by researchers from the Indian Institute of Science (IISC) that could transform the packaging industry, while addressing critical environmental concerns.
- In May 2024, Specialized Packaging Group (SPG) announced the acquisition of Illinois-based Clark Foam Corporation, in a move solidifying its position within the North American protective packaging industry.
