Over the last few years packaging is becoming a critical factor in the customer’s decision making process because it directly communicates with the customer at the time of purchase in the store. Foam bags is considered to be one of the popular packaging solutions among the manufacturers of food and pharmaceutical. Light weight packaging is gaining traction among the brand owners to reduce the carriage cost of the product. Foam bags is an enormously lightweight packaging solution and perfect for caring glass wood, ceramics and painted surfaces. Foam bags are easy to use and also self-sealing strips feature can be an added advantage ultimately enhancing the packaging efficiency. Brand owners are using different color to enrich the product presentation.
Foam bags: Market Dynamics
Foam bags market is driven by the increasing growth of electronics & semi-conductor industry during the forecast period. Apart from that rapid urbanization coupled with the per capita disposable income, is also expected to further driving the growth of foam bags market. Also, mounting growth of organized retail sector is positively impacting the global foam bags market during the forecast period. Moreover, new product development of various electronic products is further propelling the growth of foam bags market throughout the forecast period. Moreover, increasing growth of pharmaceutical industry is expected to fuel the demand of foam bags market because foam bags are used extensively in the medical devices packaging.
Rising growth of automotive industry in developing economies of Asia Pacific is expected to stimulate the sales of foam bags in the upcoming decade. Moreover, foam bags are also widely used in the different cosmetic & personal care products that in turn accelerates the growth of foam bags market during the forecast period. The main property of foam bags is light weight that minimizes the shipping cost. Apart from that foam bags improves the aesthetic looks of the product through different print and foam color that enforced the manufacturers to use foam bags as a packaging solutions for promotional purposes.
As foam bags are generally made from the low density polyethylene that can pose a challenges for this market owing to the increasing adoption of environment friendly material in the packaging industry.
Foam bags Market: Key players
Some of the key players in the global foam bags market are Smurfit Kappa Group PLC, Sealed Air Corporation, Alta packaging Inc., Pregis Corporation, Essen Multipack Ltd, Universal Protective Packaging, Inc., Macfarlane Group Plc. etc.
Foam bags Market: Regional outlook
In terms of geography, the global foam bags market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia Pacific region is expected to be the most lucrative market for foam bags market. India, China and ASEAN countries are expected to be the lucrative regions in APAC for foam bags manufacturers. North America is expected to witness healthy growth during the forecast period. Europe is also expected to register moderate CAGR throughout the forecast period.
