According to latest research by FMI, foam containers is set to witness stable development of ~4.2% CAGR during 2021-2031. The current market scenario depicts a moderately consolidated market of the world.
The foam container demand is expected to grow significantly during the forecast period. Due to rising user expectance and growing demand of authentic proof, tracking of product is easy, addiction is prevented, has protected shelf life, and gives sustainability profiles.
Growing demand of new sustainable and recycled containers to reduce plastic waste. In packaging, the main concern is stability of chemical product and medication. There should not be cross contamination of product with container so for safety, thus, biodegradable material came into demand.
Environmental friendly material have very less waste product and are recyclable. This is the major factor that can make foam container in feeling disinfectant and hygiene products more sustainable in market and profitable business for manufacturers.
Foam containers has gaining attention over past few years due to high adoption of lightweight container. Lightweight container material have good acceptance rate by consumers. It is easy to deliver products to consumer due to its lightweight.
Lightweight container by resin results in less plastic usage and also meet the recent need of environmental friendly products. This act as driving force for this market.
Demand for foam containers increases around the globe due COVID-19-pandamic. Over the past few years, a significant transformation has been observed in the overall personal care products industry.
Adoption of hygiene products has increased significantly owing to growing awareness of hygiene in last few years. The demand for foam disinfectant and hand sanitizers increased multiple folds during this period to maintain hygiene. This had a positive impact on the foam container production.
US remains one of the largest markets for foam containers globally. US will hold significant markets share throughout the course of the forecast period. Due to acceptance of more innovation to improve safety, stability, consistency, and eco-friendly products by American population. So this drive demand of ecofriendly foam container in U.S and Canada.
Advance technology keep the nature of packaging stability of product during storage, shipment, and delivery. On these lines, improvement in field of packaging and adoption of such product propel the market.
Foam containers demand has gained traction in European countries in recent years due to adaption of ecofriendly product to reduce the plastic waste. Moreover stringent regulatory requirement regarding containers drive the demand of contactless ecofriendly foam container. This give boost to market in European countries.
For Instances, The EMA guideline covers the specific requirements (data to be submitted) for packaging materials intended to be in direct contact with the medicinal product or the API. The guideline has to be applied in new registration applications or variation applications
Some of the leading manufacturers and suppliers of foam containers include
Many leading manufacturers have strategic acquisition to for strengthen their position in sales.
In September 2020, Baricap latest expansions were the start of a production facility in Malaysia to grow their sales.
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