Packaging Foams Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The packaging foams market is expected to reach USD 10,600 million by the end of this year and is projected to register a CAGR of over 4.5% during the forecast period.
COVID-19 had a negative impact on the global economy in 2020. It affected several industrial sectors such as the packaging sector by hindering their supply chain. The lockdown and shutdown have changed the behavior of retail business shuttered, international supply chains, and purchase significantly across various sectors. However, the industry witnessed a recovery, with the growing demand for convenience as consumers are increasingly ordering groceries and other food products online owing to increased online shopping and transportation activities after the lifting of restrictions in the second half of 2021.
Key HighlightsThe packaging foams market is partially fragmented in nature. The major companies include (not in any particular order) Borealis AG, Sealed AIR, Armacell, TotalEnergies, and Recticel NV/SA.
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