According to Future Market Insights (FMI), the polystyrene packaging market is anticipated to grow significantly between 2022 and 2032, with a CAGR of 4.4%. From US$ 23 billion in sales in 2022 to US$ 35.5 billion in 2032, sales are predicted to rise.
This is a result of its flexibility in adapting to various needs. Visibility of products, or transparency, is crucial in a variety of sectors, including the food and healthcare sectors.
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In the midst of the expanding trend of transparency and clean label, the polystyrene packaging enables product visibility that appeals to end customers. The polystyrene packing also keeps the goods fresh, extending its shelf life. This is anticipated to increase demand in the food industry.
For it is also naturally found in many food items. Expanded polystyrene is a type of polystyrene, which is environmentally friendly and is also recyclable. Manufacturers are focusing on polystyrene packaging due to various advantages like being cost-effective, and adaptive, also helps in maintaining food items fresher and it provides clarity to the product as it is transparent.
As a result, polystyrene material is used due to various properties and it also helps in reducing food-borne illnesses. Its property of maintaining food fresh has increased the demand for polystyrene packaging as it helps restaurants and online delivery services in maintaining the qualified food items and end-users could be made satisfied.
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Key Takeaways from Global Polystyrene Packaging Market
- Sales of cups segment are expected to increase 1.9x by the end of 2032 due to increasing demand for polystyrene cups in food & beverage sector.
- In terms of end-use, the food & beverage industry is expected to grow at CAGR of 5.5% between 2022 and 2032.
- South Asia and East Asia are estimated as lucrative markets for polystyrene packaging
- India is expected to dominate the South Asia polystyrene market on the back of expansion of pharmaceutical industry.
“Polystyrene, from which EPS foam is made have properties like compressive strength, tensile strength, and thermal insulation. This is expected to gain traction in a multitude of industries, including food & beverage and pharmaceutical in the upcoming decade.” – Comments FMI analyst
Increased Demand from Pharmaceutical Industry to Boost Polystyrene Packaging Market
As per FMI, healthcare and pharma both are revenue-generating industries. Polystyrene is a material with properties of stability, versatility and insulation used for packaging healthcare-related materials. In the pharmaceutical industry, reliability and freshness are important and polystyrene helps in maintaining them.
Polystyrene also helps in preventing contamination, which is very important for the pharma industry. Hence, the increased demand for pharma materials is driving the polystyrene packaging market and the trend is likely to continue over the next decade.
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Global Polystyrene Packaging Market Landscape
ACH Foam Technologies, Alpek SAB de CV, Jackon, Monotez, Sunpor Kunststoff, Styrochem, Versalis, Sonoco Products Company, Sealed Air Corp, Huhtamaki Oyj, Rogers Foam, NEFAB GROUP, Huebach Corporation, and Ohishi Sangyo Co.,Ltd.
Global Polystyrene Packaging Market by Category
By Material, Global Polystyrene Packaging Market is Segmented as:
- Foam
- Plastic
By Product, Global Polystyrene Packaging Market is Segmented as:
- Bowls
- Cups
- Bags
- Pouches
- Wraps & Films
- Boxes & Clamshell
- Plates & Trays
By End Use Industry, Global Polystyrene Packaging Market is Segmented as:
- Food & beverage
- Pharmaceutical
- Electrical & Electronics
- Cosmetics & Personal Care
- Automotive
- Aerospace
- Consumer Goods
By Region, Global Polystyrene Packaging Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
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