The Global Biodegradable Foam Market Growth Accelerated By Increased Demand For Environmentally-Friendly Products

The Global Biodegradable Foam Market Growth Accelerated By Increased Demand For Environmentally-Friendly Products

Biodegradable foam is a type of packaging material that finds application in various end-use industries like food and beverages, cosmetics & personal care, and pharmaceuticals. It offers features like lightweighting, protection, insulation, and cushioning. Rising environmental concerns have increased demand for biodegradable and eco-friendly products. Biodegradable foams are being widely adopted as they decomposed naturally without contaminating the environment.

The global Biodegradable Foam Market is estimated to be valued at US$ 906.1 Mn in 2024 and is expected to exhibit a CAGR of 21% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Many countries have either banned or imposed heavy taxes on conventional plastics to reduce plastic pollution. Several states have implemented policies favoring usage of biodegradable and compostable packaging materials. This has immensely benefited the biodegradable foam market. Manufacturers are investing in developing innovative foam solutions from renewable plant-based sources like wheat straw, corn cob, sugarcane bagasse etc. which decompose quickly with certification of OK Compost or Compostable logo. Such product launches catering to regulatory push for eco-friendly alternatives will augment the biodegradable foam industry growth over the forecast period.

Segment Analysis

Biodegradable foam can be segmented into polylactic acid foam and polyhydroxyalkanoate foam. Polylactic acid foam dominates the biodegradable foam market as it is highly customizable, renewable, recyclable and compostable. Polylactic acid foam offers comfort cushioning and shock absorption along with thermoformability which makes it suitable for packaging fragile goods.

Key Takeaways

The Global Biodegradable Foam Market Size is expected to witness high growth. The global Biodegradable Foam Market is estimated to be valued at US$ 906.1 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030.

The Asia Pacific region is expected to be the fastest growing as well as dominating region in the biodegradable foam market during the forecast period. Countries like China, India, Indonesia account for the major share in Asia Pacific biodegradable foam market due to the presence of packaging and consumer goods industries in these countries.

Key players operating in the biodegradable foam market are BASF SE, Arkema SA, Dow Chemical Company, Synbra Technology BV, and Sekisui Alveo AG. BASF SE offers Ecovio, a biodegradable and compostable foam made from renewable resources for applications in hygiene, agriculture and packaging. Arkema offers GreenSkin foam used in shock absorption padding.

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