EPS (Expanded Polystyrene) Foam Containers are used across the world for packaging of food, CD & DVD, meat and egg trays. Foam containers are made up of Expanded Polystyrene, also known as Beadboard which is rigid plastic foam with a closed cell structure. High demand for lightweight protective packaging solutions which are convenient to handle is expected to be one of the key drivers for the growth of EPS foam containers market. Low thermal conductivity, Moisture resistance are key properties of EPS Foam containers which are highly desired in food packaging. Foam container prevents leakage of liquid items food which increases its importance in the foodservice market. The global foodservice market to grow at a CAGR above 5% during the period 2017-2021. Innovative packaging is trending factor in the foodservice market. EPS Foam food packaging service is helpful to minimize foodborne illness as compared to other alternatives uses in food packaging sectors. The demand for EPS foam containers is expected to grow during the forecast period, on the backdrop of rising demand for economical and lightweight containers
EPS Foam Containers Market: Dynamics
Use of EPS foam containers market in food packaging services has increased in the past few years. During 2017-2022, global food market is expected to grow at a CAGR of above 8% to reach a market size of over $500 Billion, which can also help to increase market of EPS foam containers. EPS Food Container are used in restaurant, meat container in malls, coffee mugs, carry food from stalls, to serve take-out foods which increase the importance of EPS foam containers. It is also used as a fish container because of superior insulation property. EPS packaging industry has been projected to grow 5% in CAGR during 2016-2025. Environmental concerns regarding polystyrene foam are expected to hamper the growth of the market. New York and several other cities in US have completely or partially banned EPS Foam. The competition in the market is expected to increase during the next ten years with the rise in use of biodegradable plastics.
Asia Pacific region is the main consumer of EPS foam containers accounts for nearly 48% in the global market. After that Europe is the second largest consumer of EPS foam containers which shares more than North America. However, India and China as developing countries have growing need for EPS foam containers. Others regions like Latin America, Africa also consumes EPS foam containers and need also grows year to year. EPS Foam containers market having more growth in seafood processing countries because of seafood exports and maintaining freshness. The EPS foam containers market in Japan is expected to grow, fueled by factors such as growing seafood market.
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EPS Foam Containers Market: Key Players
Alpek, Kaneka Cooperation, Synthos Chemical Innovations, Dabo Precision Co., Nuova Idropress, Atlas EPS, KBM, BASF SE, ACH Foam Technologies, LLC, SUNPOR KUNSTSTOFF GmbH are the key manufacturer in EPS foam containers market.