Bio-Based Foam Market to Hit $229M by 2027

The report titled "Bio-Based Foam Market by Raw Material (Corn, Sugarcane, Soy), Type, End-Use Industry (Building & Construction; Packaging; Automotive; Furniture & Bedding; and Footwear, Sports & Recreational), and Region – Global Forecast to 2027” projects that the global bio-based foam market will grow from USD 102 million in 2022 to USD 229 million by 2027. This marks a compound annual growth rate (CAGR) of 23.1% during the forecast period. The primary growth driver is the rising adoption of bio-based materials across a range of end-use industries.

Key Players:
Leading companies in the market include BASF SE (Germany), Huntsman Corporation (US), Cargill, Incorporated (US), Stora Enso (Finland), Braskem (US), and Woodbridge Foam Corporation (Canada), among others.

Recent Developments:

• In February 2022, Huntsman Corporation collaborated with KEEN, Inc. to develop a line of footwear using plant-based soles.
• In February 2022, Sealed Air Corporation acquired Foxpack Flexibles Limited.
• In September 2021, Cargill, Incorporated entered a strategic partnership with Arkema to advance bio-based plasticizers and polyols.

Market Dynamics:

• Drivers: Manufacturers' sustainability objectives are pushing packaging companies toward eco-friendly solutions.
• Restraint: Bio-based foams may experience performance inconsistency and degradation over time.
• Opportunity: FMCG companies are exploring innovative product development using bio-based foams.
• Challenge: The market faces hurdles due to the absence of standardized testing procedures and a shifting regulatory framework.

For more details, download the PDF brochure or request sample pages.