Consumer Foam Market Size To Rise USD 72.17 Bn By 2032

Published Date : 22 Nov 2023

The global consumer foam market size surpassed USD 47.6 billion in 2022 and is projected to rise to USD 72.17 billion by 2032, anticipated to grow at a CAGR of 4.3 percent during the projection period from 2023 to 2032.

Consumer Foam Market Size and Growth Rate From 2023 To 2032

Market Overview

Consumer foam could be a term used in various industries where foam materials are designed, manufactured, or utilized for consumer related products. Foam materials, known for their lightweight and versatile nature, find application in diverse consumer goods. Foam is often associated with comfort products. Memory foam, for example, is renowned for its ability to conform to the body shape, providing support and comfort. Mattresses and pillows made from memory are popular choices among consumers seeking enhanced sleep comfort.

The consumer foam market is driven by various factors including growing consumer preference for comfort and lifestyle, increasing housing and construction activities, rising e-commerce industry, growing innovation in foam technology and others. Moreover, the increasing mattress demand across the globe is another important factor influencing the market growth over the anticipated timeframe. For instance, according to the National Sleep Foundation, in the United States, 16.8 million new mattresses are sold annually. Furthermore, the growing product launches are also significant factors that propel the market growth over the forecast period.

  • According to the US Censor Bureau, a total of USD 1,744.8 billion was projected to be spent on construction in April 2022, a 12.3% increase over the expected amount of USD 1,5553.5 billion in April 2021.

Regional Insights

North America is expected to hold the largest market share over the forecast period. The market growth in the region is attributed to the increasing housing and construction trends. The demand for foam insulation materials in the construction sector can be influenced by housing market trends. As construction activities and housing projects increase, the demand for foam insulation in residential and commercial buildings may also rise.

In the region, the US is expected to hold a prominent market share during the forecast period. The growth in the country is owing to the increasing demand from the end-use sector including e-commerce, automotive and others. The growth in e-commerce in the US has implications for packaging materials, including foam. With the increase in online shopping, there may be a higher demand for foam packaging solutions to protect goods during transportation.

  • For instance, according to Oberlo, the overall value of US e-commerce sales hit a record high of USD 1.04 trillion in 2022 after increasing by 8.5% yearly. Even though the annual growth rate was less than half of the previous year and the weakest in at least ten years, it nonetheless exceeded the USD 1 trillion mark. This is a remarkable increase when compared to 2013, a decade ago when US internet sales were USD 260.4 billion. In addition, Q2 2023 saw US e-commerce sales of USD 277.6 billion, the highest sum ever recorded for a single quarter. It also shows a rise of 2.1% from Q1 2023 and 7.5% from the previous year. Therefore, the growing demand from the end-use industry in the country is expected to propel the market growth over the projected timeframe.

Consumer Foam Market Report Scope

Report Coverage Details
Market Revenue in 2023 USD 49.41 Billion
Projected Forecast Revenue by 2032 USD 72.17 Billion
Growth Rate from 2023 to 2032 CAGR of 4.3%
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Market Dynamics

Drivers

Increasing utilization of foam in the sports industry

Increasing utilization of consumer foam in the sports industry due to its lightweight, affordability, durability and adaptability. Polyurethane products are used to line motorcycle and cycling helmets to offer cushioning and absorb excess shock impact. It is utilized in sports headgear as a personal protective element. The product is also commonly used as a cushioning material for mats used in wrestling, gymnastics, and martial arts, among other sports. Thus, driving the market growth over the anticipated timeframe.

Innovation in foam technologies

Advances in foam manufacturing technologies, such as the development of new types of foams such as memory foam, gel-infused foam and others, can stimulate market growth. Consumers are often attached to products that offer enhanced features and performance. Thus, driving the market growth.

Restraints

Price volatility

The cost of raw materials, such as petrochemicals, can be volatile and can impact the overall production costs for foam manufacturers. Fluctuations in raw material prices can affect profit margins. Thus, the price volatility is expected to hamper the market growth.

Regulatory compliance

Compliance with regulations regarding safety, fire resistance, and chemical content in foam products can pose challenges for manufacturers. Meeting evolving regulatory standards may require investments in research and development and changes in the production processes. Thus, regulatory compliance might be a hurdle for the market growth during the study period.

Opportunities

Growing demand from the automotive sector

In the automobile company, there is a sizable market for polyurethane foam. The material finds widespread application in automotive interiors, exteriors, doors, windows, and automobile bodies, among other areas. By reducing total weight, the product improves corrosion resistance, insulation, sound absorption, and fuel efficiency in vehicles. The need for better vehicle performance, more electrification, and an increase in the demand for passenger vehicles have all contributed to the global market expansion.

For instance, the Society of Indian Automobile Manufacturers (SIAM) provided figures showing that compared to 30,82,421 passenger vehicles delivered in 2021, a total of 37,92,356 passenger vehicles sold in India.

Growing sustainability initiatives

There is a growing consumer demand for sustainable and eco-friendly products. Companies that prioritize sustainability in their manufacturing processes, use recycled materials, or offer recycling programs for foam products may tap into a market segment focused on environmental responsibility. For instance, a brand-new, cutting-edge line of environmentally friendly PU foams called OrbisTM is created from polyols recovered from recycled post-consumer foam mattresses. The first flexible polyurethane (PU) foam produced in Europe using recycled raw materials is called OrbisTM foam.

Creating a circular economy is the primary motivation for the creation of OrbisTM and other sustainable foams made by The Vita Group. For Orbis, this entails keeping post-consumer materials out of landfills and incinerators to make a truly circular product. At its ICOA plant in Crancey, France, Vita produces OrbisTM foam manufactured from recycled polyols; additional advancements are underway in Germany. Up to 200,000 mattresses will be recycled annually as part of this program. Thus, this is expected to offer a lucrative opportunity for market development over the projected timeframe.

Recent Developments

  • In February 2023, Cruz Foam, a circular materials firm, announced the introduction of a cutting-edge new line of environmentally friendly protective packaging products that emphasize highly effective solutions to fulfil particular client demands for consumers and organizations delivering delicate and temperature-sensitive products. Cruz Foam's unique biodegradable foam surpasses industry requirements for sustainability and performs better than comparable plastic-based solutions.
  • In May 2023, WACKER introduced CAVAMAX® Foam Topping Powder, a solid beverage product, at 2023 HOTELEX Shanghai. The cyclodextrin-containing foam topping powder produces rich, creamy foam toppers when mixed with a variety of drink bases, including water, juice, tea, milk, plant-based milk, and others.
  • In September 2023, in partnership with Dow, LanzaTech Global, Inc., a carbon recycling firm that turns waste carbon into sustainable raw materials, launched a novel biodegradable surfactant for the home care industry. With recovered carbon resources, Dow's surfactant EcoSenseTM 2470 advances sustainability and guarantees quick market entrance while upholding high-performance criteria. It is manufactured with LanzaTech's CarbonSmartTM technology. For many home cleaning and laundry products to foam and have a cleaning effect, surfactants are an essential element.

Key Market Players

  • Tempur Sealy International, Inc.
  • Serta Simmons Bedding, LLC.
  • Sleep Number Corporation
  • Leggett & Platt, Incorporated
  • Carpenter Co.
  • Foamex Innovations
  • Future Foam, Inc.
  • Innocor, Inc.
  • Vita Group
  • Recticel NV
  • Hilding Anders Group
  • Zinus Inc.
  • Sinomax Group Limited
  • Brentwood Home
  • Select Comfort Corporation

Segments Covered in the Report

By End-Use

  • Bedding and Furniture
  • Automotive
  • Consumer Electronics
  • Footwear
  • Others

By Resin Type

  • Polyurethane
  • Polystyrene
  • Polyolefins
  • Phenolic

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