New York, United States , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Global Consumer Foam Market Size to Grow from USD 41.7 Billion in 2023 to USD 60.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.76% during the forecast period.
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Customers are becoming more aware of the benefits of foam products, such as improved comfort, durability, and support. As people become more aware of the benefits of foam-based products, such as mattresses, pillows, and furniture, demand for them rises. As people recognise the importance of healthy sleep, there is a growing demand for soft mattresses and pillows. Memory foam, latex, and other specialty foams cater to this desire by providing personalised and supportive sleep options. With the rise of e-commerce platforms, consumers now have easier online access to a wide variety of foam items. Direct-to-consumer mattress companies, for example, use the internet to reach a bigger audience, driving industry growth. Foam is used in a range of industries other than mattresses, including automotive, packaging, and healthcare. The advancement of these industries contributes to the overall growth of the consumer foam market. Foam goods meant to address health and wellness issues, such as orthopaedic mattresses or ergonomic pillows, are gaining traction as people value products that contribute to their overall well-being.
Consumer Foam Market Value Chain Analysis
The value chain begins with the production of raw components such as polyurethane chemicals, latex, and other additives. Chemical companies provide these chemicals to foam manufacturers. Foam manufacturers play an important role in the value chain. They use the raw materials to manufacture foams such as polyurethane foam, memory foam, and latex foam. Manufacturing processes can include mixing, moulding, and curing. Some foam products, notably those used in the automobile and furniture industries, require the inclusion of additional components. Covers made of fabric, zippers, and other materials may be included. Suppliers of these components are also included in the value chain. Foam is found in a wide range of consumer goods, including mattresses, pillows, furniture, and vehicle components. After the products have been assembled, they must be distributed to stores or directly to consumers. Retailers, whether through physical stores or online platforms, are the final link before reaching the end consumer. Individuals who buy mattresses, pillows, or furniture for their own use are the ultimate users of foam products.
Browse key industry insights spread across 187 pages with 124 Market data tables and figures & charts from the report on the "Global Consumer Foam Market Size By Type(Rigid Foam and Flexible Foam), By End-Use(Bedding & Furniture, Automotive), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Type
The flexible foam segment accounted for the largest market share over the forecast period 2023 to 2033. Polyurethane foams, for example, are well-known for their softness and flexibility, making them extremely comfortable. As a result, they are appropriate for usage in mattresses, pillows, and upholstered furniture. Memory foam and other specialty foams have gained popularity in the bedding sector. Customers appreciate how these foams conform to their bodies, providing support and comfort for a restful night's sleep. With a greater emphasis on health and wellness, demand for ergonomic and orthopaedic foam products has surged. Flexible foams are commonly utilised in mattresses and pillows to provide ideal spinal alignment and support.
Insights by End Use
The bedding and furniture segment accounted for the largest market share over the forecast period 2023 to 2033. The rise of e-commerce has contributed to the growth of the bedding and furnishings business. Customers may now buy mattresses and furnishings online thanks to direct-to-consumer marketing strategies. Consumers' need for comfortable sleeping alternatives has fueled the growth of foam mattresses and pillows. Memory foam, latex foam, and other specialty foams provide support and conform to particular body shapes, enhancing overall comfort. As individuals become more aware of the value of good sleep, there is a higher demand for orthopaedic mattresses that provide ideal spinal alignment and support. Consumers are actively informed about the benefits of foam in beds and furniture, with pressure relief, motion isolation, and breathability promoted.
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Insights by Region
North America is anticipated to dominate the Consumer Foam Market from 2023 to 2033. The simplicity of purchasing on the internet has encouraged the growth of the consumer foam industry via e-commerce platforms. Direct-to-consumer systems, which allow people to purchase foam things online, have risen in popularity. Environmentally friendly and sustainable foam products are becoming increasingly popular. Consumers in North America are becoming more aware of the environmental impact of their purchases, resulting in a desire for greener alternatives. Consumers value comfort and health-related considerations when purchasing foam goods. This includes ergonomically designed pillows and mattresses designed to improve sleep quality. The North American consumer foam market is distinguished by a diverse range of players, ranging from well-established manufacturers to innovative startups.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Rapid economic growth in many APAC countries has increased consumer spending, moving the consumer foam market ahead. In APAC, foam is used in automobile seats, headrests, and interior components. The expansion of APAC e-commerce platforms has made foam items more accessible to a broader consumer base. Direct-to-consumer business models are becoming more widespread. Domestic and international businesses compete in the Asia-Pacific consumer foam market. Established businesses and those with great marketing methods often have an advantage in terms of consumer trust and recognition. The varied geography and distribution limits in several APAC countries may present logistical issues, affecting supply chain efficiency.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Players in the Global Consumer Foam Market Include BASF SE, Covestro AG, Huntsman Corporation, INOAC Corporation, Recticel NV, Rogers Corporation, Sekisui Chemical Co. Ltd., The DOW Chemical Company, The Woodbridge Group, Ube Industries, Ltd., and other key companies.
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Recent Market Developments
- In February 2020, Icynene-Lapolla (US), a manufacturer and supplier of spray polyurethane foam (SPF) insulation solutions for residential and commercial applications, was bought by Huntsman Corporation.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Consumer Foam Market, Type Analysis
- Rigid Foam
- Flexible Foam
Consumer Foam Market, End Use Analysis
- Bedding & Furniture
- Automotive
Consumer Foam Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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