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Polystyrene tubs market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Global polystyrene tubs market: Overview

The global consumer packaging industry has expanded in terms of scope and industries served, over the past few decades. The food industry has been growing steadily, and is driven by food consumption trends. Polystyrene or foam tubs find application in the food industry, mainly for side dishes. Many cuisines have at least one side dish. Polystyrene tubs are preferable for side dishes such as, tartar dips, sauces, and other side dishes. Polystyrene tubs are also used for yogurts. The global polystyrene tubs market outlooks looks positive due to the growing applications of polystyrene material. Growth of the global polystyrene tubs market is expected to be moderate, as it will be driven solely by consumer prejudice on health impacts of Styrene as a material. Also, growing awareness among consumers and governments regarding environmental impact of the materials we use, has led to stringent laws and restrictions, which is also one of the key factors expected to contribute to the fate of the global polystyrene tubs market.

Global polystyrene tubs market: Dynamics

The global polystyrene tubs market is expected to grow on the backdrop of the global polystyrene market. Some of the major contributors to growth of the global polystyrene market are – increase in disposable income of families. Growing economies in developing countries such as India, has increased the fraction of household expenditure on dining out, by as much as 10%. As these countries add more people to the middle class segment of population, more people will explore such options. There are other factors that might hamper growth of the global polystyrene tubs market. Polystyrene is widely considered to be a possible human carcinogen, due to the presence of Styrene.

Amidst growing health concerns, and people being advised not to use foam products, there might be some hindrance to growth of the global polystyrene tubs market. Also, Polystyrene products are slow to break down in landfills, and therefore present the risk of potentially releasing toxic chemicals. Hence, polystyrene tubs can be considered unsafe as they come in contact with the food inside. San Francisco banned all polystyrene take-away containers in 2007, amidst environmental concerns. In June, 2016, San Francisco banned all polystyrene products in the city. Therefore, the polystyrene tubs market outlook for polystyrene tubs in San Francisco does not look very promising.

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In terms of volume, North America region leads the global polystyrene tubs market. That scenario could soon change as a result of government restrictions on the use of polystyrene in the region. Many cities in the US have placed permanent or temporary bans on the use of polystyrene products. These include some of the prominent US cities such as New York City, Seattle, San Francisco, Washington DC, and Portland. Therefore, it is possible for other US regions to follow suit. Although there is spontaneous research and development to ensure that post-consumer Styrofoam (polystyrene) is fully recyclable.

The New York State Supreme Court overturned the New York foam ban. Similar happenings have been reported from Europe, with cities considering foam ban, which has the opposition of companies which invest on R&D. Hence, some turbulence can be expected for the global polystyrene tubs market, over the forecast period. The other regions such as Asia Pacific, Latin America, and Middle East, are expected to be influenced to a certain extent by the mixed response toward polystyrene containers in Europe and North America, but with a significant investment on R&D by companies, it is expected that polystyrene containers, and therefore, polystyrene tubs, will continue to be used, well beyond the forecast period.

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Global polystyrene tubs market: Key Players

Some of the key players in the global polystyrene tubs market are – Merrypak, Dart Container Corporation, and Huhtamaki OYJ

 

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