Molded Pulp Packaging Market Worth $5.6 Billion By 2028
The global molded pulp packaging market size is projected to reach nearly USD 5.6 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 6.1% over the forecast period of 2020-2028. Owing to the factors such as rise in middle-class population, growth in demand from the food packaging sector, electronics industry, healthcare sector, along with increasing preference for lightweight and sustainable packaging. Further is the growth of the molded pulp packaging may hamper due to the growing demand for safe and convenient packaging in the electronics sector.
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The growing bans on single-use plastic and other plastic packaging items across the globe, combined with increasing customer preference for sustainable solutions, are expected to be the main drivers of demand for molded pulp packaging. The drug is commonly used for fresh fruit packaging as it is odorless and water and oil resistant. Efficient packaging is important for the secure transport and handling of electronic goods, taking into account their fragility. Molded pulp provides excellent resistance to compression and shock absorption, along with sufficient thermal resistance. This offers a range of defensive functions including blocking, bracing, and cushions. Many of these properties, electronics manufacturers use vast quantities of molded pulp for their products. Also, the rising electronics industry worldwide is expected to improve the packaging demand for molded fiber pulp in the coming years.
The report also outlines the various characteristics of the global Molded Pulp Packaging industry by assessing the market from value chain analysis. Moreover, the Molded Pulp Packaging market report comprises various qualitative parts of the Molded Pulp Packaging industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
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The Molded Pulp Packaging market has huge competition amongst the already well-known and new market players. Also, the Molded Pulp Packaging industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Molded pulp packaging market covers segments such as molded type, product source, and end-user. Based on the product segments, the sub-markets include bowls, plates, cups, trays, and clamshells. On the basis of source type, the sub-markets include wood and non-wood. Based on molded type, the sub-markets include thermoformed, thick wall, thermoformed, transfer, and processed. On the basis of end-user, the sub-markets include food and beverages, personal care, automotive, electronic, and other end-user.
Asia-Pacific dominates the global demand for molded pulp packaging. Countries such as China, India, and Japan contribute over the forecast period to the growth of the demand for molded pulp packaging in Asia-Pacific. Furthermore, the factor such as growth in food packaging, healthcare, and consumer electronics industries, rapid urbanization, and increasing disposable income increases business growth. Over the forecast period, North America is projected to hold a large share in this market. The US is the largest competitor to the demand for molded pulp packaging. In addition to this, the increase in demand for sustainable packaging fuels the growth of the European region's molded pulp packaging industry. Owing to countries like Saudi Arabia, South Africa, and Turkey, the Middle East & Africa are expected to experience significant growth rates in this sector.
The key players of the market include Henry Molded Products, Inc., Sabert Corporation, Fabri-Kal Corporation, Pro-Pac Packaging Limited, Genpak LLC, UFP Technologies, Inc., Huhtamäki Oyj, Brødrene Hartmann A / S, EnviroPAK Corporation.
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Segment Overview of Global Molded Pulp Packaging Market
Type Overview, 2018-2028 (USD Billion) (Million Tons)
Thick Wall
Transfer
Thermoformed
Processed
Source Overview, 2018-2028 (USD Billion) (Million Tons)
Wood Pulp
Non-wood Pulp
Product Overview, 2018-2028 (USD Billion) (Million Tons)
Trays
End Caps
Bowls & Cups
Clamshells
Plates
Others
End User Overview, 2018-2028 (USD Billion) (Million Tons)
Food Packaging
Food Service
Electronics
Healthcare
Industrial
Others
Regional Overview, 2018-2028 (USD Billion) (Million Tons)
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
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