Our recently published report Molded Pulp Packaging Market offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis. As per research, the molded pulp market size was estimated at around US$ 4.9 billion in 2022, growing at a CAGR of nearly 7.9% during 2022-2030. The market is projected to reach approximately US$ 9.8 billion by 2030.
Molded Pulp Packaging Market: Overview
Molded Pulp Packaging products are manufactured from biodegradable materials and are capable of absorbing wing-to-cushion shock properties. This ensures the protection of the product, which includes handling, transportation, as well as storage. These packaging products have aeration properties they have a microporous structure that helps in absorbing moisture attributed to their chemical structure.
Browse the full “Molded Pulp Packaging Market Size, Share, Growth Analysis Report By Product Type (Trays, Cups, Clamshells, Plates, Splitters, Others), By Molded Pulp Type (Rotary Molding, Fiber Thermoforming/Wet Press, Industrial Molding Pulp/Dry Press), By End Use (Eggs, Agriculture, Food Food Services, Electronics, Appliances, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2022–2030″ report at https://www.custommarketinsights.com/report/molded-pulp-packaging-market/
Growth Factors
The growth in the e-commerce sector as a result of increasing urbanization is expected to create a demand for customized bio-degradable and recyclable packaging solutions. Further, the rising awareness among consumers of environmental issues caused by plastics and other harmful packaging materials has resulted in increased demand for Molded Pulp Packaging products. Additionally, government regulations for bio-degradable and recyclable products are pushing manufacturers in numerous manufacturing industries to opt for Molded Pulp Packaging products.
Segmental Overview
The market for molded pulp packaging is segmented into product type, molded pulp type, and end-use. Based on product type, the market for trays is expected to dominate during the forecast period. Moreover, based on molded pulp type, the rotary molded pulp type is anticipated to show noticeable growth owing to its cost-effectiveness. By end use, the eggs segment is expected to dominate attributed to the rising egg consumption globally. For instance, as per the US Department of Agriculture, egg consumption in the country is growing every year, which is expected to create a high demand for molded pulp trays. Based on end-use, the food and food service segment appeared as one of the leading segments in 2021.
Molded pulp packaging solutions are used for the packaging of vegetables and fruits to help regulate fruit respiration along with maintaining ethylene density. However, the electronics application segment is projected to notice a high CAGR during 2022-2030. The growth is due to high product demand for electronic device packagings, such as computers, printers, cellphones, modems, hard drives, and others.
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Regional Overview
Asia Pacific region to present a lucrative market
Asia Pacific is estimated to witness a high CAGR growth during the projected period. The growth of the urban population along with the rising e-commerce sector in the region is expected to drive market growth. Other factors include the easy availability of labor and raw materials and the increasing use of advanced technology for producing high-quality Molded Pulp Packaging. In Europe, Germany is estimated to hold the largest market share in 2021.
Key Players Insights
The players operating in the Molded Pulp Packaging market are focused on forming strategic partnerships as well as developing manufacturing capabilities through the introduction of advanced technologies. The market is highly fragmented in nature, thus including high competition. Due to the highly fragmented nature of the market, the bargaining of buyers is high. Entry barriers are moderate to low.
Some recent developments in the market:
April 2022: Sabert Corporation, an innovative food packaging solution provider, launched the Kraft Collection, the company’s new product line. This Collection includes wide-ranging corrugated and paperboard food packaging solutions developed from compostable, recyclable materials, as well as comprise post-consumer fiber content, underlining the company’s long-lasting commitment to sustainability.
Some of the prominent players
- Maspack Ltd
- UFP Technologies Inc.
- EnviroPAK Corporation
- Huhtamaki, Ltd.
- Best Plus Pulp Co.
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