NEWARK, Del, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global molded fiber pulp cap market is likely to grow from US$ 1.2 Bn in 2022 to US$ 1.8 Bn by 2032, with the overall demand surging at 4.4% CAGR throughout the forecast period. Rising adoption of molded fiber pulp across various industries and growing demand for sustainable and eco-friendly packaging solutions are driving growth in the global market.
Molded Fiber is now being used as protective packaging for a broad range of items, including egg cartons. Lately, molded fiber brand goods have been sold for protective packaging for diverse applications.
Molded fiber brands were used primarily for egg dishes since the 1970s. However, with innovations in product material and design, application area of molded fiber packaging gradually widened.
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Today's moldable fiber is widely used in place of paper and other carbon-fiber derivatives for the production of protective packaging like molded fiber pulp caps. These molded fiber pulp caps are used in the packaging industry due to their insulating properties and ability to dissipate vibration. They enable industries like food & beverages, automotive, electronics, and cosmetics to protect their products from external forces during storage and transportation.
Thus, rising adoption of molded fiber pulp caps across these industries will eventually boost market growth during the forecast period.
Similarly, increasing R&D initiatives targeted at boosting product recycling efficiency is also predicted to promote market expansion during the forthcoming years.
Key Takeaways from Molded Fibre Pulp Cap Market
- Based on molded fibre type, thermoformed segment is expected to grow at 5.1% CAGR during the forecast period, creating an incremental opportunity of US$ 257 Mn.
- By end use, beverage segment is anticipated to expand at 4.7% CAGR between 2022 and 2032.
- The U.S. molded fiber pulp cap market is likely to accelerate at a CAGR of 4.8% during the forecast years 2022-2032.
- The molded fiber pulp cap market in China is expected to accelerate with a CAGR of 7.3% during the forecasted.
- Demand for molded fiber pulp caps in India is anticipated to rise at 7.2% CAGR throughout the forecast period.
“Rising demand for sustainable and protective packaging options, rapid expansion of food & beverage industry, and increasing government initiatives for clean and safe environment are expected to provide impetus to the growth of molded fiber pulp cap market over the next ten years,” says FMI analyst
Growth in Packaged Food Segment is Driving the Growth for Molded Fiber Pulp Caps Market
The beverage segment includes businesses in the processing of beverages and packed food materials, packaging, and distribution of food, as well as alcoholic and non-alcoholic beverages. The worldwide food and beverage industry is being propelled ahead by two significant drivers: growing acceptance of ready-to-eat food and a growth in the number of on-the-go customers. Furthermore, increased population and per capita income, as well as changing lifestyles, are boosting the industry. Additionally, increased meat and alcohol consumption, as well as the development of the food supply chain, are all driving factors in the industry's growth.
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Ice cream, waffles, pancakes, ready-to-eat noodles, and yoghurt, among other items, require molded fiber pulp caps for packaging and serving. These commodities are expected to see a significant boost in demand, particularly among teenagers during the forecast period. As a consequence, this factor is predicted to drive market development throughout the forecast period.
Increasing Innovation in Eco-friendly Solutions to Bolster the Molded Fiber Pulp Cap Market
The increasing production of wood pulp-based packaging solutions, together with the rising demand for molded fiber pulp packaging as a means of protective packages such as flower pots and containers of beverages are anticipated to fuel growth of the market for pulp-based packaging over the forecast period.
Manufacturers of fast-moving consumer goods have concentrated on providing consumer-friendly, eco-friendly packaging solutions, thereby offering greater value and ensuring a higher level of customer satisfaction. Technological developments have allowed for improved techniques for printing and coating molded fiber products.
Global Molded Fibre Pulp Cap Market Landscape
Some of the estimated leading players operating in the molded fibre pulp cap market include EnviroPAK Corporation, UFP Technologies, Keiding, Inc, FiberCel Packaging LLC, ProtoPak Engineering Corporation, Pacific Pulp Molding, LLC, Cullen Eco-friendly Packaging, Huhtamaki Oyj, Henry Molded Products Inc., Spectrum Lithograph Inc., ESCO Technologies Inc., Brodrene Hartmann A/S, Celluloses De La Loire, Dynamic Fibre Molding Pvt Ltd, Greenpacking Environmental Protection Technology Co, Dongguan City Luheng Papers Company Ltd, OrCon Industries Corporation, Guangxi Qiaowang Pulp Packing Products Co Ltd, Primapack SAE, Guangzhou NANYA Pulp Molding Equipment Co, Ltd. and others.
These players are continuously introducing new products, establishing new recycling facilities, and forming partnerships and collaborations to gain a competitive edge in the market.
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Molded Fiber Pulp Cap Market by Category
By Molded Pulp Type:
- Processed Pulp
- Thick Wall
- Thermoformed
- Transfer Molded
By Distribution Channel:
- Online
- Offline
By End Use:
- Beverage
- Personal Care and Cosmetics
- Healthcare
- Automotive
- Others (Household)
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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