Dublin, Sept. 30, 2022 (GLOBE NEWSWIRE) -- The "Molded Pulp Packaging Market Size, Share & Trends Analysis Report by Source (Wood Pulp, Non-wood Pulp), by Molded Type (Thermoformed, Transfer), by Product, by Application, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global molded pulp packaging market size is expected to reach USD 9.11 billion by 2030, according to this report, expanding at a CAGR of 7.4% during the forecast period. The growing demand for environment-friendly sustainable packaging by end-users, rising awareness toward waste management, and environmental concern on single-use plastic are attributed to be the key drivers of the market for molded pulp packaging.
The escalated production and consumption of plastic has become a major global environmental problem due to inefficient waste management systems. According to a United Nations Principles for Responsible Investment (UNPRI) report, less than 20% of the world's plastic gets recycled yearly. Plastic is a non-biodegradable substance, resulting in environmental pollution wherein the world's 40% of plastic waste comes from packaging. Therefore, end-use industries are moving toward sustainable packaging approaches, considering this global issue.
Lately, molded pulp packaging was limited to egg trays, and some basic packaging; however, the demand has increased considerably due to its sustainable properties. Molded pulp packaging is completely renewable and biodegradable as it is made from various plant-based fibers.
Also, the National Representative Survey stated that 34% of households conducted grocery shopping online more frequently since the beginning of the pandemic, and 60% of these households planned to continue shopping online after the pandemic ends. The rise in online shopping increased the demand for packaging material for safe delivery. However, shortages of raw materials owing to supply chain disruptions have increased the prices of the packaging products.
Molded Pulp Packaging Market Report Highlights
- The wood pulp segment dominated the market with a revenue share of 86.2% in the source segment in 2021. The abundant availability of virgin wood and wastepaper at a lower cost is responsible for the highest share of the segment in 2021
- The transfer type segment accounted for the highest share of 57.3% in 2021 owing to the high penetration of transfer molded pulp products such as clamshells and trays for fruits and eggs packaging
- Trays emerged as the dominant product segment with a revenue share of 41.6%. Wide availability, low cost, and good shock absorption capabilities for transport of fragile products including glass beverage bottles, wine bottles, eggs, and other glass products have contributed to the highest share of the segment
- The electronics end-use segment is anticipated to advance at the highest CAGR of 8.8% during the forecast period. Several electronic products such as modems, set-up boxes, refrigerators, inverters, and printers are packaged using molded pulp packaging products such as end caps. End caps protect electronic products during storage and transportation
- New product developments coupled with mergers & acquisitions, and capacity expansions are some of the strategies adopted by industry players. For instance, in December 2019, Huhtamaki launched a packaging product line called Future Smart Duo Fiber Lid, suitable for cold and hot beverages. It is a sustainable packaging solution produced using a mixture of bagasse and wood fibers
Market Dynamics
Market Driver Analysis
- Rising Consumption of Eggs and Fresh Fruits
- Growing Demand for Sustainable Packaging
Market Restraints
- Availability of Substitute Packaging Products
- Market Challenges
- Aesthetic Limitation of Molded Pulp Products
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, And Scope
Chapter 4 Molded Pulp Packaging Market: Source Estimates & Trend Analysis
Chapter 5 Molded Pulp Packaging Market: Molded Type Estimates & Trend Analysis
Chapter 6 Molded Pulp Packaging Market: Product Estimates & Trend Analysis
Chapter 7 Molded Pulp Packaging Market: Application Estimates & Trend Analysis
Chapter 8 Molded Pulp Packaging Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Analysis
Chapter 10 Company Profiles
Companies Mentioned
- Brodrene Hartmann A/S
- Huhtamaki Oyj
- UFP Technologies, Inc.
- Thermoform Engineered Quality LLC
- Genpak, LLC
- Eco-Products, Inc.
- Pro-Pac Packaging Limited
- Fabri-Kal
- Henry Molded Products, Inc.
- Sabert Corporation
For more information about this report visit https://www.researchandmarkets.com/r/u9hpkz
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