New York (US), May 16, 2023 (GLOBE NEWSWIRE) -- Molded Fiber Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Molded Fiber Packaging Market Information by Type, Source, Product, End Use, and Region - Forecast till 2030”, Molded Fiber Packaging Market size was valued at USD 2431.5 million in 2021. The Molded Fiber Packaging market industry is projected to grow from USD 2538.48 million in 2022 to USD 3431.45 million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2022 – 2030).
Market Synopsis
Molded fiber packaging, also known as molded pulp packaging, is an environmentally friendly and sustainable packaging solution made from recycled paper or cardboard. The process involves mixing paper pulp with water and forming it into the desired shape using molds and heat. Molded fiber packaging can be used in a variety of applications, including food and beverage, electronics, cosmetics, and automotive products, among others.
The versatility and eco-friendliness of molded fiber packaging are two major market-driving factors. It is a lightweight yet sturdy material that can be customized to fit a variety of product shapes and sizes. Additionally, it is biodegradable, compostable, and recyclable, making it an attractive alternative to plastic packaging. Another driving factor is the increasing consumer demand for sustainable and eco-friendly products, which has led to more companies adopting molded fiber packaging for their products.
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Market Competitive Landscape:
The affluent companies in the Molded fiber packaging industry include
- Huhtamäki Oyj
- Brødrene Hartmann A/S
- UFP Technologies Inc
- Henry Molded Products Inc
- Robert Cullen Ltd
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 3431.45 million |
| Compound Annual Growth Rate (CAGR) | 6.80% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Growing construction, and oil & gas industry worldwide Growing international trade agreements between countries and organizations |
Browse In-depth Market Research Report (153 Pages ) Molded Fiber Packaging
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March 2021
Huhtamaki, a leading manufacturer of sustainable food packaging, announced the acquisition of Elif, a Turkish flexible packaging company. The acquisition is expected to strengthen Huhtamaki's product offering and expand its presence in the growing Middle Eastern market.
Market USP Covered:
Market Drivers:
Molded fiber packaging is gaining traction in the market due to several factors. Firstly, the growing trend of eco-friendliness is driving the demand for sustainable packaging solutions, and molded fiber packaging is a suitable alternative to traditional plastic packaging. The environmentally friendly nature of molded fiber packaging is attributed to the raw materials used in its production, which are usually waste materials such as recycled paper and cardboard. Additionally, molded fiber packaging is biodegradable and compostable, making it an ideal choice for companies looking to reduce their carbon footprint.
Market Restraints:
The higher cost compared to traditional packaging materials such as plastic or foam. The production process for molded fiber packaging requires specialized equipment and technology, which can be costly to implement. Additionally, the cost of recycled paper or cardboard may fluctuate, affecting the cost of the final product.
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COVID 19 Analysis
The pandemic has also accelerated the shift towards e-commerce, as more consumers turn to online shopping due to social distancing measures. This has led to an increased demand for packaging solutions that can withstand shipping and handling while also being environmentally friendly. Molded fiber packaging has emerged as a preferred solution for e-commerce packaging due to its durability and sustainability.
Another factor driving the market for molded fiber packaging is the increasing focus on reducing plastic waste. Governments and consumers alike are becoming more aware of the negative impact of plastic on the environment, and there is a growing demand for alternatives. Molded fiber packaging, which is made from renewable materials such as recycled paper, fits the bill perfectly. The use of molded fiber packaging can significantly reduce plastic waste, which is a major factor driving the market.
Market Segmentation
By Type
The Type in the market includes Thick-Wall, Transfer Molded, Thermoformed Fiber, and Processed Pulp
By Source
The Source in the market includes Wood )Pulp and Non-Wood Pulp
By Product
The Source in the market includes Trays, Clamshell Containers, and Boxes
By End-user
The Source in the market includes Food & Beverage, Electronics, Personal Care, Healthcare, and Others.
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Regional Insights
North America is a key region in the molded fiber packaging market due to several factors. Firstly, the region has stringent regulations on plastic waste, which is driving the demand for sustainable and eco-friendly packaging solutions. Secondly, there is a growing consumer demand for environmentally friendly products, which has led to an increase in the adoption of molded fiber packaging by companies. Additionally, the rise of e-commerce and the need for protective packaging solutions is also driving the growth of the market in North America.
Europe is another significant market for molded fiber packaging. The region has been at the forefront of the sustainable packaging movement, with several countries implementing policies to reduce plastic waste and promote the circular economy. This has led to an increase in the adoption of molded fiber packaging by companies across various industries, including food and beverage, healthcare, and electronics. The region's emphasis on sustainability and eco-friendliness is also driving the growth of the market.
The Asia-Pacific region is expected to experience significant growth in the molded fiber packaging market due to several factors. Firstly, the region has a large population and a growing middle class, which is driving the demand for sustainable packaging solutions. Secondly, the rise of e-commerce in the region is creating a need for protective and sustainable packaging solutions. Thirdly, several countries in the region, including China and India, have implemented policies to reduce plastic waste and promote sustainable packaging solutions, which is driving the adoption of molded fiber packaging. Overall, the Asia-Pacific region is expected to be a key market for molded fiber packaging in the coming years.
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