Burlingame, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The global molded fiber pulp packaging market was valued at US$ 8,529.2 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.2% during the forecast period (2022 to 2030). , according to a new study conducted by Coherent Market Insights, Inc. Molded fiber pulp packaging is a sustainable packaging material produced from recycled paper products, such as cardboard, newspapers, and other paper waste. This packaging is widely used for protecting various products during transit, as well as for offering sustainable and eco-friendly packaging solutions. The market is growing on the account of growing emphasis on environmental sustainability, rising consumer awareness, and strict environmental regulations against non-recyclable packaging products.
Key Industry Insights & Findings from the report:
- In September 2021, AR Packaging reveals R&D consortium with PulPac and RISE to spearhead development of standard product concepts. The objective for the consortium of AR Packaging, PulPac and the Research Institute of Sweden (RISE) is to develop and commercially validate ten standardized product concepts within different packaging and single-use applications during next three years.
- In April 2022, Ume and Solenis double down on existing partnership to accelerate the adoption of sustainable packaging in the global food industry. The companies are introducing a comprehensive line of 100% PFAS-free molded fiber packaging, including hot cup lids, bowls, egg cartons, protein trays and more
- Global molded fiber pulp packaging market is expected to exhibit a CAGR of 6.2% during the forecast period, owing to growing demand for sustainable packaging materials from wide range of industries due to growing environmental concerns.
- On the basis of Molded Pulp Type:, transfer molded segment is expected to hold a dominant position. It is often used for egg cartons and trays.
- On the basis of Product Type, Tray segment is expected to hold a dominant position, owing to the growing demand from food and beverage and electronic industry for fruits, eggs, electronics, etc.
- On the basis of End-use, Food & Beverage (F&B) Packaging segment is expected to hold a dominant position, owing to the growing use of packaging for takeout, delivery, and restaurant use.
- On the basis of region, Europe is expected to hold a dominant position over the forecast period, due to increasing demand from food and beverage industry. Also, changing consumer eating healthy foods, has further positively impacted the molded fiber pulp packaging market growth.
Read full market research report, "Molded Fiber Pulp Packaging Market, By Molded Pulp Type (Fuming, Thick Wall, Transfer Molded, Thermoformed Fiber, Processed Pulp), and By Region, Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030", published by Coherent Market Insights.
Key Trends and Analysis of the Global Molded Fiber Pulp Packaging Market:
Advent of wood-fiber based packaging solution is a growing trend. In June 2021, WestRock Company has announced an expansion of its produce packaging offerings with the launch of its EverGrow™ Collection. The collection serves innovative alternatives to single-use plastic packaging for produce from snacking tomatoes to apples.EverGrow packaging is curbside recyclable when emptied and flattened, supporting the company’s ambition to reduce waste and build a 100 percent reusable, recyclable and compostable product portfolio
Molded Fiber Pulp Packaging Market Report Coverage
| Report Attribute | Details |
| Market size value in 2022 | US$ 8,529.2 million |
| Forecast Period: | 2023 to 2030 |
| Growth rate | CAGR of 6.2% from 2023 to 2030 |
| Base year for estimation | 2022 |
| Historical data | 2017 - 2021 |
| Forecast period | 2023 - 2030 |
Market Drivers:
Growing sustiablity concerns is expected to drive molded fiber pulp packaging market growth
With rising global awareness regarding the environmental issues, there has been a significant push towards using sustainable packaging solutions. Molded fiber pulp packaging is compostable, biodegradable, and often produced from recycled materials, making it an attractive choice for eco-conscious consumers and businesses. Moreover, several countries have introduced regulations and policies that restrict the use of non-recyclable and single-use plastics, this is again fostering market growth.
Increasing prefrences for customization and design flexibility to augment market growth
Molded fiber pulp is easily adaptable into different product types as it can be molded into various sizes and shapes. This flexibility has attracted brands looking for unique packaging designs while still prioritizing sustainability. Their flexibility is a key factor creating demand as a packaging material.
Market Opportunities:
Ongoing investment in the field to present significant market growth opportunities
Key players in the market are investing in research and development activities to expand the use of molded fiber pulp packaging into new applications. For instance, in November 2023, Amcor, a global marketer in developing and producing responsible packaging solutions, has announced its investment of US$3 million in PulPac, a Swedish company providing disruptive manufacturing technology for low-cost, high-performance fiber-based packaging. Amcor is one of several strategic investors in a cross-industry alliance aimed at driving the deployment of PulPac’s technology globally.
Detailed Segmentation:
- Global Molded Fiber Pulp Packaging Market, By Molded Molded Pulp Type :
- Fuming
- Thick Wall
- Transfer Molded
- Thermoformed Fiber
- Processed Pulp
- Global Molded Fiber Pulp Packaging Market, By product Type:
- Tray
- Clamshell & Container
- Boxes
- End Caps
- Others (Cups, Bowls)
- Global Molded Fiber Pulp Packaging Market, By End-use:
- Consumer Durables & Electronics Goods (CDEG) Packaging
- Tube Light & Bulbs
- Mobile Phones
- Others (DVD's, Modems, TV)
- Food & Beverage (F&B) Packaging
- Egg Packaging
- Wine Packaging
- Fruit Packaging
- Others (Vegetables, Frozen food)
- Cosmetic & Beauty (CBP) products Packaging
- Healthcare product Packaging
- Automotive parts Packaging
- Transportation & Logistics
- Others (candles, flower packaging)
- Consumer Durables & Electronics Goods (CDEG) Packaging
- Global Molded Fiber Pulp Packaging Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Middle East & Africa
- By Country/Region:
- Middle East
- Africa
- By Country/Region:
- North America
Company Profiles
- UFP Technologies, Inc.
- ESCO Technologies Inc.
- Huhtamaki Oyj
- Brodrene Hartmann A/S
- Henry Molded Products, Inc.
- ProtoPak Engineering Corporation
- EnviroPAK Corporation
- Pacific Pulp Molding, LLC
- Keiding, Inc.
- FiberCel Packaging, LLC
- Guangxi Qiaowang Pulp Packing Products Co, Ltd.
- Guangzhou NANYA Pulp Molding Equipment Co., Ltd.
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