The growing use of moulded fibre pulp packaging in the food and beverage industries will help it gain popularity. According to Future Market Insights (FMI), between 2021 and 2031, sales of moulded fibre pulp packaging are predicted to expand at a CAGR of 5.1 percent.
Molded fibre pulp packing is widely used in protective packaging because of its superior cushioning and vibration dampening characteristics. The use of moulded fibre pulp packaging in the logistics, cosmetics, healthcare, and automotive industries is rapidly expanding.
Sales have been harmed by the interruption in supply chains caused by the COVID-19 outbreak and the resulting restrictions. The expansion of the food and beverage industry, as well as rising consumer demand, will provide numerous opportunity for producers in the near future.As recyclable and reusable materials become more valued by top businesses, demand for moulded fibre pulp packaging is likely to skyrocket. Efforts to ensure safety and industry standards will have a beneficial impact on growth.
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Marketers and retailers may address the requirement for sustainability and durability by employing moulded fibre pulp packaging. This has piqued customer interest and aided in the adoption of moulded fibre pulp packaging in the durable goods market.
Clamshell containers are the most widely used product type in the molded fiber pulp packaging market as they are considered ideal for stacking applications in multiple end use verticals. Molded fiber pulp packaging provides resealing and re-usability characteristics, driving up the scope of sales for the foreseeable future.
Key Takeaways from Molded Fiber Pulp Packaging Market
Trays are estimated to hold more than 34% of the market share by 2031, owing to wide scope of applications and superior durability.
In North America, the U.S. has emerged as a mature market owing to the presence of major food & beverage manufacturers. It will register incremental opportunity of US$ 774.1 Mn.
Transfer molded pulp products are expected to expand at a CAGR of 5.4%. This pulp type offers manufacturers a better recyclable and responsible alternative to plastic.
China leads Asia Pacific excluding Japan and is expected to reach a valuation of US$ 2.2 Bn in 2031.
The U.K. will dominate Europe, surpassing Germany to reach 21% of the value share by 2031. Growth in the U.K. will be supported by investments in research, and positive prospects for imports.
“The global molded fiber pulp packaging market is driven by surge in demand for sustainable packaging solutions with protective packaging characteristics. These solutions also are considered ideal for logistics and transport,” says an FMI analyst.
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Stringent Regulations Will Support Molded Fiber Pulp Packaging Sales
As concerns regarding packaging waste continue to soar, regulatory bodies have implemented stringent measures to curb the use of single-use plastic. This has proven to be a boon for the molded fiber packaging industry.
Manufacturers are discouraging the use of foam (EPS) in a variety of food and food service packaging services. Nearly a dozen U.S. cities including Washington DC, Seattle, and New York, have banned or taxed the use of polystyrene single-use products.
Thus, the molded pulp packaging industry is projected to have robust growth in these markets as regulatory bodies continue to discourage single-use plastics.
Who is Winning?
Leading players in the molded fiber pulp packaging market are largely focused on production development and capacity expansion strategies. Key players contribute approximately 20-30% of the global market.
Top players include but are not limited to Huhtamaki Oyj., Pactiv LLC, Brodrene Hartmann A/S, Henry Molded Products, Inc., ESCO Technologies Inc., UPF Technologies, Inc., ProtoPak Engineering Corporation and Celluloses De La Loire are the top players operating in the Molded Fiber Pulp Packaging market..
Molded Fiber Pulp Packaging Market by Category
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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