Molded fiber pulp packaging will gain traction due to the expanding application in the food and beverage industry. As per a study by Future Market Insights (FMI), the sales of molded fiber pulp packaging is expected to grow at a CAGR of 5.1% between 2021 and 2031.
Molded fiber pulp packaging is accepted worldwide in protective packaging applications which provide excellent cushioning and vibration dampening properties. Applications of molded fiber pulp packaging in logistics, cosmetics, healthcare, and automotive sectors are growing rapidly.
The disruption in supply chains during the COVID-19 outbreak and the resultant restrictions have negatively impacted sales. Expansion of the food & beverage industry and the rising demand for consumer goods will generate ample growth opportunities to manufacturers in the near future.
The consumption of molded fiber pulp packaging is expected increase exponentially, as recyclable and reusable materials become coveted by leading manufacturers. Efforts to ensure safety compliance and industry standards will positively influence growth.
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By using molded fiber pulp packaging, marketers and retailers are able to meet the demand for sustainability and durability. This has captured consumer attention and has contributed to the adoption of molded fiber pulp packaging in the durables segment.
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.
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