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.
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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.
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.
“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.
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.
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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..