“Global market valuation of pulp moulding machines is expected to surpass US$ 692 Mn by 2021,” reveals the recent research study by Future Market Insight (FMI). According to the report, the pulp moulding machines market is projected to expand at a CAGR of ~ 3.6% during the forecast period of 2021-2031.
According to FMI’s report, increased adoption of sustainable materials in food & consumer goods packaging is expected to gain momentum for moulded pulp containers and allied products.
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Sales of advanced pulp moulding machines are projected to increase with rising demand for single-use sustainable packaging products. The need for automation, improved efficiency, and lower energy consumption in manufacturing of packaging products is leading end users to adopt more advanced pulp molding machines.
In order to satisfy the evolving customer demand for better performing machinery at reasonable prices, manufacturers are adopting the strategy of up-gradation and optimization. Pulp moulding machine manufacturers are actively focusing on quality improvement of their products and energy optimization in production. The European pulp moulding machine manufacturers are at the forefront in research & development activities.
Rotary machines with automatic features are expected to be highly attractive pulp moulding machines during the forecast period. As small & medium scale end users adopt pulp molding machines, sales of semi-automatic pulp moulding machines are estimated to grow at an impressive rate during the forecast period.
The pulp moulding machine with 1,501-3,500 units/hr. capacity is likely to gain momentum in the global pulp moulding machines market, owing to affordability and efficiency.
The rising demand for molded pulp trays from the food & beverages industry is expected to boost the demand for tray pulp moulding machines. Fruit & egg packaging is estimated to be the leading end-use application of pulp moulding machines in 2021.
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South & East Asia Remains the Main Growth Engine for Pulp Moulding Machines
The gigantic food industry in South & East Asia is offering a lucrative sales opportunity for moulded pulp packaging products. Additionally, factors such as rising consumer awareness of sustainable products, expansion of retail distribution, and global food chains entering the market are significantly contributing to the pulp moulding machines market growth.
The food delivery channels are gaining traction in the Asia Pacific region, which also provides high market growth to the food packaging industry. The overall development of the food industry in the Asia Pacific region is expected to provide an impressive growth to the pulp moulding machines market during 2021-2031.
According to the study, environmental, social, and economic concerns have resulted in a growing demand for sustainable packaging products including trays, containers, cups & bowls, plates, and others. Thus, the global moulded fiber packaging market is expected to experience significant growth during the forecast period.
The global retail sector is showing strong performance across the globe. Also, rising concerns of single-use plastic among consumers is likely to create a massive opportunity for stakeholders active in the global pulp moulding machines market during the forecast period.
South & East Asia Remains the Main Growth Engin
FMI’s business intelligence also highlights significant insights into the competitive scenario of the pulp moulding machines market along with manufacturers’ differential strategies. Key players in the pulp moulding machines market are focusing on after-sales services and efficiency enhancement to gain popularity among end users.
For example, BeSure Technology Co., Ltd is strongly focusing on research and development activities to improve the performance of its machines. To achieve the same, the company established a research and development center in Europe to become an international company with China-Europe technical co-operation.
According to FMI’s report, manufacturers are also concentrating on the expansion of businesses in the developing markets and partnering with new value chain participants to achieve sales growth.
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About Future Market Insights (FMI)
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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