Molded fiber packaging is set to grow at a 5.1% CAGR, driven by demand for sustainable solutions in food and beverage sectors.
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.
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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.
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.
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Key Takeaways from Molded Fiber Pulp Packaging Market
“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
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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..
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article discusses the growth of the molded fiber pulp packaging market, driven by demand for sustainable packaging solutions.
It is gaining popularity due to its biodegradable nature and protective qualities, making it ideal for various industries.
Significant growth is observed in North America, particularly the U.S., and Asia Pacific, with China leading the market.
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