Rising adoption of molded fiber pulp packaging in pharmaceutical industry owing to its low cost and easy packaging process will augment the molded fiber pulp packaging market growth.
Future Market Insights, Dubai: The global molded fiber pulp packaging market revenue is estimated to grow at 4.4% in 2021, says Future market Insight (FMI) in its latest study. The overall shipment is expected to reach 3 Mn Tons by 2021, growing at a CAGR of 5.1% between 2021 and 31. The sales of molded fiber pulp packaging product will surpass US$ 7.7 billion with top providers holding around 30% of market share in 2021
Molded fiber pulp packaging offers superior cushioning and vibration dampening, thus emerging as a highly ideal candidate for protective packaging applications. Governments around the world are encouraging the reuse of packaging waste especially in cosmetics and automotive sectors. This will create attractive prospects for the overall market growth.
For instance, as per the European Directive 94/62/EC for Packaging & Packaging Waste, any packaging product with EN13432 certificate will be considered as compostable packaging type by the European Union (EU). Stringent norms implemented by various organizations to ascertain good quality of packaging will have positive impact on the global market.
The unforeseen COVID-19 outbreak disrupted supply chains but also created opportunities for market growth. With rapid expansion of food and beverage industry, rising demand for consumer goods, and soaring popularity of online food delivery services, the demand for molded fiber pulp packaging is expected to increase over the forecast period.
Leading manufacturers are looking to incorporate recyclable and reusable materials in packaging of fast moving consumer goods (FMCG) and are also emphasizing on following safety compliance and industry standards. This will positively influence the market growth.
Increasing demand for hassle free, green packaging solutions along with technological advancements in terms of printing and coating on pulp packaging will boost the adoption of molded fiber pulp packaging in food and beverage packaging sector.
Introduction of impulse drying and 3D printed mold tooling to reduce manufacturing and operation cost and energy consumption will aid in expansion of the molded fiber pulp packaging market.
“Molded fiber pulp packaging is likely to remain highly sought-after as environment friendly packaging solution in logistics and transport industry. Increasing demand for sustainable packaging material with weather protection characteristics will drive the sales of molded fiber pulp packaging over the forecast period”, says an FMI analyst.
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Discover more about the molded fiber pulp packaging market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/moulded-fibre-pulp-packaging-market
As per FMI’s market analysis, top players operating in the molded fiber pulp packaging market are looking to expand their production capacity to cater the increasing demand and are focusing towards production technology development. Leading market players account for more than 20% of global market share in 2021.
For instance, Huhtamaki Oyj started a new fiber packaging line in 2019, for producing food service and egg packaging. The company is also actively investing in research and development to establish new product lines for business expansion.
Chinet is one of the most famous disposable tableware brands in America and offers microwave safe tableware made from molded fiber pulp.
AR Packaging collaborated with PulPac in July 2021 to use the PU300 production platform to meet demand for affordable and sustainable fiber pulp products.
Leading players profiled by FMI operating in molded fiber pulp packaging market include:
More Insights on FMI’s Molded fiber pulp packaging Market
The latest market study on global molded fiber pulp packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to provide a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
By Product Type:
By Molded Pulp Type:
By End Use:
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Key Questions Covered in the Molded Fiber Pulp Packaging Market Report
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