Global consumption of molded fiber pulp for packaging application surpassed 3 million ton in the first quarter of 2020, says a recently published report by FMI. The market which is largely characterized and tagged as a sustainable solution to conventional packaging have forayed in the mainstream packaging, and drifting from its earlier form. For a large chunk of time, usage of molded fiber pulp packaging remained synonymous to egg trays, but over the past three years the industry witnessed at least 5 new packaging product launches made out of molded fiber pulp. “These launches were not confined to food & beverages, but non-conventional products were the point of attraction” said the analyst closely tracking the market at FMI.
Molded fiber pulp packaging market evolved from the shadow of egg trays and is being used to pack and ship products ranging from large industrial goods to miniature electronic components, and pharmaceutical consumables and equipment to beverage carriers.
“Opportunity in global molded fiber pulp packaging sector is ripe and companies operating in this sector are captivated by the latent potential of this segment of almost a billion dollar packaging sector” said the analyst
Blue Eyed Boy of Packaging Sector – the Molded Fiber Pulp Packaging
Over the next five years, an anticipated opportunity of US$ 2 billion is likely to be created in the global molded fiber pulp packaging market. The industry is poised to report an impressive growth of over 5% during this period, and thus the market is also referred as blue eyed boy of packaging sector.
The application of molded fiber pulp hasn’t limited to mainstream application but many innovative products have been launched by engaged companies. List of such products include molded pulp coolers, flower pots, disposable urinals, POP Display to name a few. Report by FMI on global molded fiber pulp packaging provides a list of over 25 such products and examines its commercial success in the years to come.
For More Detailed Insights on Molded Fiber Pulp Packaging Market
Key Takeaways of Molded Fiber Pulp Packaging Market Study
- In terms of market share and incremental opportunity, trays segment is expected to remain as the most attractive market during the forecast period
- Clamshell containers segment is expected to expand by 1.72x of its current value by 2030 and is projected to expand at a CAGR of 5.6% during the forecast period
- End Caps segment is expected to expand by 1.54x of its current value by the end of 2030
- Asia Pacific to continue its dominance in overall supply to the global market with over 30% market share.
Post COVID-19 Pandemic Era will be Factorable with Anticipated Heightened Demand for Disposable Tableware with an Essence of Sytainability
COVID-19 pandemic has created multiple challenges for the packaging industry and reiterated its need to design sustainable solutions to reduce the pressure on landfills. Multiple restrictions of supply chain and logistical hurdles due to lockdown have slowed down the packaging industry, creating a stressed operating conditions for molded fiber pulp packaging companies.
Future Market Insights predicts that molded fiber pulp packaging market will begin recovery in Q4 2020, starting with South and East Asia as they will still have a stronghold over manufacturing activities. All key countries resumed production of molded fiber pulp packaging with limited operating efficiency. Thus, by the end of 2021 the demand and supply equilibrium of molded fiber pulp packaging will be achieved.
More Valuable Insights on molded fiber pulp packaging Market
In its latest report, Future Market Insights offers an unbiased analysis of the global molded fiber pulp packaging market, providing historical data for period of 2015-2019 and forecast statistics for the period of 2020-2030. To understand opportunities in the molded fiber pulp packaging market, the market is segmented on the basis of product type (trays, clamshells, bowls, drink carrier, plates, end caps, etc.), molded pulp type (thick wall, transfer molded, thermoformed molded, processed pulp), and industry (consumer durable and electronic goods, food & beverages, cosmetics, pharmaceuticals, automotive component, food service, logistics, healthcare, others), and across six major regions.
Key players considered in this report on the global moulded fibre pulp packaging market include UFP Technologies, Inc, ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Pacific Pulp Molding, LLC, Keiding, Inc, FibreCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd., Pactiv LLC (Reynolds Group Holdings Ltd.).,OrCon Industries Corporation, Celluloses De La Loire, Spectrum Lithograph, Inc., Dynamic Fibre Moulding (PTY) Ltd, to mention a name of few.
About Packaging division of FMI
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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 London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take 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 track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.