Molded Fiber Pulp Packaging Market Players Look to Capitalize on Sustainability Trend: Study
Future Market Insights (FMI) estimates global molded fiber pulp packaging market to sustain growth rates of over 5% through 2030, and reach US$ 13 billion by 2030. The report attributes the growth of the market to growing demand for effective packaging solutions in the food & beverages and consumer durable sector.
Moulded Fibre Pulp Packaging Market
A recent market report published by Future Market Insights on the molded fiber pulp packag...
As the sales of food products, mobiles, and laptops continue to soar, consumers are seeking strong packaging solutions for seamless storing and transportation applications.
FMI study also remarks that the eco-friendly and biodegradable nature of molded fiber pulp facilitates recycling, thus aiding in reducing the costs associated with production.
However, the report opines that the COVID-19 pandemic will exhibit an adverse impact on the growth of the market owing to changing eating patterns of consumers and the closure of retail outlets.
- Trays and clamshell containers collectively account for nearly 70% of market value, backed by the large volume of products they facilitate packaging.
- Transfer molded pulp will capture more than 50% of market value owing to the thinness that makes it highly sought-out among consumers.
- Primary packaging will channel over 70% of market value ascribed to high adoption in consumer durables segment
- By end-use, the F&B segment will drive over 2/5th of revenue, owing to the high demand to pack and store eggs.
- APEJ will spearhead the regional landscape, accounting for nearly 2/5th of market value, attribute to soaring sales of mobile phones in India and China.
- Western Europe and North America are expected to collectively account for 40% of market value, backed by high consumption of wine and equal demand for consumer durables.
“Market players are focusing on developing products with innovative features to facilitate different forms of packaging and to overcome the existing strength-related limitations," remarks FMI analyst.
The outbreak of COVID-19 has brought the trade, sales, and transportation activities to a screeching halt, thus negatively impacting both the consumer durable electronic goods and F&B sectors.
Owing to the reliance of the molded fiber pulp packaging market on the aforementioned sectors, hindered operations have led to demand contraction, thus pushing the immediate future of the market into uncertainty.
In addition to supply chain-related difficulties, changing eating patterns of consumers - such as high demand for home-cooked food - is likely to further decelerate the growth. Likewise, economic uncertainty has affected the purchasing power of consumers, thus leading to a downfall in sales of non-essential consumer durables. These factors are likely to create fluctuations in the growth trajectory of the molded fiber pulp packaging market.
Who is Winning?
Molded fiber pulp packaging market players are focusing on designing and developing innovative and customized products that cater to specific consumer requirements. On these lines,
- In May 2019, Huhtamaki launched a new line of meal trays which is suitable for both microwave and regular ovens.
- UFP technologies offers solutions that accommodate multiple models of an industrial door closing mechanism into one tray only.
FMI’s report includes profiles of some of the most prominent names in the market including UFP Technologies, Inc, ESCO Technologies Inc, Huhtamaki Oyj, Brodrene Hartmann, Henry Molded Products, Inc, ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC, Keiding, Inc, FiberCel Packaging, LLC, Pactiv LLC (Reynolds Group Holdings Ltd.), and OrCon Industries Corporation, among others.
To Know More About Molded Fiber Pulp Packaging Market
A new market research report published by Future Market Insights (FMI) on the global molded fiber pulp packaging market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product type, molded pulp type, application, end-use, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.
About Packaging Division at Future Market Insights
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 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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