Pulp Moulding Machines Market – Key Research Findings
According to Future Market Insights’ recent market report titled “Pulp Moulding Machines Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029”, rising demand for moulded fiber packaging from the food & beverages industry is likely to drive the growth of the pulp moulding machines market during the forecast period. The global pulp moulding machines market in 2019 is estimated to be valued at ~ US$ 650 Mn, and is projected to grow at a CAGR of ~ 4% during the forecast period.
Key Factors Shaping the Pulp Moulding Machines Market
Adoption of Sustainable Packaging by QSR & CPG Companies
The vigorous growth of the food industry is, in turn, driving the growth of allied sub-sectors including the foodservice packaging sector. The increasing number of quick-service restaurants (QSR) across the globe has been fueling the demand for foodservice disposables. Such restaurants are minimizing efforts to clean and maintain the used containers.
Hence, the need for single-use, low-cost disposable containers have gained traction over the years. Most of the foodservice outlets in Western European countries prefer moulded fiber pulp packaging solutions. The packaging manufacturers are looking forward to differentiating themselves in the marketplace through new product development.
The use of sustainable material in packaging product is one of the key efforts to stand out in the competition. In July 2018, Be Green Packaging LLC, a moulded fiber packaging manufacturer, developed moulded fiber trays for consumer packaged goods (CPG) packaging.
Intense Competition between Chinese & European Players in Terms of Price & Quality Offerings
Different companies from the Chinese market are offering pulp moulding machines at competitive prices, which is beneficial for East & South Asian end users, particularly SMEs. This is expected to affect the growth of the European pulp moulding machines market in the coming years.
Irrespective of the positive outlook, increasing number of players in the pulp moulding machines market and instability of pulp moulding machines component prices are leading to a decrease in the profitability margins. In addition, the entry of new players, especially in the Asia Pacific region, an increase in the manufacturing capability of existing players, and the demand for a higher margin by distributors continue to affect the profitability margin.
Thus, pulp moulding machines manufacturers will need to establish strong relationships with customers & distributors to strategically position their products in terms of price, to hold up in the competition.
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Pulp Moulding Machines Market: Regional Analysis
Increasing demand for eco-friendly packaging, significant growth of the foodservice industry, and rising disposable incomes in the East & South Asia regions are key factors for the pulp moulding machines market growth. China is expected to be dominant in terms of pulp moulding machines demand and production. The Asian countries opt for sustainable materials in consumer goods and food packaging, which is a critical factor for the growth of the pulp moulding machines market.
Although Europe remains in the vanguard in terms of market share, it is projected to witness a sluggish growth in the pulp moulding machines market during the forecast period. The continuous expansion of the foodservice industry using eco-friendly packaging solutions is the key factor that is expected to drive the growth of the pulp moulding machines market during the forecast period.
Germany is expected to dominate the European pulp moulding machines market during the forecast period by accounting for relatively large market share in the region.
Pulp Moulding Machines Market: Trends
The pulp moulding machines manufacturers are improvising their product and service offerings by continuous development, expansion, and advance customer services. Some examples of initiatives taken by key players to enhance the market position are as follows:
- In November 2018, the Huhtamäki Oyj invested ~ US$ 8 million to expand its fiber packaging business in the Russia and Nordics market.
- Brodrene Hartmann A/S is focusing on the up-gradation of equipment/machinery along with service enhancement to gain new consumer-based. The company is mainly offering troubleshooting and maintenance services to its client.
- ZH Moulded Pulp Co., Ltd. is focusing on partnerships with exporters, importers, suppliers, and traders of pulp machinery to strengthen its distribution network across the globe.
- HGHY Pulp Molding Pack Co., Ltd. is providing all range of services to its clients such as installation, maintenance, and after-sales services.
Pulp Moulding Machines: Structure Analysis
The global pulp moulding machines market is characterized by the presence of several established players, which accounts for considerable market share. With high-quality machine manufacturing & sales growth, the European companies are estimated to be the tier 1 players in the global market.
Tier 1 players are characterized by high segmental revenue and adoption of strategies such as expansion & product development. Tier 2 players are marked by overseas presence with specific pulp moulding machines portfolio. Tier 3 players include the majority of the company’s presence limited to the domestic market only.
- Less than 1,500 units/hr.
- 1,501-3,500 units/hr.
- 3,501-5,500 units/hr.
- Above 5,500 units/hr.
- Boxes & Containers
- End Caps
- Cups & Bowls
- Drink Carriers
- Food & Beverages
- Egg Packaging
- Wine Packaging
- Fruit Packaging
- Electrical & Electronics
- Consumer Goods
- Cosmetic & Personal Care
- North America
- Latin America
- South Asia
- East Asia