August 31, 2022 14:45 ET | Source: Custom Market Insights Custom Market Insights
Sandy, United States, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The Custom Market Insights has published a new research report titled “Molded Pulp Packaging Market Size, Share, Growth Analysis Report By Product Type (Trays, Cups, Clamshells, Plates, Splitters, Others), By Molded Pulp Type (Rotary Molding, Fiber Thermoforming/Wet Press, Industrial Molding Pulp/Dry Press), By End Use (Eggs, Agriculture, Food & Food Services, Electronics, Appliances, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand of global Molded Pulp Packaging Market size & share was valued at approximately USD 4.9 Billion in 2021 and is expected to reach a value of around USD 9.8 Billion by 2030, at a compound annual growth rate (CAGR) of about 7.9% during the forecast period 2021 to 2026.”
Molded Pulp Packaging Market: Overview
Molded Pulp Packaging products are manufactured from biodegradable materials and are capable of absorbing wing to cushion shock properties. This ensures the protection of the product, which includes handling, transportation, as well as storage. These packaging products have aeration properties they have a microporous structure that helps in absorbing moisture attributed to their chemical structure.
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The growth in the e-commerce sector as a result of increasing urbanization is expected to create a demand for customized bio-degradable and recyclable packaging solutions. Further, the rising awareness among consumers of environmental issues caused by plastics and other harmful packaging materials has resulted in increased demand for Molded Pulp Packaging products. Additionally, government regulations for bio-degradable and recyclable products are pushing manufacturers in numerous manufacturing industries to opt for Molded Pulp Packaging products.
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The market for molded pulp packaging is segmented into product type, molded pulp type, and end-use. Based on product type, the market for trays is expected to dominate during the forecast period. Moreover, based on molded pulp type, the rotary molded pulp type is anticipated to show noticeable growth owing to its cost-effectiveness. By end use, the eggs segment is expected to dominate attributed to the rising egg consumption globally. For instance, as per the US Department of Agriculture, egg consumption in the country is growing every year, which is expected to create a high demand for molded pulp trays. Based on end-use, the food and food service segment appeared as one of the leading segments in 2021.
Molded pulp packaging solutions are used for the packaging of vegetables and fruits to help regulate fruit respiration along with maintaining ethylene density. However, the electronics application segment is projected to notice a high CAGR during 2022-2030. The growth is due to high product demand for electronic device packaging, such as computers, printers, cellphones, modems, hard drives, and others.
Some recent developments in the market:
April 2022: Sabert Corporation, an innovative food packaging solution provider, launched the Kraft Collection, the company’s new product line. This Collection includes wide-ranging corrugated and paperboard food packaging solutions developed from compostable, recyclable materials, as well as comprise post-consumer fiber content, underlining the company’s long-lasting commitment to sustainability.
Some of the prominent players
Key questions answered in this report:
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In 2021, the Asia Pacific region dominated the molded pulp packaging market. The growth is driven by the high presence of numerous molded pulp manufacturers in economies, including China, India, Bangladesh, and Indonesia. China is one of the key importers of pulp from other countries, Moreover, with the growing population in the region, the demand for food packaging, FMCG, food service, and pharmaceuticals, among others is witnessing high growth. Several governments in Asia Pacific countries also taking initiatives such as the Single-use Plastic ban (India). The above-mentioned factors are expected to accelerate the demand for molded pulp packaging in the region.
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The market for Molded Pulp Packaging is highly fragmented in nature with the presence of several domestic as well as global players. These companies are focused on offering innovative customized packaging products to their customers. Other key strategies adopted by the players include product launches, acquisitions, and partnerships, to expand their geographical reach.
The global molded pulp packaging market is segmented as follows:
On the basis of Geography
The Middle East & Africa
To know about the assumptions considered for the study, download the pdf brochure @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=11523
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