Molded fiber is a paper-based packaging material that uses 100% recyclable materials such as newspaper, cardboard, water, and other natural fibers. It is also known as molded pulp as it is used to formed shape, it is created with round corners and complex three-dimensional shapes. For example, egg cartons is used as protective packaging. Molded fiber pulp packaging is also used for packaging of electronics, automotive parts, household goods, and medical products. Molded paper pulp easily gets decomposed in the soil.
Global molded fiber pulp packaging market was valued at US$ 8,529.2 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.2% during the forecast period (2022 to 2030).
Drivers
Increasing launches of wood-fiber based packaging solution, coupled with rising demand for molded fiber pulp packaging as a protective packaging such as nursery pots, floral containers, food trays, and beverage containers are some of the major factors that are expected to propel growth of the market over the forecast period. Producers of fast-moving consumer goods have increased their focus on offering hassle free, green packaging solutions, while providing more value to the end users. Technological advancements have led to superior techniques for printing and coating on molded fiber pulp products.
Growing demand for molded fiber pulp packaging as a protective packaging such as nursery pots, floral containers, food trays, and beverage containers are projected to foster market growth. Moreover, rising demand from the transportation industry for environmental friendly solution with excellent vibration dampening and cushioning properties is projected to propel the market growth over the forecast period.
Among region, Europe held a dominant position in market in 2021, and is expected to maintain its dominance throughout the forecast period. The rise in consumption of food & beverage items is expected to rise, owing to the changing consumer trends on eating healthy foods, which has positively impacted the molded fiber pulp packaging market. Moreover, the European Commission is engaged in promoting the reuse of packaging waste. According to European Directive 94/62/EC for Packaging & Packaging Waste, the products with EU composability certificate EN13432 are regarded as compostable packaging products. Therefore, sustainability development has also pulled the demand of molded fiber pulp packaging in several provinces of Europe
Figure 1. Global Molded Fiber Pulp Packaging Market Value Share (%), By Region, 2021
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Market Restraints
Availability of substitutes such as expanded polystyrene (EPS) and other plastics is one of the major factors that is expected to hamper growth of the market over the forecast period. Intense competition and excessive use of water and electricity supply are projected to hinder the market growth over the forecast period. Moreover, the risk associated with the raw materials such as poor management of raw materials and sourcing can lead to a loss. Moreover, the cost of raw materials is another major risk factor that can hamper the market growth. Furthermore, fluctuation in demand and supply can also affect the cost of raw materials. Therefore, such factors are expected to restrict the market growth.
Molded Fiber Pulp Packaging Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 8,529.2 Mn |
Historical Data for: | 2017 to 2021 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 6.2% | Forecast Period: | 2022-2030 |
Geographies covered: |
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Segments covered: |
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Companies covered: |
UFP Technologies, Inc., ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC, Keiding, Inc., FiberCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd. and Guangzhou NANYA Pulp Molding Equipment Co., Ltd. |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Trends
The advent of advanced technology for molded fiber such as advanced molded machinery such as 3D printing tools and manufacturing tools has been launched to enhance the production efficiency and packaging quality. Moreover, new fibers such as sugarcane, palm, and bamboo fibers, have been launched in the molded fiber manufacturing market. Therefore, with the advent of advancements in technology, manufacturers are focusing on introducing advanced and protective packaging solution, this is expected to foster the market growth
Figure 2. Global Molded Fiber Pulp Packaging Market Value Share (%), By Molded Pulp Type, 2021
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On the basis of molded pulp type, Transfer molded pulp packaging is witnessing high demand in food packaging applications as a result of its advantages, such as hygroscopic properties, and air permeability, which help in extending the shelf life of food and beverage products. In addition, molded pulp packaging provides protection from the shocks, which limits breakage or damage to the products, such as eggs and wine bottles.
Recent Developments
Competitive Section
Major players operating in the global molded fiber pulp packaging market include UFP Technologies, Inc., ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC, Keiding, Inc., FiberCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd. and Guangzhou NANYA Pulp Molding Equipment Co., Ltd.
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