Global Molded Fiber Pulp Packaging market is estimated to be valued at US$ 8,529.8 Million in 2021, by Molded Pulp Type (Fuming, Thick Wall, Transfer Molded, Thermoformed Fiber, Processed Pulp), by Product Type (Tray, Clamshell & Container, Boxes, End Caps, Others (Cups, Bowls)), by End-use (Consumer Durables & Electronics Goods (CDEG) Packaging (Tube Light & Bulbs, Mobile Phones, Others (DVD's, Modems, TV)), Food & Beverage (F&B) Packaging (Egg Packaging, Wine Packaging, Fruit Packaging, Others (Vegetables, Frozen food)), Cosmetic & Beauty (CBP) products Packaging, Healthcare product Packaging, Automotive parts Packaging, Transportation & Logistics, Others (candles, flower packaging)), and by Region (North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific (excl. Japan), Middle East & Africa), published by Coherent Market Insights.
Global Molded Fiber Pulp Packaging market was valued at US$ 8,529.8 Million in 2021 and is expected to register a CAGR of 6.2% over the forecast period (2022–2030). Europe is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Browse 50 market data tables* and 40 figures* on "Global Molded Fiber Pulp Packaging Market” - Forecast to 2030.
Key Trends and Analysis of the Global Molded Fiber Pulp Packaging Market:
- Among the product type, Tray type packaging holds the significant market share in the global molded fiber pulp packaging market. The tray packaging segment is driven by increasing use of fiber pulp trays in the egg packaging industry. Egg trays are protective packaging and are made using recycled newspapers. Molded fiber trays offer good air permeability and hygroscopic ability, which play an important role in egg packaging and storage.
Key Takeaways of the Global Molded Fiber Pulp Packaging Market:
- Growing demand for molded fiber pulp packaging from the automotive industry for the packaging of vehicle parts, panels, gears, headlights, wheels, etc. is expected to drive the market growth over the forecast period. A rising industrial application such as packaging of industrial products, plumbing, tools, etc. is another major factor expected to augment the market growth.
- Asia Pacific is projected to be the third largest and fastest growing market for molded fiber pulp packaging over the forecast period. This is attributed to the presence of an increasing number of molded pulp packaging manufacturing units in countries, such as China, India, Australia, Indonesia, and Bangladesh, in the Asia Pacific. China, being the major importer of pulp from other countries, is witnessing a significant growth of demand for molded fiber pulp packaged products for end users, such as food packaging, food service, FMCG, healthcare, and electronics industries and is further expected to drive the molded fiber pulp packaging market.
- North America region holds the second largest position in terms of market share in the year 2021. Rising demand for pulp paper packaging in the emerging market due to urbanization, increasing consumer awareness, and increasing population is projected to fuel the market growth in this region. Growing application of molded pulp packaging in packaging healthcare products such as bedpans, urine bottles, kidney dishes, bowls, etc. is further projected to foster the market growth over the forecast period. Other applications such as pallets, film roll cradles, and nursery containers are also expected to boost market growth.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global molded fiber pulp packaging market