Molded paper pulp packaging is produced from plant-based products such as pulp, vegetable fibers, or even waste paper. It has anti-bacterial agents, anti-static electricity property, enhancer, and other materials as per the requirement of the majority of the food product. Moreover, most of molded paper pulp packaging also has shock resistance and stackable features. Furthermore, it also has excellent buffer resistance and is flexible with a wide range of materials. It is considered as the best alternative to plastic materials. The global molded paper pulp packaging market was pegged at US$ 7180.0 Mn in terms of value and 2,683,009.2 Thousand Tons in terms of volume in 2018. Drivers Rising demand for biodegradable and eco-friendly packaging solution is projected to propel the market growth of molded fiber pulp packaging. Molded fiber is an ideal packaging material as it is produced from recycled paperboard and newsprint. Moreover, the manufacturing process has no wastage since all the residue and water are reused and recycled. Therefore, molded fiber pulp packaging the solution meets all the customers’ needs and expectations in terms of both packaging and ecological sustainability. Such factors are expected to propel the market growth of molded fiber pulp packaging. Market Opportunities The rising number of partnerships among key players is projected to foster market growth over the forecast period. For instance, in August 2015 Belfast based Delta Packaging and Huhtamaki (Lurgan) partnered to reuse and recycle off-cuts in their production process to reduce McDonald’s’ waste kilometers by up to 20,000 per year. The waste trimmings from the production of McDonald’s carton packaging, made by Delta, are now transported from the company’s headquarters in west Belfast to Huhtamaki (Lurgan). Market Restraints 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 a factor is expected to restrict the market growth. Key Takeaways: Global molded fiber pulp packaging market was valued at US$ 7,180.0 Mn in 2018 and is forecast to reach a value of US$ 11,934.6 by 2025 at a CAGR of 5.8% between 2019 and 2027 due to increasing demand for eco-friendly packaging Tray type packaging dominated the global molded fiber pulp packaging market in 2018, accounting for 32.6% share in terms of volume, followed by clamshell & container and boxes, respectively. Tray packaging segment is driven by increasing use of fiber pulp trays in the egg packaging industry. Food & beverage end-use dominated the global molded fiber pulp packaging market in 2018, accounting for 68.6% share in terms of volume, followed by cosmetics & beauty and auto-parts, respectively. Food & beverage segment is driven by increasing demand form egg packaging and wine packaging industry. Market Trends 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. 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. Also, 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 market growth. Competitive Section:
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., Guangzhou NANYA Pulp Molding Equipment Co., Ltd., Pactiv LLC (Reynolds Group Holdings Ltd.), Spectrum Lithograph, Inc. and Dynamic Fibre Moulding (PTY) Ltd.
Huhtamaki Oyj Key Developments:
Henry Molded Products, Inc. Key Developments:
ProtoPak Engineering Corporation Key Developments:
Segmentation By Molded Pulp Type
By Product Type