Molded Fiber Pulp Packaging Market to Rise at 5.1% CAGR, Driven by Demand for Biodegradable Packaging Formats

Molded Fiber Pulp Packaging Market Snapshot
Global demand in the molded fiber pulp packaging market is estimated to register year-on-year (YoY) growth of 4.4% in 2021, reaching a total volume of 3 Mn Tons. The global sales of molded fiber pulp packaging are expected to grow by 4.8% in 2021 surpassing US$ 7.7 Bn. The overall ten-year compound annual growth rate (CAGR) remains positive at 5.1%.

In 2021, the U.S. market is expected to register 4.2% year on year growth after a period of sluggish sales on account of COVID-19 induced restrictions. Across North America, the total sales of molded fiber pulp packaging will reach US$ 1.3 Bn by the end of the year.

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“The global molded fiber pulp packaging market is driven by surge in demand for sustainable packaging solutions with protective packaging characteristics. These solutions also are considered ideal for logistics and transport,” says an FMI analyst.

Stringent Regulations Will Support Molded Fiber Pulp Packaging Sales

As concerns regarding packaging waste continue to soar, regulatory bodies have implemented stringent measures to curb the use of single-use plastic. This has proven to be a boon for the molded fiber packaging industry.

Manufacturers are discouraging the use of foam (EPS) in a variety of food and food service packaging services. Nearly a dozen U.S. cities including Washington DC, Seattle, and New York, have banned or taxed the use of polystyrene single-use products.

Thus, the molded pulp packaging industry is projected to have robust growth in these markets as regulatory bodies continue to discourage single-use plastics.

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Who is Winning?

Leading players in the molded fiber pulp packaging market are largely focused on production development and capacity expansion strategies. Key players contribute approximately 20-30% of the global market.

Top players include but are not limited to Huhtamaki Oyj., Pactiv LLC, Brodrene Hartmann A/S, Henry Molded Products, Inc., ESCO Technologies Inc., UPF Technologies, Inc., ProtoPak Engineering Corporation and Celluloses De La Loire are the top players operating in the Molded Fiber Pulp Packaging market..

What is the Impact of the COVID-19 Crisis on the Molded Fiber Pulp Packaging Market?
Due to the outbreak of the COVID-19 virus, most countries were forced to set restrictions on all types of manufacturing and supply chains. Only essential commodities such as food and beverages and pharmaceutical supplies were allowed to be manufactured and supplied.

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Demand for molded fiber pulp packaging grew in the food and beverage and healthcare industry. Increasing usage of molded fiber pulp packaging as a protective packaging solution prevents product tampering.

Due to these factors, the demand for molded fiber pulp packaging was not impacted heavily and that resulted in the growth of the overall molded fiber pulp packaging market.

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.
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United Arab Emirates
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This release was published on openPR.