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Molded Fiber Packaging Market Share, Regional Analysis by Key Players | Industry Forecast by 2029
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COVID-19 Impact-
Negative Impact of Covid-19 on Spandex Industry
The COVID-19 epidemic halted production in various industries, including molded fiber packaging, affecting market expansion. Since the pandemic outbreak, the packaging industry has been experiencing slowdowns, which has been primarily caused by the closure of manufacturing operations in key end-use industries.
Segments-
By type, the market for molded fiber packaging is segmented into thick walled, transfer molded, thermoformed fiber, processed pulp. On the basis of end-use, the market is segregated into food & beverages, electronics, personal care, healthcare, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report is a collection of first-hand knowledge, qualitative and quantitative analysis by industry analysts, and input from industry professionals and value chain players-an in-depth overview of current research and clinical advancements in the molded fiber packaging.
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Drivers & Restraints-
Environment-Friendly Packaging to Stimulate Growth
The global molded fiber packaging market growth is expected to grow due to the rising demand in food delivery during the projected period. The comfort with which molded fiber-packed products can be handled and the fact that they are an environmentally safe material has led to their adoption as a plastic substitute, which is expected to drive the worldwide molded fiber pulp packaging market forward. It is a cost-effective option to other types of packaging, which is a major driving force behind the market's growth. This packing form also has the advantage of being more robust in humid and high-temperature environments.
REGIONAL INSIGHTS
Asia Pacific is expected to hold the largest global molded fiber packaging market share during the forecast period. The rising demand for egg tray goods, the production, and consumption of is increasing due to the ease of producing and recycling paper-based products, China is leading the region.
North America is expected to have a sizable share of the market. The growing foodservice enterprises such as restaurants, fast-food outlets, catering services, out-of-home dining due to busy lives, and increasing disposable income are major contributing factors.
Competitive Landscape-
Manufacturers Focus on R&D Investments to Strengthen their Position
The global and regional players present, the industry is fiercely competitive. Companies offer a diverse selection of products in a variety of shapes, sizes, and colors. Furthermore, they provide customized packaging to meet the needs of individual customers. Over the previous few years, the market has seen a number of new product introductions.
Industry Development-
May 2019: Huhtamaki launched the debut of its innovative fiber-based meal trays for Waitrose & Partnership to replace black plastic. The trays are suitable for both microwave and normal ovens. These trays are recyclable and certified for composting at home.
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List of Key Players Profiled in the Global Market for Molded Fiber Packaging:
Henry Molded Products
Robert Cullen Ltd
Brodrene Hartmann A/S
UFP Technologies
Huhtamaki Oyj
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