Molded Pulp Packaging Market Size | Share Report 2022-2028

According to Precision Business Insights (PBI) latest report The global molded pulp packaging market size was valued at USD 4,234.7 billion in 2021 and is poised to grow at a significant CAGR of 4.5% during the forecast period 2022-28. Fiber Type (Recycled Fiber, Virgin Fiber), Product Type (Trays, Bowls and Cups, Clamshells, Plates), End User (Food Packaging, Food Service, Electronics, Healthcare), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) Forecast to 2028. One of the primary factors driving the market is the growing demand for sustainable packaging solutions for food and drinks. Furthermore, expanding the packaging sector is expected to boost market growth.

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Trays Dominate the Molded Pulp Packaging Market
Trays segment accounted significant market share and it is expected to grow with a considerable CAGR from 2022-2028. Trays segment is expected to grow drastically due to the increase in consumption of eggs and fruits soon coupled with its qualities such as low weight and recyclability. The multiple benefits of moulded pulp packaging for diverse applications in terms of sustainability, recyclability, and sturdiness are widely recognized in the food service business. Also, increasing need for eco-friendly, recyclable, and sustainable trays and bowls is driving the market to grow at the fastest CAGR over the forecast period.

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Asia Pacific leads Molded Pulp Packaging Market
In the Asia Pacific, the melded pulp packaging market holds substantial market share in 2021 and the market expected to grow at a significant CAGR during the forecast period. Over the past few years, the region has seen significant growth in the disposable foodservice sector, which requires virgin pulp for the production of packaging products like trays, cups, and clamshells that are in close contact with food items. The growth of the nation's food and beverage industry is raising serious environmental issues related to single-use plastic packaging. As a result, there is a demand for environmentally friendly packaging options such molded pulp packets.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players

Molded Pulp Packaging Market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region.

In Aprl 2022, Sabert Corporation expanded its business by opening a foot distribution facility in the greater Chicago area. The new location also consolidates the point of distribution for three Sabert production facilities.

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Key players' profiles in the global Molded Pulp Packaging market report are Maspack Ltd, Enviropak Corporation, Brodrene Hartmann AS, Huhtamaki Oyj, Primeware Solutions (Amercare Royal), UFP Technologies Inc., Henry Molded Products Inc., Keiding Inc., Sabert Corporation, Pacific Pulp Molding Inc., Protopak Engineering Corporation.

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