Global Molded Pulp Packaging Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights
As per research, the molded pulp market size was estimated at around US$ 4.9 billion in 2022, growing at a CAGR of nearly 7.9% during 2022-2030. The market is projected to reach approximately US$ 9.8 billion by 2030.
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The Molded Pulp Packaging Market: Overview
Molded Pulp Packaging products are manufactured from biodegradable materials and are capable of absorbing wing-to-cushion shock properties. This ensures the protection of the product, which includes handling, transportation, as well as storage. These packaging products have aeration properties they have a microporous structure that helps in absorbing moisture attributed to their chemical structure.
The Molded Pulp Packaging Market: Growth Drivers
• Consumer's preference for eco-friendly packaging
Present-day consumers are well aware of the benefits of eco-friendly packaging and the growing significance of sustainability. Since Molded Pulp Packaging is bio-degradable and also it can be recycled again, it is considered an attractive option to suppliers. Also, the demand for packaging materials free from plastics, Styrofoam, and other petroleum-based materials are boosting the growth of Molded Pulp Packaging materials.
• Increased egg consumption
The molded pulp packaging molds are very commonly used for egg trays and their packaging. The consumption of eggs is constantly increasing worldwide. For instance, as per PrintWeek, the global consumption of eggs is expected to reach 10.3 per kg by 2030.
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The growing egg consumption would directly result in increased demand for molded pulp packaging from egg suppliers. Further, major players offering egg packaging solutions are focusing on providing organic packaging solutions, such as the introduction of new products or expansion of their manufacturing capabilities. Recently, Huhtamaki developed new egg trays at its manufacturing plant in Brazil.
The Molded Pulp Packaging Market: Key Insights
• As per the analysis shared by our research analyst, the molded pulp packaging market is estimated to grow annually at a CAGR of around 7.9% over the forecast period (2022-2030).
• In terms of revenue, the molded pulp packaging market size was valued at around USD 4.9 billion in 2021 and is projected to reach USD 9.8 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on product type segmentation, the tray segment was estimated to show maximum market share in the year 2021.
• Based on molded pulp type segmentation, the rotary molding segment was the leading revenue-generating category in 2021.
• Based on end-use segmentation, the eggs segment was the leading revenue-generating category in 2021.
• On the basis of region, the Asia Pacific region was the leading revenue generator in 2021.
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The Molded Pulp Packaging Market: Regional Landscape
In 2021, the Asia Pacific region dominated the molded pulp packaging market. The growth is driven by the high presence of numerous molded pulp manufacturers in economies, including China, India, Bangladesh, and Indonesia. China is one of the key importers of pulp from other countries, Moreover, with the growing population in the region, the demand for food packaging, FMCG, food service, and pharmaceuticals, among others is witnessing high growth.
Several governments in Asia Pacific countries also taking initiatives such as the Single-use Plastic ban (India). The above-mentioned factors are expected to accelerate the demand for molded pulp packaging in the region.
The Molded Pulp Packaging Market: Prominent Players
UFP Technologies Inc.
Best Plus Pulp Co.
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The Molded Pulp Packaging Market: Segments
By Product Type
By Molded Pulp Type
Fiber Thermoforming/Wet Press
Industrial Molding Pulp/Dry Press
By End Use
Food & Food Services
The Molded Pulp Packaging Market: Geography
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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