Molded Pulp Packaging Market is Forecasted to Reach US$ 8.13 Billion in 2028, Says Stratview Research

The global molded pulp packaging market is projected to witness a growth rate of 7.17% annually from 2023 to 2028 with an anticipated size of US$ 8.13 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global molded pulp packaging market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 8.13 billion
Growth (CAGR): 7.17% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Molded Pulp Packaging Market:

The global molded pulp packaging market is segmented based on product type, type, industry type, and region.

Based on product type - The market is segmented as trays, cups, clamshells, plates, splitters, and others. The trays segment held more than 35% market share in 2022 and is expected to dominate the market during the assessment period. The growth of the segment can be attributed to its use as base materials in corrugated shipping boxes to prevent fruits from bruising and catching mold during long-haul and short-haul shipments. Furthermore, high growth is owing to its increasing demand in agro and food & foodservice industries due to its convenient use and environment-friendly nature.

Based on type - The market is segmented as rotary molding pulp, fiber thermoforming/wet press, and industrial molding pulp/dry press. Rotary molded pulp possesses the highest share of the market as it registered over 55% share in 2022 and is likely to account for the highest CAGR of 5.3% during the assessment period. This unprecedented growth can be attributed to the unique and wider benefits attached to the employed rotary molding process. It offers high molding productivity, consumes less energy with less manufacturing cost, easy interchangeability of mold tooling, and faster setting time.

To know the most attractive segments, click here:
https://stratviewresearch.com/2018/Molded-Pulp-Packaging-Market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is estimated to be the leading region in the market during the forecast period. This growth outlook is majorly attributed to the following-

• Strong presence of other end-user industries such as agriculture, food & food services, and electronics in the region.
• Consumers in the U.S. and Canada have developed a habit of mostly eating out. North America captured a major share of the global outdoor eating market; thus, the food & food services industry ranks as the second-largest consumer of molded pulp in the region.
• Europe and Asia-Pacific also offer significant growth opportunities during the assessment period.

Molded Pulp Packaging Market Drivers:

Some of the key drivers listed in the report are given below.

• Rapidly growing poultry industry, positive regulatory environment, strong product demand from the food & beverages industry, and increasing agricultural output.
• Molded pulp packaging provides a significant opportunity for corporations to achieve their sustainability objectives while also achieving cost savings. The utilization of inexpensive and dependable raw materials helps maintain the low cost of molded pulp packing.
• Stringent government regulations on the use of plastic.
• Increasing demand for sustainable and eco-friendly packaging solutions.
• Growing demand for customized packaging solutions.
• Improved manufacturing processes and technologies.

Top Companies in the Molded Pulp Packaging Market:

Stratview Research has identified the following companies as the top market players.
• Austin Foam Plastics, Inc. (AFP)
• Best Plus Pulp Co., Ltd.
• Alta Global, Inc.
• CMPC
• DS Smith
• Enviropak
• Huhtamaki Group
• Pacific Pulp Molding, Inc.
• Smurfit Kappa Group
• Sonoco Products Company.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Molded Pulp Packaging Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Pulp Molding Machines Market: https://stratviewresearch.com/1104/pulp-molding-machines-market.html

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This release was published on openPR.