Molded Pulp Packaging Market Size
Molded Pulp Packaging Market size valued at USD 3 billion in 2022 and is slated to showcase over 8% CAGR from 2023 to 2032. Increasing agricultural yield will fuel the global industry forecasts.
The need for molded pulp packaging may be encouraged by the significant worldwide increase in agricultural output brought about by growing technological achievements and the acceptance of precision farming methods. Indviduals have lately been more conscious of the environmental consequences of enormous amounts of plastic garbage, especially single-use plastic waste. A deliberate movement pushing individuals to cut their plastic intake has resulted in demand for biodegradable goods produced from left-over components from other goods rising.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Molded Pulp Packaging Market Size in 2022 | USD 3.4 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 8.2% |
| 2032 Value Projection | USD 7.3 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 523 |
| Segments covered | Product, Type, Industry |
| Growth Drivers |
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| Pitfalls & Challenges |
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This has caused a huge development in the agriculture industry as well as a consequent increase in trade worldwide and shipping methods. The most recent IBEF projections show that, with a 14% YoY increase, agricultural and processed food product exports in India totaled USD 5,987 million in Q1, FY 2022-23. On the other hand, the availability of reasonably priced and energy-efficient packaging substitutes on the market can limit the industry revenue sources. Novel production techniques like fast prototyping will help the molded pulp packaging sector become more strong.
Molded Pulp Packaging Market Analysis
Consider yourself and your family having a picnic. You see something unusual about the box as you grab for your preferred summer treat. Your wonderful fruit salad is snuggled securely in a molded pulp tray instead of the standard plastic container. Rising stars in the packaging scene, molded pulp trays have good cause. They project to be a multi-billion dollar sector by 2032. These trays serve use beyond only fruit and vegetable storage. They also work great for shipping those hot, steaming fast food beverages. And even delicate wine bottles and weak medications can travel safely in these trays as they are so robust and flexible. Actually, molded pulp trays are becoming to be the preferred option for egg packaging in supermarket stores. When warm, they don't distort or leak and are more robust than plastic trays. Furthermore environmentally friendly than foam and plastic trays, which cannot sustain high temperatures and could endanger safety when heated, are they This is why you are finding increasingly shaped pulp trays in ordinary ovens, multiple ovens, and even microwave ovens.
In terms of type, rotary molding pulp segment is expected to see over 8% CAGR till 2032. High output and much less energy consumption are provided by rotary pulp molding than by its equivalents. These characteristics drive segment benefits by means of lower manufacturing costs and higher production rates. The molded pulp packaging business will benefit from the increasing consumption of eggs and related food products across several countries as well as the consequent expansion in chicken production.
Market for molded pulp packaging from the appliance industry reached USD 70 million in 2022. Rising income levels and a strong economic environment will help to explain the increased sales of consumer electronics and smart household appliances such mixers, refrigerators, dishwashers, coffee makers, microwaves, vacuum cleaners, etc. Widely used in electronics packaging applications, large EPC replacement molded pulp components help to shield appliances from impact during shipment and transportation.
By 2032, Asia Pacific molded pulp packaging market is estimated to show increases of about 8.5%. Regional demand is influenced by the dramatic population increase in nations like China and India as well as by the growing middle class population. The area is known for its good economic and agricultural situation, which drives growing demand for food items.
Molded Pulp Packaging Market Share
Notable players in the molded pulp packaging market are
- Molpack Corporation Ltd
- YFY Jupiter
- Pacific Pulp Molding
- Best Plus Pulp Co
- Enviropak
- Hartmann
- Smurfit Kappa
- Western Pulp Products Company
- Alta Global Inc
- CMPC
- Huhtamaki Ltd
- Stora Enso
- DS Smith
- Sonoco Products Company.
Companies in the competitive landscape have been implementing strategic moves such as partnerships, collaborations, mergers & collaborations, etc., to expand their global presence and make the most of available growth opportunities.
Impact of COVID-19 pandemic
The sudden onset of the COVID-19 pandemic had an adverse impact on the global market. Several government actions, taken in response to the crisis, including stringent lockdowns, resulted in industry closures and disrupted supply chain operations across several end-use verticals. The escalating stockpiling and panic buying limited the sales of perishable foodstuffs, severely impacting market revenues. Moreover, later, the implementation of necessary growth measures and initiatives by the governments and the pandemic restrictions nearly waived off across several economies offered an anticipated boost to the industry and will continue to do so in the coming years as well.
This market research report on molded pulp packaging includes in-depth coverage of the industry with estimates & forecast in terms of Kilo Tons and USD Million from 2018 to 2032 for the following segments
By Product
- Trays
- Cups
- Clamshells
- Plates
- Splitters
- Others
By Type
- Rotary Molding
- Fiber Thermoforming/Wet Press
- Industrial Molding Pulp/Dry Press
By Industry
- Eggs
- Agriculture
- Food & Food Services
- Electronics
- Appliances
- Other Industrial
- Others
The above information is provided on a regional and country basis for the following
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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