Molded Pulp Packaging Market Size, Share & Growth (2019 - 2025)
The market size for Molded Pulp Packaging Market is expected to value as USD 3.5 billion in 2019 and it is expected to reach USD 4.4 billion by 2025, growing at a CAGR of 4.4% during the forecast period.
Molded pulp packaging materials can be recycled easily after use where the materials are made up of recycled paperboard and/or newsprint. These are sustainable for many applications due to its lightweight and useful life-cycle. It is less expensive when compared with expanded polystyrene, vacuumed formed PET and PVC. Also, in food and beverage industries, molded pulp packaging products are used as serving trays, beverage carriers, plates and bowls among others.
Increasing prevalence for the use of recyclable materials in every application so as to follow environment safety measures is key driving factor for the market to grow. Rise in the demand for effective packaging techniques in order to increase the productivity in the food and beverage industry is lavishing the demand of the market additionally. Also, molded pulp packaging applications has spread into medical sectors due to its sustainable packaging is escalating the growth rate of this market.
However, fluctuations in the availability of raw materials is certainly a restraining factor for the market growth. Rapid changes in economic strategies may also show a negative impact on the growth of the market. Lack of skilled labor in manufacturing desired products innovatively is remained a big challenging attribute for the market developers.
Rise in the disposable income in urban areas is likely to outshine the growth of the molded pulp packaging market. Stringent rules and regulations by the government in order to lower greenhouse effects are anticipated to present growth opportunities for the market. The growing utilization of protective packaging in the electronics sector to produce quality products is gearing up the growth of the market.
This report on Global Molded Pulp Packaging has been segmented and sub-segmented into the following categories:
Molded Pulp Packaging Market – By Source Type
On the basis of source type, the wood source type is witnessed in having the highest shares of the market whereas the non-wood segment is to grow at a higher rate in the coming years. Rise in the awareness over the utilization of molded pulp packaging in various applications is ascribed to bolster the demand of the market.
Molded Pulp Packaging Market – By Molded Type
- Thick Wall
On the basis of molded type, the Transfer molded type is leading with the highest shares of the market. Increasing demand to have convenient and effective packaging for the products in many end-user industries so as to reduce damages is boosting up the growth of this market.
Molded Pulp Packaging Market – By Product Type
On the basis of product type, the Bowls category is holding prominent shares of the market. The growing scale of food and beverage industries is straight elevating the demand of the market.
Molded Pulp Packaging Market – By Region
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Regionally, North America and Europe are accounted for in leading largest shares of the market by owing to the acceptance of advanced technologies and also proper utilization of recyclable materials for manufacturing packaging products. The market growth in the Asia Pacific is growing steadily from recent years and is also to register the highest CAGR in the review period. Increasing population and growing urbanization in many countries are primary factors magnifying the demand of the market. The Middle East and Africa are projected to have inclined growth rate in near future.
Some of the key players in the molded pulp packaging market are:
- Genpak LLC (US)
- Eco-Products (US)
- Pro-Pac Packaging (Australia)
- PrimeWare-by PrimeLink Solutions (US)
- Fabri-Kal (US)
- Henry Molded Products (US)
- Brdrene Hartmann A/S (Denmark)
- UFP Technologies (US)
- Thermoformed engineered Quality (TEQ) LLC (US)
- EnviroPAK Corporation (US)
- Pacific Pulp Molded (US)
- Cellulose de la Loire (France)
- Sabert Corporation (US)
- Protopak Engineering Corporation (US)