The moulded pulp packaging market is expected to increase at a CAGR of 4.4 percent from 2019 to 2024, from USD 3.5 billion to USD 4.4 billion. Due to reasons such as the growing middle-class population, increased demand from the food packaging, electronics, and healthcare industries, and consumer desire for easy and sustainable packaging, the moulded pulp packaging market is predicted to grow rapidly. In addition, the market’s growth is influenced by an increase in demand for safe and easy packaging in the electronics sector.
By moulded type, the transfer moulded segment is expected to dominate the moulded pulp packaging market through 2024.
From 2019 to 2024, the transfer moulded segment is expected to account for the greatest share of the moulded pulp packaging market in terms of both value and volume. More use of moulded fibre packaging is being driven by causes such as rising urbanisation, increased awareness of the need for improved packaging, and increased environmental awareness among consumers. Molded fibre packaging not only protects, but it also prevents breakage during transportation throughout the supply chain. Although there has been an increase in the market for recycled packaging in recent years, moulded fibre has typically been associated with goods like box inserts, cup carrying trays, and egg carton packaging that have limited consumer appeal.
During the forecast period, the bowls segment of the moulded pulp packaging market is expected to develop at the fastest rate.
Because of the predicted increase in the consumption of eggs and fruits in the near future, as well as its qualities such as lighter weight and recyclability, the tray category is expected to maintain its dominance during the forecast period. The foodservice industry is well aware of the numerous benefits of moulded pulp packaging in terms of sustainability, recyclability, and sturdiness for diverse applications. During the forecast period, the market for eco-friendly, recyclable, and sustainable bowls is expected to develop at the fastest CAGR in the moulded pulp packaging industry.
During the projection period, the electronics segment will have the largest growth in the moulded pulp packaging market by end-use industry.
Following the trend toward sustainability, packaging designers are using recyclable moulded fibre packaging to create a variety of packaging solutions for a variety of purposes. As a result, more retailers, manufacturers, and consumers are adopting sustainable moulded fibre packaging options in the marketplace. Electronics are typically fragile, necessitating packaging that will protect them from damage during shipping and storage. Molded fibre pulp is commonly used for electronic packaging because it has high shock absorption, compression resistance, heat, and atmospheric resistance capabilities during handling and shipment. Molded pulp packaging provides protective services to electronics goods such as cushioning, void fill, and blocking and bracing, resulting in increased demand for moulded pulp packaging in this area.
Molded fibre packaging expertise also extends to shipping wine bottles and retail packaging for cosmetics, as well as protective packs for jarred candles, computer cushions, and mobile phone inserts. To address the growing demand for eco-friendly packaging with high-quality features, an increased R&D effort with standardised design and testing processes is required. As a result, the electronics segment is predicted to expand the most over the forecast year.
During the forecast period, the Asia Pacific moulded pulp packaging market is expected to grow at the fastest rate.
In terms of value, Asia Pacific is expected to be the fastest-growing region in the moulded pulp packaging market. This might be attributable to the growing number of moulded pulp packaging production facilities in Asia Pacific countries such as China, India, Australia, Indonesia, and Bangladesh. Furthermore, these countries are the world’s leading exporters of packaging materials. Manufacturers seek to build up manufacturing units for the packaging sector in Asia Pacific countries due to low labour costs and the availability of domestically produced raw materials.
Players in the Market
Large players such as Brdrene Hartmann A/S (Denmark), UFP Technologies (US), Thermoformed engineered Quality (TEQ) LLC (US), Genpak LLC (US), and Eco-Products (US) dominate the moulded pulp packaging market (US). Pro-Pac Packaging (Australia), PrimeWare-by PrimeLink Solutions (US), Fabri-Kal (US), Henry Molded Products (US), EnviroPAK Corporation (US), Pacific Pulp Molded (US), Sabert Corporation (US), Protopak Engineering Corporation (US), and Cellulose de la Loire (France) are some of the other players (France) These companies have well-known brands, a diverse product line, and a significant regional presence.
Hutamaki Oyj is a global manufacturer of moulded fibre packaging, food service products, industrial packaging, consumer packaged goods packaging, and trays based in Finland. It has a diverse product line that caters to a wide range of applications in the food packaging and food service disposables industries. Its essential position in the market was secured by its strong global presence and competence in sustainable packaging manufacture. It has a strong presence in 30 countries across six continents, including the United States, Australia, India, Germany, China, and the United Kingdom. The firm is a forerunner in the design and assembly of food packaging.