Molded Pulp Packaging Market Forecast To Register CAGR Of Over 6.1% To 2028

The global molded pulp packaging market size was valued at USD 3,811.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028.

Molded Pulp Packaging Industry Overview

The global molded pulp packaging market size is expected to reach USD 6.1 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% over the forecast period. Growing demand for eco-friendly sustainable packaging from the end-user segments owing to growing awareness regarding the adverse effects of plastic pollution is expected to be the key driver for the market.

Molded Pulp Packaging Market Segmentation

Grand View Research has segmented the global molded pulp packaging market on the basis of source, molded type, product, application, and region:

Based on the Source Insights, the market is segmented into Wood Pulp, Non-wood Pulp.

  • The wood pulp segment accounted for the highest revenue share of over 86% in the year 2020 owing to the easy availability and low cost of these sources. The declining pulp prices in most of the regions have also been boosting the segment growth over the past few years.
  • The non-wood source segment is expected to witness the fastest CAGR from 2021 to 2028. Non-wood pulp, which is manufactured with the help of non-woody cellulosic plant materials, such as grasses, cereal straw, sugar cane bagasse and, reeds, has also been gaining popularity.
  • Several non-conventional raw materials are being explored at the experimentation stage, which includes natural latex and coconut husk. Companies are utilizing bamboo as a virgin material for pulp manufacturing as bamboo plants can grow easily in almost all regions.

Based on the Product Insights, the market is segmented into Trays, End Caps, Bowls Cups, Clamshells, Plates, Others.

  • The trays segment accounted for the highest revenue share of over 41% in 2020. Trays are mainly used in the food and foodservice industries due to the high convenience, shock absorption, and stability offered by these products. In the food industry, molded pulp trays are largely used for primary egg packaging in retail distribution channels.
  • End caps are a key product in the protective packaging market as they are cost-effective and biodegradable. Although several substitutes, such as foam end caps, are available in the market, raising concerns regarding the non-degradable properties of foam materials is boosting the demand for end caps. 
  • The demand for molded pulp clamshells is also on the rise. Although plastic offers high moisture barrier properties in contrast to molded pulp packaging, the declining use of single-use plastics due to stringent regulations is likely to support the segment growth.

Based on the Application Insights, the market is segmented into Food Packaging, Food Service, Electronics, Healthcare, Industrial, Others.

  •  

Based on the Type Insights, the market is segmented into Thick Wall, Transfer, Thermoformed, Processed.

  • The transfer molded type segment accounted for the highest revenue share of over 57% in 2020. Transfer molded pulp packaging is witnessing high demand in food packaging applications as a result of its advantages, such as hygroscopic properties, and air permeability, which help extend the shelf life of food and beverage products.
  • The thick wall segment is expected to register a significant CAGR of more than 5 % over the forecast period. This packaging holds a smooth surface on one side and an unfinished surface on the other side and is commonly used as end caps or trays for packaging industrial products.
  • The thermoformed or thin-wall molded type segment is estimated to record the fastest CAGR from 2021 to 2028. The manufacturing process of these products involves heated molds that press the pulp for a smoother finish and better dimensions. These packaging products are commonly used in the foodservice industry for trays, plates, cups, and bowls.
  • The rigidity and smooth finish along with recyclability and sustainability offered by this type of packaging make it a better option than plastic. The processed molded pulp is largely used for clamshell products. 

Molded Pulp Packaging Regional Outlook 

  • North America
  • Europe
  • Asia Pacific
  • Central South America
  • Middle East Africa (MEA)

Key Companies Profile Market Share Insights

The market is highly competitive with the presence of both global and regional companies. Companies offer a wide range of products that are available in a variety of shapes, sizes, and colors. Moreover, they offer custom packaging products to suit customer-specific requirements. The market has also witnessed several new product launches over the last few years.

Some prominent players in the global molded pulp packaging market include

  • Brodrene Hartmann A/S
  • Huhtamako Oyj
  • UFP Technologies, Inc.
  • Thermoform Engineered Quality LLC
  • Genpak, LLC
  • Eco-Products, Inc.
  • Fabri-Kal
  • Sabert Corp.

Order a free sample PDF of the Molded Pulp Packaging Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

DOWNLOAD NOW 

WATCH NOW

PLAY GAME HERE 


Rahul Nikade

142 Blog posts

Comments