The global molded fiber pulp packaging Market is estimated to be valued at US$ 9619.61 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Molded fiber pulp is a packaging material made from recycled newsprint, ONP and other fibers. It is an eco-friendly packaging solution that provides cushioning and protection to fragile products during storage and shipping. Some key advantages of molded fiber pulp packaging include that it is lightweight, moisture resistant and recyclable.
Market key trends:
One of the key trends in the molded fiber pulp packaging market is the increasing demand for sustainable and eco-friendly packaging materials. With the rising environmental concerns, many companies are opting for packaging solutions that have minimal environmental impact and can be recycled easily. Molded fiber provides a renewable and biodegradable packaging alternative to plastics. It is manufactured using recycled waste paper and fibers, bringing down the carbon footprint of the packaged products. Moreover, molded pulp offers good cushioning and is affordable, which is driving its use in packaging various industrial and consumer goods globally.
SWOT Analysis
Strength: Molded fiber pulp packaging is cost-effective and eco-friendly. It uses recycled fibers making it sustainable packaging solution.
Weakness: It has low barrier properties and requires post-processing for moisture and grease resistance. Limited graphic capabilities hamper creative design.
Opportunity: Increasing regulations to ban single-use plastics create demand for sustainable alternatives. Food packaging is a major application area driving growth.
Threats: Stiff competition from rigid plastics and preference for virgin materials over recycled fibers. Volatility in fiber prices impacts overall packaging cost.
Key Takeaways
The Global Molded Fiber Pulp Packaging Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing preference for sustainable packaging from food & beverage industry.
Regional analysis
North America dominated the global market in 2022 due to stringent regulations against plastic usage. Asia Pacific is expected to grow at fastest pace during the forecast period supported by expanding food processing sector in China and India.
Key players
Key players operating in the Molded Fiber Pulp Packaging are UFP Technologies, Inc., ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC, Keiding, Inc., FiberCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd. and Guangzhou NANYA Pulp Molding Equipment Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
