by The molded fiber pulp packaging is widely used in food packaging especially for fruits and vegetables. It provides protective cushioning and insulation to protect products from damage during transportation and storage. Molded fiber pulp is produced from waste paper or sugarcane bagasse through a molding process that forms pulp into specific sizes and shapes. It is one of the most sustainable packaging options as it is biodegradable and can be recycled. The packaging is lightweight and provides structure yet is gentle on products. It saves storage and transportation costs as compared to traditional packaging due to its shock absorption capability.
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 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The increasing focus on green packaging solutions for food and various other applications is driving the molded fiber pulp packaging market growth. More consumers are demanding sustainable and eco-friendly packaging options to reduce waste. Companies in various end use industries are actively innovating their packaging portfolio to include compostable, recyclable and bio-based packaging materials. Molded fiber pulp made from recycled content is seeing higher demand. Manufacturers are focusing on development of molded fiber pulp packaging with enhanced protective properties yet lower weight. Advancements in molding technologies allow design of complex shapes and sizes of molded fiber products for versatile applications.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. The requirement of high capital expenditure and technical expertise creates entry barriers for new players.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of numerous players and easy availability of substitutes. Buyers can easily switch between the alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have dominance over a few players. Suppliers can influence prices to a certain extent.
Threat of new substitutes: The threat of substitutes is high as paper, plastic, and biodegradable packaging are used as alternatives in certain applications.
Competitive rivalry: The competition is fierce due to many established players operating in the market. Price wars and new product launches characterize the competitive environment.
Key Takeaways
The Global Molded Fiber Pulp Packaging Market Size is expected to witness high growth. 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 14% over the forecast period 2023 to 2030.
North America dominates the market and is expected to remain the highest revenue generating region during the forecast period. The growth can be attributed to the strong presence of key players and growing demand for sustainable packaging solutions from various end-use industries. Asia Pacific is anticipated to be the fastest-growing region owing to rapid industrialization, rising disposable income, and growth of end-use industries such as food and beverage.
Key players: Key players operating in the Molded Fiber Pulp Packaging are UFP Technologies, Huhtamaki, Henry Molded Products Inc., Pacific Pulp Molding LLC, EnviroPAK Corporation, ProtoPak Engineering Corporation and Brook Ecocomposite Solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
