DUBAI, U.A.E, July 1, 2020 /PRNewswire/ -- The global molded fiber pulp packaging market is slated to surpass the US$ 8 Bn mark by 2020-end, creating a new value opportunity of US$ 300 Mn annually until 2025.
Molded fiber pulp packaging is now shedding its perception as being only suitable for manufacturing egg-trays to being applicable as an essential raw material across mainstream packaging. The market has experienced a tectonic shift to incorporate food processing, electronics manufacturing and pharmaceutical packaging within its ambit, amongst other sectors.
FMI estimates the global molded fiber pulp market to emerge as a cash cow during the upcoming forecast, generating an opportunity of US$ 2 Bn by the end of 2030. Various innovative applications such as manufacturing molded pump coolers, disposable urinals, Plaster of Paris displays and flower pots have catapulted revenue prospects for the future.
However, impediments are slated to hamper growth prospects for most of 2020 due to the coronavirus pandemic. Since the pandemic's ascent, the packaging industry has registered sluggishness, induced by the cessation of production activities across key end-use industries. Due to falling demand, sales of molded fiber pulps shall register a downturn for a while. Recovery is anticipated starting in the fourth quarter of 2020.
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Key Takeaways from FMI's Report on Molded Fiber Pulp Packaging Market
- Thermoformed fiber and transfer molded pulp segments shall collectively generate US$ 4 Bn across the forecast period
- Clamshell containers shall expand nearly twofold its current value by 2030, expanding at a CAGR of ~6.0% between 2020 and 2030
- Asia-Pacific shall retain market dominance, accounting for 3/10th of the total market share
- Thick walled and processed pulp segments shall register a marginal decline in growth
Molded Fiber Pulp Packaging Market: Key Trends
- Applications in egg-tray manufacturing exhibits southward trend, owing to emerging end-use applications across mainstream and innovative areas
- Molded packaging is an environmentally-friendly alternative to expanded polystyrene (EPS) packaging, and also possesses excellent cushioning and dampening properties
- Consumer Durables and Electronic Goods (CDEG) accounts for the maximum application of molded fiber pulp packaging for electronics such as cellphones, internet modems and computers
- The pharmaceutical industry is seeking to explore molded fiber pulp packaging for a wide range of pharmaceutical products
Molded Fiber Pulp Packaging Market: Region-wise Analysis:
- Collective demand for molded fiber pulp packaging across North America and Europe is greater by 400 basis points than Asia Pacific
- Collective demand from Latin America and the Middle East is below 10% of the global fiber pulp packaging market
- Asia-Pacific is the fastest expanding region, with major demand being generated from the emerging economies of China, India and Japan
Molded Fiber Pulp Packaging Market: Competitive Insights
Prominent market players profiled in the molded fiber pulp packaging market include ESCO Technologies Inc., Pacific Pulp Molding LLC, UFP Technologies, Inc., Spectrum Lithograph, Inc., Pactiv LLC, Huhtamaki Oyj, Brodrene Hartmann A/S and Keiding, Inc., to name a few.
Manufacturers are looking for alternative sources to procure pulp due to increased demand for sustainable packaging. This trend has compelled them to look for non-wood fibers such as bagasse, wheat straw and bamboo. Additionally, technological advancements have paved the way for sophisticated coating and printing techniques for on-molded fiber pulp products.
Molded Fiber Pulp Packaging Market Taxonomy:
- Drink Carriers
- End Caps
- Clamshell Containers
- Primary Packaging
- Secondary Packaging
- Edge Protectors
Molded Pulp Type
- Thick Wall
- Transfer Molded
- Thermoformed Fiber
- Processed Pulp
- Food & Beverage (Egg Packaging, Wine Packaging, Fruit Packaging and Others)
- Food Services
- Others (Candles, Flower Packaging)
Region & Country
- Rest of Latin America
- EU-5 countries (U.K, Spain, France, Italy and Germany)
- Nordic countries
- New Zealand
- GCC countries
- Southern Africa
- North Africa
- Rest of MEA
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Get Valuable Insights into the Molded Fiber Pulp Packaging Market
In its latest report, future market insights offers an unbiased analysis of the global molded fiber pulp packaging market, providing historical data for period of 2015-2019 and forecast statistics for the period of 2020-2030. To understand opportunities in the molded fiber pulp packaging market, the market is segmented on the basis of product type (trays, clamshells, bowls, drink carrier, plates, end caps, etc.), molded pulp type (thick wall, transfer molded, thermoformed molded, processed pulp), and industry (consumer durable and electronic goods, food & beverages, cosmetics, pharmaceuticals, automotive component, food service, logistics, healthcare, others), and across six major regions.
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