In 2021, global demand for Molded fiber pulp packaging is expected to expand by 4.4 percent year on year (YoY), reaching a total volume of 3 million tonnes. In 2021, global molded fiber pulp packaging sales are predicted to increase by 4.8 percent, topping US$ 7.7 billion. At 5.1 percent, the ten-year compound annual growth rate (CAGR) remains positive.
After a period of weak sales due to COVID-19-induced restrictions, the US market is predicted to expand by 4.2 percent year on year in 2021. By the end of the year, total sales of molded fiber pulp packaging in North America would have reached US$ 1.3 billion.
Over the projection period, the rise in e-commerce, courier, and food delivery services around the world will act as a driver for the molded fiber packaging market. Over the projected period, fluctuations in the price of wood pulp are expected to limit demand for molded fiber packaging. Growing R&D expenditure, particularly in emerging nations, provides a potential growth opportunity for the molded fiber packaging market. For the molded fiber packaging industry to thrive shortly, it must maintain a high level of quality.
Insights by Country
What Will Canada Do to Help the Molded Fiber Pulp Packaging Market Grow?
According to a survey by Future Market Insights, North America is the third-largest market for molded fiber pulp packaging. According to the most recent estimates, Canada will account for 12% of total North American sales until 2031. Several manufacturers are on the lookout for great prospects and are concentrating on growing their businesses.
For example, molded fiber pulp packaging manufacturers such as Hartmann Canada Inc., a leading egg packaging maker, invested roughly US$ 15.8 million in 2019-2020 to expand production capacity at the company’s current factory in Missouri, USA.
What are the sales prospects for molded fiber pulp packaging in the United Kingdom?
Over the next decade, the molded fiber pulp packaging industry in the United Kingdom is expected to develop at a 4.5 percent compound annual growth rate (CAGR). Because of increasing consumer attitudes toward consuming healthier foods, the consumption of food and beverage items is predicted to rise, positively impacting the molded fiber pulp packaging market.
Furthermore, the European Commission is working to promote packaging waste reuse. Items bearing the EU compostability certificate EN13432 are considered compostable packaging products, according to European Directive 94/62/EC on Packaging and Packaging Waste. As a result, demand for molded fiber pulp packaging has increased in numerous European provinces, including the United Kingdom.