The global demand for the molded fiber pulp packaging market is expected to reach 3 million tonnes in 2021, growing 4.4% YoY. Global sales of molded fiber pulp packaging materials are expected to exceed $7.7 billion in 2021, growing 4.8%. The overall 10-year compound annual growth rate (CAGR) is still positive at 5.1%.
The need for environmentally friendly and sustainable packaging has led to the development of molded fiber pulp packaging materials. Molded fiber materials are made from recycled materials such as newspaper or cardboard. Molded fiber/pulp packaging can be classified into four types based on the mold used in the manufacturing process, the thickness and application of the packaging, transfer molding, thick-walled, machining, and thermoforming. The transfer mold type is used for packaging electronic consumer goods and egg trays and cartons. The thick wall type is used for packaging heavy and fragile items. Processed types are custom-molded fibers/pulps with special additives or slurry components.
Molded Fiber Pulp Packaging Market: Drivers and Limitations-
Molded fiber/pulp packaging is a major driver of global molded fiber pulp packaging market growth as a cost-saving alternative compared to other packaging types. Another advantage of this packaging type is that it is more durable in wet and high-temperature conditions. The vibration absorption capacity of molded fiber/pulp packaging is also superior compared to other packaging types. The ease of handling of molded fiber pulp packaging products and environmentally friendly materials is expected to drive the growth of the global molded fiber pulp packaging market as a substitute for plastics. Growing emphasis on sustainable development and stringent regulations by food and beverage and consumer goods manufacturers is expected to drive the growth of the global molded fiber pulp packaging market.
Molded Fiber Pulp Packaging Market By Product Type (Trays, Drink Carriers, Plates), Application (Primary Packaging, Secondary Packaging, Edge Protectors), End Use (Consumer Durables, Food & Beverage, Food Services) & Region – Forecast To 2021- 2031