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Molded Fiber Packaging Market Research Report By Forecast To 2023
Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)
Molded Fiber Packaging Market Research Report - Forecast to 2023 Global Molded Fiber Packaging Research Report Information by Type (Thick-Wall, Transfer, Thermoformed (Thin-Wall), and Processed), By End-Use (Food and Beverages, Electronic, Personal Care, and Others), And By Region – Forecast Till 2023 Molded fiber is also known as molded pulp packaging, which is used as a protective packaging for many products in food and beverage, electronics, and personal care sectors. Molded fiber is made from 100% recycled newsprint and is 100% recyclable. It is recyclable, biodegradable, and sustainable and reduces input and disposal costs compared to less recyclable, petroleum-based materials.
Rising urbanization and increasing consciousness for better packaging and increasing environmental awareness among people are some of the factors leading to the increased use of molded fiber packaging. Molded fiber packaging not only provides protection but also prevents breakage during transit across the supply chain. Although the demand for recycled packaging has been growing for years, molded fiber has traditionally been associated with items such as box inserts, cup carrying trays, and egg carton packaging that had limited consumer appeal.
Following the trend towards sustainability, packaging developers are expanding the possibilities available with molded fiber packaging applications. Thus, more retailers, manufacturers, and consumers in markets are adopting sustainable molded fiber packaging. Molded fiber’s packaging proficiencies range from shipping wine bottles and retail packaging for cosmetics to protective packs for jarred candles, cushions for computers, and inserts for mobile phones. Increasing R&D effort with standardized design and testing practices is essential to meet the growing demand for eco-packaging with high-quality features. The global molded fiber packaging market is estimated to reach USD 8,620 million by the end of the forecast period, at a CAGR of 7.79%. 2
Molded Fiber Packaging Market Research Report - Forecast to 2023 Segmentation
Molded Fiber Packaging Market Research Report - Forecast to 2023 Regional Analysis
The global market is segmented on the basis of geography into Asia Pacific, North America, Europe, and the Middle East & Africa. The Americas will be the major revenue contributor to the molded fiber packaging market throughout the forecast period. Increase in the consumption of packaged foods, ready meals, and junk food is due to the rise in disposable incomes of consumers in the Americas. Growing demand for consumer goods, such as household products and food and beverages will be the major driver for the market’s growth in this region. In addition, the demand for paper packaging is expected to increase due to the growing awareness of biodegradable packaging solutions and the pressure from government authorities.
The Asia Pacific region is one of the key contributors to the growth of the global consumer electronics industry. Increased annual disposable income and rapid urbanization have changed spending priorities. Moreover, the changing lifestyle of people, coupled with rapid urbanization and increasing consumer influence, especially in the Asia Pacific, is expected to offer lucrative opportunities for growth of the molded fiber pulp packaging market.
Molded Fiber Packaging Market Research Report - Forecast to 2023 Key Players
The key players of global Molded fiber packaging market includes Huhtamaki (Finland), UFP Technologies, Inc. (U.S.), Moulded Fibre Product Ltd. (U.K), Henry Moulded Products Inc. (U.S.), Brødrene Hartmann A/S (Denmark), Cullen Packaging Ltd. (U.K), EnviroPAK Corporation (U.S.), Heracles Packaging Company SA (Greece), Keiding, Inc. (U.S.), and Hurley Packaging of Texas (U.S.).
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