Molded Fiber Packaging Market
The molded fiber packaging market can potentially advance at a rate of 4.90% during forecast period, confirms Market Research Future (MRFR).
Top Boosters and Main Challenges
Eco-friendly molded fiber pulp packaging caters to the needs and expectations of customers, in terms of ecological responsibility as well as packaging excellence. Manufacturers in the packaging industry are imposing practices that demand innovation and sustainability. A majority of the companies are focused on molded fiber pulp packaging that is compostable, recyclable and biodegradable, while working on enhancing the product consistency, costs as well as quality. These efforts with respect to product innovation and technological developments can induce significant business growth in the upcoming period.
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Furthermore, since the manufacturing process of molded fiber involves no wastage, the residue is reused and then recycled. Therefore, molded fiber pulp packaging notes high demand across industries. Apart from this, minimum inventory costs, easy packaging process and low disposal costs has led to molded fiber pulp packaging gain higher acceptance as well as recognition across the globe.
A huge number of renowned companies in the molded fiber packaging maintain a strong focus on emerging markets; MRFR report reveals that technology innovation will be an important strategy for the renowned manufacturers in the industry. Leading players are also highly focused on trade shows as well as marketing campaigns that helps them showcase their offerings to a broad range of end users, resulting in better growth prospects for the molded fiber packaging market.
Market Segmentation
The molded fiber packaging industry can be segmented depending on type, source, product, and end-use industry.
The types of molded fiber packaging are transfer molded, thick-wall, processed pulp and thermoformed fiber. The lead has been taken by the transfer molded segment, on account of the widespread demand for packaging products like wine shippers, slipper pans, fruit and vegetable trays, end caps, egg trays and cartons, and more, across the globe.
Source-based market segmentation comprises wood pulp as well as non-wood pulp. The wood pulp stands as the dominating segment in the worldwide market, due to its recyclability properties.
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The products covered during the market study are clamshell containers, trays, end cap, boxes, and others. The demand for trays generated in the market is the highest, because of the ease of storing and shipping processes.
The main end-use verticals in the market include personal care, food beverage, healthcare, electronics, and others. The maximum share in the market belongs to the food beverage segment, mainly because of the rising use of products like egg trays and cartons, plates, jellies, food serving trays, bowls, fruit, vegetable trays, cup carriers, wine, clam-shell food containers, locator trays for bottled products, within the food beverage industry.
Regional Study
The regional study of the Molded Fiber Packaging Market has been considered for South America, Asia Pacific or APAC, the Middle East Africa or MEA, Europe and North America.
The easy availability and low cost of raw materials as well as labor are some of the factors that make APAC the leading market for molded fiber packaging. APAC is also touted to be the fastest-gaining market, given the tremendous development of the food beverage industry and the expansive automotive sector. The region is a notable supplier and consumer of automobiles, which leads to high revenue generation for the molded fiber packaging market. China, backed by the stupendous growth of the automobile industry, can emerge as the top market for molded fiber packaging during the evaluation period.
The North American market for molded fiber packaging can make significant headway in the following years, as a result of the rampant demand for protective packaging and the mounting environmental concerns. These concerns are compelling most of the industries in the region, like food serving and retail sector to shed the use of plastic packaging and instead go for molded fiber packaging, which is more sustainable.
Leading Market Competitors
Leading market competitors include Henry Molded Products Inc. (US), Huhtamäki Oyj (Finland), Robert Cullen Ltd (UK), UFP Technologies Inc., Brødrene Hartmann A/S (Denmark), (US), to name a few.
Latest Developments
February 2020
Genera is currently working on developing and manufacturing molded fiber food service-based products such as bowls, takeout containers and plates, which are expected to be completely biodegradable as well as compostable.
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