The molded fiber trays market is on a robust growth trajectory, with an estimated worth of US$2.6 billion in 2022, poised to ascend to US$4.3 billion by 2032, reflecting a steady 5.0% Compound Annual Growth Rate (CAGR). The driving force behind this expansion is the escalating consumer consciousness regarding sustainable packaging solutions, coupled with the ascending trend favoring molded fiber packaging. Projections indicate a consistent 5% growth between 2021 and 2032, unveiling an incremental opportunity of US$1.7 billion in molded fiber trays sales revenue.
Anticipated to burgeon 1.6 times its current value over the next decade, the molded fiber trays market is poised for remarkable growth. Leading companies are predicted to capture a substantial market share of 20-25% by 2022. This expansion is particularly notable in the multi-cavity molded fiber trays segment, with projected sales growth at a CAGR of 6.0% from 2022 to 2032, attributed to its capacity to safeguard and store diverse contents simultaneously.
While Europe is expected to maintain a significant role in driving demand for molded fiber trays, Asia’s dominance in the global market remains unchallenged. The data paints a compelling picture of a market in evolution, shaped by sustainability imperatives and shifting consumer preferences, poised for substantial growth in the years ahead.
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The food and beverage industry is expected to be the largest end-use segment for molded fiber trays, due to their wide application in packaging and transporting fresh fruits, vegetables, meat, and dairy products. In addition, the agriculture industry is also expected to be a major end-user of molded fiber trays, as they are widely used for packaging and transporting seeds, plants, and other agricultural products.
The report also highlights that the use of molded fiber trays in the consumer goods industry is also increasing, as these trays are used for packaging and transporting a wide range of products such as electronics, toys, and household items.
The global molded fiber tray market is segmented on the basis of material, application, and end-use industry. Based on material, the market is segmented into recycled paper, wood pulp, and others. Recycled paper is expected to be the most widely used material in the market, due to its cost-effectiveness and availability.
Based on application, the market is segmented into food and beverage, agriculture, consumer goods, and others. The food and beverage segment is expected to dominate the market, due to the wide application of molded fiber trays in packaging and transporting fresh fruits, vegetables, meat, and dairy products.
Based on end-use industry, the market is segmented into food and beverage, agriculture, consumer goods, and others. The food and beverage industry is expected to dominate the market, due to the wide application of molded fiber trays in packaging and transporting fresh fruits, vegetables, meat, and dairy products.
In conclusion, the global molded fiber tray market is expected to grow at a significant rate during the forecast period from 2020 to 2027, due to increasing demand for sustainable packaging solutions, rising awareness about the environmental impact of plastic packaging, and growing adoption of molded fiber trays in the food and beverage industry. The food and beverage industry is expected to be the largest end-use segment for molded fiber trays, while the agriculture industry is also expected to be a major end-user of these trays.
By the end of the next ten years, it is anticipated that the global market for molded fiber trays will grow by 1.6 times its current market value. Sales of molded fibre trays are expected to increase, with the top 5 businesses expected to control 20–25% of the market in 2022.
According to recently published data from the molded fibre trays industry, the shipment (sales) of the overall multi cavity molded fiber trays market is anticipated to grow at a CAGR of 6.0% from 2022 to 2032 because it provides protection and storage for multiple types of content simultaneously.
During the projected period, Europe will probably continue to play a significant role in the demand for moulded fibre trays. In the meanwhile, Asia will continue to dominate the world market for moulded fibre trays.
The molded fiber trays market will register steady growth at 5% CAGR between 2022 and 2032. Molded fiber trays are sustainable packaging solutions manufactured by using recycled materials.
These recycled materials include waste newspapers, papers, cardboard, and others. Molded fiber trays are manufactured from recycled content and are recyclable, biodegradable, and compostable which adds to their various environmental benefits.
This helps reduce the environmental impact, which is a top priority for nearly all end-use industries. Molded fiber trays are produced using different molded pulp type based on the requirement of end-users such as transfer molded, thick wall, thermoforming pulp, and others. These trays are used by various end use industries such as consumer durables, food & beverage, healthcare, automotive, food services, electronics, and others.
Moreover, molded fiber trays are used as a protective alternative due to their excellent vibration dampening & cushioning properties, which protect the product from damage during transportation. Thus, the increasing awareness and the growing consumer preference for eco-friendly, sustainable, and protective packaging solutions is anticipated to augment the sales of molded fiber trays.
Future Market Insights forecasts that there are various opportunities for the players operating in the molded fiber trays market, especially for the companies investing significantly in R&D to develop more efficient, innovative, and cost-effective solutions.
“The surging focus on sustainable and eco-friendly packaging solutions will bolster the demand for molded fiber trays. Also, the innovation and development initiatives undertaken by the key players operating in the molded fiber trays are creating impressive prospects for growth”- says an FMI analyst.
Key Takeaways from Molded Fiber Trays Market
•Transfer molded is the most preferred molded pulp type for manufacturing molded fiber trays. The target segment is projected to hold around 54% of the market value share by the end of 2032
•By product type, the multi cavity molded fiber trays segment is anticipated to expand at a CAGR of 6.0% during 2022-2032. As the multi cavity molded fiber trays can carry a variety of content in a single piece attracts the end use industries.
•As the consumer & end-users are more concerned about the environmental impact of various packaging formats, they prefer sustainable & recyclable packaging solutions along with protective packaging.
This is anticipated to propel the demand for molded fiber trays in the food & beverage industry. The food & beverage industry is anticipated to create a growth opportunity of US$ 854.3 Mn during 2022-2032.
•North America and Europe are estimated to account for more than 50% of sales of molded fiber trays during the forecast period.
Consumer Electronics Manufacturers Shifting towards Sustainable Packaging Solutions and Creating Growth Opportunities for Molded Fiber Trays Suppliers
Traditionally, consumer electronic devices come in a variety of packaging solutions, and each part is wrapped with seamless packaging so that it does not open or get damaged. This can frustrate consumers. Consumers nowadays demand sustainable, easy-to-open, and minimal packaging with effective protection for the product. Therefore, consumer electronics manufacturers are trying to focus on providing packaging solutions that enhance the consumer experience.
Moreover, due to the push by governments and regulations in various regions, consumer electronics manufacturers are adopting sustainable packaging solutions. This is creating growth opportunities for the molded fiber trays market. Consumer electronics manufacturers are shifting towards molded fiber for packaging their products as it is recyclable, versatile, and protects the products. For instance, Samsung announced the replacement of its plastic holder trays with molded fiber in 2019. Apple also reduced its plastic packaging by 48% by opting for molded fiber. Thus, consumer electronics manufacturers shifting towards sustainable packaging solutions are creating growth opportunities for the molded fiber trays market.
Global Molded Fiber Trays Market Landscape
Huhtamaki Oyj, UFP Technologies, Inc., International Paper Company, TRIDAS, and FiberCel Packaging LLC are the key players operating in the molded fiber trays market. Pactiv LLC, buhl-paperform GmbH, Denta? Paper Industry Inc., Pulp-Tec Limited, PAPACKS SALES GmbH, and others are also noticeable players in the molded fiber trays market. The tier 1 players in the global molded fiber trays market hold around 15-20% of the market.
Global Molded Fiber Trays Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global molded fiber trays market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the molded fiber trays based on the molded pulp type (thick wall, transfer molded, thermoformed fiber, and processed pulp), product type (single cavity molded fiber trays and multi cavity molded fiber trays), and end use (consumer durables, food & beverage, healthcare, automotive, food service, and others (electronics, etc.)) across seven regions.
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Molded Fiber Trays Market by Category
By Molded Pulp Type, Molded Fiber Trays Market is Segmented as:
- Thick Wall
- Transfer Molded
- Thermoformed Fiber
- Processed Pulp
By Product Type, Molded Fiber Trays Market is Segmented as:
- Single Cavity Molded Fiber Trays
- Multi Cavity Molded Fiber Trays
By End Use, Molded Fiber Trays Market is Segmented as:
- Consumer Durables
- Food & Beverage
- Healthcare
- Automotive
- Foodservice
- Others
By Region, Molded Fiber Trays Market is Segmented as:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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