The molded fiber pulp packaging market is expected to be valued at US$ 9.0 billion in 2024. The market size was US$ 8.6 billion in 2023. The CAGR for the market is projected to be 5.4% from 2024 to 2034. The market is anticipated to reach US$ 15.1 billion by 2034.
Industries such as food & beverage, electronics, and healthcare, are driving the demand for molded fiber pulp packaging solutions. Manufacturers and consumers are increasingly focusing on sustainable practices, driving the growth of the market. Key players are concerned about regulations imposed on plastic packaging and are thus inclined toward green solutions.
The sustainability trends are driving consumers toward recyclable product adoption. As molded fiber pulp packaging prominently uses recyclable material, the market for the product is getting propelled. The lightweight but sturdy nature of the packaging makes it easy to handle while also providing security, fueling product demand in the market.
The rising cost of raw materials used by manufacturers of fiber pulp is a significant factor restraining the market. Further, market players have to also take into account the various rules by regulatory bodies. Thus, sometimes, the acquisition and import of raw materials bring uncertainties in the market.
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“Innovative processes of manufacturing are making the market more dynamic. Practices such as impulse drying and 3D printed mold tooling are helping producers to cut down on costs while also saving time. The streamlining of manufacturing processes through the introduction of newer technologies represents exciting opportunities in the market,” says an analyst at FMI.
Key Takeaways from the Molded Fiber Pulp Packaging Market
- The molded fiber pulp packaging market is estimated to be US$ 9.0 billion in 2024.
- Trays are the highly preferred product type in the market. In 2024, trays are expected to hold a share of 32.8% of the market.
- Transfer molded fiber products are the most popular in the market. In 2024, the transfer molded segment is expected to account for 52.8% of the market share by molded pulp type.
- India is one of the promising countries in the market. The CAGR for the market in India is predicted to be 7.7% from 2024 to 2034.
- China and Thailand are other Asian countries with potential for market growth. The CAGRs for China and Thailand markets are projected to be 6.8% and 6.6%, respectively, through 2034.
- The market is expected to register a CAGR of 4.5% in the United Kingdom over the forecast period.
Competition Analysis of the Molded Fiber Pulp Packaging Market
The market is competitive as giants co-exist with smaller-scale players operating locally. Partnerships, both local and foreign, between market players are common. Market players predominantly focus on the improvement in technology and easy procurement of raw materials. Some of the prominent companies in the market are UFP Technologies, Inc., FiberCel Packaging LLC, Huhtamaki Oyj, and Pactiv LLC.
Recent Developments in the Molded Fiber Pulp Packaging Market
- In September 2023, American market player Cirkla raised US$ 3 million in funding.
- In July 2023, Matrix Pack’s partnership with Curt G. JOA Inc. was announced, with the latter lending its machinery to the former for dry mold fiber manufacturing.
- In April 2023, PulPac entered into a partnership with Malaysian company HZ Green Pulp to produce dry molded fiber for packaging products in Malaysia.
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Key Segments
By Product Type:
- Trays
- Drink Carriers
- 2 Cups
- 4 Cups
- 6 Cups
- More than 8 cups
- Boxes
- End Caps
- Plates
- Bowls
- Cups
- Clamshell Containers
By Molded Pulp Type:
- Thick wall
- Transfer Molded
- Thermoformed Fiber
- Processed Pulp
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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