As the world transitions towards sustainable and environmentally friendly packaging solutions, the demand for biodegradable packing and storage solutions is on the rise.
According to FMI, the pulp molding machines market may grow 3.2% year-on-year in 2023 due to increasing demand for pulp & paper packaging across industries. The market share of pulp molding machines is expected to reach from US$ 738.2 million in 2023 to over US$ 1068.8 million by 2033. The market is expected to record a CAGR of 3.7% from 2023 to 2033.
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The demand for pulp molding machines may increase as molded pulp packaging products are used frequently in various end-use industries, including food and beverage, electronics, and healthcare. Governments and regulatory bodies have imposed restrictions on the generation of plastic waste over the years.
Many foodservice operators and retail chains are switching from plastic packaging to molded pulp packaging in response to consumer demand for sustainable packaging. These factors are expected to boost market growth in the near future.
The need for pulp molding machines is expected to rise as end-use sectors, including food & beverage, electronics, and healthcare, anticipate using molded pulp packaging in the future. Over the years, a number of regulatory agencies and governments have put limitations on the production of waste made mostly of plastic.
Key Takeaways from Market Study
- The pulp molding machines market is expected to record a CAGR of 3.8% over the forecast period.
- It is estimated that the pulp molding machines market in Asia Pacific may remain strong during the forecast period.
- The food & beverages segment is likely to hold a dominant share of 46.7% of total revenue during the forecast period.
- The United States was estimated to reach US$ 137.3 million in 2023 and is projected to capture a global market share of 19.2% from 2023 to 2033.
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Competitive Landscape:
Several market players and local companies are operating in the moderately fragmented market. Market players use various strategies to gain market share, including investments, partnerships, acquisitions, and mergers. Companies are striving to keep their products competitive and to improve their products.
Several prominent companies dominate this market, including Huhtamaki Oyj., Brodrene Hartmann A/S, BeSure Technology Co., Ltd., Acorn Industry, and others.
Recent Developments:
- In May 2021, Huhtamaki announced plans to set up a new manufacturing facility in KwaZulu-Natal in South Africa to serve the growing egg packaging needs of the region. To penetrate the East African market, the company plans to offer a variety of locally produced packaging solutions.
- Huhtamäki Oyj invested US$8 million in November 2018 to grow its fiber packaging company in Russia and the Nordic nations. As an organization, Brodrene Hartmann A/S is focusing on the improvement and upgrading of equipment/machinery while enhancing service to gain new clients. This company primarily provides troubleshooting and maintenance services.
- In order to strengthen its global distribution network, ZH Moulded Pulp Co., Ltd. is looking to establish partnerships with exporters, importers, suppliers, and traders of pulp machinery.
- As a supplier of installation, maintenance, and after-sales services, HGHY Pulp Molding Pack Co., Ltd. provides a variety of services for its clients.
Pulp Molding Machines Market Segmentation by Category
By Capacity Type:
- < 1,500 units/hr.
- 1,501-3,500 units/hr.
- 3,501-5,500 units/hr.
- Above 5,500 units/hr.
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By Machine Type:
- Automatic
- Semi-automatic
- Manual
By Product Type:
- Rotary
- Reciprocating
By Application:
- Trays
- Boxes & Containers
- End Caps
- Cups & Bowls
- Plates
- Drink Carriers
- Others
By End Use:
- Food & Beverages
- Egg Packaging
- Wine Packaging
- Fruit Packaging
- Others
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