Molded Pulp Packaging Market Size

Molded Pulp Packaging Market Size

Molded Pulp Packaging Market size valued at USD 3 billion in  2022 and is slated to showcase over 8% CAGR from 2023 to 2032. Increasing agricultural yield will fuel the global industry forecasts.

The considerable rise in agricultural output globally due to the increasing technological advances and the adoption of precision farming practices may foster the demand for molded pulp packaging. Indviduals have recently grown increasingly aware of the ecological implications of huge quantities of plastic rubbish, particularly single-use plastic waste. A conscious move urging people to reduce their consumption of plastic has led to an increase in the demand for biodegradable products manufactured from leftover materials from other products.

This has resulted in a massive boom across the agricultural sector and a subsequent rise in international trade and shipping practices. According to the latest IBEF estimates, agricultural and processed food product exports in India stood at USD 5,987 million in Q1, FY 2022-23, recording a 14% YoY growth. However, the availability of cost-effective and energy-efficient packaging alternatives in the market may restrict the industry revenue streams. The integration of novel manufacturing strategies, such as rapid prototyping, will strengthen the molded pulp packaging industry.