Home > Pressrelease > Molded Pulp Packaging Market size to surpass USD 7 billion by 2032
Molded Pulp Packaging Market size to surpass USD 7 billion by 2032
- Published Date: November 16, 2022
Molded Pulp Packaging Market size is poised to record a valuation of USD 7 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
A noticeable surge in Agri farming practices and the consistent growth of the poultry sector globally will bolster the demand for molded pulp packaging materials, claims the report. Poultry farming is a significant income source for farmers across developing and transitioning economies.
Besides, poultry products, such as meat and eggs, are crucial to fulfilling daily protein and other nutritional requirements in humans. The accelerating dietary shift owing to emerging health concerns and the fast-paced transition toward a healthy lifestyle has led to an upsurge in poultry production.
Proliferation of on-the-go food services to increase the adoption of clamshell packaging
With respect to the product landscape, molded pulp packaging market from clamshell segment size is expected to expand at over 8.5% growth rate between 2023 and 2032. Clamshells made of molded pulp are highly biodegradable, thus significantly reducing the environmental impact and offering a competitive edge over their plastic counterparts. The increasing utilization of these packaging materials in food delivery and takeaway meal services will augment the product sales trajectory.
Accelerating shift toward sustainable products to boost the adoption of fiber thermoforming process
Fiber thermoforming segment is anticipated to be worth around USD 1.5 billion by 2032. Fiber thermoforming is used for manufacturing sustainable packaging solutions that offer optimal product protection. It is highly economical, provides considerable savings on tooling cost, and generate a significantly lesser CO2 footprint. The rising environmental concerns and the increased popularity and subsequent adoption of eco-friendly packaging solutions will drive segment growth over the next ten years.
Browse key industry insights spread across 250 pages with 499 market data tables and 24 figures & charts from the report “Molded Pulp Packaging Market Statistics by Product (Trays, Cups, Clamshells, Plates, Splitters), Type (Rotary Molding Pulp, Fiber Thermoforming/Wet Press, Industrial Molding Pulp/Dry Press), and Industry (Eggs, Agriculture, Food & Food Service, Electronics, Appliances, Other Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Increasing poultry farming practices to bolster product demand across eggs industry
Eggs segment amassed a valuation of over USD 2.5 billion in 2022. The segment growth can be attributed to a significant surge in poultry and egg production. The eggs industry is one of the leading consumers of molded pulp trays as they are highly profitable, recyclable, and sustainable and protect eggs from cracking and fracturing. Besides, they are customizable in terms of design, color, and imprinting logos, making them a preferred packaging alternative among brands, thus driving business growth.
Changing dietary habits to drive industry expansion across North America
North America molded pulp packaging market is speculated to exhibit over 7.5% CAGR through 2032. North America has a strong presence of several end-use industries, including electronics, agriculture, and food & food services. A considerable rise in demand for packaged food items and on-the-go food trends have fostered the adoption of molded pulp packaging in the region. Besides, the changing dietary preferences and an increased intake of protein-rich food products will further strengthen the industry landscape across North America.
Strategic investments to stimulate the competitive landscape
Major enterprises having a strong presence in the molded pulp packaging market are Huhtamaki, Ltd., Pacific Pulp Molding, Molpack Corporation Ltd., YFY Jupiter, Smurfit Kappa, Alta Global, Inc., DS Smith, Best Plus Pulp Co. Enviropak, CMPC, Hartmann, Stora Enso, Western Pulp Products Company, and Sonoco Products Company.
Companies operating in the market have been making hefty investments and implementing other growth measures to boost their sales trajectory and meet the rising consumer demand. For instance, in July 2022, Smurfit Kappa announced the completion of its large-scale sustainability project at the company's Zülpich paper mill in Germany with an investment worth approx. USD 11.56 million. The mill now runs on a combination of natural gas, residual materials, and its own biogas.