Molded Pulp Packaging Market size worth over USD 4.4 billion by 2027
Published Date: May 10, 2021 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights Inc., the Molded Pulp Packaging Market size is forecast to exceed USD 4.4 billion by 2027. The global market has tremendous potential for growth as most of the countries are introducing regulations regarding environment-friendly packaging.
Molded pulp being a biodegradable product has witnessed an increase in demand from European and North American end users. In Asian countries, products will grow at the highest rate owing to strong economic and demographic factors.
Molded pulp packaging is a sustainable packaging option, witnessing a strong demand in FMCG and food & beverage sectors owing to its eco-friendly & bio-degradable traits. The production of molded pulp fiber products is environmentally sustainable and has zero wastage. The materials used for production and the resulting residue & water are recycled and reused, producing zero waste. Packaging excellence and ecological development & responsibility of molded pulp products are some of the factors that are expected to boost the global molded fiber pulp packaging market growth.
Browse key industry insights spread across 409 pages with 500 market data tables & 24 figures & charts from the report, “Molded Pulp Packaging Market By Product (Trays, Cups, Clamshells, Plates, Splitters), By Type (Rotary Molding Pulp, Fiber Thermoforming/Wet Press, Industrial Molding Pulp/Dry Press), By Industry (Eggs, Agriculture, Food & Food Service, Electronics, Appliances, Other Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
The food & beverages industry will fuel the molded pulp cups and plates demand
The molded pulp cups and plates segment cumulatively valued at USD 74 million in 2020. Majority of it came from the food & food services industry. Cups made from molded pulp are majorly used as disposable cups that are used in places such as cars, theatres, restaurants, offices, etc. Disposable cups have become an inherent part of the daily lifestyle. The most common cups used around the globe are plastic cups that have a significant share in plastic pollution. This has resulted in the increased demand for recyclable cups made from molded pulp.
Molded pulp plates are largely used as a replacement for plastic tableware to serve food in restaurants and catering events. They can be produced in a variety of shapes with any number of indentations for segregating food. Molded pulp offers higher smoothness, making it attractive to both restaurants & consumers. Molded pulp plates offer a variety of advantages such as microwave & freezer safe, can be used for both hot & cold items, have no wax lining, and are soak proof. They can easily manage hot liquids up to 2200`F, where conventional plastic plates possibly fail. Additionally, microplastic granules of the plastic pulp can cause harm to the eater, which is not present in molded pulp plates. All these trends will cumulatively govern the growing demand for molded pulp plates in the molded pulp packaging market.
Wet press will register significant demand growth in coming years
In recent years, the demand for eco-friendly packaging products, such as molded pulp, has boosted with the rising number of consumers. Among these product types, fiber thermoforming or wet press technology is the latest manufacturing method that produces superior quality thin?walled products.
Fiber thermoforming segment is likely to reach USD 1.1 billion by 2027. In thermoforming or wet press, the pulp is first heated and then draped over the mold. Wet press showcases a range of properties, such as minimum cycle time; easy maintenance; and reliable machinery parts, that avoid machinery downtime; and multi-purpose operations, which can produce different molded pulp products concurrently to meet various market demands.
Wet process molded pulp utilizes high-quality paper, which renders a smooth texture and high-quality to the final product. The heating process involved in the process efficiently controls the pulp moisture to offer more fibers per inch. The drying process increases the pulp density by compacting the fibers in the drying process.
Favorable regulatory landscape will drive the product demand in Europe
European market size will exceed will reach USD 1 billion by 2027. Europe is highly regulated; thus, regulatory bodies have the ability to shape the market growth. Fortunately, regulations in this region seem to be helping the molded pulp industry. To battle the increasing pollution level and rising consumption of single use plastic, the European Commission has banned the use of single use plastic.
Furthermore, consumers in the region are more aware of the environment and packaging materials impact on pollution. The European region also witnessed a significant increase in egg consumption over the years. The eggs industry was responsible for more than 75% of the total Europe market. Agriculture and food & food services held around 10% of the total regional market share. The rising end-user industry will propel market growth during the forecast period.