Molded fiber pulp packaging products are made from recycled or virgin pulp that is a natural cellulose fiber. Molded fiber is strong, lightweight and compostable material and provides cushioning and protection for various applications while being environment-friendly. Molded fiber pulp is used to produce protective packaging for fragile and premium consumer electronics, medical devices, automotive components, fresh food packaging and other applications where cushioning and insulation is required to protect goods from damage during transportation and storage.
The global Molded Fiber Pulp Packaging Market is estimated to be valued at Us$ 9619.61 Mn in 2023 and is expected to exhibit a CAGR Of 14% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Sustainability and environmental consciousness has been a key trend in the molded fiber pulp packaging market over the past few years. Customers are increasingly preferring eco-friendly and sustainable packaging solutions over traditional plastics and foams. Companies are also under pressure from regulations discouraging single-use plastics which has boosted the demand for molded fiber as an alternative. Molded pulp is lightweight and durable yet completely biodegradable and compostable, facilitating its growth in the packaging industry where sustainability is a top priority. Manufacturers are also innovating molded fiber to replace expanded polystyrene foam which is commonly used for Protective Packaging but poses environmental issues like microplastic pollution.
Segment Analysis
The global Molded Fiber Pulp Packaging market is segmented on the basis of the product type and end-use industry. Based on product type, the market is segmented into thick wall, transfer molded, thermoformed fiber and processed pulp. Among these, the thick wall segment dominates the market and accounts for over 30% share owing to its ability to provide unsurpassed strength to protect products from damage during shipping or storage.
Key Takeaways
The Global Molded Fiber Pulp Packaging Market Demand is expected to witness high growth. The global Molded Fiber Pulp Packaging Market is estimated to be valued at US$ 9619.61 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030.
Regional analysis related content comprises North America is expected to dominate the molded fiber pulp packaging market during the forecast period. Factors such as increasing demand from end-use industries like food & beverages, automotive, healthcare, and electronics is fueling market growth in the region.
Key players related content comprises Key players operating in the Molded Fiber Pulp Packaging market are UFP Technologies,Inc., ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC., Keiding, Inc., FiberCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd., Spectrum Lithograph, Inc., Dynamic Fibre Moulding (PTY) Ltd., Primapack SAE, Jiangyin Greenpacking Trade Co., Ltd., Dongguan City Luheng Papers Company Ltd., Guangzhou NANYA Pulp Molding Equipment Co., Ltd., and Protopak Engineering Corporation.
Get more insights on this topic :
Check more trending articles on this topic:
https://shoutingstars.com/automotive-embedded-systems-future-of-in-vehicle-technology
