Sales Of Molded Fiber Pulp Packaging Is Expected To Grow At A CAGR Of 5.1% Between 2021 And 2031

Molded fiber pulp packaging will gain traction due to the expanding application in the food and beverage industry. As per a study by Future Market Insights (FMI), the sales of molded fiber pulp packaging is expected to grow at a CAGR of 5.1% between 2021 and 2031.

 Global demand in the molded fiber pulp packaging market is estimated to register year-on-year (YoY) growth of 4.4% in 2021, reaching a total volume of 3 Mn Tons. The global sales of molded fiber pulp packaging are expected to grow by 4.8% in 2021 surpassing US$ 7.7 Bn. The overall ten-year compound annual growth rate (CAGR) remains positive at 5.1%.

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Country-wise Insights

How Will Canada Contribute to the Growth of the Molded Fiber Pulp Packaging Market?

North America is the third largest market for molded fiber pulp packaging, as per the report by Future Market Insights. In the latest analysis, Canada is anticipated to hold 12% of total sales in North American till the year 2031. Several manufacturers are seeking great opportunities and are focusing on business expansion.

For instance, manufacturers of molded fiber pulp packaging such as Hartmann Canada Inc., a leading egg packaging manufacturer, invested around US$ 15.8 Mn to expand production capacity at the company’s existing factory in Missouri, USA, during 2019-2020.

Key Takeaways from Molded Fiber Pulp Packaging Market

• Trays are estimated to hold more than 34% of the market share by 2031, owing to wide scope of applications and superior durability.
• In North America, the U.S. has emerged as a mature market owing to the presence of major food & beverage manufacturers. It will register incremental opportunity of US$ 774.1 Mn.
• Transfer molded pulp products are expected to expand at a CAGR of 5.4%. This pulp type offers manufacturers a better recyclable and responsible alternative to plastic.
• China leads Asia Pacific excluding Japan and is expected to reach a valuation of US$ 2.2 Bn in 2031.
• The U.K. will dominate Europe, surpassing Germany to reach 21% of the value share by 2031. Growth in the U.K. will be supported by investments in research, and positive prospects for imports.

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 “The global molded fiber pulp packaging market is driven by surge in demand for sustainable packaging solutions with protective packaging characteristics. These solutions also are considered ideal for logistics and transport,” says an FMI analyst. 

Stringent Regulations Will Support Molded Fiber Pulp Packaging Sales

As concerns regarding packaging waste continue to soar, regulatory bodies have implemented stringent measures to curb the use of single-use plastic. This has proven to be a boon for the molded fiber packaging industry. 

Manufacturers are discouraging the use of foam (EPS) in a variety of food and food service packaging services. Nearly a dozen U.S. cities including Washington DC, Seattle, and New York, have banned or taxed the use of polystyrene single-use products.

Thus, the molded pulp packaging industry is projected to have robust growth in these markets as regulatory bodies continue to discourage single-use plastics.

Who is Winning?

Leading players in the molded fiber pulp packaging market are largely focused on production development and capacity expansion strategies. Key players contribute approximately 20-30% of the global market.

Top players include but are not limited to Huhtamaki Oyj., Pactiv LLC, Brodrene Hartmann A/S, Henry Molded Products, Inc., ESCO Technologies Inc., UPF Technologies, Inc., ProtoPak Engineering Corporation and Celluloses De La Loire are the top players operating in the Molded Fiber Pulp Packaging market.

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Explore FMI’s Extensive ongoing Coverage on Packaging

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