(MENAFN- GlobeNewsWire - Nasdaq) In 2023, the Molded Pulp Packaging market was valued at USD 3,819.57 Million and is expected to reach USD 6,067.47 Million at the CAGR of 4.8% during 2024-2032. Increasing demand and adoption of the eco-friendly packaging solution, rising consumer demand for sustainable solution fuelled by the stringent regulations have driven the growth of the market.
Gondia, India, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Latest research report published by IMIR Market Research , the market is majorly driven by rising demand for sustainable packaging solutions. Global Molded Pulp Packaging Market Size , Share & Trends Analysis Report by Molded Type (Thick Wall, Transfer Molded, Thermoformed Fiber, Processed Pulp), by Source (Wood pulp, Non wood pulp), by Product (Food, Trays, Clamshells, Cups, Plates, Bowls, Others), by End Use (Food Packaging, Food Service Disposables, Electronics, Healthcare, Industrial, Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD Billion) for the above segments.
Key Players and Competitor
A number of local and international players are making the market more competitive. There are over 8,000 large scale manufacturer for the molded pulp packaging across the globe. Some of the well-known international players are Molpack Corporation Ltd, YFY Jupiter, Pacific Pulp Molding, Best Plus Pulp Co, Enviropak, Hartmann, Smurfit Kappa, Western Pulp Products Company, Alta Global Inc, CMPC, Huhtamaki Ltd, Stora Enso, DS Smith,Sonoco Products Company. These companies are focused on product innovation and sustainability to capture larger market shares and meet evolving consumer preferences.
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Being produced from recycled paper and other natural fibers the global molded pulp packaging market is expected to gain huge demand in near future. Rising concern about the plastic waste products, led to gaining the momentum for the preferred alternative to plastic and other non- biodegradable materials will drive the market growth. Government regulations and increasing awareness will fuel the molded pulp packaging market growth.
Innovation is the key to success, thus a number of manufacturers are involved in enhancing the flexibility, durability, and water resistant property of the material creating a new opportunity for other sectors apart from food. Customized packaging solution for the premium products especially in industries such as cosmetics and personal care will open new opportunities. Continuous expansion of the e-commerce, need for sustainable, protective, and recyclable packaging solutions is surging across the developing countries in Asia Pacific and Latin America will attract the investments owing to the presence of huge untapped market.
The global molded pulp packaging market is segmented on the basis of raw material, molded type, source, product and application.
On the basis of application, the global molded pulp packaging market is segmented into food & beverages, healthcare, electronics, and others. Food & beverages accounts for the major share in the market and is expected to remain largest segment by 2032. Companies are increasingly adopting molded pulp for packaging eggs, fruits, trays, and beverage carriers due to its biodegradability and protective characteristics.
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As per the findings of IMIR Market Research , Asia Pacific dominates the global molded pulp packaging market coupled with the fastest growth during the forecast period of 2024-2032. Presence of Developing economies like India, China, and South East Asian countries have boosted the demand for the molded pulp packaging solutions. According to the China National Resources Recycling Association, Europe and North America product 19% and 18% of the plastic waste respectively. Whereas, in 2020, China alone product over 60 million tonnes plastic waste where, only 16 million tonnes are recycled which has led to increase the concern regarding the waste management. Continuously rising population, rising plastic waste concern and increasing demand from food sector has driven the molded pulp packaging market in Asia Pacific.
North America and Europe are focusing on investments in order to minimize the manufacturing cost of the products. High awareness, stringent regulations, spending capacity, and adoption of the products will drive the market in this region.
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Market Segmentations
By Raw Material Recycled Paper Virgin Pulp Hybrid Pulp
By Molded Type Thick Wall Transfer Molded Thermoformed Fiber Processed Pulp
By Source By Product Food Trays Clamshells Cups and Plates Bowls Others
By Application Food & Beverages Healthcare Electronics Others
What is included in the report?
Our in-depth market research study on global molded pulp packaging market includes: Data for over 20 country covering current and historical supply-demand assessment wherein market value and volume will be represented in USD Mn and Tonnes respectively Market Opportunities, Drivers, Restraint, and Trends across different regions Raw Material Analysis, Value Chain Analysis, Pricing Analysis, and Untapped Revenue Opportunity Analysis Competitive Landscape including Market Share Analysis, Company Profiling, Product Heat Map Analysis, Key Winning Strategies and others List of Buyers for Each Application Segments (Including Name, Email Address, Contact Details, Website) List of Raw Material Suppliers (Including Name, Email Address, Contact Details, Website) Detailed Data on Manufacturing Technology and Cost Structure Analysis along with the list of the regional machinery suppliers Macroeconomic Indicators, Microeconomic Indicators, Future Growth Prospects, Supply Chain Analysis, and many more
North America
Europe
Switzerland Belgium Germany France U.K. Italy Spain Sweden Netherland Turkey Rest of Europe
Asia-Pacific
India Australia Philippines Singapore South Korea Japan China Malaysia Thailand Indonesia Rest Of APAC
Latin America
Mexico Argentina Peru Colombia Brazil Rest of South America
Middle East and Africa
Saudi Arabia UAE Egypt South Africa Rest Of MEA
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