Molded Pulp Packaging Market worth $4.4 billion by 2024 – Exclusive Report by MarketsandMarkets™

CITY, Country, 2021-Oct-28 — /EPR Network/ —

The report “Molded Pulp Packaging Market by Source Type (Wood & Non-wood), Molded Type (Thick Wall, Transfer, Thermoformed, Processed), Product (Trays, Bowls, Cups, Plates, Clamshells), End Use, and Region – Global Forecast to 2024″ The molded pulp packaging market size is projected to grow from USD 3.5 billion in 2019 to reach USD 4.4 billion by 2024, at a CAGR of 4.4%.

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High growth potential in the emerging Asia Pacific markets is expected to provide new growth opportunities to the players in the molded pulp packaging market. Asia Pacific is projected to be the fastest-growing market in the global molded pulp packaging market, with China as the country-level market, during the forecast period. Developing countries such as China and India are projected to be the emerging markets, rendering Asia Pacific to be the fastest-growing region in the molded pulp packaging market. These emerging economies focus on adopting the latest technologies and manufacturing processes in various industrial segments. The growth of the molded pulp packaging market in this region is driven by factors such as growth in developmental activities and rapid economic expansion. In addition to this, the rise in population in these countries presents a large customer base for food packaging, consumer electronic products, and household appliances; this, in turn, is expected to contribute to the growth of the molded pulp packaging market.

On the basis of molded type, the thick wall segment is projected to be the fastest-growing, as it provides excellent barrier properties to the product enclosed within. It is widely used in the packaging of non-fragile and heavy items. The latest trend among the key players in the molded pulp packaging industry is market consolidation through mergers and acquisitions. The transfer molded segment is expected to account for the largest market share, followed by the thermoformed fiber and thick wall segments.

On the basis of product type, the bowls segment is projected to grow at the highest CAGR. This is primarily because of its sustainability and its large consumption in the foodservice disposable industry. However, the tray segment is projected to occupy the largest market share during the forecast period in the molded pulp packaging market owing to the expected increase in its consumption for eggs and fruits in the near future and its various attributes such as light weight and recyclability.

The food packaging segment, by end use industry, accounted for the largest market share in the molded pulp packaging market. The electronics segment is projected to be the fastest-growing segment in the molded pulp packaging market. This trend is projected to continue throughout the forecast period, due to the increasing adoption of environmentally friendly packaging products by the end users of the electronic packaging industry for reasons such as excellent protection of during logistics.

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Browse in-depth TOC on “Molded Pulp Packaging Market”

105 – Market Data Tables

35 – Figures

138 – Pages

The major players include Brødrene Hartmann A/S (Denmark), UFP Technologies (US), Thermoformed engineered Quality (TEQ) LLC (US), Genpak LLC (US), and Eco-Products (US). Other players include Pro-Pac Packaging (Australia), PrimeWare-by PrimeLink Solutions (US), Fabri-Kal (US), Henry Molded Products (US), EnviroPAK Corporation (US), Pacific Pulp Molded (US), Sabert Corporation (US), Protopak Engineering Corporation (US), and Cellulose de la Loire (France). These companies have adopted strategies such as acquisitions, expansions & investments, and new product launches to cope with the increasing demand in the emerging markets.

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