Molded Pulp Packaging Market to Attain Huge Value of USD 6.1 billion by 2028

Molded Pulp Packaging Industry Overview

The global molded pulp packaging market size was valued at USD 3,811.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028.

 

Growing demand for sustainable packaging solutions from environment-conscious consumers and stringent regulations related to plastic usage is expected to drive the market over the forecast period. Molded pulp packaging was limited to egg trays for many years; however, the demand has increased in other applications as well due to its sustainable properties. It is completely renewable and biodegradable as it is made from wood fiber and cellulose, thus, meeting the criterion set forth by government agencies and organizations.

 

The U.S. consumer electronics retail sales are expected to reach USD 461 billion in 2021 as per data published by the Consumer Technology Association (CTA). Such huge demand for consumer electronics, when compared with other industries, will create the need for safe packaging solutions. In addition, end caps are widely utilized in the packaging of non-electronic products, such as personal care, cosmetics, and medicines, which is expected to further drive the market in the U.S. over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Molded Pulp Packaging Market

 

The molded pulp packaging is made from various raw materials that influence the texture, color, and performance of packaging. Most of the molded pulp products are manufactured with the use of water mixed with cellulose fibers, which form an aggregate called the pulp. The common sources of cellulose fibers are recycled paper, recycled cardboard, and natural fibers. Depending on the desired products including precision and plain molded products, different raw materials are utilized; for example, recovered papers are mostly used for plain molding products. The manufacturing process of molded pulp packaging usually differs with respect to the drying methods including heated oven, impulse drying, hot air convection drying, and microwave drying.

 

Although the pulp is a sustainable material for manufacturing packaging solutions, it can be substituted by bioplastics as these offer superior properties, such as aesthetic appeal and moisture barrier. Bioplastics are derived from renewable sources, such as cellulose, starch, vegetable fats, and vegetable oils, which is expected to create challenges for the molded pulp packaging products.

 

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

• Cellulose Fiber Market – The global cellulose fiber market size was valued at USD 20.61 billion in 2015. The market is expected to witness significant growth on account of the growing demand for environment-friendly, versatile, biodegradable, and cost-effective fibers globally.
• Bioplastics Market – The global bioplastics market size was valued at USD 10.2 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 17.1% from 2022 to 2030.

 

Molded Pulp Packaging Market Segmentation

Grand View Research has segmented the global molded pulp packaging market on the basis of source, molded type, product, application, and region:

 

• Molded Pulp Packaging Source Outlook (Revenue, USD Million, 2017 – 2028)
  • Wood Pulp
  • Non-wood Pulp

 

• Molded Pulp Packaging Molded Type Outlook (Revenue, USD Million, 2017 – 2028)
  • Thick Wall
  • Transfer
  • Thermoformed
  • Processed

 

• Molded Pulp Packaging Product Outlook (Revenue, USD Million, 2017 – 2028)
  • Trays
  • End Caps
  • Bowls & Cups
  • Clamshells
  • Plates
  • Others

 

• Molded Pulp Packaging Application Outlook (Revenue, USD Million, 2017 – 2028)
  • Food Packaging
  • Food Service
  • Electronics
  • Healthcare
  • Industrial
  • Others

 

• Molded Pulp Packaging Regional Outlook (Revenue, USD Million, 2017 – 2028)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Market Share Insights

• January 2020: Sonoco Products Company acquired Plastique Holdings, Ltd. and Thermoform Engineered Quality LLC, together known as TEQ, a manufacturer of thermoformed packaging products. It was acquired from ESCO Technologies, Inc. for an amount of USD 187 million. This acquisition has further widened the product offerings from Sonoco Products Company.
• December 2019: Huhtamaki launched a packaging product line called Future Smart Duo Fiber Lid suitable for cold and hot beverages. It is a sustainable solution produced using a mixture of bagasse and wood fibers.

 

Key Companies profiled:

Some prominent players in Molded Pulp Packaging market include,

• Brodrene Hartmann A/S
• Huhtamako Oyj
• UFP Technologies, Inc.
• Thermoform Engineered Quality LLC
• Genpak, LLC
• Eco-Products, Inc.
• Fabri-Kal
• Sabert Corp.

 

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