Global Molded Fiber Packaging Market: Use of sustainable, environment-friendly protective packaging solutions is anticipated to boost market growth during the forecast period.
In this MRFR market note, the global molded fiber packaging market is discussed at length. MRFR forecasts a CAGR of 5.40% for the global molded fiber packaging market from 2022 to 2030. The global molded fiber packaging market is driven by various factors, such as growing demand in end-use industries and use of sustainable, environment-friendly, protective packaging solutions. However, inefficient raw material sourcing and management might hamper market growth during the forecast period. The global molded fiber packaging market is expected to grow at 4.90% CAGR during the forecast period.
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Based on product, the trays segment is expected to register a CAGR of 5.56% during the forecast period.
The trays segment is expected to register a CAGR of 5.56% during the forecast period. A molded fiber tray is a type of protective packaging that is used across various industries for providing cushioning to products during the shipping and storing processes. Robust product presentation, efficient protection, and enhanced shelf-life are some of the benefits associated with molded fiber trays. This type of molded fiber packaging can be molded into any shape, which makes it easy to incorporate them into the internal structure of a package for separating and protecting each part and preventing any potential corrosion or contamination in the materials. These trays are comparatively cheap and environmentally friendly as they are formed using recycled materials, which can be re-recycled after their usual lifecycle. This type of molded tray is used for packaging various products such as healthcare products, automotive & mechanical parts, food & beverages including eggs and wine, due to its cost-effectiveness, biodegradability, and flexibility.
Based on type, the transfer molded segment dominated the market with a share of 51.16% in 2018.
The transfer molded segment dominated the market with a share of 51.16% in 2018. Transfer molded packaging pulp is slightly thinner compared to the thick-walled variety. It is manufactured using one forming mold and one transfer mold, with a wall thickness that ranges between approximately 1/8 and 3/16 inches (3mm and 5mm). The pulp is transferred from one mold to another during the manufacturing process, which is why it is called transfer molded pulp. Therefore, both the front and back surfaces are finished properly, which give them a polished look and texture.
On the basis of source, the wood pulp segment is anticipated to reach USD 3,434.0 million by 2030.
The wood pulp segment is anticipated to reach USD 3,434.0 million by 2025. Molded fiber products are primarily made using wood fiber, which is a bio-based resource that is obtained from biomass. Wood fiber is a renewable resource, which does not damage forests and cause deforestation or the loss of biodiversity. Recyclability of the fiber depends on the wood species.
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Based on end use, the food & beverage segment accounted for the largest market share of 44.95% in the global market in 2018.
The food & beverage segment accounted for the largest market share of 44.95% in the global market in 2018. Molded fiber packaging products are used for the packaging fast-food, eggs, fruits, vegetables, and glass bottles such as wine. Products such as clam-shell food containers, cup carriers, bowls, plates, food & serving trays, egg trays and cartons, fruit, vegetable trays, and locator trays for bottled products, wine, and jellies are widely used in the food & beverage industry. Furthermore, for shipping and transporting wine and other similar beverages, molded pulp is a less expensive and environmentally friendly alternative compared to expanded polystyrene (EPS) and vacuum formed PET and PVC.
The Asia-Pacific region accounted for the largest share of 5.71% in the global market in 2018, which is majorly attributed to use of sustainable, environment-friendly protective packaging solutions.
The Asia-Pacific region accounted for the largest share of 5.71% in the global market in 2018, which is majorly attributed to use of sustainable, environment-friendly protective packaging solutions. Asia-Pacific comprises countries such as China, Japan, India, and the rest of Asia-Pacific. The electronics manufacturing market in the industry is expected to grow rapidly during the forecast period due to the presence of a large number of OEMs in the region. The low cost and the availability of raw materials and labor bodes well for the industry in the region. Additionally, Asia-Pacific is also the fastest-growing region in terms of the food & beverage industry. Over the years, it is being observed that the region is emerging as a global automotive hub. It has become a major consumer and supplier of automobiles. As molded fiber packaging products are used for maintaining the freshness, extending the shelf life, and reducing spoilage and wastage of products. They can be molded in any three-dimensional shape. All these factors cumulatively contribute to the growth of the molded fiber packaging market in Asia-Pacific.
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Company Landscape
Huhtamäki Oyj (Europe), Brødrene Hartmann A/S (Europe), UFP Technologies, Inc. (US), Henry Molded Products Inc. (US), Robert Cullen Ltd (UK), Pacific Pulp Molding, Inc. (US), EnviroPAK (US), Heracles Packaging Co. S.A. (Europe), Primapack SAE (Egypt), and Keiding, Inc., (US) among others are some of the key companies operating in the global molded fiber packaging market.
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