The molded fiber trays market will register steady growth at 5% CAGR between 2022 and 2032. Molded fiber trays are sustainable packaging solutions manufactured by using recycled materials.
These recycled materials include waste newspapers, papers, cardboard, and others. Molded fiber trays are manufactured from recycled content and are recyclable, biodegradable, and compostable which adds to their various environmental benefits.
This helps in reducing the environmental impact which is a top priority at present for nearly all end-use industries. Molded fiber trays are produced using different molded pulp type based on the requirement of end-users such as transfer molded, thick wall, thermoforming pulp, and others. These trays are used by various end use industries such as consumer durables, food & beverage, healthcare, automotive, food services, electronics, and others.
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Moreover, molded fiber trays are used as a protective alternative due to their excellent vibration dampening & cushioning properties, which protect the product from damage during transportation. Thus, the increasing awareness and the growing consumer preference for eco-friendly, sustainable, and protective packaging solutions is anticipated to augment the sales of molded fiber trays.
“The surging focus on sustainable and eco-friendly packaging solutions will bolster the demand for molded fiber trays. Also, the innovation and development initiatives undertaken by the key players operating in the molded fiber trays are creating impressive prospects for growth”- says an FMI analyst.
Future Market Insights forecasts that there are various opportunities for the players operating in the molded fiber trays market, especially for the companies investing significantly in R&D to develop more efficient, innovative, and cost-effective solutions.
Key Takeaways from Molded Fiber Trays Market
•Transfer molded is the most preferred molded pulp type for manufacturing molded fiber trays. The target segment is projected to hold around 54% of the market value share by the end of 2032
•By product type, the multi cavity molded fiber trays segment is anticipated to expand at a CAGR of 6.0% during 2022-2032. As the multi cavity molded fiber trays can carry a variety of content in a single piece attracts the end use industries.
•As the consumer & end-users are more concerned about the environmental impact of various packaging formats, they prefer sustainable & recyclable packaging solutions along with protective packaging.
•North America and Europe are estimated to account for more than 50% of sales of molded fiber trays during the forecast period.
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Consumer Electronics Manufacturers Shifting towards Sustainable Packaging Solutions and Creating Growth Opportunities for Molded Fiber Trays Suppliers
Traditionally, consumer electronic devices come in a variety of packaging solutions, and each part is wrapped with seamless packaging so that it does not open or get damaged. This can frustrate consumers. Consumers nowadays demand sustainable, easy-to-open, and minimal packaging with effective protection for the product. Therefore, consumer electronics manufacturers are trying to focus on providing packaging solutions that enhance the consumer experience.
Moreover, due to the push by governments and regulations in various regions, consumer electronics manufacturers are adopting sustainable packaging solutions. This is creating growth opportunities for the molded fiber trays market. Consumer electronics manufacturers are shifting towards molded fiber for packaging their products as it is recyclable, versatile, and protects the products.
For instance, Samsung announced the replacement of its plastic holder trays with molded fiber in 2019. Apple also reduced its plastic packaging by 48% by opting for molded fiber. Thus, consumer electronics manufacturers shifting towards sustainable packaging solutions are creating growth opportunities for the molded fiber trays market.
Global Molded Fiber Trays Market Landscape
Huhtamaki Oyj, UFP Technologies, Inc., International Paper Company, TRIDAS, and FiberCel Packaging LLC are the key players operating in the molded fiber trays market. Pactiv LLC, buhl-paperform GmbH, Dentaş Paper Industry Inc., Pulp-Tec Limited, PAPACKS SALES GmbH, and others are also noticeable players in the molded fiber trays market. The tier 1 players in the global molded fiber trays market hold around 15-20% of the market.
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Global Molded Fiber Trays Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global molded fiber trays market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the molded fiber trays based on the molded pulp type (thick wall, transfer molded, thermoformed fiber, and processed pulp), product type (single cavity molded fiber trays and multi cavity molded fiber trays), and end use (consumer durables, food & beverage, healthcare, automotive, food service, and others (electronics, etc.)) across seven regions.
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The post Molded Fiber Trays Market is Projected to Reach US$ 4.3 Bn by 2032 appeared first on Future Market Insights.
