The global molded pulp packaging market size is expected to reach USD 5.26 billion by 2028 according to a new study by Polaris Market Research. The report “Molded Pulp Packaging Market Share, Size, Trends, Industry Analysis Report, By Source (Wood Pulp, Non-Wood Pulp); By Type (Transfer, Thick Walled, Processed, Thermoformed); By Product (Trays, Cups and Bowls, End Caps, Clamshells, Plates, Bowls); By End-Use; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for thermoformed molded pulp packaging is expected to increase during the forecast period owing to its compostable, recyclable, and biodegradable nature. The increasing adoption of thermoformed packaging is the result of stable raw material supply and price, global environmental issues, and modifying buying habits of consumers. Thermoformed molded paste is being used in the healthcare sector for single use packing of surgical instruments for limiting the spread of germs.
The wood market segment dominated the global market for molded packing in 2020. Growing environmental concerns and increasing initiatives to reduce manufacturing waste has increased its adoption worldwide. Wood pulp packing involves the use of low-cost raw material, formation to required shape with no assembly required, and chemical-free pulping process.
Some of the major companies include Genpak LLC, UFP Technologies, Primeware- By Primelink Solutions, LLC, Fabri-Kal, Huhtamaki OYJ, EnviroPAK Corporation, Sabert Corporation, Protopak Engineering Corporation, Brødrene Hartmann A/S, Henry Molded Products, Eco-Products, Pro-Pac Packaging Limited, Cellulose De La Loire, TEQ LLC, Pacific Pulp Molding, and Thermoformed Engineered Quality LLC.
The demand for clamshells is expected to increase significantly during the forecast period. The rising popularity of clamshells is attributed to their ease, convenience, strength, and flexibility. Clamshells are used to secure products from poor storage conditions and improper handling during transport. The food industry is increasingly using clamshells to protect food products against airborne contaminants and preserve their freshness. Clamshell boxes can be customized according to customer requirements to accommodate diverse products and improve brand appeal.
The market is segmented into food packing, personal care, industrial, food service, healthcare and pharmaceutical, electronics, and others based on end-user. The food packaging segment accounted for a major market share in the global molded pulp packing industry in 2020. Increasing awareness regarding the use of sustainable packaging solutions has played a large part in the food packing market.
Molded packaging is easily recyclable and biodegradable which results in less waste being consigned to landfills. The increase in demand for ready meals owing to its affordability, ease of preparation, and attractiveness for a single-person household would drive the growth of this segment. The emerging nations have been characterized by rising disposable incomes and a burgeoning middle class.
Consumers in the emerging nations have shown greater nutritional awareness and interest in wellness foods, which combined with an increased demand for sustainable packing boosts the adoption of molded pulp packing.
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Asia Pacific emerged as the largest market in 2020 and is expected to maintain its dominance over the forecast period. There has been an increasing demand for molded pulp packing from personal care, food service, and healthcare sectors in the region. The increasing population, growing inclination of consumers towards beauty trends, and rising demand for sustainable packaging solutions boost the market growth for molded packaging.
The increasing environmental concerns and compliance with government norms and regulations boost the market growth for molded packaging. Brands operating in the market are taking initiatives to offer brand differentiation and value to the consumer, while also providing necessary information about the packaged goods, and offering sustainable and eco-friendly packaging solutions.