Development of Recycled and Reusable Packaging to Drive Growth of the Global Molded Fiber Pulp Packaging Market
Thursday, March 14, 2019
In this report, Research Report Insights (RRI) delivers key insights on the global molded fiber pulp packaging market in its published report, titled “Moulded Fibre Pulp Packaging Market by 2027.” In terms of revenue, the global molded fiber pulp packaging market is estimated to expand at a CAGR of 5.8% over the forecast by 2027, owing to numerous factors, about which RRI offers thorough insights and forecasts in this report.
The market is segmented based on molded pulp type, product type, end use and region. Based on molded pulp type, the market is sub-segmented into thick wall, transfer molded, thermoformed fiber, and processed pulp. Among all the molded pulp type segment, transfer molded segment is expected to account for the highest market share, followed by thermoformed fiber segment over the forecast period. The transfer molded type segment is expected to register a significant CAGR of 6.5% during the forecast period in terms of value. The thermoformed fiber segment is projected to register the second highest CAGR of 5.5% over the forecast period. The factors fuelling demand for molded fiber pulp packaging are adoption of environment friendly & biodegradable packaging which ensures packaging excellence and ecological development along with cost effective medium for packaging due to its low disposal cost, minimum inventory and warehousing costs, and easy packaging process.
To provide in-depth insights on the pattern of demand for molded fiber pulp packaging, the market is segmented on the basis of product type such as tray, clamshell & container, boxes, end caps, and others (cups, and bowls). The tray product type segment is projected to grow at a significant CAGR of 6.2% over the forecast period in terms of value. The market has also been segmented by end use which includes consumer durables & electronics goods packaging, food & beverage packaging, cosmetic & beauty products packaging, healthcare product packaging, automotive parts packaging, transportation & logistics, and others (candles, flower packaging). Consumer durables & electronics goods packaging segment is further sub-segmented into tube light & bulbs, mobile phones, and others (DVD’s, Modems, and TV). Food & beverage packaging segment is further sub-segmented into egg packaging, wine packaging, fruit packaging, and others (vegetables, and frozen food).
Development of Recycled and Reusable Packaging to Drive Growth of the Global Molded Fiber Pulp Packaging Market: RRI
Food & beverage packaging end use segment is anticipated to be most attractive segment in terms of CAGR over the forecast period. Food & beverage packaging segment occupied 69% share in 2016. The threat of substitutes such as EPS, plastics materials in the industry coupled with raw materials such as paper or newsprint which contains the large percentage of short fibers and has been recycled many times produce the final product with short shelf life, weak, rigid and has low tensile strength are some of the factors which is expected to obstruct the growth of global molded fiber pulp packaging market.
A key trend defining the market is the reimagining of molded pulp packaging for various end use other than eggs packaging, and market consolidation through mergers & acquisitions. Moreover, technological advancements, and introduction of novel fibers such as sugarcane, bamboo fibers, and palm to improve the product efficiency and packaging quality in the molded fiber manufacturing industry.
This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to molded fiber pulp packaging manufacturers looking to enter the market. The Western Europe market dominated the molded fiber pulp packaging market, accounting for maximum revenue share of the market till 2016 end. Collectively, North America and APEJ markets accounted for 43.3% revenue share of the global molded fiber pulp packaging market in 2016. Among the emerging markets, Asia Pacific excluding Japan is estimated to exhibit a significant CAGR of 6.6% over the forecast period, followed by Latin America and Eastern Europe market, due to the demand for eco-friendly packaging products.
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Some of the key players in the global molded fiber pulp packaging market include UFP Technologies, Inc., ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC, Keiding, Inc., FiberCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd., Guangzhou NANYA Pulp Molding Equipment Co., Ltd., Pactiv LLC (Reynolds Group Holdings Ltd.), OrCon Industries Corporation, Celluloses De La Loire, Spectrum Lithograph, Inc., Dynamic Fibre Moulding (PTY) Ltd., Primapack SAE, Jiangyin Greenpacking Trade Co., Ltd., and Dongguan City Luheng Papers Company Ltd. In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively.