Molded Fiber Pulp Packaging Market Expanding at a Remarkable 5.8%.CAGR by 2026
Wednesday, August 07, 2019
Press release from the issuing company
Global Molded Fiber Pulp Packaging Market Scenario
Molded fiber pulp packaging is one of the sustainable types of packaging that is manufactured by using recycled paper wastes. Recycled material includes waste newspapers, papers, cardboard , etc. Molded fiber pulp is also known as molded pulp or molded fiber which is largely used for protective packaging.Molded fiber pulp packaging is recyclable and, thus considered a sustainable packaging material by Sustainable Packaging Coalition (GreenBlue), an environment based non-profit organization located in the U.S.The types of molded fiber pulp packaging on the basis of product type are thick wall, transfer molded, thermoformed, and processed pulp.
Eco-friendly and biodegradable molded pulp packaging is gaining wide acceptance and recognition. Molded fiber is a classic packaging material made from 100% recycled materials such as paperboard and newsprint. Moreover, the molded pulp fiber manufacturing process has no wastage, as all the residue and water are reused and recycled. The environment friendly and green molded fiber packaging meets customers’ needs and expectations in terms of both packaging excellence and ecological development and responsibility are some of the factors which is expected to boost the global molded fiber pulp packaging market growth over the forecast period.
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Market Value and Forecast
Packaging industry has witnessed major modifications over the past decade, packaging with molded fiber gains wide attention as it promotes environmental concern and green packaging. Moreover, it acts as a competitive advantage for the companies by differentiating their products from the competitors in order to gain market share and increase their presence in other business verticals and regions.
The global molded fiber pulp packaging market touched US$ 6,391.8 Mn in2016 and is expected to expand at a 5.8% CAGR over the forecast period (2016–2026).
The prime factors powering the demand for molded fiber pulp packaging market are environment friendly & biodegradable packaging which ensures packaging excellence and ecological development coupled with provide excellent vibration dampening & cushioning properties. Factors such as growing egg consumption across the globe, rising demand for customized molded fiber pulp product sand an alternative material to expanded polystyrene (EPS). Moreover, cost effective medium for packaging which ensures minimum inventory and warehouse cost, and technological advancements in molded fiber are some of the factors which is driving the growth of global molded fiber pulp packaging market in near future. However, threat of substitutes such as expanded polystyrene (EPS), plastics etc. along with lower strength threshold of short fiber used as a raw material in molded pulp packaging are some of the factors that may hamper the growth of molded fiber pulp packaging market during the forecast period.
Market Segmentation by Molded Pulp Type
On the basis of molded pulp type, the market is categorized in to thick wall, transfer molded, thermoformed fiber, and processed pulp. Among all the above stated segments,the transfer molded segment is expected to witness the highest growth over the forecast period.The latest trend among key players in the molded fiber pulp packaging industry is market consolidation through mergers and acquisitions. Transfer molding segment is expected to account for significant market share, followed by thermoformed fiber and thick wall segments respectively.
Market Segmentation,by Product Type
Based on product type, the market has been segmented intotray, clamshell & container, boxes, end caps, and others (cups, bowls).Tray segment controlled 32.7% revenue share of the market in 2015, and is expected to retain its dominance throughout the forecast period owing to increase in consumption of eggs and fruitsin near future along with its light weight and recyclability features.
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Market Segmentation, by End Use
The end use for molded fiber pulp packaging market can be classified as 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). In terms of value, food & beverage packaging segment accounted for 69.1% market value share in 2015 and will continue to dominate over the forecast period.Consumer goods packaging segment is anticipated to grow with relatively high CAGR in terms of value. This is attributed to increasing adoption of environmentally friendly packaging products among food & beverage packaging industry.
In this report, the global molded fiber pulp packaging market has been segmented into seven major regions, namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).Globally, in terms of revenue, Western Europe accounted for highest share of 26.2% in 2016, followed by North America. Meanwhile, revenue from the market in Asia Pacific excluding Japan (APEJ) is expected to expand at the highest CAGR of 6.6% over the forecast period. Moreover,Asia Pacific Excluding Japan (APEJ) is expected to be the most favourable region in terms of incremental opportunities lying ahead for high revenue generation. The mature markets i.e. Western Europe and North America are highly regulated but they created a substantial demand of molded fiber pulp packaging worth over US$ 1.7 Bn, and US$ 1.4 Bn in 2016, respectively. Latin America and Middle East & Africa collectively represented13.3% of global molded fiber pulp packaging market value share, which is US$ 849.4Mn in 2016.
Some of the major players in the global molded fiber pulp packagingmarket that are covered in this report areUFP 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.The report also describescompany-specific strategies related to keydevelopments and market consolidation initiatives.
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