Moulded Fibre Pulp Packaging Market will reach at a CAGR of 5.8% from 2016-2026
Future Market Insights (FMI) in its upcoming outlook titled “Moulded Fibre Pulp Packaging Market: Global Industry Analysis and Opportunity Assessment, 2016–2026” projects a steady growth in demand for moulded fibre pulp packaging. The global market for moulded fibre pulp packaging is heavily driven by the robust adoption of eco-friendly and biodegradable packaging solution. Moulded fibre pulp offer packaging convenience and is cost effective having minimum warehousing or inventory costs. Apart from egg packaging, leading players in the market are exploring into other end use industrial packaging, which is identified as a key trend defining the market growth in recent times. Moreover, technological advancements, and introduction of novel fibers such as sugarcane, bamboo fibers, and palm to improve the product efficiency and moulded fibre packaging quality is expected to play a crucial role in further development of the market during the assessment period.
According to the projection, global market for moulded fibre pulp packaging is set to witness a CAGR of 5.8% in revenue terms between 2016 and 2026. However, alternative packaging materials such EPS and plastics may inhibit widespread adoption of moulded fibre pulp packaging. In addition, lower strength threshold of short fibre used as a raw material in moulded pulp packaging may negative impact the overall market growth over the next couple of years.
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Global Moulded Fibre Pulp Packaging: Segment Highlights
By product type, the tray segment is anticipated to command for around 34% value share of the market over 2026. The growth of the segment is primarily attributed to the increased consumption of eggs and fruits worldwide.
On the basis of molded pulp type, demand for transfer molded pulp is foreseen to remain high throughout the projection period. The segment is slated to account for a staggering 56% value share of the market by 2026-end
Based on end user, food & beverage packaging is expected to be the predominant segment of the market during the forecast period. In 2016, the segment accounted for around 69% market share. Demand for molded fiber pulp packaging from consumer durables & electronics goods manufacturing sectors is expected to gain maximum traction over 2026.
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Western Europe will continue to offer lucrative market opportunities throughout the assessment period
In 2016, the market in Western Europe accounted for a significant contribution to the global market revenue. Meanwhile, North America and APEJ collectively accounted for over 43.3% revenue share of the market in the same years. Notably, the market in Asia Pacific excluding Japan is expected to expand at a healthy CAGR of 6.6% over the forecast period. Owing to increasing concern over use of non-degradable packaging materials, demand for moulded fibre pulp is also anticipated to grow swiftly in Latin America and Eastern Europe.
Key players operating in the global moulded fibre 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. Most of these companies are implementing strategies such as mergers and acquisitions, and improving product portfolio in order to further consolidate their market position.