Anticipated to reach a valuation of US$ 9.0 billion in 2024, the molded fiber pulp packaging market exhibits steady growth, having been valued at US$ 8.6 billion in 2023. Projected to maintain a Compound Annual Growth Rate (CAGR) of 5.4% from 2024 to 2034, the market is expected to witness a surge in demand, reaching an estimated US$ 15.1 billion by 2034.
The United Kingdom’s molded fiber pulp packaging market is poised for a notable expansion with a projected Compound Annual Growth Rate (CAGR) of 4.5% by 2033. The food and beverage industry plays a substantial role in driving this growth, as manufacturers and retailers in the sector prefer molded fiber pulp packaging for its ability to maintain food freshness and preserve quality during transportation and storage. The increasing consumption of food and beverage items, spurred by changing consumer trends toward healthier eating, is a key factor positively influencing the molded fiber pulp packaging market.
Moreover, the market is expected to witness significant growth due to the government’s emphasis on reducing plastic waste and promoting sustainable packaging practices in the United Kingdom. Aligning with European directives for Packaging & Packaging Waste, the demand for molded fiber pulp packaging is further propelled by sustainability initiatives, with products meeting compostability standards contributing to the market’s expansion in various European regions, including the United Kingdom.
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Key Players
• UFP Technologies, Inc.
• FiberCel Packaging LLC
• Huhtamaki Oyj
• Pactiv LLC
• Henry Molded Products, Inc
• EnviroPAK Corporation
• Spectrum Lithograph Inc.
• ESCO Technologies Inc.
• ProtoPak Engineering Corporation
• Brodrene Hartmann A/S
• OrCon Industries Corporation
• Keiding, Inc.
• Pacific Pulp Molding, LLC
• Guangxi Qiaowang Pulp Packing Products Co, Ltd.
• Celluloses De La Loire
• Dynamic Fibre Moulding (PTY) Ltd.
• Primapack SAE
• Green packing Environmental Protection Technology Co., Ltd.
• Dongguan City Luheng Papers Company Ltd.
• Guangzhou NANYA Pulp Molding Equipment Co., Ltd.
Demand for Primary Packaging Affecting Growth in Molded Fiber Pulp Packaging Market
The demand for primary packaging is playing a crucial role in influencing the growth of the molded fiber pulp packaging market. As businesses and consumers alike prioritize sustainable and eco-friendly packaging solutions, molded fiber pulp has gained significant traction. This material is derived from recycled paper and is known for its biodegradability and compostability.
The emphasis on environmentally friendly packaging has led to a surge in the adoption of molded fiber pulp packaging across various industries. Primary packaging, which directly encases and protects the product, is a key focal point for companies seeking sustainable alternatives. Molded fiber pulp offers a viable solution as it not only provides adequate protection to the products but also aligns with the growing environmental consciousness among consumers.
The molded fiber pulp packaging market is witnessing increased demand as businesses recognize the importance of reducing their environmental footprint. The packaging industry is responding to consumer preferences for sustainable options, and molded fiber pulp aligns well with these expectations. Its biodegradable nature makes it an attractive choice for companies looking to enhance their sustainability credentials.
Key Takeaways
• In 2022, the United States ruled the molded fiber pulp packaging market, with a share of 16.9%.
• The molded fiber pulp packaging market increased at a 3.1% CAGR between 2016 and 2022, citing FMI’s study.
• The molded fiber pulp packaging market was expanding, with a value of US$ 8.14 billion in 2022.
• The expansion in China is anticipated to expand at an adequate CAGR of 7.2% by 2033.
• In 2022, Japan was expanding significantly in the molded fiber pulp packaging market, with a share of 4.9%
• By 2033, the molded fiber pulp packaging sector is likely to increase in India with a size of US$ 1085.9 million.
• The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 4.5% by 2033.
• Based on packaging type, the 4 cups drink carriers led the market share of 45.7% in 2022.
• Based on molded pulp type, the transfer molded pulp segment led the market share in 2022 and continues to dominate the sector during the forecast period.