The latest market report published by Credence Research, Inc. “Molded Pulp Packaging Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the molded pulp packaging market was valued at US$ 3.30 Bn in 2018 and expected to grow at a CAGR of 4.5% during the forecast period from 2019 to 2027.
“Growing demand for eco-friendly packaging worldwide will drive the demand for Molded Pulp Packaging Market”
Growing demand for recyclable material and eco-friendly packaging solutions around the world are the major factors for the growing demand of molded pulp packaging solutions worldwide. The surge in demand for molded pulp packaging from emerging markets such as India, China, Brazil, and others is another major factor projected to enhance the global molded pulp packaging market over the forecast period. The surge in ban on single-use plastic coupled with growing demand for reusable & sustainable packaging solutions are further projected to drive the global market in the years to come. The growing use of molded pulp packaging solutions in numerous industries such as food & beverages, electronics, healthcare and others is anticipated to drive the market growth throughout the forecast period. In 2018, Asia Pacific had highest share in the global market and projected to continue its dominance over the forecast period.
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- In February 2020, Brodrene Hartmann A/S entered into an agreement to acquire molded fibre packaging provider Mohan Fibre Products Pvt. Ltd. With the acquisition of Mohan Fibre Products Pvt. Ltd., Brodrene Hartmann A/S to enhance their geographical presence in Asia Pacific.
Key Market Movements:
- Worldwide, the molded pulp packaging market is increasing at a CAGR of 4.5% in terms of revenue for the projected period from 2019 to 2027
- In 2018, Asia Pacific dominated the global molded pulp packaging market owing to growing demand from emerging nations and growing healthcare, electronics, and food packaging industry in the region. Growing convenient and healthy packaging concern is another factor projected to drive the global market
- In 2018, North America has a substantial share in the global molded pulp packaging market. Rising plastic recycling and an increase in the use of substantial packaging in the healthcare industry across the region are some major factors for a substantial share of the region.
- Based on end-use, the food packaging has the highest share in the market in 2018 owing to increased manufacturer’s focus on sustainable packaging along with the rising availability of thermoformed and processed molded pulp products.
- Acquisitions and enhanced geographical presence are anticipated to be the key strategies
List of Companies Covered:
- Brødrene Hartmann A/S
- Cellulose de la Loire
- Protopak Engineering Corporation
- Pacific Pulp Molded
- Sabert Corporation
- UFP Technologies
- EnviroPAK Corporation
- Thermoformed engineered Quality
- Henry Molded Products
- Genpak LLC
Browse the full report at https://www.credenceresearch.com/report/molded-pulp-packaging-market