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Some of the major players operating in the molded pulp packaging industry are Molpack Corporation Ltd., YFY Jupiter, Pacific Pulp Molding, Best Plus Pulp Co. Enviropak, Hartmann, Smurfit Kappa, Western Pulp Products Company, Alta Global, Inc., CMPC, Huhtamaki, Ltd., Stora Enso, DS Smith, and Sonoco Products Company.
Selbyville, Delaware, Nov. 16, 2022 (GLOBE NEWSWIRE) — According to a new research report by Global Market Insights Inc., the global Molded Pulp Packaging Market value is expected to reach over USD 7 billion by 2032.
The accelerating growth of the packaged food and beverages sector owing to a noticeable spike in demand for shelf-stable and essential food products will boost the demand for molded pulp packaging during 2023-2032. The emergence of e-commerce as a major distribution channel for food, beverages, groceries, etc., and the increased consumption of packaged and processed food items have contributed to the burgeoning demand for packaging globally.
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Increasing usage in food catering applications to propel the demand for molded pulp plates
With regard to the product spectrum, molded pulp packaging market from plates segment is expected to showcase above 7.5% CAGR from 2023 to 2032. Plates made of molded pulp have a smooth texture and attractive aesthetics. Due to these attributes, molded pulp plates are widely used as an eco-friendly alternative to plastic tableware to serve food in catering events and restaurants. Moreover, these plates are available in varied shapes with any required number of food segregating indentations, are soak-proof, and have no wax lining. These characteristics, in line with their microwave & freezer-safe attributes, will propel segment share.
Eco-friendly benefits to push the adoption of industrial pulp molding
Molded pulp packaging market from industrial pulp molding segment is poised to witness more than a 7% growth rate through 2032. Industrial pulp molding techniques such as dry press have gained significant traction over the years owing to their innovative approach, flexibility, affordability, high-quality outcome, and throughput speed. The process makes use of wastepaper, heavy and unclean metals, cartons, etc., as raw materials, making it highly sustainable and eco-friendly. The increasing usage of dry molded pulp in personal care, beauty & cosmetics, and several non-food consumer goods packaging will transform the market dynamics.
Browse key industry insights spread across 250 pages with 499 market data tables and 24 figures & charts from the report “Molded Pulp Packaging Market Statistics by Product (Trays, Cups, Clamshells, Plates, Splitters), Type (Rotary Molding Pulp, Fiber Thermoforming/Wet Press, Industrial Molding Pulp/Dry Press), and Industry (Eggs, Agriculture, Food & Food Service, Electronics, Appliances, Other Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/molded-pulp-packaging-market
Superior attributes to drive product demand across the electronics industry
In terms of industry, the electronics segment is slated to expand at over 8% CAGR between 2023 to 2032, claims the report. Across the electronics industry, molded pulp packaging is used for a variety of consumer durables and FMCG products, such as printers, laptops, set-top boxes, air conditioners, and other electronic components. These packaging materials offer superior protection and eliminate the prospects of commodity breakage throughout the supply chain operations from storage to transportation, thus bolstering their demand over the forthcoming years.
Supportive regulatory framework to accelerate business growth across Europe
Europe molded pulp packaging market is expected to record above 8% gains and amass considerable market share by 2032. The regional expansion is supported by the dramatic consumer shift toward eco-friendly and sustainable products owing to the ongoing climate change and rising environmental impact. Regional authorities have also been taking necessary measures to maximize the use of plastic-free products.
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New product developments to aid the competitive landscape
Leading players in the molded pulp packaging market include Smurfit Kappa, YFY Jupiter, Huhtamaki, Ltd., Pacific Pulp Molding, Molpack Corporation Ltd., Best Plus Pulp Co. Enviropak, Stora Enso, Western Pulp Products Company, DS Smith, Alta Global, Inc., CMPC, Hartmann, and Sonoco Products Company. These companies have been launching innovative products as part of their key growth strategy.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
CONTACT: Contact Us: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: sales@gminsights.com
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.
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