Research Nester released a report titled “Global Molded Fiber Packaging Market: Global Industry Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global molded fiber packaging market in terms of market segmentation by mold type, source, product and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Molded Fiber Packaging products are being utilized primarily in the case of handling and packaging several products that are being manufactured. The protection is provided to the product while they are being shipped as well as they are highly convenient for use by customers. Moreover, they are a highly cost-effective way of packaging for individuals that also serve to benefit the environment. The global molded fiber packaging market is estimated to grow at a global CAGR of 5.0% over the forecast period, i.e., 2020-2027.
The market is segmented by mold type, source, product and by region. On the basis of mold type, the market is segmented into thick wall, transfer, thermoformed and processed. Thick wall forming part of mold type segment is projected to grow at the highest CAGR of 5.7% over the forecast period, owing to factors such as the heavy-walled molded which are made from recycled paper and mixed with Kraft paper as raw material, normally find their use more frequently in packaging of heavy items. On the other hand, wood pulp-based falling under source segment is predicted to grow at a significant rate and is estimated to attain a market size of USD 1924.50 million by end of 2027. Additionally, wood pulp being compostable can enhance the level of carbon which will be able to balance the nitrogen content in the composted food. Moreover, cellulose based fibers being sourced from wood from which production of paper and cardboard is done is more frequently observed in several nations. All these factors are predicted to drive the growth of the market in the coming years.
The global molded fiber packaging market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific is predicted to occupy the highest market share for molded fiber products, on account of factors such as rise in the number of food services and restaurant to-go packaging, in which there is heavy demand in large numbers for such packaging materials using molded fiber products in the region primarily in developing countries that have been reporting sizeable consumption of such molded fiber products. The market in North America and Europe are predicted to grow significantly, with demand for protective packaging increasing significantly in North America, in addition to concerns over environment degradation that has compelled individuals in the region to switch to molded fiber packaging that is eco-friendly and sustainable and the market in Europe having several requirements to be followed with regard to food safety as well as product quality, apart from food companies that are focusing on maintaining brand image, all of which are anticipated to drive the growth of the global molded fiber packaging market over the forecast period.
Growing Food Services Industry and Restaurant-To-Go Packaging
The growth of the food services industry has been rapid in the last few years, especially in countries such as Indonesia, India and South Africa. The growing personal disposable incomes of the population in these nations accompanied by growth in consumer spending in the region has been playing a significant role in the growth of the food services industry. Additionally, many other factors such as the rising number of females entering the global workforce, apart from other factors such as growth in usage of technology in consumer-focused industries, apart from increasing levels of urbanization and the continuous bustling activities of consumers have all been major factors that are increasingly estimated to boost the growth of the market over the next decade.
This report also provides the existing competitive scenario of some of the key players of the global molded fiber packaging market which includes company profiling of Heracles Packaging Co. S.A., James Cropper Plc, Huhtamaki, Brodrene Hartmann A/S, Southern Champion Tray, Henry Molded Products, Inc., Buhl Paperform, Enviropak, UFP Technologies and Keiding, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global molded fiber packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.