According to a recently published report by Research Nester on “Molded Fiber Packaging Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the molded fiber packaging market in terms of market segmentation by type, by end use 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.
The molded fiber packaging market is segmented by type, end use and region. On the basis of type, the molded packaging market is segmented into thick wall, transfer, thermoformed and processed. On the basis of end use, the molded packaging market is segmented into food & beverages, electronic, personal care and others. The molded fiber packaging market is anticipated to record a CAGR of around 7.6% over the forecast period i.e. 2019-2027. By end use, the food & beverage segment is anticipated to have leading shares on account of introduction of innovative packaging materials to avoid the contamination of food products and the amplified demand for packaged food, owing to factors such as ease of use and deployment of environmental-friendly products.
North America is expected to grow significantly on the back of increase in the consumption of packaged foods, ready meals, and junk food with rise in the disposable income of the consumers, growing demand for consumer goods such as household products and food and beverages. Additionally, a rise in the demand of paper packaging is further expected to increase with the growing awareness regarding biodegradable packaging solutions and the pressure from government authorities. Asia Pacific is expected to grow at a high pace during the forecast period owing to changing spending priorities of the consumers attributing to rapid urbanization and increased annual disposable income. Moreover, the changing lifestyle of the consumers is also increasing the customer influence towards sustainability.
Trend towards sustainability
Being the follower of the sustainability trend, the packaging developers are expanding the possibilities available with molded fiber packaging applications. More of the retailers, manufacturers and consumers in markets are adopting sustainable molded fiber packaging as its proficiencies range from shipping wine bottles and retail packaging for cosmetics to protective packs for jarred candles, cushions for computers and inserts for mobile phones. Companies are spending more on research and development to come up with standardized design to meet the growing demand for eco-packaging with high quality features which is expected to boost the growth of the molded fiber packaging market.
However, high capital requirement for maintenance of molded fiber equipment is expected to operate as a key restraint towards the growth of molded fiber packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the molded fiber packaging market which includes company profiling of Huhtamaki, UFP Technologies, Inc., Moulded Fibre Product Ltd., Henry Moulded Products Inc., Brodrene Hartmann A/S, Cullen Packaging Ltd., EnviroPAK Corporation, Heracles Packaging Company SA, Keiding, Inc. and Hurley Packaging of Texas. 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 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.