Molded Fiber Packaging Market Overview
The molded fiber is a packaging material which is used in making protective packaging for many products such as in food and beverage, electronics and personal care sectors. It has a very low impact on the environment, excellent cushioning properties, individual design and 100% ability to be recycled. It is biodegradable, sustainable and reduces input and disposable costs compared to petroleum-based materials. Molded fiber package is considered as the ideal package for many products for different industrial applications. The products made of molded pulp can be made waterproof with the help of a spray or dip coating of wax. It is made up from recycled paperboard and newsprint. Molded fiber pulp packaging is considered as a cost-effective medium of packaging owing to its low disposal costs, minimum inventory and warehousing costs and easy packaging process. Molded fiber packaging also helps in reduction of eco-tax.
Government is promoting environmentally friendly products and coming up with rules and regulations for sustainable packaging materials. This has emphasized the packaging manufacturers in order to implement policies and practices that demand sustainability and innovation.
Earlier the molded fiber packaging was used for only eggs. Gradually, the companies have realized the cost effectiveness and its other benefits such as low disposable cost, warehousing cost and as well as its recyclable nature which is being used widely in the food and beverages industry.
Market Size and Forecast
The molded fiber packaging market is anticipated to record a CAGR of around 7.6% over the forecast period i.e. 2019-2027. The market is segmented by type and end use. By end use, the food & beverage segment is anticipated to have leading share 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.
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. Based on end use, the molded packaging market is segmented into food & beverages, electronic, personal care and others. CLICK TO DOWNLOAD FREE SAMPLE REPORT
With increasing environmental awareness among the people and rising urbanization to increase consciousness for better packaging, the molded fiber packaging market is likely to observe substantial growth. The people are shifting their preferences towards environment friendly packaging which is expected to boost the growth of the molded fiber packaging market.
The molded fiber packaging market not just only protects but also prevents the products from breakage during the transit across the supply chain. The protection and prevention of products with the help of molded fiber packaging is expected to boost the growth of the molded fiber packaging market.
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 the market 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 the standardized design in order 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.
High Capital Requirement
Maintenance of molded fiber equipment is expensive and requires high capital which is expected to impede the growth of the molded fiber packaging market.
Our-in depth analysis of the molded fiber packaging market includes the following segments:
By End Use
On the basis of regional analysis, the molded fiber packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to grow significantly on the back of increase in the consumption of packaged foods, ready meals, and junk food. With the rise in the disposable income of the consumers, growing demand for consumer goods such as household products and food and beverages tends to intensify the molded fiber packaging market growth. Additionally, a rise in the demand for 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 consumer attributing to rapid urbanization and increased annual disposable income. Besides this, changing lifestyle of the consumers is also increasing their preferences towards sustainability. Europe is expected to grow significantly attributing to the growing demand for packaged foods.
The molded fiber packaging market is further classified on the basis of region as follows:
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