Molded Pulp Packaging Market To Reach USD 9.2 Billion By 2032 | DataHorizzon Research
The molded pulp packaging market size was valued at USD 5.2 Billion in 2023 and is expected to reach a market size of USD 9.2 Billion by 2032 at a CAGR of 6.6%.
Fort Collins, Colorado, April 17, 2024 (GLOBE NEWSWIRE) --*Environmental concerns and hazards of extensive use of plastic use to propel the molded pulp packaging industry.*
Growing concerns for the environment and a heightened understanding of the detrimental effects of plastic packaging have spurred a significant transition towards eco-conscious and sustainable packaging options. As per research conducted by Accenture, approximately 60% of consumers worldwide have actively chosen sustainable products within the past six months. Molded pulp packaging, crafted from recycled paper and other plant-derived materials, has become a favored substitute for traditional plastic packaging. The United States Environmental Protection Agency (EPA) reports that paper and paperboard comprised over 65% of all packaging materials recovered for recycling in the United States. The biodegradable and compostable properties of *molded pulp packaging* have fueled its adoption across diverse sectors, encompassing food and beverage, electronics, and healthcare industries.
The exponential expansion of e-commerce has played a pivotal role in driving up the demand for molded pulp packaging. As online shopping continues to soar, the necessity for robust packaging solutions capable of enduring the challenges of shipping and handling has escalated. Molded pulp packaging stands out for its superior cushioning and shock-absorption capabilities, positioning it as the prime option for safeguarding delicate merchandise throughout transit.
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*Segmentation Overview:*
*The molded pulp packaging market has been segmented into molded type, source, product, end-user, and region.*
*Trays account for significant growth in the future.*
· The market segmentation by product includes trays, end caps, bowls and cups, clamshells, plates, and others. Tray products will account for versatile growth in the future. Molded pulp trays are extensively used in the food and beverage industry to package fruits, vegetables, eggs, and other delicate items. The increasing demand for sustainable and biodegradable packaging solutions in the food industry, along with the convenience and stackability of molded pulp trays, has contributed to their market dominance.
*The thick wall constituted the largest sub-segment in 2023.*
· Based on the market segmentation by molded type, the thick wall was the largest sub-segment in 2023. Thick wall molded pulp packaging is widely used in the food and beverage industry for its durability and ability to protect products during transportation and storage. The increasing demand for sustainable packaging solutions in the food and beverage sector and the excellent cushioning properties of thick wall molded pulp have driven its market dominance.
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*Molded Pulp Packaging Market Report Highlights:*
· The molded pulp packaging market growth is anticipated at a *CAGR of 6.6% by 2032.*
· Demand for eco-friendly packaging solutions drives the molded pulp packaging industry in the foreseeable future.
· The European molded pulp packaging market is projected to grow rapidly due to stringent government regulations that promote sustainable packaging.
· Some prominent players in the molded pulp packaging market report include Huhtamaki, Brodrene Hartmann, UFP Technologies, Thermoformed Engineered Quality (TEQ), Genpak, Eco-Products, Fabri-Kal, EnviroPAK Corporation, Sabert Corporation, Vernacare, Berkley International, and Pactiv LLC.
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