SAN FRANCISCO, Jan. 15, 2020 /PRNewswire/ -- The global molded pulp packaging market size is expected to reach USD 5.63 billion by 2025, registering a CAGR of 4.9% during the forecast period, according to a new report published by Grand View Research, Inc. Rising demand for low-cost, eco-friendly packaging by various end-use industries, including food, food service, electronics, healthcare, and industrial, is likely to fuel the growth.
Key suggestions from the report:
- Food packaging end-use segment accounted for a market share of 50.8% in terms of revenue in 2018, owing to wide scale incorporation of the product for packaging fresh fruits, eggs and processed food products
- The non-wood pulp material segment is anticipated to expand at the fastest CAGR of 6.1% from 2019 to 2025. The material eliminates the need for virgin wood thereby offering complete sustainable packaging, which is expected to bode well for the growth of the segment
- Asia Pacific molded pulp packaging market is estimated to register a CAGR of 6.2% from 2019 to 2025 on account of rapid expansion of electronics, healthcare, and foodservice industries
- North America is projected to expand at a CAGR for 3.5% over the forecast period, owing to the rising ban on plastic packaging coupled with growing consumer preference for sustainable packaging solutions
- Market participants across the globe are expanding their manufacturing capability on account of growing popularity of molded pulp packaging products amongst end-use industries.
Read 90 page research report with ToC on "Molded Pulp Packaging Market Size, Share & Trends Analysis Report By Source (Wood Pulp, Non-Wood Pulp), By Type (Thermoformed, Transfer), By Product, By End Use, By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/molded-pulp-packaging-market
Molded pulp packaging products are majorly made up of recycled paper pulp. Other sources such as virgin wood and non-wood pulp sources, including cereal straws, sugarcane bagasse, bamboo, reeds, esparto, kenaf, and corn stalks, are also employed for manufacturing molded pulp packaging products. The wide availability of various pulp sources makes it a cost-effective packaging solution than plastic molded products.
Molded pulp packaging products such as clamshell, bowls and cups, plates, and others exhibit similar packaging properties to that of plastic thermoform products. Molded products offer excellent bracing, blocking, and cushioning protection, and they are temperature, water, and oil resistant. A rise in the rules and regulations regarding the use of plastic packaging products, such as Expanded Polystyrene (EPS) thermoformed packaging products in the developed region, are expected to fuel the demand for molded pulp packaging in the forthcoming years.
Molded pulp packaging products, such as tray and clamshells are primarily used for egg packaging due to their excellent vibration damping properties, essential for packaging fragile products. Increasing per capita consumption of eggs in developed countries coupled with the growing adoption of sustainable disposables by the foodservice industry is expected to benefit the market in the forthcoming years.
Grand View Research has segmented the global molded pulp packaging market based on source, type, product, end use, and region:
- Molded Pulp Packaging Source Outlook (Revenue, USD Million, 2014 - 2025)
- Molded Pulp Packaging Type Outlook (Revenue, USD Million, 2014 - 2025)
- Molded Pulp Packaging Product Outlook (Revenue, USD Million, 2014 - 2025)
- Molded Pulp Packaging End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Molded Pulp Packaging Regional Outlook (Revenue, USD Million, 2014 - 2025)
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Blow Molded Plastics Market – The global blow molded plastics market size was estimated at USD 75.28 billion in 2018 and is projected augment at a CAGR of 4.5% from 2019-2025.
- Packaging Adhesives Market – The global packaging adhesives market size was valued at USD 10.69 billion in 2018 and is expected to grow at a CAGR of 5.8% from 2019 to 2025.
- Paint Packaging Market – The global paint packaging market size was worth USD 21.2 billion in 2018 and is expected to expand at a CAGR of 4.3% over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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