Global Mold Pulp Packaging Market Forecasts from 2023 to 2028

The global mold pulp packaging market is expected to grow at a CAGR of 6.23% from US$7.518 billion in 2021 to US$11.475 billion in 2028.

The global mold pulp packaging market is projected to grow at a significant level in the forecast period. A paper-based packaging material known as molded fiber employs 100% recyclable resources including newspaper, cardboard, water, and other natural fibers. As it is used to construct objects with rounded corners and intricate three-dimensional shapes, it is also known as Mold pulp. Egg cartons are one type of protective packaging. Electronics, automobile components, home items, and pharmaceuticals are all packaged using molded fiber pulp. Molded paper pulp breaks down quickly in the soil.

Market Drivers:

Cost-effective nature of mold pulp packaging.

Mold pulp packaging provides significant cost reductions that can support business sustainability objectives. Utilizing affordable and dependable raw materials helps to keep the price of mold pulp packaging low. The price varies under fluctuations in oil prices because the majority of plastic and foam packaging is derived from petroleum. Mold pulp packaging is widely accessible and reasonably priced since it is made from natural fibers and post-consumer paper products.

Rising customer awareness about Recyclable Materials.

Recently, consumers have become increasingly conscious of the negative effects that excessive plastic waste, especially single-use plastic garbage, has on the environment. A conscious effort pushing people to reduce their usage of plastic has led to an increase in demand for products made of biodegradable materials that are manufactured from leftovers from other products. The mold pulp packaging does the same work without burning a hole in either the manufacturer's or the consumer's pocket.

Stringent Environmental Laws are helping the market to grow.

Many governments around the world such as the US, China, India, and others have banned the use of single-use plastic, even for the packaging sector the government has asked producers to find new and innovative products to reduce plastic usage. Additionally, fast-moving consumer product manufacturers are putting greater effort into developing hassle-free, environmentally friendly packaging options that also add value for customers. Superior printing and coating methods have been developed for items made of molded fiber pulp as a result of technological improvements.

Rising demand for sustainable solutions

Over the past few years, climate change has elevated to a worldwide concern. Globally, corporations are becoming very concerned about sustainability. When it comes to environmental protection, waste generated by the packaging of food, beverages, and consumer goods is one of the essential components of sustainability. Eco-friendly packaging is highly valued by consumers. Sustainability packaging is highly in demand by countries, so recycling of the product becomes easier.

The most frugal alternative to green packaging.

Mold pulp packaging provides significant cost reductions that can support business sustainability objectives. Utilizing affordable and dependable raw materials helps to keep the price of mold pulp packaging low. Mold pulp packaging is widely accessible and reasonably priced since it is made from natural fibers and post-consumer paper products. All the older ways of producing green packaging are comparatively costlier than mold pulp packaging. Hence, industries try to lean toward this method of eco-friendly packaging.

Asia Pacific is expected to dominate the market in the projected period

The Asia-Pacific region is anticipated to account for a significant market share. The region has seen significant expansion in the disposable food service sector, which requires virgin pulp for the production of packaging goods like trays, cups, and clamshells that are in close contact with food items. The food packaging, food service, FMCG, healthcare, and electronics industries in China are seeing a high demand for mold pulp packaged goods, which may further propel the mold pulp packaging market. Worldwide providers of mold pulp and molded fiber products are also based in China. For instance, Qingdao Xinya Mold Pulp Packaging Co. Ltd., a Chinese company, is a major provider of goods like bottled wine carriers, which are in great demand all over the world.

Recent Developments

• In July 2023:PulPac formed a license agreement with Matrix Pack, where the former would provide its “Dry Molded Fiber Technology” to the latter for producing sustainable packaging solutions for fiber food products in Europe and North America.

Segmentation

By Product

• Trays
• Cups
• Clamshells
• Plates
• Splitters

By End-User

• Eggs Industry
• Agriculture
• Food & Food Services
• Electronics
• Others

By Type

• Rotary Mold Pulp
• Fiber Thermoforming
• Industrial Mold Pulp

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others