Market Size of Molded Pulp Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.98 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Molded Pulp Packaging Market Analysis
The molded pulp packaging market is expected to reach USD 5,661.23 million in five years, registering a CAGR of 5.98%. Molded pulp packaging is mainly adopted for its efficient and better recycling systems and creates an increasing demand for customized packaging sizes.
- Rapidly growing demand for convenient and sustainable packaging alternatives, ongoing development of molded fiber products that are more competitive as a plastic alternative, and increasing orders from electronics, food packaging, and healthcare sectors are some of the primary drivers of the market studied.
- As end-user industries such as consumer electronics are witnessing high demand, sustainable packaging products are increasingly being used as a protective layer for transporting, as they provide protection and avoid damage to the environment.
- Molded pulp packaging offers considerable cost savings that can help corporate sustainability goals. The cost of molded pulp packing is kept low using inexpensive and reliable raw materials. As most of the plastic and foam packaging is made from petroleum, the price fluctuates according to changes in oil prices. Natural fibers and post-consumer paper products are used to make molded pulp packaging, which is widely available and affordable.
- Total fiber availability is a concern in the paper industry. Imports increased to 3 million tons, and governments of several countries have adopted import laws and restrictions and increased tariffs and excise levies. Due to a recent container shortage, international liners have raised their prices. The rate for transporting waste papers in a 40-foot container has increased from USD 2,800 to USD 3,600. It was formerly under USD 1,600-1,800.
- The COVID-19 pandemic significantly impacted the supply chain for molded pulp packages and helped the market grow with increasing demand from some end-user industries. The amount of online shopping by consumers increased significantly as a result of forced lockdowns and cautionary attitudes. Thus, this trend resulted in an increased demand for cardboard boxes.
