Market Trends of Molded Pulp Packaging Industry
This section covers the major market trends shaping the Molded Pulp Packaging Market according to our research experts:
Growing Consumer Preference Toward Recyclable and Eco-friendly Materials
- Climate change has become a global issue over the past few years. Sustainability for businesses has also become a significant concern globally. Waste produced from food, beverage, and consumer product packaging is one of the critical elements of sustainability when it comes to environmental protection. Consumers now prioritize eco-friendly packaging.
- Consumers have recently grown more aware of the environmental consequences of high quantities of plastic trash, particularly single-use plastic waste. Increased demand for biodegradable items made from the byproducts of existing products is a result of a conscientious movement encouraging people to shift away from plastic consumption.
- Waste creation is expected to rise from 2.01 billion tons in 2016 to 3.40 billion tons in 2050, according to World Bank forecasts. At least 33% of this trash is mishandled worldwide through open dumping or burning.
- The waste mix varies by socioeconomic level, reflecting different consumption patterns. High-income countries produce less food and green waste, accounting for 32% of destruction, and more dry trash that may be recycled, such as plastic, paper, cardboard, metal, and glass, for 51% of complete garbage.
- Increased environmental laws worldwide are expected to drive the demand for molded pulp over the forecast period. As environmental rules become more stringent, demand for molded pulp packaging made from recycled materials and biodegradable is expected to rise.
Understand The Key Trends Shaping This Market
Download Sample
Asia-Pacific to Witness Significant Growth
- The Asia-Pacific region is expected to grow significantly over the forecast period. The disposable foodservice industry, which demands virgin pulp for manufacturing packaging products, such as trays, cups, and clamshells that come in close contact with food items, has been experiencing substantial growth in the region over the last few years.
- The region is also home to molded pulp and molded fiber product suppliers worldwide. For instance, in China, Qingdao Xinya Molded Pulp Packaging Co. Ltd is a global supplier of products such as bottle wine carriers, which have a high number of buyers worldwide.
- China is witnessing a significant demand for molded pulp packaged products from end users, such as food packaging, foodservice, FMCG, healthcare, and electronics industries, which may further drive the molded pulp packaging market.
- The growing urban population, the development of the e-commerce package industry, and improving population awareness about eco-friendly packaging are expected to propel China's paper packaging market.
- According to the estimates from the India Brand Equity Foundation (IBEF), the e-commerce market in India is expected to reach a value of USD 200 billion over the next few years. Such statistics indicate a rise in the demand for electronic appliances, which may drive the need for trays and clamshells made using molded pulp for electronics packing.
Get Analysis on Important Geographic Markets
Download Sample
