The global market for molded pulp packaging is projected to grow from USD 3.5 billion in 2019, to reach USD 4.4 billion by 2024, at a CAGR of 4.4%

NEW YORK, Nov. 25, 2019 /PRNewswire/ --

Growth in demand from the food packaging industry to drive the market for molded pulp packaging

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The global market for molded pulp packaging is projected to grow from USD 3.5 billion in 2019, to reach USD 4.4 billion by 2024, at a CAGR of 4.4%. The molded pulp packaging market is driven by factors such as the growing demand for sustainable packaging, increase in demand for recyclable packaging products, cost-effectiveness, and reduced packaging waste. Factors such as growth in demand from the food packaging and food disposable sectors and the preference for convenience packaging are driving the demand for molded pulp packaging. Emerging markets such as Asia Pacific have contributed to an increase in the application of molded pulp packaging in packaging products. However, fluctuations in raw material prices impacting the overall packaging material cost are a hindering the growth of the molded pulp packaging market.

The non-wood pulp segment of the molded pulp packaging market, by source type, is projected to grow at a higher CAGR during the forecast period
The non-wood pulp, by source type, is projected to grow at a higher CAGR between 2018 and 2024.Non-wood pulp is generally made from agricultural food crop residues, grasses, and tree leaves that do not have immediate applications.

It is processed and used as an excellent alternative for wood pulp, offering the same properties and benefits. Being a recyclable and sustainable source, the demand for non-wood pulp for the manufacturing of molded pulp packaging is contributing to market growth.

Asia Pacific to gain maximum traction during the forecast period
The Asia Pacific region is projected to be the fastest-growing market during the forecast period, followed by North America.In the Asia Pacific region, China is the largest consumer of molded pulp packaging, followed by India.

China, with its growing food packaging, foodservice disposable, healthcare, and electronics industries, is expected to drive the molded pulp packaging market. India, with its growing inclination toward convenient product packaging, is expected to influence the molded pulp packaging market in the Asia Pacific region.

Breakdown of primaries
Primary interviews were conducted with a number of industry experts to collect the data related to different aspects of molded pulp packaging market. The distribution of primary interviews is as follows:
• By Company Type: Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35%
• By Designation: C level Executives – 35%, D- Level – 35%, Others – 35%
• By Region: APAC – 45%, North America – 25%, Europe – 20%, Middle East & Africa – 5%, South America – 5 %

Below are the various suppliers of molded pulp packaging and related products:
1. Brødrene Hartmann A/S (Denmark)
2. UFP Technologies (US)
3. Thermoformed engineered Quality (TEQ) LLC (US)
4. Genpak LLC (US)
5. Eco-Products (US)
6. Pro-Pac Packaging (Australia)
7. PrimeWare-by PrimeLink Solutions (US)
8. Fabri-Kal (US)
9. Henry Molded Products (US)
10. EnviroPAK Corporation (US)
11. Pacific Pulp Molded (US)
12. Sabert Corporation (US)
13. Protopak Engineering Corporation (US)
14. Cellulose de la Loire (France)

Research Coverage:
The report defines, segments, and projects the molded pulp packaging market on the basis of molded type, source, product type, end use, and region. The study analyzes competitive developments such as acquisitions, expansions, and investments in the molded pulp packaging market.

This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the molded pulp packaging market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand their competitors better and gain more insights on their position in the business.

Read the full report: https://www.reportlinker.com/p05797098/?utm_source=PRN

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