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Global Molded Fiber Trays Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 3.2 Bn by 2028, Likely to Grow with the CAGR of 5.6% During the Forecast Period.
Molded fiber trays are gaining preferences in various sectors such as food & beverages and other end use sectors. These are eco-friendly, sustainable and biodegradable that boosts the growth of the market. These are rapidly adopted in various industries such as healthcare products, automotive, consumer durables and electronic products. Also, these are broadly utilized for offering protection to goods in transportation and logistics sector.
High demand for molded fiber tray is witnessed owing to numerous benefits offered by these products such as durability, advanced protection, ease of handling and that is expected to propel the demand of molded fiber trays in the end use sectors.
Also, these products are likely to fit in any product size and also improves shelf life. New developments in expansion of several end-user industries, processing procedures are the major factors anticipated to boost the growth of the market.
Eggs Had Accounted For a Significant Share of XX% In 2019 And Is Expected To Remain Dominant During The Forecast Period
Rise in demand for eggs in several countries is one of the factors to boost the demand for molded fiber trays. Moreover, high demand for molded fiber trays for packing goods and need to be transferred to high and humid temperatures have boosted the market of molded fiber trays. Moreover, high concern towards non-degradable packaging materials is also contributing to the growth of molded fiber trays market during the forecast period. Moreover, various key players are adopting sustainability initiatives along with innovations. End users prefer egg packaging as these are sustainable in nature and this will ultimately boost the growth of eggs packaging along with molded fiber trays market.
By Pulp Type, Transfer Molded Accounted For a Significant Share of Molded Fiber Trays Market In 2019
Various pulp types used for molded fiber are thermoformed fiber, processed pulp, transfer molded, thick wall. Of these, transfer molded has been accounting for a major share owing to various benefits offered by this pulp type. Transfer molded packaging offer better protection but also prevents from breakage during transit across the supply chain. Also, as the demand for recycled packaging has been growing, transfer molded pulp type will be gaining traction during the forecast period. These factors are expected to boost the market of molded fiber trays during the forecast period.
Europe Had Accounted For A Significant Share Of XX% In 2019 And Is Expected To Remain Dominant During The Forecast Period
Europe is the most lucrative market for molded fiber trays and is estimated to hold a significant share during forecast period. Technological advancement in processing and packaging in recent years and growing demand for eco-friendly packaging is boosting the growth of the market. In addition to this, global molded fiber trays market in North America is expected to grow at significant rate in future. North America market is anticipated to grow significantly owing to rise in high demand for protective packaging. Moreover, shift from plastic packaging to molded fiber packaging (as this is easily reusable and sustainable) is another trend being witnessed in the region. Followed by Europe and North America, Asia Pacific is expected to witness high growth during the forecast period.
Key players in molded fiber trays market are Henry Molded Products, Inc., Pactiv LLC, Brødrene Hartmann A/S, UFP Technologies, Inc, Fibercel Packaging LLC, Orcon Industries Corporation, among others.
Companies in this sector are adopting various strategies to expand in the market. For instance, Huhtamaki OYJ has adopted a new strategy to acquire the majority of flexible packaging manufacturer, Everest (Pty) Limited for its operations that cover flexible packaging, food service packaging
Molded Fiber Trays Market Segmentation
Molded Fiber Trays Market By Molded Pulp Type
- Thick Wall
- Transfer Molded
- Thermoformed Fiber
- Processed Pulp
Molded Fiber Trays Market By End use
- Consumer Durables and Electronics
- Food and Beverages
- Healthcare Products
- Automotive & Mechanical Parts
- Transportation and Logistics
- Food Service Disposables
Molded Fiber Trays Market By Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa