Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
In 2019, The Global Molded Pulp Packaging Market Was Valued At US$ 3.5 Bn And Is Expected To Witness A CAGR Of 4.1% Over The Forecast Period (2020-2028).
The molded pump market is majorly driven by a shift in consumer preferences towards eco-friendly & recyclable materials along with growing disposable income globally. Increasing demand for sustainable and reusable packaging from numerous end-use industries such as healthcare, electronics, food packaging, and others are expected to drive the market demand over the forecast period.
Growing investments in research & development activities accompanied by the rising demand for molded pulp packaging from emerging nations such as China, India, Indonesia and others is anticipated to drive the market during the forecast period. Molded pulp packaging is sustainable in nature, and this is also an important factor boosting the growth of the market in few years to come. Ban on single-use plastic and other plastic packaging solutions across the globe is expected to further enhance the market growth throughout the forecast period.
A surge in use of molded pulp packaging for fresh fruits owing to its features such as oil & water-resistance, odorless in nature and growing demand from the beverage industry are some other key factors projected to drive the market demand over the forecast period. However, stringent regulations for the recycling process and variations in raw material prices are expected to hinder the market growth in years to come.
By Source Type, Non-Wood Pulp Is Expected To Expand With The Highest Share In The Global Molded Pulp Packaging Market. However, Wood Pulp Accounted For Highest Share Of XX% In Global Molded Pulp Packaging Market In 2019.
Wood pulp segment dominated the global market in 2019 owing to its low cost and rising demand from foodservice packaging solutions. The availability of virgin wood and waste paper at a low cost is projected to drive market growth. Some of the benefits offered by these materials are biodegradability, recyclability, sustainability and these are expected to boost the growth of molded packaging market in the future.
On the other side, the non-wood pulp segment is anticipated to expand at a rapid pace throughout the forecast period. The wide availability of non-wood pulp sources such as sugarcane bagasse, reeds, corn stalks, cereal straws are projected to drive the segment demand in years to come.
By End-Use Industry, Food Packaging segment is gaining traction over the forecast period in Global Molded Pulp Packaging Market
Food Packaging Accounted For A Major Share Of XX% In Global Molded Pulp Packaging Market In 2019.
The food packaging contributed to significant share in the market in 2019 owing to increased manufacturer's focus on sustainable packaging along with the rising availability of thermoformed and processed molded pulp products. On the contrary, the electronics segment is anticipated to witness a CAGR of X% during the forecast period. The rising electronics industry and the growing emergence of recyclable packaging solutions in these industries are the key factors projected to drive the segment growth. The need for damage protection packaging across storage & transportation in the electronics sector is another factor anticipated to enhance the segment growth during the forecast period.
Growth prospects of Molded Pulp Packaging are high in Asia Pacific
Asia Pacific held significant share in the global market in 2019 owing to the surge in demand for molded pulp packaging from emerging nations such as India & China. High growth in healthcare, electronics and food packaging industry in the aforementioned nations is expcted to boost the growth of the market. Rapid urbanization coupled with the rising preference for convenient, safe packaging are some other factors expected to drive the regional growth over the forecast period. Growing packaging industry in numerous countries such as Indonesia, Bangladesh due to various advancements in these countries are one of the prominent factors for regional growth.
In 2019, North America held a substantial share in the global molded pulp packaging market. Rising awareness of plastic recycling and an increase in demand of sustainable packaging in the various industries across the region is boosting the demand of molded pulp packaging in North America.
Global Molded Pulp Packaging Market is competitive with presence of a large number of global and local/regional manufacturers. Cellulose de la Loire, Pacific Pulp Molded, Protopak Engineering Corporation, Brødrene Hartmann A/S, Sabert Corporation, UFP Technologies, EnviroPAK Corporation, Thermoformed engineered Quality, Henry Molded Products, Genpak LLC, Fabri-Kal, Eco-Products, PrimeWare-by PrimeLink Solutions, and Pro-Pac Packaging are some key players operating at regional as well as country level. The rising trend of customized solutions to customers along with mergers & acquisitions are expected to remain the key strategies by the market players.
By Molded Type:
- Thick Wall
- Wood Pulp
- Non-wood Pulp
By Product Type:
- Food Service Disposables
- Food Packaging
- North America
- Latin America
- Asia Pacific
- Middle East and Africa