Vancouver, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The global molded fiber packaging market size was USD 4.60 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.3% during the forecast period. Increasing customer awareness towards recyclable and eco-friendly molded fiber packaging and environmental impact associated with packaging materials is a major factor driving market revenue growth. Molded fiber packaging emerges as a more sustainable option, as it combines various fibrous materials, including recycled paper, cardboard, and other fibers, during the manufacturing process.
Moreover, rising trend of adopting molded fiber over other products owing to various benefits is also expected to drive market revenue growth during the forecast period. There is rising preference among consumers for sustainable packaging solutions made from fiber, with the decline in popularity and even bans on plastic packaging in certain regions. As a result, retailers are seeking cost-effective alternatives, leading to rising demand for molded fiber packaging. The prices of molded fiber remain stable, which is directly proportional to overall cost savings for businesses, due to the fluctuating market for petroleum-based resin.
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However, increasing pollution due to manufacturing of molded fiber packaging is a key factor, which could restrain market revenue growth. Molded pulp and paper production constitutes a significant environmental concern within the industrial sector, ranking as the third largest contributor to air, water, and land pollution in the U.S. Pulp mills emit various chemical compounds, including sulfur dioxide, nitrogen dioxide, and carbon dioxide, into the atmosphere, which are hazardous greenhouse gases, responsible for acid rain formation and contributing to climate change.
Segment Insights
Molded type Insights:
Based on molded type, the global molded fiber packaging market is segmented into thick wall, transfer molded type, thermoformed fiber, and processed pulp. The thick wall segment is expected to account for largest revenue share in the global molded fiber packaging market over the forecast period. This specific type of molded pulp packing goes through oven drying and has walls that are between 3/16 and 3/8 inches thick. In most cases, one side has a smooth texture while the other has a rougher one.
End-use Insights:
Based on end-use, the global molded fiber packaging market is segmented into residential food and beverage packaging, electronics packaging, consumer goods packaging, healthcare packaging, industrial packaging, E-commerce packaging, agriculture packaging, and others. The F&B segment is expected to account for significantly large revenue share in the global molded fiber packaging market over the forecast period. The segment is further sub-segmented into egg cartons, fruit trays, berry baskets, beverage carriers, and takeout containers. This is because molded fiber products offered by packaging companies serve as an excellent solution for businesses seeking packaging alternatives. Molded fiber has various specifications that cater to diverse needs, regardless of whether the products being packed are eggs, frozen meals, or fresh meals.
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Regional Insights:
The North America market accounted for largest revenue in the global molded fiber packaging market in 2022. This is due to increasing initiatives by various manufacturers to develop new product as well as rising demand for molded fiber packaging products. On 8 June 2022, Huhtamaki, a prominent international manufacturer specializing in sustainable packaging solutions, unveiled its intention to enhance the manufacturing capabilities of its molded fiber products in Hammond, Indiana. The investment is set to commence scaling up operations by the latter part of 2023.
The Asia Pacific market is expected to account for considerably large revenue share in the global molded fiber packaging market during the forecast period due to rising demand for eco-friendly canopies. For instance, on 24 March 2022, Smooth Molded Fiber (SMF), an innovative and technologically sophisticated material with a variety of uses in high-precision food packaging, is more readily available from Huhtamaki, a leading global provider of sustainable packaging solutions.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 4.60 Billion |
| CAGR (2023–2032) | 4.3% |
| Revenue Forecast To 2032 | USD 7.09 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Molded type, source, application, product, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | UFP Technologies, Inc., FiberCel, Huhtamaki, Pactiv LLC, Henry Molded Products Inc., EnviroPAK, Spectrum Lithograph, ESCO Technologies Inc., ProtoPak Engineering Corporation, and Brodrene Hartmann A/S |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global molded fiber packaging market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective molded fiber packaging products. Some major players included in the global molded fiber packaging market report are:
- UFP Technologies, Inc.
- FiberCel
- Huhtamaki
- Pactiv LLC
- Henry Molded Products Inc.
- EnviroPAK
- Spectrum Lithograph.
- ESCO Technologies Inc.
- ProtoPak Engineering Corporation
- Brodrene Hartmann A/S
Strategic Development
- On 27 July 2022, UFP Technologies, Inc. concluded the sale of its molded fiber business and associated real estate in Iowa to CKF, Inc. The transaction amounted to approximately USD 32 million. This strategic divestiture allows UFP Technologies to allocate its resources, including both personnel and capital, towards the expansion of its MedTech business. The MedTech segment accounts for 82% of the company's total revenue. CKF's strong emphasis on molded fiber aligns well with UFP Technologies' former Molded Fiber Business (MFT), and the collaboration is expected to generate significant synergies. Customers of MFT can now benefit from a broader range of products, advanced technologies, and increased manufacturing capabilities across multiple locations.
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For the purpose of this report, Emergen Research has segmented the global molded fiber packaging market on the basis of molded type, source, application, product, end-use, and region:
- Molded Type Outlook (Revenue, USD Billion; 2019-2032)
- Thick Wall
- Transfer Molded Type
- Thermoformed Fiber
- Processed Pulp
- Source Outlook (Revenue, USD Billion; 2019-2032)
- Wood Pulp
- Non-wood Pulp
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Primary Packaging
- Secondary Packaging
- Edge Protectors
- Product Outlook (Revenue, USD Billion; 2019-2032)
- Trays
- Drink Carriers
- 2 Cups
- 4 Cups
- 6 Cups
- More than 8 Cups
- Boxes
- End Caps
- Plates
- Bowls
- Clamshell Containers
- End-use Outlook (Revenue, USD Billion; 2019-2032)
- Food & Beverage (F&B) Packaging
- Egg Cartons
- Fruit Trays
- Berry Basket
- Beverage Carriers
- Takeout Containers
- Electronics Packaging
- Mobile Phone Trays
- Laptop Packaging
- TV Packaging
- Audio Equipment Packaging
- Component Trays
- Consumer Goods Packaging
- Mobile Phone Trays
- Laptop Packaging
- TV Packaging
- Audio Equipment Packaging
- Component Trays
- Healthcare Packaging
- Medical Device Trays
- Pharmaceutical Packaging
- Hospital Supplies Packaging
- Dental Trays
- Surgical Trays
- Industrial Packaging
- Automotive Component Packaging
- Machinery Parts Packaging
- Electrical Component Packaging
- Tool Trays
- E-commerce Packaging
- Shipping Trays
- Protective Packaging Inserts
- Retail Packaging Inserts
- Box Inserts
- Agriculture Packaging
- Plant Trays
- Seed Pots
- Flower Packaging
- Mushroom Packaging
- Plantable Packaging
- Others
- Food & Beverage (F&B) Packaging
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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