Moulded Fibre Pulp Packaging Market to Grow at a CAGR of 5.8% by 2026
Future Market Insights(FMI) in its upcoming outlook titled “Moulded Fibre Pulp Packaging Market:Global Industry Analysis and Opportunity Assessment, 2016–2026” projects a steady growth in demand formoulded fibre pulp packaging. The global market for moulded fibre pulppackaging is heavily driven by the robust adoption of eco-friendly andbiodegradable packaging solution. Moulded fibre pulp offer packagingconvenience and is cost effective having minimum warehousing or inventorycosts. Apart from egg packaging, leading players in the market are exploringinto other end use industrial packaging, which is identified as a key trenddefining the market growth in recent times. Moreover, technological advancements, andintroduction of novel fibers such as sugarcane, bamboo fibers, and palm toimprove the product efficiency and moulded fibre packaging quality is expectedto play a crucial role in further development of the market during theassessment period.
According to theprojection, global market for moulded fibre pulp packaging is set to witness aCAGR of 5.8% in revenue terms between 2016 and 2026. However, alternativepackaging materials such EPS and plastics may inhibit widespread adoption ofmoulded fibre pulp packaging. In addition, lower strength threshold of shortfibre used as a raw material in moulded pulp packaging may negative impact theoverall market growth over the next couple of years.
Global Moulded Fibre PulpPackaging: Segment Highlights
By product type, the traysegment is anticipated to command for around 34% value share of the market over2026. The growth of the segment is primarily attributed to the increasedconsumption of eggs and fruits worldwide; On the basis of molded pulp type,demand for transfer molded pulp is foreseen to remain high throughout theprojection period. The segment is slated to account for a staggering 56% valueshare of the market by 2026-end; Based on end user, food & beveragepackaging is expected to be the predominant segment of the market during theforecast period. In 2016, the segment accounted for around 69% market share.Demand for molded fiber pulp packaging from consumer durables & electronicsgoods manufacturing sectors is expected to gain maximum traction over 2026.
In 2016, the market in Western Europe accounted for a significant contributionto the global market revenue. Meanwhile, North Americaand APEJ collectively accounted for over 43.3% revenue share of the market inthe same years. Notably, the market in Asia Pacific excluding Japan isexpected to expand at a healthy CAGR of 6.6% over the forecast period. Owing toincreasing concern over use of non-degradable packaging materials, demand formoulded fibre pulp is also anticipated to grow swiftly in Latin America and Eastern Europe.