September 13, 2021
According to the research report titled ‘Asia Pacific Molded Pulp Packaging Market Forecast 2027 By Material, By Product, By End-User, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, Asia Pacific molded pulp packaging market is slated to record significant growth over 2021-2027.
Rising environmental concerns, followed by a spike in adoption of sustainable solutions, along with increasing demand for custom food packing and other packaging solutions are catalyzing the growth of Asia Pacific molded pulp packaging market. Moreover, growing necessity of replacing traditional and non-biodegradable materials like plastic is adding to the industry expansion.
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Innovative solutions by leading companies will continue to positively impact market development in the ensuing years. For instance, Toppan Printing Co., Ltd., a Japanese custom packaging company, introduced its novel technique for smart packaging in June 2021 that features an unconventional NFC chip integrated into the package for an added level of security assistance.
For the unversed, molded pulp is used for protecting packaged food, carriers, and trays. It is an eco-friendly packaging material which is obtained from wood and non-wood materials such as newsprints and paper board. These products can be also produced from 100% recycled fiber and are fully recyclable at the end of their lifecycle.
With respect to material, rotary molding pulp held 55% of Asia Pacific molded pulp packaging market share in 2020 and is slated to grow further. Superior molding productivity, lower energy consumption, faster setting time, reduced production cost, and convenient mold tooling interchangeability are the key benefits favoring the demand for rotary molding pulp.
In terms of end-user terrain, eggs packaging segment accounted for over 75% industry share in 2020 and is poised to grow significantly through 2027. This is attributable to flourishing poultry industry, introduction of advanced production technologies, robust commercialization, and expanding middle class population. Additionally, increasing agricultural trade activities and flourishing agribusiness landscape are positively impacting the industry trends.
Elaborating on the geographical scope, the report cites that India, China, Indonesia, Singapore, Japan, and Thailand have witnessed huge consumption of molded pulp in meat & poultry, food & beverage, electronics, agriculture industries.
The competitive landscape of Asia Pacific molded pulp packaging industry sphere is defined by Stora Enso Oyj, Hartmann, Best Plus Pulp Co., Ltd., YFY Jupiter, Inc., Austin Foam Plastics (AFP, Inc.), Compañía Manufacturera de Papeles y Cartones (CMPC), DS Smith plc, Huhtamäki Oyj, Western Pulp Products Company, The Smurfit Kappa Group plc, and Sonoco Products Company among others.