According to the research report titled ‘Global Molded Pulp Packaging Market by Material (Wood Pulp and Non-wood Pulp), by Product (Trays, Clamshells, Plates and Bowls, Cups, and Shippers), by End User (Healthcare, Consumer Electronics, Food and Beverage, and Personal Care),and Regional Forecasts 2021-2027’, available with Market Study Report, global molded pulp packaging market was worth USD 3.65 billion in 2020 and is expected to register 4.4% CAGR with a valuation of USD 4.94 billion over 2021- 2027.
 

Inclination towards sustainable and environment friendly products, rising consumption of fruits and eggs, coupled with reduced use of Styrofoam, plastic, and other petroleum-based packaging are catalyzing the growth of global molded pulp packaging market.
 

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Molded pulp packaging, for the unversed, is the packaging material made from cardboard, recycled paper, or other fibrous materials.
 

Elaborating on the negatives, low strength of pulp packaging as well as strict governmental directives have restrained the industry expansion to some extent in the recent times. As per the date released by the U.S. government, 212 million metric tons hazardous components are released in the atmosphere per year by the paper & pulp manufacturing industries. This further reinforces the necessity of the government to interfere.
 

Speaking of material, worldwide molded pulp packaging market space is bifurcated into non-wood pulp, and wood-pulp, whereas based on product gamut, the industry vertical is classified into shippers, cups, bowls, plates, clamshells, and trays. In terms of end user terrain, the industry scenario is fragmented into food & beverage, personal care, consumer electronics, and healthcare.
 

Moving on to regional terrain, Asia Pacific held 40% market share in 2020, with China at the forefront. This can be credited to flourishing food & beverage vertical in China, widespread adoption of biodegradable packaging solutions, and ban on single use plastic.
 

Parallelly, North America market has been flourishing since the recent past, with the U.S. as the leading consumer of wine, which further propels the demand for fibrous packaging.
 

The competitive hierarchy of global molded pulp packaging industry is defined by companies such Huhtamäki Oyj, Thermoform Engineered Quality LLC, Eco-Products Inc., Sabert Corp., OrCon Industries Corp., Fabri-Kal, Brødrene Hartmann A/S, Genpak LLC, ESCO Technologies, and UFP Technologies Inc. among others.