August 06, 2020
According to the research report titled ‘Molded Pulp Packaging Market Size By Product, By Type, By Industry, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global molded pulp packaging market is expected to witness tremendous growth during 2020-2026.
Increasing healthcare expenditure due to COVID-19 outbreak and growing demand from various industries like agriculture, food packaging, and electronics are expected to drive the growth of global molded pulp packaging market in the ensuing years.
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Notably, molded pulp packaging is made up of fibrous materials such as paper, cardboard, or natural fibers like bamboo, sugarcane, and wheat straw. These materials determine the strength, texture, and color of the packaging. Advancements in technology over the past few years have enhanced the look and feel of packaging boxes and products.
Factors like growing agricultural output, flourishing poultry industry, positive regulatory scenario, and constant product demand from food & beverages sector are contributing to the growth of global molded pulp packaging market.
With respect to product type, the market is segmented into plates, cups, splitters, clamshells, trays and others. As per the report, molded pulp plates segment is poised gain significant traction over the forecast period, as they are ecofriendly alternative for plastic tableware. These plates are available in different shapes with indentations for food segregation. Molded pulp offers smoothness and makes the plates attractive to restaurants and consumers both. These plates are soak proof with no wax lining, freezer & microwave safe, and can be used for both cold & hot items.
With regards to end-user spectrum, global molded pulp packaging market is categorized into agriculture, appliances, electronics, food & food services, eggs, and others. Other industrial segment includes automotive, electrical, general manufacturing and many more. Amplifying manufacturing sector in Asia Pacific is expected to drive the demand of molded pulp for industrial packaging over the forecast period.
Considering the regional frame of reference, the market is segmented into Latin America, APAC, MEA, North America, and Europe. Among them, Latin America is expected to witness high demand for molded pulp packaging from healthcare sector owing to rising healthcare expenditure in the region after COVID-19 outbreak.