Growth of Molded Fiber Pulp Packaging Market
Market Overview:
Molded fiber pulp packaging products are manufactured from renewable and recyclable fibers using a molding process. They provide cushioning and protection to various products during transportation and storage. Being made from recycled fibers, molded fiber pulp packaging helps to reduce waste.
Key Takeaways
The Global Molded Fiber Pulp Packaging Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing environmental concerns and regulations against single-use plastics. Asia Pacific region dominated the market in 2023 due to presence of major pulp molding companies and growth in e-commerce sector in countries like China and India.
Regional analysis
Asia Pacific accounted for around 35% market share of the global molded fiber pulp packaging market in 2023. This is attributed to high production output from companies in China and India catering to the large consumer markets in the region. North America and Europe follow Asia Pacific in terms of both production and consumption of molded fiber packaging.
Key players
Some of the key players operating in the molded fiber pulp packaging market are UFP Technologies, Inc., ESCO Technologies Inc., Huhtamaki Oyj, Brodrene Hartmann A/S, Henry Molded Products, Inc., ProtoPak Engineering Corporation, EnviroPAK Corporation, Pacific Pulp Molding, LLC, Keiding, Inc., FiberCel Packaging, LLC, Guangxi Qiaowang Pulp Packing Products Co, Ltd. and Guangzhou NANYA Pulp Molding Equipment Co., Ltd.
Read More - https://makuv.com/projected-rapid-e-commerce-growth-to-boost-the-global-molded-fiber-pulp-packaging-market/
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