Molded Fiber Packaging Demand in Europe to Remain Strong Through 2026
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Future Market Insights (FMI), Valley Cottage, N.Y., USA, in its upcoming outlook titled Molded Fiber Pulp Packaging Market: Global Industry Analysis and Opportunity Assessment, 2016-2026, projects a steady growth in demand for molded fiber pulp packaging. The global market for molded fiber pulp packaging is heavily driven by the robust adoption of eco-friendly and biodegradable packaging solution.
Molded fiber pulp offers packaging convenience and is cost effective, having minimum warehousing or inventory costs. Apart from egg packaging, leading players in the market are exploring into other end use industrial packaging, which is identified as a key trend defining the market growth in recent times. Moreover, technological advancements, and introduction of novel fibers such as sugarcane, bamboo fibers, and palm to improve the product efficiency and molded fiber packaging quality is expected to play a crucial role in further development of the market during the assessment period.
According to the projection, global market for molded fiber pulp packaging is set to witness a CAGR of 5.8% in revenue terms between 2016 and 2026. However, alternative packaging materials such EPS and plastics may inhibit widespread adoption of molded fiber pulp packaging. In addition, lower strength threshold of short fiber used as a raw material in molded pulp packaging may negatively impact the overall market growth during the next couple of years.
Global molded fiber pulp packaging: segment highlights include:
- By product type, the tray segment is anticipated to command around 34% value share of the market byr 2026. The growth of the segment is primarily attributed to the increased consumption of eggs and fruits worldwide.
- On the basis of molded pulp type, demand for transfer molded pulp is foreseen to remain high throughout the projection period. The segment is slated to account for a staggering 56% of market value share by the end of 2026.
- Based on end user, food and beverage packaging is expected to be the predominant segment of the market during the forecast period. In 2016, the segment accounted for around 69% of market share. Demand for molded fiber pulp packaging from consumer durables and electronics goods manufacturing sectors is expected to gain maximum traction trough 2026.
In 2016, the market in Western Europe accounted for a significant contribution to the global market revenue. Meanwhile, North America and APEJ collectively accounted for more 43.3% revenue share of the market in the same years. Notably, the market in Asia Pacific excluding Japan is expected to expand at a healthy CAGR of 6.6% during the forecast period. Due to increasing concern over the use of non-degradable packaging materials, demand for molded fiber pulp is also anticipated to grow swiftly in Latin America and Eastern Europe.
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