New Study Projects Steady Growth for Molded Fiber Pulp Packaging in Western Europe
According to FMI, the global market for moulded fibre pulp packaging is heavily driven by the robust adoption of eco-friendly and biodegradable packaging solutions.
Feb. 16, 2017 - Future Market Insights (FMI) in its upcoming outlook titled "Moulded Fibre Pulp Packaging Market: Global Industry Analysis and Opportunity Assessment, 2016-2026" projects a steady growth in demand for moulded fibre pulp packaging.
According to FMI, the global market for moulded fibre pulp packaging is heavily driven by the robust adoption of eco-friendly and biodegradable packaging solution. Moulded fibre 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 moulded fibre 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 moulded fibre 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 moulded fibre pulp packaging. In addition, lower strength threshold of short fibre used as a raw material in moulded pulp packaging may negative impact the overall market growth over the next couple of years.
Global Moulded Fibre Pulp Packaging: Segment Highlights
- By product type, the tray segment is anticipated to command for around 34% value share of the market over 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% value share of the market by 2026-end
- Based on end user, food & beverage packaging is expected to be the predominant segment of the market during the forecast period. In 2016, the segment accounted for around 69% market share. Demand for molded fiber pulp packaging from consumer durables & electronics goods manufacturing sectors is expected to gain maximum traction over 2026.
Western Europe will continue to offer lucrative market opportunities throughout the assessment period
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 over 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% over the forecast period. Owing to increasing concern over use of non-degradable packaging materials, demand for moulded fibre pulp is also anticipated to grow swiftly in Latin America and Eastern Europe.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. To learn more please visit: www.futuremarketinsights.com.
SOURCE: Future Market Insights