Molded Pulp Packaging Market Size Worth $5.63 Billion by 2025 Grand View Research, Inc.
SAN FRANCISCO, Jan. 15, 2020 /PRNewswire/ -- The global molded pulp packaging market size is expected to reach USD 5.63 billion by 2025, registering a CAGR of 4.9% during the forecast period, according to a new report published by Grand View Research, Inc. Rising demand for low-cost, eco-friendly packaging by various end-use industries, including food, food service, electronics, healthcare, and industrial, is likely to fuel the growth.
Key suggestions from the report:
- Food packaging end-use segment accounted for a market share of 50.8% in terms of revenue in 2018, owing to wide scale incorporation of the product for packaging fresh fruits, eggs and processed food products
- The non-wood pulp material segment is anticipated to expand at the fastest CAGR of 6.1% from 2019 to 2025. The material eliminates the need for virgin wood thereby offering complete sustainable packaging, which is expected to bode well for the growth of the segment
- Asia Pacific molded pulp packaging market is estimated to register a CAGR of 6.2% from 2019 to 2025 on account of rapid expansion of electronics, healthcare, and foodservice industries
- North America is projected to expand at a CAGR for 3.5% over the forecast period, owing to the rising ban on plastic packaging coupled with growing consumer preference for sustainable packaging solutions
- Market participants across the globe are expanding their manufacturing capability on account of growing popularity of molded pulp packaging products amongst end-use industries.
Read 90 page research report with ToC on "Molded Pulp Packaging Market Size, Share & Trends Analysis Report By Source (Wood Pulp, Non-Wood Pulp), By Type (Thermoformed, Transfer), By Product, By End Use, By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/molded-pulp-packag ...
Molded pulp packaging products are majorly made up of recycled paper pulp. Other sources such as virgin wood and non-wood pulp sources, including cereal straws, sugarcane bagasse, bamboo, reeds, esparto, kenaf, and corn stalks, are also employed for manufacturing molded pulp packaging products. The wide availability of various pulp sources makes it a cost-effective packaging solution than plastic molded products.