The moulded pulp packaging industry’s growth can be attributed significantly to this environmental concern because it is renewable, biodegradable and hence safe for the environment and its organisms. Global concerns like climate change have generated the demand to “go green” and be more sustainable. This expanding demand has also led to diminishing the use of plastic among conscious users.
The moulded pulp packaging industry has been recorded to have an estimated value of USD 3811 million in 2020, and its CAGR (or compound annual growth rate) was around 6% for the next five to seven years, say till 2027 or so.
As already mentioned, the growth of several environments conscious users is one of the reasons for an expanding moulded pulp food packaging industry, especially in the USA. A report records the USA consumer electronics retail sale to have been around some 461 million dollars by the present time. Thus this increase in consumer electronics creates demand for safe packaging in the market, leading the moulded pulp packaging industry to grow at its expected rate.
Some of the leading companies which are providing services of the moulded pulp packaging industry include GenPak LLC, Eco products, Cellulose De La Loire, EnviroPAK Corporation, and so on.
As it can be comprehended then, this moulded pulp packaging industry has various segments depending on consumer demands. Just like the necessity of safe packaging of electronics in the market, food packaging using moulded pulp fibre is yet another extremely important segment of the moulded pulp packaging industry. This food packaging segment has comprised a humongous market share of the entire moulded pulp packaging industry.
Moulded pulp packaging industry usually uses wood pulp and non-wood pulp sources to generate its packaging material.
However, apart from the kind of source used, there can be several types of mould packaging material produced by the global moulded pulp packaging industry, which includes thick-walled mould, thermoformed mould, processed mould and transfer mould. Among these mentioned types of mould and sources, the wood pulp packaging has a low-cost raw material and a chemical-free pulping process. There are also several other products manufactured and used by the moulded pulp packaging industry: trays, end caps, bowls, clamshells, plates, etc. The food segment of the moulded pulp packaging industry has witnessed a tremendous increase in demand for clamshells and this product is expected to contribute significantly to the rise of the market value of the industry in its forecast period. The thermoformed and thin-walled mould is expected to have the fastest CAGR.
Apart from environmental consciousness and the necessity of safe food packing, the food segment of the moulded pulp packaging industry is also driven by the rising consumption of eggs.
In the USA today, there is an average of 288 per capita egg consumption and nearly two-thirds of the entire population wants sustainable products. The moulded pulp packaging industry prevents loss of quality, and moisture in food and clamshells can protect food from airborne contamination. Thus from the growing trends in this moulded pulp packaging industry, and its market size, we can understand that it is here to stay!
