The global sales of molded fiber containers are estimated to be worth USD 4.4 billion in 2021 and are anticipated to reach a value of USD 6.3 billion by 2031. Sales are projected to rise at a CAGR of 3.7% over the forecast period between 2021 and 2031. The revenue generated by molded fiber containers in 2020 was USD 4.2 billion.
The molded fiber containers market has seen a rapid evolution to date, driven by the increasing demand of environmentally friendly packaging solutions sought by consumers. Indeed, the trend for ever-growing environmental awareness and some regulatory pressures towards sustainability have raised this demand. The functional value and attractiveness of molded fiber containers have significantly improved due to advances in production technologies and innovations in raw materials.
Additional opportunities also arose with the development of e-commerce and food delivery. Trends are towards tailor-made designs and versatile models, considering the diversified packaging needs. The market also benefits from an increase in investment in research and development for improved performance of products and sustainable products.
Global Molded Fiber Containers Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 4.2 billion |
| Estimated Size, 2021 | USD 4.4 billion |
| Projected Size, 2031 | USD 6.3 billion |
| Value-based CAGR (2021 to 2031) | 3.7% |
Fiber molding happens to be an environmentally friendly technology that provides compostable food packaging containers.
One of the major growth drivers for the molded fiber containers happens to be the rising demand for ecological packaging solutions from consumers coupled with stringent regulations related to the usage of single use plastic containers.
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Molded fiber containers are manufactured with waste paper or other natural fibres and are recyclable along with other waste. They can also be destroyed without damaging incinerators. Moreover, there are no hazardous or toxic waste materials expelled into the environment.
Hence, molded fiber containers happen to be an environmentally friendly alternative to the single use plastics. Growing awareness regarding the greenhouse effect and global warming are the major factors responsible for driving the growth of molded fiber containers among the environmentally conscious consumers market across the globe.
On the basis of source, the sensor market has been bifurcated in to wood pulp and non-wood pulp. Out of which, the wood pulp segment is anticipated to account for the largest share of the global molded fiber containers sales. The growth of the segment can be attributed to the declining pulp prices in most of the regions over the past few years.
However, the non-wood source segment is anticipated to grow at the fastest CAGR over the forecast period. A large number of non-conventional raw materials are being explored and companies operating in the market are making use of bamboo as a material for pulp manufacturing since bamboo plants can be easily cultivated in almost all regions.
Moreover, higher rates of paper recycling in the developed economies of Europe and North America are anticipated to favor the growth of non-wood pulp segment.
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USA happens to be one of the largest markets for molded fiber containers across the globe. The growth in USA is attributed to the presence of a large number of food service outlets and restaurants in the region. Moreover, increase in disposable incomes coupled with a rise in dining out instance owing to the hectic lifestyles are further expected to boost the growth of molded fiber containers market in the North America region.
The demand for molded fiber containers in the Europe has been on the rise. With a growing number of food outlets and restaurants in the region, there has been a surge in the demand for sustainable packaging solutions too. Thereby driving the demand for molded fiber containers in the Europe region.
Moreover, the member countries of the European Union maintain strict regulatory regimes in order to keep a check on environmental impacts caused by waste disposal, mainly due to single use plastics. This happens to be another major reason responsible for the growth of molded fiber containers market in the region.
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Some of the leading providers of molded fiber containers include
Companies in the market are coming up with different products in order to enhance their product portfolio and meet the changing consumer demands. For instance, in February 2019, Genpak announced the addition of four new innovative designs to its Harvest Fiber line of earth-friendly food packaging with the introduction of four containers with unique compartment configurations.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Molded Fiber Containers Market
