The sales of molded fiber pulp packaging in Korea, valued at US$ 470.7 million in 2022, are expected to increase to US$ 499.7 million in 2023. Over the next decade, the adoption of molded fiber pulp packaging in the country is forecasted to surge at a promising 6.1% CAGR. The analysis also predicts a potential net revenue of around US$ 902.4 million from the sales of molded fiber pulp packaging by 2033.
Key Insights on the Molded Fiber Pulp Packaging Sector of Korea
| Attributes | Details |
|---|---|
| Industry size of Korea in 2023 | US$ 499.7 million |
| Expected Industry Size of Korea by 2033 | US$ 902.4 million |
| Forecasted CAGR between 2023 to 2033 | 6.1% |
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Rapid Industry Growth Spurs Molded Fiber Packaging Craze: End-use industries, such as food and beverage, food service, healthcare, and electronics, are fueling the demand for molded fiber pulp packaging. This surge is a result of the rapid growth of these industries in Korea, leading to a substantial increase in the popularity of molded fiber pulp packaging services in the country.
Korea Embraces Eco-friendly Wave with Molded Fiber Packaging: One of the key industry trends promoting the use of molded fiber pulp packaging in Korea is the increasing preference for products made from biodegradable and compostable materials. This trend is expected to continue gaining momentum in Korea as consumers become more environmentally conscious about the impact of their purchases.
3D Printing Revolutionizes Custom Molded Packaging in Korea: The industry in Korea is also seeing an increase in demand for custom-molded pulp packaging items. Considering the development of revolutionary technologies like 3D printing, industry players in Korea are now building sophisticated and complicated package designs according to the specific requirements of their customers.
Online Sales Surge Fuels Korea's Molded Fiber Boom: The growing adoption of protective packaging solutions, driven by the rise of eCommerce and home delivery services, has significantly boosted the molded fiber pulp packaging business in Korea. Over the upcoming years, sales through online retail channels are projected to double, leading to a higher utilization of molded fiber pulp packaging in Korea.
Korea's Enthusiasm for Eco-trays Soars to New Heights: The popularity of molded fiber pulp trays among Koreans is on the rise, reflecting their increasing enthusiasm for an environmentally friendly lifestyle. Molded fiber pulp trays have gained a strong foothold in Korea, especially when compared to other product types, as they utilize around 25% less raw material.
According to estimates, the demand for transfer molded pulp is higher in Korea, poised to account for about 52.6% of the total revenue generated in 2023.
| Molded Fiber Pulp Packaging in Korea based on Molded Pulp Type | Transfer Molded |
|---|---|
| Total Share (2023) | 53.2% |
The wall thickness of transfer molded fiber pulp products can range from 3 to 5 mm, providing flexibility for both producers and end-users to decide. This thickness offers a high level of protection for packaged goods, including excellent shock-absorption capabilities. These qualities ensure that delicate or fragile items remain intact during transit. Such reliability in safeguarding products is particularly crucial for industries like electronics, where protecting the integrity of components is paramount.
Especially during the pandemic years, the food and beverage sectors escalated the demand for molded fiber pulp packaging solutions to adhere to standard protocols in Korea. In 2023, the food and beverage sector's overall share in the demand for molded fiber pulp packaging in Korea could be around 44.9%.
| Molded Fiber Pulp Packaging in Korea based on End Use | Food & Beverages |
|---|---|
| Total Share (2023) | 44.9% |
Packaging made of molded fiber pulp has superior protective qualities, which makes it perfect for food and beverage items. It offers a safe, padded atmosphere that protects goods from harm while being transported and stored. Ensuring that perishable commodities reach customers in optimal condition is particularly important. On top of that, the beverage industries in Korea are choosing molded fiber pulp packaging more because its advantage of complete protection for glass bottles.
Principal Consultant
The molded fiber packaging sector in Korea is relatively consolidated, with only a few service providers catering to the demand in the country. To stay competitive in Korea, manufacturers of molded fiber pulp packaging are incorporating the latest innovations, such as automation and robots, into their production facilities.
Currently, eco-friendly packaging options are gaining more attention worldwide, which has led to a transformation of the entire industry in Korea. As a result, manufacturers of molded fiber pulp packaging in Korea are increasingly focusing on using biodegradable materials, including bamboo, sugarcane bagasse, and cornstarch.
Recent Developments in Molded Fiber Pulp Packaging in Korea
With the aim of providing food service packaging solutions and egg packaging solutions, Huhtamaki Oyj inaugurated its fiber packaging plant in October 2019. Since then, the firm has been making substantial investments in the development and introduction of new product lines of molded fiber pulp packaging to drive commercial growth. As part of its broader commitment to advancing molded fiber solutions, Huhtamaki began expanding its manufacturing capacity in North American countries in June 2022.
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 499.7 million |
| Projected Industry Size by 2033 | US$ 902.4 million |
| Anticipated CAGR between 2023 to 2033 | 6.1% CAGR |
| Historical Analysis of Demand for Molded Fiber Pulp Packaging in Korea | 2018 to 2022 |
| Demand Forecast for Molded Fiber Pulp Packaging in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Molded Fiber Pulp Packaging in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Korea Providers |
| Key Cities Analyzed | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | SOUL Paper Industrial Co. (SOUL Denta Paper Industry); Moorim; H&H Packaging; Woojin Paper; Samhwa Paper |
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The anticipated CAGR for molded fiber pulp packaging in Korea through 2033 is 6.1%.
Demand for molded fiber pulp packaging in Korea is estimated to reach US$ 902.4 million by 2033.
Molded fiber pulp packaging manufacturers in Korea are targeting small and medium enterprises to boost sales.
The transfer molded segment currently holds the lead in Korea with a 53.2% revenue share in 2023.
The food and beverage industry currently accounts for 44.9% of the total demand in Korea.
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033
5.3.1. Tray
5.3.2. Clamshell & Container
5.3.3. Boxes
5.3.4. End Caps
5.3.5. Others
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033
6.3.1. Thick Wall
6.3.2. Transfer Molding
6.3.3. Thermoformed Fiber
6.3.4. Processed Pulp
6.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End Use, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End Use, 2023 to 2033
7.3.1. Consumer Goods
7.3.1.1. Tube Light & Bulbs
7.3.1.2. Mobile Phones
7.3.1.3. Others
7.3.2. Food & Beverage
7.3.2.1. Egg Packaging
7.3.2.2. Wine Packaging
7.3.2.3. Fruit Packaging
7.3.2.4. Others
7.3.3. Cosmetic & Beauty
7.3.4. Health Care
7.3.5. Automotive parts
7.3.6. Transportation & Logistics
7.3.7. Others
7.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Product Type
9.2.2. By Type
9.2.3. By End Use
9.3. Market Attractiveness Analysis
9.3.1. By Product Type
9.3.2. By Type
9.3.3. By End Use
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Product Type
10.2.2. By Type
10.2.3. By End Use
10.3. Market Attractiveness Analysis
10.3.1. By Product Type
10.3.2. By Type
10.3.3. By End Use
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Product Type
11.2.2. By Type
11.2.3. By End Use
11.3. Market Attractiveness Analysis
11.3.1. By Product Type
11.3.2. By Type
11.3.3. By End Use
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Product Type
12.2.2. By Type
12.2.3. By End Use
12.3. Market Attractiveness Analysis
12.3.1. By Product Type
12.3.2. By Type
12.3.3. By End Use
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Product Type
13.2.2. By Type
13.2.3. By End Use
13.3. Market Attractiveness Analysis
13.3.1. By Product Type
13.3.2. By Type
13.3.3. By End Use
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Product Type
14.3.3. By Type
14.3.4. By End Use
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. MOORIM
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Seoul Tray Co.
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Xiangzhi Packaging Co.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. UFP Technologies, Inc.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. FiberCel Packaging LLC
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Huhtamaki Oyj
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Pactiv LLC
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Henry Molded Products, Inc
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. EnviroPAK Corporation
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Spectrum Lithograph Inc.
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
15.1.11. ESCO Technologies Inc.
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.11.5.2. Product Strategy
15.1.11.5.3. Channel Strategy
15.1.12. ProtoPak Engineering Corporation
15.1.12.1. Overview
15.1.12.2. Product Portfolio
15.1.12.3. Profitability by Market Segments
15.1.12.4. Sales Footprint
15.1.12.5. Strategy Overview
15.1.12.5.1. Marketing Strategy
15.1.12.5.2. Product Strategy
15.1.12.5.3. Channel Strategy
15.1.13. Brodrene Hartmann A/S
15.1.13.1. Overview
15.1.13.2. Product Portfolio
15.1.13.3. Profitability by Market Segments
15.1.13.4. Sales Footprint
15.1.13.5. Strategy Overview
15.1.13.5.1. Marketing Strategy
15.1.13.5.2. Product Strategy
15.1.13.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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Molded Fiber Pulp Packaging Industry Analysis in Korea
