The sales of molded fiber pulp packaging in Korea, valued at USD 470.7 million in 2022, are expected to increase to USD 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 USD 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 | USD 499.7 million |
| Expected Industry Size of Korea by 2033 | USD 902.4 million |
| Forecasted CAGR between 2023 to 2033 | 6.1% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
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 | USD 499.7 million |
| Projected Industry Size by 2033 | USD 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 |
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
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 USD 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 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Tray 5.2. Clamshell & Container 5.3. Boxes 5.4. End Caps 5.5. Others 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. Thick Wall 6.2. Transfer Molding 6.3. Thermoformed Fiber 6.4. Processed Pulp 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Consumer Goods 7.2. Food & Beverage 7.3. Cosmetic & Beauty 7.4. Health Care 7.5. Automotive Parts 7.6. Transportation & Logistics 7.7. Others 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. South Gyeongsang 8.2. North Jeolla 8.3. South Jeolla 8.4. Jeju 8.5. Rest of Korea 9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14. Market Structure Analysis 15. Competition Analysis 15.1. MOORIM 15.2. Seoul Tray Co. 15.3. Xiangzhi Packaging Co. 15.4. UFP Technologies, Inc. 15.5. FiberCel Packaging LLC 15.6. Huhtamaki Oyj 15.7. Pactiv LLC 15.8. Henry Molded Products, Inc. 15.9. EnviroPAK Corporation 15.10. Spectrum Lithograph Inc. 15.11. ESCO Technologies Inc. 15.12. ProtoPak Engineering Corporation 15.13. Brodrene Hartmann A/S 16. Assumptions & Acronyms Used 17. Research Methodology
Explore Packaging Insights
View Reports
Molded Fiber Pulp Packaging Industry Analysis in Korea
