The global market is set to enjoy a valuation of USD 590.8 million in 2023 and expand at a CAGR of 3.5% to reach USD 833.4 million by 2033. Based on the application, the trays segment is projected to remain the leading end-use application in the molded pulp packaging machines market. Growth is attributed to the high demand for trays in the packaging of fragile products. The trays segment is estimated to create an incremental opportunity of nearly USD 126 million from 2023 to 2033.
According to Future Market Insights (FMI), the overall market revenue totaled USD 570.8 million in 2022. With rising demand for sustainable packaging in the food & beverage industry, the global market is expected to witness steady growth during the forecast period.
The market is estimated to experience a growth outlook during the forecast period. A new forecast by FMI anticipates that the molded pulp packaging machine sales could rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of about USD 228 million.
| Report Attributes | Details |
|---|---|
| Global Molded Pulp Packaging Machines Market Valuation in 2022 | USD 570.8 million |
| Estimated Global Market Share in 2023 | USD 590.8 million |
| Forecasted Global Market Size by 2033 | USD 833.4 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 3.5% CAGR |
| Market Share of Top 3 Countries in the Year 2022 | 30% to 31% |
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The global market witnessed growth at a CAGR of 2.5% between 2018 and 2022, with a market value of USD 570.8 million in 2022 from USD 518 million in 2018.
The molded pulp packaging machines are used to manufacture products such as trays, cups, clamshells, boxes, etc., and are used in industries such as food & beverage, automotive, electrical & electronics, as they are low-cost and eco-friendly packaging solutions.
Various governments across the globe have created regulations and guidelines to ban the usage of plastic in the packaging sector. This creates a conducive environment for the molded pulp packaging machines market.
The molded pulp packaging machines are gaining traction as molded pulp has become an ideal packaging choice for various applications such as food, beverage, electronics, and others. Molded pulp packaging machines help in reducing the time required to manufacture and are easy to access. Automatic machines can be operated easily and can reduce laborious tasks increasing efficiency.
Growing Sustainability Concerns and Preference for Green Packaging to Boost Sales
Molded pulp packaging is widely accepted due to various benefits such as superior vibration dampening, cushioning, wide application, etc. Molded pulp products such as trays, clamshells, bowls, cups, etc., are cost-effective packaging solutions.
It has low disposal cost and is an easy packaging process. In addition, a growing preference for green packaging and increased environmental concerns are creating a high demand for molded pulp packaging. Hence, the manufacturers are increasing the production of molded pulp packaging machines, augmenting sales.
Preference for Eco-friendly Packaging as an Alternative to Plastic May Fuel Molded Pulp Packaging Machine Sales
Sustainability has become a significant factor in the packaging industry across the globe. Due to increased environmental awareness, the preference for sustainable packaging as an alternative to single-use plastics is surging.
As the molded pulp is produced from recycled paperboard or newspaper, the demand in the market is predicted to burgeon over the upcoming decade. If the molded pulp is manufactured properly, wastage of resources can be reduced.
Due to the abovementioned sustainable benefits, the use of molded pulp products has increased in the industries such as food & beverage, electronics, etc. Hence, with the rise in the use of sustainable packaging, the market is expected to witness immense growth prospects during the forecast period.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 19.7% |
| Europe | 25.1% |
Rising Demand for Molded Pulp Packaging Machines in Food & Beverage Sector to Push Sales
According to the United States Department Of Agriculture, in 2021, the food service and food retailing industries delivered around USD 2.12 trillion worth of food in the United States as compared to the USD 1.81 trillion worth of food delivered in the year 2020.
The food and beverage industry has a substantial market share in the overall market, and rising demand for food service and food retailing boosts the overall market.
Thus, as per the research team’s estimations, the United States growing food & beverage industry is expected to drive the demand for molded pulp packaging machines and is expected to grow the market at the rate of 5.0% CAGR in the forecast period.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 17% |
| Germany | 6.2% |
| Japan | 3.5% |
| Australia | 1.9% |
Favorable Policies to Limit the Use of Plastic in China to Augment Molded Packaging Machines Sales
According to Earth.Org, China is the leading producer and consumer of plastics. In 2020, China produced around 60 million tons of plastic waste. In 2020, the government in China introduced new regulations to limit plastic waste owing to rising environmental concerns.
This was due to the high usage of plastic by e-commerce and delivery services. It also includes measures to cut plastic production. Hence, new rules and initiatives to reduce single-use packaging would help the market.
As per FMI, the molded pulp packaging machines are projected to record a CAGR of 7.1%, owing to the rising demand for sustainable packaging in the country.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 3.5% |
| China | 7.2% |
| India | 6.3% |
2 Out of 5 Molded Pulp Packaging Machines Sales are to be Contributed by Trays
In terms of application, the trays segment is expected to dominate the molded pulp packaging machines market, accounting for a market share of 40.6% in 2022. The demand for the trays is high due to their functional benefits, such as design versatility, product protection, and low cost.
In addition, growing adoption of trays for food packaging, as it is convenient to use as compared to other products. On the back of this, the trays segment is expected to grow at the rate of 4.2% CAGR over the forecast period.
| Category | By Application |
|---|---|
| Top Segment | Trays |
| Market Share in Percentage | 40.6% |
| Category | By End-use Industry |
|---|---|
| Top Segment | Food & Beverages |
| Market Share in Percentage | 47.4% |
The Application of Molded Pulp Packaging Machines in the Food & Beverage Sector May Augment Demand
The food & beverage sector is expected to offer an incremental opportunity of more than USD 131 million during the forecast period. The food & beverage segment dominated the end-use industry of molded pulp packaging machines owing to an increase in the demand for the packaging of eggs, fruits, and vegetables.
Application products such as trays, clamshells, boxes, etc., are used for the packaging of ready-to-eat meals and on-the-go snacks. The increasing demand for convenient food products has also increased the usage of such products. Thus, the rising consumption of quick meals and convenient food products has boosted the market.
Key players operating in the molded pulp packaging machines market are focusing on increasing their sales by expanding their capacities to cater to the growing demand. Some key players are also adopting strategies such as mergers and acquisitions to expand their product portfolio.
They are developing new machines to meet the upcoming customer requirements. Also, the players are upgrading their production facilities to cater for the demand. Some recent key developments in the market by the leading players are as follows –
| Attribute | Details |
|---|---|
| Market Estimated Size 2023 | USD 590.8 million |
| Market Size 2033 | USD 833.4 million |
| Growth Rate | CAGR of 3.5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million or USD billion, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Machine Type, By Application, By End-use Industry, By Region |
| Regions Covered | North America; Latin America; Europe; The Middle East and Africa; Oceania |
| Key Countries Covered | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Huhtamaki Oyj; TRIDAS; Eurasia United Equipment Group Co., Ltd (EAMC); Brødrene Hartmann A/S; Beston Group Co. Ltd.; inmaco; PulPac; BeSure Technology Co., Ltd.; HGHY PULP MOLDING PACK CO., LTD; Southern Pulp Machinery (Pty) Ltd; ZH MOULDED PULP CO., LTD.; Taiwan Pulp Molding Co., Ltd; Parason; Maspack Limited; SODALTECH; DKM Manufacturing, Inc.; HCMP |
| Customization & Pricing | Available upon Request |
By 2033, the market is expected to expand at a 3.5% CAGR.
The market size is estimated to generate USD 590.8 million in 2023.
The market held a market value of USD 570.8 million in 2022.
From 2023 to 2033, North America will hold a 19.7% share in the market.
Food & beverage industries with 40.6% share to grow sales in the market.
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