Molded pulp packaging market forecast of $1.43 billion in Europe
Dublin, March 15, 2022 (GLOBE NEWSWIRE) — The “Europe Molded Pulp Packaging Market Size, Share and Trend Analysis Report by Source (Wood Pulp, Non-Wood Pulp), by Packaging Type (Transfer, Thermoformed), by Application, by Region and Segment Forecast, 2020-2028″ report has been added to from ResearchAndMarkets.com offer.
The European molded pulp packaging market size is expected to reach USD 1.43 billion by 2028. It is expected to grow at a CAGR of 5.6% from 2020 to 2028. The increasing use of molded fiber for egg and fruit packaging in Europe is expected to fuel the market growth. The European Union (EU) is among the top four egg-producing regions in the world.
According to the European Commission, the overall egg production in the region was 6,313,000 tons in 2020. While according to the International Egg Commission, the average egg consumption in the European Union is 210 eggs per person and per year. These factors are expected to fuel the demand for molded pulp packaging in the region.
The EU is focused on banning the use of single-use plastic products, as well as foam, in a variety of food packaging and catering applications and electronic and industrial applications. Supportive regulatory policies promoting the use of sustainable packaging solutions are expected to augment the market growth over the forecast period. The increasing adoption of sustainable practices by companies in their supply chain activities is expected to increase the penetration of molded pulp products in European countries.
For example, in March 2021, AR Packaging introduced a fiber-based barrier tray for fresh fruits and vegetables to appeal to retailers and food producers looking for alternative plastic packaging solutions. Pulp made from recycled paper products is increasingly being promoted in the region to reduce the burden on virgin wood pulp.
Highlights of the Europe Molded Pulp Packaging Market Report
- The non-wood pulp sources segment is expected to register the highest CAGR of 6.2% during the forecast period. Growing concerns over deforestation leading to challenges associated with wood pulp availability are expected to support demand for non-wood pulp sources such as bagasse, rice straw, flax and hemp
- Market players are focusing on new product development and mergers and acquisitions to strengthen their presence in the market. For example, in January 2021, Brodrene Hartmann A/S acquired Gotek-Litar JSC, headquartered in Russia and involved in the production of molded fiber packaging. The acquisition was part of the former’s strategy to strengthen its presence in Europe in the market
- The thermoformed packaging type segment is expected to register the fastest CAGR of 6.8% during the forecast period due to thin walls, smoother finish and better dimensions of thermoformed pulp packaging. The products offer alternatives to thermoformed plastic packaging and are therefore expected to gain traction
- The food packaging application segment held the second largest revenue share in 2020. Molded pulp trays and shells are widely used for packaging eggs, fruits, vegetables, and meat and poultry products in the fresh food industry, thereby supporting the growth of the segment.
- The Scandinavian region is expected to grow at a CAGR of 5.7% over the forecast period. The region is characterized by the presence of countries that are major producers of pulp and pulp products. Finland and Sweden were ranked among the top producers of these products in 2020 in the European region, thus fueling the growth of the market
- Increase in egg consumption
- Growing demand for sustainable packaging
- Availability of alternative packaging products
- Aesthetic limitation of molded paste products
- Brodrene Hartmann A/S
- Omni-Pac Group
- Pulp-Tec Limited
- Eco-Products, Inc.
- PAPACKS Sales GmbH
- Kiefel packaging
- Switch Packaging Specialists Ltd.
- AR packaging
For more information on this report, visit https://www.researchandmarkets.com/r/7fg0rn