North America Molded Pulp Packaging Market Size, Share & Trends Analysis Report By Source (Wood Pulp, Non-wood Pulp), By Packaging Type, By Product, By Application, And Segment Forecasts, 2020 - 2027
New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Molded Pulp Packaging Market Size, Share & Trends Analysis Report By Source, By Packaging Type, By Product, By Application And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05999626/?utm_source=GNW
North America Molded Pulp Packaging Market Growth & Trends
The North America molded pulp packaging market size is projected to reach USD 1.36 billion by 2027. The market is projected to register a CAGR of 4.1% during the forecast period. The demand for molded pulp packaging is likely to be driven by the rising consumption of fresh fruits and eggs, coupled with the growing demand for sustainable packaging in the region.
Molded pulp packaging can be made from recycled pulp or slurry obtained from Old Corrugated Containers (OCC) or used papers, which makes it an attractive sustainable alternative to single-use plastic packaging. Due to consumer awareness and government regulations regarding green packaging, molded pulp packaging is expected to see high growth in North America over the forecasted years.
The transfer packaging type is predominantly used in the packaging of beverages, eggs, vegetables, and fruits.Wide-scale adoption of transfer molded pulp products such as trays and clamshells for fruits and eggs packaging attributed to its highest market share in the North American market.
Steadily increasing egg consumption in North America is anticipated to fuel the growth for the transfer molded segment in the coming years.
The electronics application is likely to witness significant growth over the upcoming years on account of the increasing inclusion of molded pulp packaging for structural functionality in electronics packaging. Additionally, the use of molded pulp products for the packaging of various electronic products, including mobile phones and relative accessories, computers, modems, printers, peripherals, and projectors among others due to its sustainability, convenience, and low cost are factors attributing to the growth of this segment.
North America Molded Pulp Packaging Market Report Highlights
• Wood pulp was the most widely used source in 2019, accounting for 85.7% of the revenue in 2019. Molded pulp packaging manufacturers majorly use waste newspapers for manufacturing pulp. The wide availability of wastepaper and virgin wood at a lower cost can be attributed to the highest share of the segment in 2018
• Trays emerged as the most significant product segment with a revenue share of 41.0% in 2019. Low cost, wide availability, good shock absorption functionality for the packaging of fragile products such as eggs and beverage glass bottles contributed to be the highest share among the segment
• Increasing demand for sustainable disposables especially in the foodservice industry is driving the growth of molded pulp packaging in North America. Moreover, the design and technological advances in thermoformed packaging are expected to result in greater adoption of molded pulp packaging electronics as well as the healthcare industry
• In February 2019, Genpak LLC expanded its Harvest Fiber product line through the addition of four products. These new additions include two clamshells, namely HF4CC and HF2X2, and two trays, namely HF2X2T and HF3TT. The additions are a part of the expansion of the product portfolio for diverse offerings as per the requirements of end-user industries
• In December 2019, Huhtamaki introduced Future Smart Duo Fiber Lid, which is a sustainable packaging product for hot as well as cold beverages and is manufactured using a mixture of wood fibers and bagasse. This product is offered in three variants in terms of diameters 90 mm, 80 mm, and 63 mm
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