The molded fiber packaging market has seen substantial growth, increasing from $8.00 billion in 2023 to $8.46 billion in 2024, with a CAGR of 5.8%. This growth is driven by heightened awareness of environmental sustainability and a growing consumer preference for biodegradable products. Projections indicate the market will reach $10.65 billion by 2028, growing at a CAGR of 5.9%. Major trends include technological advancements in product quality and design innovations, supported by increasing demand from the food and beverage industry.
Major Driver In The Molded Fiber Packaging Market
The molded fiber packaging market is anticipated to experience growth driven by the e-commerce industry's expansion. With increased internet penetration and consumer preference for online shopping, the demand for protective and sustainable packaging solutions is rising. Molded fiber packaging meets these needs effectively, ensuring product safety during shipping while minimizing environmental impact. The U.S. Census Bureau reported a 7.5% increase in e-commerce sales in the fourth quarter of 2023 compared to the same period in 2022. This ongoing growth in e-commerce is bolstering the molded fiber packaging market.
Request A Free Sample Of The Molded Fiber Packaging Market Report
Molded Fiber Packaging Market Competitive Landscape
Sonoco Products Company, Pactiv Evergreen Inc., Huhtamaki Oyj, Nippon Molding Co. Ltd., Cascades Inc., Genpak LLC, Brødrene Hartmann A/S, Fabri-Kal Corporation, UFP Technologies Inc., CKF Inc., Pro-Pac Packaging Ltd., Dentas Paper Industry Inc., Henry Molded Products Inc., EnviroPAK Corporation, Guangzhou NANYA Pulp Molding Equipment Co. Ltd., Fibercel Packaging LLC, Dynamic Fibre Moulding (PTY) Ltd., Omni-Pac Group, Moulded Fibre Products Ltd., Cullen International, Eco-Products Inc., Pacific Pulp Molding Inc., Primeware LLC, Qingdao Xinya molded Pulp Packaging Co. Ltd, TRIDAS
Key Molded Fiber Packaging Market Trend
Companies in the molded fiber packaging market are developing sustainable packaging solutions to meet eco-friendly demands. In January 2024, Genpak launched the Harvest Fiber line, providing biodegradable and recyclable food service containers that combine environmental sustainability with robust performance.
Purchase The Global Molded Fiber Packaging Market Report Directly And Get A Swift Delivery
Molded Fiber Packaging Market Segmentation
The molded fiber packaging market covered in this report is segmented –
1) By Product: Trays, Containers, Clamshells, Bowls, Plates, Other Products
2) By Material: Recycled Paper, Virgin Paper, Mixed Pulp
3) By Source: Wood Pulp, Non-Wood Pulp
4) By Application: Protective Packaging, Food Service Packaging, Electronics Packaging, Cosmetic And Personal Care Packaging, Other Applications
By Geography:The regions covered in the molded fiber packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the molded fiber packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Molded Fiber Packaging Global Market Report 2024 furnishes information about the global molded fiber packaging market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
