North America Molded Pulp Packaging Market Estimated At USD 2.13 Billion By 2030

 San Francisco, 7 May 2024: The Report North America Molded Pulp Packaging Market Size, Share & Trends Analysis Report By Source (Thick Wall, Transfer, Thermoformed, Processed), By Product, By Application, By Country, And Segment Forecasts, 2023 - 2030

The North America molded pulp packaging market size is expected to reach USD 2.13 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.9% from 2023 to 2030. The growing food packaging industry across the region is driving the market of molded packaging products such as trays and clamshells. For instance, eggs and fresh fruits are packed in molded pulp clamshells and trays, which are then sold to food service operators, individual buyers, and restaurants.

The Washington apples from the U.S. are famous and exported globally on a large scale. The fruit preservation technique developed in the U.S. has increased the demand for Red Delicious variety apples from the U.S. Molded pulp trays are used to pack the carton of apples consisting of 45 pieces of apples. These trays provide cushioning and reduce the impact pressure on the fruits. The growing demand for U.S.-based apples is expected to drive the demand for molded pulp trays thus positively impacting the molded pulp packaging market in North America.

In addition, egg consumption is increasing on a yearly basis in the region. Thus, the rising consumption of eggs, owing to the expanding population, associated health benefits, and increasing demand for higher protein intake, is anticipated to drive the demand for molded pulp packaging products, thereby propelling market growth.

Moreover, these molded pulp products.are used to package a variety of medical devices, including test kits, surgical instruments, glucose meters, and others. Increased demand for various medical equipment is anticipated as the rate of chronic illnesses rises, which would benefit the market for molded pulp packaging. Because of the COVID-19 epidemic, which has caused a shortage of medical supplies in the healthcare sector, the need for molded pulp products has increased. Molded pulp solutions are inexpensive compared to the expense of reusing the current utensils and can be discarded easily.

For instance, diabetes is a chronic disease that occurs when the pancreas is unable to produce insulin, which regulates blood sugar. Diabetes is one of the major causes leading to heart attack, kidney failure, and blindness. Thus, rising instances of diabetes are expected to generate high demand for glucose monitors, which, in turn, is anticipated to drive the demand for molded pulp packaging products.

The market is characterized by the presence of key players in the market such as Huhtamaki, Brødrene Hartmann A/S, Thermoform Engineered Quality LLC (Sonoco Products Company), Pro-Pac Packaging Limited,and others with their manufacturing and distribution locations present across the region. These companies are involved in agreements with raw material suppliers and distributors to lower their cost of production, constant supply of raw materials, and gain a competitive edge over other local players. For instance, in June 2022, Huhtamäki Oyj announced its plans to invest USD 100.0 million to expand the production capacity of its molded fiber product manufacturing unit in Indiana, the U.S.

Access Research Report of North America Molded Pulp Packaging Market @ https://www.grandviewresearch.com/industry-analysis/north-america-molded-pulp-packaging-market

North America Molded Pulp Packaging Market Report Highlights

• The wood pulp segment recorded the largest market share in terms of revenue. This is owing to the rising concerns about plastic usage, specifically in the packaging industry, which has directly resulted in a large demand for molded wood pulp packaging
• The thermoformed segment is expected to grow at a fast CAGR over the forecast period. The shift in consumer demand to eco-friendly packaging from plastic thermoformed packaging has been witnessed in many countries. Thus, plastic thermoformed packaging is expected to decline in favor of thermoformed pulp packaging, which is expected to support market growth
• Bioplastics such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), and polybutylene succinate (PBS) are bio-based biodegradable plastics. Packaging products manufactured using these bioplastics act as substitutes for various molded pulp packaging products
• For instance, Eco-Products, Inc., a manufacturer of molded pulp packaging products, offers a wide range of packaging products such as bowls, containers, and cups manufactured using PLA. Thus, packaging products manufactured from such bioplastics, which meet the sustainability criteria as well as offer superior properties and aesthetic appeal compared to molded pulp products, are expected to restraint to the market growth
• The tray segment recorded the largest market share in 2022 in terms of revenue owing to the high convenience advantage provided by the trays. In the food industry, molded pulp products such as trays are widely used for packaging eggs in retail distribution channels
• The food packaging segment accounted for the highest market value in 2022. Vegetables and fruits including tomatoes, oranges, apples, and strawberries are packaged in molded pulp products for imports and exports. Molded pulp products help in fruit respiration and maintain ethylene density, which is the hormone responsible for the ripening of the fruit
• Canada is expected to grow at a fast CAGR over the forecast period 2023-2030. According to the Ministry of Agriculture, Food and Rural Affairs, Ontario is home to over 28,741 food services and drinking places, which accounted for over 40% of the Canadian market (sizing about 71,939 outlets). In addition, 79% of Gen-Z consumers and 71% of millennials order food & beverage from eateries at least once a week, which creates a great demand for sustainable packaging solutions, thus driving the overall market
• Mergers & acquisitions, collaborations, R&D activities, and expansions are the key strategies being adopted by the companies over the past years. For instance, In October 2022, Specialized Packaging Group acquired Pacific Pulp Molding, Inc., a leading manufacturer of molded pulp and molded fiber products manufacturer based in San Diego, California

North America Molded Pulp Packaging Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 1.33 billion
Revenue forecast in 2030	USD 2.13 billion
Growth rate	CAGR of 6.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

List of Key Players in the North America Molded Pulp Packaging Market

• Brødrene Hartmann A/S
• Huhtamäki Oyj
• UFP Technologies
• Thermoform Engineered Quality
• Genpak, LLC
• Eco-Products, Inc
• Pro-Pac Packaging Limited
• Fabri-Kal
• Henry Molded Products, Inc.
• Sabert Corporation
• Pacific Pulp Molding

Access Press Release of North America Molded Pulp Packaging Market @ https://www.grandviewresearch.com/press-release/north-america-molded-pulp-packaging-market-analysis