Molded Fiber Packaging Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Molded Fiber Packaging Industry Hit Worst due to Russia-Ukraine War Impact?
The global molded fiber packaging market size is expected to gain momentum due to the growing packaging industry demand during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Molded Fiber Packaging Market, 2022-2029.” The increasing demand in end-use industries, environmentally friendly protective packaging solutions, research and development investments are some of the major contributing factors. For instance, AR Packaging and PulPac partnered in July 2021 to leverage the PU300 production platform to address the growing need for inexpensive and sustainable fiber pulp products.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Molded Fiber Packaging Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Molded Fiber Packaging Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
Negative Impact of Covid-19 on Spandex Industry
The COVID-19 epidemic halted production in various industries, including molded fiber packaging, affecting market expansion. Since the pandemic outbreak, the packaging industry has been experiencing slowdowns, which has been primarily caused by the closure of manufacturing operations in key end-use industries.
By type, the market for molded fiber packaging is segmented into thick walled, transfer molded, thermoformed fiber, processed pulp. On the basis of end-use, the market is segregated into food & beverages, electronics, personal care, healthcare, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report is a collection of first-hand knowledge, qualitative and quantitative analysis by industry analysts, and input from industry professionals and value chain players—an in-depth overview of current research and clinical advancements in the molded fiber packaging.
Drivers & Restraints-
Environment-Friendly Packaging to Stimulate Growth
The global molded fiber packaging market growth is expected to grow due to the rising demand in food delivery during the projected period. The comfort with which molded fiber-packed products can be handled and the fact that they are an environmentally safe material has led to their adoption as a plastic substitute, which is expected to drive the worldwide molded fiber pulp packaging market forward. It is a cost-effective option to other types of packaging, which is a major driving force behind the market’s growth. This packing form also has the advantage of being more robust in humid and high-temperature environments.
Asia Pacific is expected to hold the largest global molded fiber packaging market share during the forecast period. The rising demand for egg tray goods, the production, and consumption of is increasing due to the ease of producing and recycling paper-based products, China is leading the region.
North America is expected to have a sizable share of the market. The growing foodservice enterprises such as restaurants, fast-food outlets, catering services, out-of-home dining due to busy lives, and increasing disposable income are major contributing factors.
Manufacturers Focus on R&D Investments to Strengthen their Position
The global and regional players present, the industry is fiercely competitive. Companies offer a diverse selection of products in a variety of shapes, sizes, and colors. Furthermore, they provide customized packaging to meet the needs of individual customers. Over the previous few years, the market has seen a number of new product introductions.
- May 2019: Huhtamaki launched the debut of its innovative fiber-based meal trays for Waitrose & Partnership to replace black plastic. The trays are suitable for both microwave and normal ovens. These trays are recyclable and certified for composting at home.
List of Key Players Profiled in the Global Market for Molded Fiber Packaging:
- Henry Molded Products
- Robert Cullen Ltd
- Brodrene Hartmann A/S
- UFP Technologies
- Huhtamaki Oyj
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