PUBLISHER: Grand View Research | PRODUCT CODE: 1575150
PUBLISHER: Grand View Research | PRODUCT CODE: 1575150
The global molded fiber packaging market size was estimated at USD 8.23 billion in 2023 and is projected to grow at a CAGR of 5.2% from 2024 to 2030. Growing consumer-driven demand for sustainable and environmentally- friendly packaging solutions is expected to drive the market growth over the forecast period. Manufacturers are striving to maintain a healthy competitive environment across market space by implementing various strategies.
For instance, in January 2023, Sabert Corporation, a sustainable food packaging manufacturer, announced its commitment to making its product portfolio free from per- and poly-fluoroalkyl substances (PFAS) by the end of 2023. This initiative is in line with the company's plans to offer such products as packaging options in the event of legislation being planned to prohibit PFAS in food packaging.
Eggs are packaged in molded fiber trays and clamshells, which are then sold to restaurants, food service operators, and individual buyers. In addition, per capita egg consumption is increasing worldwide yearly. 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 fiber packaging products, thereby propelling market growth.
The rising consumption of eggs has increased egg production. The graph below represents the total production of eggs in the world in 2020. Eggs are packed in plastic, molded fiber trays, and clamshells, which are then sold to retail chains and food service operators. The U.S., Netherlands, and Turkey are among the top exporters of eggs in the world. Molded fiber packaging can also be used for the storage and transportation of eggs, which is expected to drive the market over the forecast period.
Apart from eggs, fruits such as apples, avocados, guavas, and oranges are packaged in molded fiber packaging products such as trays. Factors such as the growing population, rising disposable income, and the growing trend of a healthy lifestyle are expected to drive the demand for fresh fruits in the coming years, augmenting the demand for molded fiber packaging over the forecast period.
Global Molded Fiber Packaging Market Report Segmentation
This report forecasts revenue growth at regional, and country levels and provides an analysis on latest industry trends and opportunities in each of sub-segments from 2018 to 2030. For this study, Grand View Research has segmented global molded fiber packaging market report based on source, molded type, product, end use, and region: