The latest market report published by Credence Research, Inc. “
Molded Pulp Packaging Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the molded pulp packaging market was valued at US$ 3.30 Bn in 2018 and expected to grow at a CAGR of 4.5% during the forecast period from 2019 to 2027.
Market Insights
“Growing demand for eco-friendly packaging worldwide will drive the demand for Molded Pulp Packaging Market”
Growing demand for recyclable material and eco-friendly packaging solutions around the world are the major factors for the growing demand of molded pulp packaging solutions worldwide. The surge in demand for molded pulp packaging from emerging markets such as India, China, Brazil, and others is another major factor projected to enhance the global molded pulp packaging market over the forecast period. The surge in ban on single-use plastic coupled with growing demand for reusable & sustainable packaging solutions are further projected to drive the global market in the years to come. The growing use of molded pulp packaging solutions in numerous industries such as food & beverages, electronics, healthcare and others is anticipated to drive the market growth throughout the forecast period. In 2018, Asia Pacific had highest share in the global market and projected to continue its dominance over the forecast period.