Asia Pacific molded pulp packaging market will grow as the intensity of environmental concerns increases, the adoption of sustainable solutions. Replacement of traditional and non-biodegradable materials such as plastic has become inevitable, considering its environmental impact. Molded pulp is an eco-friendly packaging material used for protecting packaged food, trays, and carriers, amongst others. Smurfit Kappa, Huhtamaki Group, Sonoco Products Company, Hartmann, and DS Smith are some leading molded pulp packaging manufacturers in APAC.
Molded pulp is obtained from non-wood and wood materials including newsprints and paper board. Among their other benefits, molded pulp products can be produced from 100% recycled fiber which makes them 100% recyclable at the end of their lifecycle. The growing demand for custom packaging solutions and food packaging is generating opportunities for the molded pulp packaging market in Asia Pacific.
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Several leading smart packaging companies in Asia are coming up with innovative solutions. For instance, recently in June 2021, Japanese custom packaging company, Toppan, introduced its novel technique for smart packaging. The new technique involves an unconventional NFC chip embedded within the package for a higher security assurance than traditional alternatives. Molded pulp type packaging can also be equipped with built-in NFC capability.
With the poultry industry taking a quantum leap across Asian countries over the past decade, APAC molded pulp packaging market share from eggs segment is slated to rise through 2027. As per the 2019 production data by FAOSTAT, India ranks among the top three egg producers in the world. Egg production has increased from nearly 78.48 billion during 2015-15 to more than 114.38 billion during 2019-20. This indicates the growing demand for egg packaging solutions.
During 2020, the eggs segment represented over 75% of the total molded pulp packaging industry in Asia Pacific. Robust commercialization, alongside the emergence of state-of-the-art production technologies, is pushing the poultry industry in Asia. Over the past decade, a rise of over 24% in egg production was recorded across the globe. The constant growth in middle class population is supporting the expanding consumption of eggs. More agricultural trade activities and a flourishing agribusiness landscape is defining the molded pulp packaging market trends.
During 2020, the molded pulp packaging industry share from rotary molded pulp segment accounted for over 55% of Asia Pacific market, owing to its beneficial characteristics. During the process, the mold is rotated slowly causing the material to scatter uniformly and thereby generating smoother molding pulp for further use.
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The production procedure using rotary molding is easy to maintain and operate. It offers superior molding productivity, at the same time consuming less energy, thereby lowering the total cost of production. The faster setting time and convenient mold tooling interchangeability of this technique is adding impetus to APAC molded pulp packaging market forecast.
As the consumption of molded pulp across electronics, agriculture, food & beverage, and meat & poultry industries expands across China, Japan, India, Indonesia, Singapore, and Thailand, Asia Pacific molded pulp packaging market outlook is likely to present considerable opportunities. Several leading companies are seeking packaging substitutes across the continent. For instance, food and beverage companies are migrating to environmentally safe packaging solutions such as custom molded pulp packaging.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.2 Market estimation & forecast parameters
1.3 List of Data sources
Chapter 2 Executive Summary
2.1 Asia Pacific molded pulp packaging market snapshot
Chapter 3 Asia Pacific Molded Pulp Packaging Industry Insights
3.1 Industry coverage
3.2 Industry size and forecast, 2017 – 2027
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Future trends
3.4.1 Innovation Landscape
3.5 Raw material analysis
3.6 Regulatory norms & directives
3.7 Drivers & restraints
3.8 Application growth mapping
3.9 Industry analysis: Porter’s
3.10 Competitive benchmarking
3.10.1 Strategy dashboard
3.11 PEST analysis
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