Global Molded Fiber Trays Market to Reach $2.3 Billion by 2026

Molded fiber is emerging as one of the preferred packaging options due to its sustainable and eco-friendly attributes. The versatile nature of molded pulp and ability to create endless designs are contributing to the increased adoption of molded fiber in packaging applications. The growing prominence of molded fiber as a packaging material for consumer goods, healthcare items, mechanical and automobile parts, electronic items and eggs and fruits can be attributed to its environment friendly attributes. Molded fiber trays are composed of reusable paperboards and paper sheets that are environmentally safe. The advancing and improving molded fiber processing technologies including use of 3D manufacturing are supporting growth in the market. The food and beverage industry demonstrates a huge demand for molded fiber trays, which includes demand for food and beverage packing, and food and beverage disposable packaging.

Amid the COVID-19 crisis, the global market for Molded Fiber Trays estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$2.3 Billion by 2026, growing at a CAGR of 5.2% over the analysis period. Transfer Molded, one of the segments analyzed in the report, is projected to grow at a 5.8% CAGR to reach US$1.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thermoformed Fiber segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 18.5% share of the global Molded Fiber Trays market. Transfer Molded pulp trays have premium finish leading to their high demand for packaging consumer durables and electronic items. A relatively new type of molded pulp, thermoformed molded pulp is considered as a high quality thin-walled product. Key use cases of the material include applications with importance on high definition and appearance, and for point of purchase packaging purposes.

The U.S. Market is Estimated at $420.6 Million in 2021, While China is Forecast to Reach $302.7 Million by 2026

The Molded Fiber Trays market in the U.S. is estimated at US$420.6 Million in the year 2021. The country currently accounts for a 23.65% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$302.7 Million in the year 2026 trailing a CAGR of 6.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$325.7 Million by the end of the analysis period. Europe is among the leading regions with growth supported by rapid advancements in packaging and processing techniques in the past few years and the rising demand for biodegradable, environmentally friendly packaging from different countries. In North America, demand for molded fiber trays is expected to benefit from the robust food processing industry and prosperous trade flows of ready-to-consume packaged food. In Asia-Pacific region, growth is mainly driven by the expanding food and beverages industry. The rising consumption of packaged foods and beverages amongst the working consumer`s is driving market growth.

Processed Pulp Segment to Reach $367.1 Million by 2026

Processed molded pulp is used in several custom applications. The material is subjected to some form of secondary processing, and is hence different from other types by adding another process to basic production process to any of the other procedures. Secondary processing can include processes like hot pressing, coating, printing, trimming, die cutting and even manufacturing through the use of special slurry additives or colors. In the global Processed Pulp segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$217.4 Million in the year 2020 will reach a projected size of US$288 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$47.5 Million by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period.