Europe And Northern USA Molded Fibre Packaging Market Forecast to 2030

Europe And Northern USA Molded Fibre Packaging Market Forecast to 2030

Molded fibre packaging products are widely used in handling and packaging various products as they protect the product during shipment and storage. Thermoformed molded fibre packaging gives customer convenience as they provide innovative and complex shapes. They are made of newspapers, natural fibers and other post-consumer products and are easily recycled, ensuring various environmental benefits. The packaging industry is switching from plastic and Styrofoam-based packaging solutions to molded fiber products due to the harmful effects of plastics. Governments across the world and consumers are refraining from using plastic packaging as plastic dumping, which is a major environmental issue due to its harmful effects on land and biodiversity. Therefore, these packaging products meet the international food safety regulations and have food safety certification.

Shifting inclination towards sustainable yet highly recyclable packaging and product-level innovation is one of the crucial factors driving the European and Northern USA thermoformed molded fibre packaging market.

Market Segmentation
The European and Northern USA thermoformed molded fibre packaging market has been segmented based on product type, end-use and country.
Based on product type, the Europe and Northern USA thermoformed molded fibre packaging market has been segmented into trays, clamshell containers, boxes, end cap and others. In 2021, the trays segment accounted for more than 40% of market share, during the foreseeable future.

Based on end use, the Europe and Northern USA thermoformed molded fibre packaging market has been segmented into food, personal care & cosmetics, healthcare and pharma, luxury, electronics and others. In 2021, the food segment accounted for the larger market share of ~39%. The same segment is anticipated to expand by 1.6 times to its value during the forecast period.

Based on country, in 2021, Germany accounted for the largest market share of ~20%, with a market value of USD 87.9 million in the European market. It is projected to register a 4.9% CAGR over the projected period.

The rising research and development in the target market is also driving the market. The European and Northern USA molded fibre packaging market is very competitive due to the presence of several players. The players focus on R&D for increasing the applications of such packaging products through standardization of designs to ensure perfect copy surfaces of the packaged product. The manufacturers focus on producing protective molded pulp trays of different designs and geometric dimensions for a wide variety of products, such as electronic products, candles, consumables, wine, and beer. Several manufacturers are trying to replace plastic products with molded fibre packaging and other environment-friendly products. Therefore, they invest heavily in R&D to replace plastic with molded fibre for various applications.

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