Molded Pulp Packaging Expected to Grow to $4.3 Billion
Posted on: March 22nd, 2022
According to Global Market Insights Inc., a market research and consulting service provider based in Delaware, U.S., the global molded pulp packaging market is expected to exceed some $4.3 billion by 2026.
The exponential growth of the molded pulp packaging market is due to an increase in environmental concerns worldwide and more strict government regulations on plastic production (such as the proposed ban on single-use plastics in Canada).
Global Market Insights predicts, “The molded pulp packaging market segment will account for over 25% of the global demand share in 2026.”
The problem with plastic packaging is twofold. One, it wasn’t designed to be biodegradable. Therefore, to be considered sustainable, it must be recycled repeatedly. And two, plastic packaging is often not properly recycled, if recycled at all.
According to Supply Chain Solutions Center, “Due to poor product design and lack of political infrastructure, most plastic packaging waste is sent to landfills or disposed of into the environment. As a result, 9.2 billion tons of plastic have been produced, of which only 9 percent have been recycled properly. Furthermore, because plastic isn’t biodegradable, every piece of plastic ever made is still on this planet.”
While molded pulp packaging has been primarily used in poultry (egg containers) and agriculture (easily bruised fruits and vegetables) for their natural shock-absorbing properties, shipping and manufacturing sectors are starting to take notice.
Some of the benefits of molded pulp packaging include:
- Sustainable packaging shows corporate social responsibility
- Satisfies growing consumer demands for eco-friendly packaging materials
- Decreases your carbon footprint and lowers shipping costs
- Optimizes packaging, which can save millions
- Creates new materials from existing materials naturally, which uses less energy than using raw materials
- Provides the same if not greater product protection compared to styrofoam packaging
Learn more about HC’s fiber production process, and give us a call today to learn how we can customize solutions for your business.
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