The global molded pulp packaging market size is expected to reach $9.1 billion by 2030, according to a new forecast from Research and Markets. That translates into an annual growth rate of 7.6 percent over the period.
Driving that growth: increasing demand for environment-friendly packaging solutions by end-user industries and rising environmental concerns among consumers about single-use plastic.
“Over the years, numerous regulatory agencies and governments around the world have put limitations on the formation of plastic waste in an effort to reduce this enormous amount of plastic waste produced annually,” the report notes. “Several retail chains and food service operators are expected to shift from plastic packaging to molded pulp packaging in order to meet the growing consumer demand for biodegradable packaging.”
The report notes that molded pulp-clamshells packaging is expected to dominate the product segment over the forecast period. “Some countries across the world have banned the use of plastic clamshells for packing eggs, which is likely to positively impact the growth of the market for molded pulp clamshells,” it notes.
Click here for more from the Research and Markets report.
