Molded Fiber Packaging Market was valued at US$ 7.04 Bn in 2016 and is expected to reach US$ 11.69 Bn by 2025, expanding at a CAGR of 5.9% from 2017 to 2025.
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The growing demand from egg packaging manufacturers is one of the primary growth factors for this market. Molded fiber is extensively used for egg packaging.
This augmented preference is mostly due to the optimal protection it offers that eradicates breakage throughout the supply chain, right from storage and distribution to transportation. This type of packaging also avoids loss of moisture and prevents eggs from rotting and losing its quality.
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Furthermore, molded fibers are also ergonomic and tangible in nature, which again makes them perfectly suitable for egg packaging.
Additionally, with the need to promote environmental sustainability, several consumer product manufacturers have started preferring eco-friendly packaging material. Therefore, vendors in this marketplace will make huge R&D investments to develop inventive technologies, which will help them distinguish themselves from their competitors.
Technological advancements such as barrier coatings, quick response codes, and holographic images enable vendors to develop better folding cartons for packaging and this will thus, help them increase efficiency and reduce costs.
Food and beverages industry segment is anticipated to witness more market share during the conjecture period.
The food and beverages segment accounted as the most lucrative segment of the Global Molded Fiber Packaging Market and is anticipated to experience high demand throughout the research period. Furthermore, at present, the food and beverages industry witnesses the largest market share of the global market.
Additionally, consumer packaging goods companies constantly change their packaging designs and labeling according to the demand of customers. These changes in package designs and labeling are key differentiating factors for the sale of products.
The American region is expected to register as the foremost segment of the global market.
On the geographical point of view, the Americas will be the leading revenue contributor to the global market throughout the study period. The rising demand for consumer goods such as household products and food and beverages will be the key drivers for the market’s growth in this region.
Furthermore, countries such as Brazil, Argentina, and Mexico will allege a considerable upsurge in the demand for the Global Molded Fiber Packaging Market over the estimated time frame.
Leading market players are focusing on improving services through continuous research and development activities. Market players are introducing technological improvements to their product portfolio in order to reinforce their market position and to increase total market share.
Some of the significant players functioning in the Global Molded Fiber Packaging Market include Huhtamaki, UFP Technologies, Moulded Fibre Product, Henry Molded Products, Brodrene Hartmann, Cullen Packaging.
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