Among a slew of end-use industries, food and beverage packaging is likely to contribute substantially to the growth of molded fiber clamshell and container market, says Transparency Market Research (TMR) in one of its research reports. Consumer electronics and consumer durables is expected to be another key contributor to the growth of molded fiber clamshell and container market, finds TMR.
Serving such lucrative end-use industries, this validates predicted stellar growth of molded fiber clamshell and container market at a CAGR of 6% between 2017 and 2022. Expanding at this pace, the market will be valued at more than US$ 2.7 bn by 2022 rising from US$2 bn in 2017.
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Favorable Physical Properties advocates Demand
Rising demand for molded fiber clamshell and container is attributed to factors such as cheap cost, light weight, and environmentally sustainable constitution. Changing lifestyle and vast demand for packaged food and beverages is resulting in increasing demand for sustainable packaging solutions. This includes molded fiber clamshells and containers.
Hectic lifestyle in urban areas is arousing demand for packaged fruits and vegetables that are ready to use. This requires sustainable packaging for longer shelf life of cut fruits and vegetables. Molded fiber clamshell and containers serve the purpose.
Molded fiber clamshell and containers are environment friendly too. This accounts for their increasing use serving as sustainable packaging solutions. Rising environment protection policies in emerging economies of Asia Pacific have led to surge in demand for sustainable packaging solutions. Environmental organizations along with cooperation of individuals are striving to adopt environment friendly solutions for everyday needs. Molded fiber clamshell and containers serve the purpose.
Europe to Continue to display Substantial Demand
Besides this, Europe is predicted to continue to display substantial demand for molded fiber clamshell and containers. Vast demand for packaged fruits, vegetables, and dairy that are retailed via supermarkets is a key factor behind steady demand for molded fiber clamshell and containers in the region. Hectic lifestyle and mostly nuclear family structure accounts for weekly grocery shopping practices for convenience. Individuals and families opt for food packaging solutions that ensure expanded shelf life of cut fruits and vegetables. Practices of bulk shopping of perishable items necessitate sustainable packaging solutions to minimize damage. Molded fiber clamshell and containers aptly serve the purpose. Serving this demand, Europe molded fiber clamshell and containers market is predicted to be worth US$923 mn by the end of 2022.
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The report discusses the competitive landscape of molded fiber clamshell and containers market at length. According to the report, molded fiber clamshell and containers market features a fragmented vendor landscape. Presence of several large companies with considerable market share renders high degree of competition in the molded fiber clamshell and containers market.
Huhtamaki Oyj, Henry Molded Products Inc., UFP Technologies Inc., KapStone Paper and Packaging, Biodegradable Packaging for Environment Co. Ltd., Kinyi Technology Limited, EnviroPAK Corporation, ESCO Technologies Inc., Pactiv LLC, OrCon Industries Corporation, FiberCel Packaging LLC, Pacific Pulp Molding LLC, Southern Champion Tray, and KEYES Packaging Group.
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