Molded Fiber Packaging Market in Americas 2018-2022
About Molded Fiber Packaging
Molded fiber is a 100% biodegradable packaging, which has natural resilience and blocking and bracing capabilities. Molded fiber is a more cost-effective option than expanded polystyrene (EPS) and other foam product packaging.
Technavio’s analysts forecast the molded fiber packaging market in Americas to grow at a CAGR of 7.21% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the molded fiber packaging market in Americas for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Molded Fiber Packaging Market in Americas 2018-2022
Technavio recognizes the following companies as the key players in the molded fiber packaging market in Americas: Hartmann, Huhtamaki, and UFP Technologies.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological innovations in machinery. Innovation in machinery is an important trend in the molded fiber packaging market because vendors must ensure high efficiency in the handling and transportation of products with the lowest possible risks of breakage and wastage. Therefore, equipment maintenance and the adoption of new equipment are of high importance in this market.”
According to the report, one driver in the market is growing demand for green packaging. The high level of awareness about environmental sustainability in the Americas has led to an increase in the demand for green as well as sustainable packaging solutions. This demand is expected to experience a steady growth during the forecast period. The global green packaging market was valued at around $130 billion in 2014 and is predicted to grow to more than $200 billion by 2021. Also, the US is the largest market for green and sustainable packaging solutions.
Further, the report states that one challenge in the market is high capital investments in maintenance of molded fiber packaging equipment. Regular maintenance of equipment is important to keep the premises, machines, equipment, as well as the work environment reliable and safe. This, in turn, helps in eliminating workplace hazards, accidents, and health problems. Therefore, the maintenance of equipment is a high priority in the molded fiber packaging market.
Hartmann, Huhtamaki, and UFP Technologies.