by Corinne Gangloff
April 13, 2020
The US molded pulp packaging market is forecast to grow 6.1% annually to $1.3 billion in 2024, a new Freedonia Group analysis finds. Though near-term disruptions in supply and demand will result from the COVID-19 novel coronavirus pandemic, the key trends driving molded pulp packaging sales – namely, rapidly expanding demand for sustainable packaging alternatives – are expected to support a quick return to strong growth as the effects of the virus subside.
US demand for molded pulp packaging is expected to climb at a robust pace through 2024 due to molded pulp’s environmental advantages, specifically its recyclability, biodegradability, and ability to be composted in industrial facilities. Other key factors supporting strong sales growth include:
Over the long term, the fastest annual sales increases are projected for the foodservice market, as eating and drinking establishments increasingly invest in environmentally friendly molded pulp clamshells, plates and bowls, and lunch trays for delivery, takeout, and for serving food.
The COVID-19 pandemic is having a significant near-term impact on the US molded pulp packaging market as:
Nevertheless, continued use of drive-thru and carryout foodservice and grocery stores will help sustain sales during the crisis. And a boost in online shopping among self-isolating consumers has the potential to drive up sales of molded pulp protective packaging.
Looking for more?
See Molded Pulp Packaging, now available from The Freedonia Group. This study covers US demand for molded pulp – also known as molded fiber – packaging. Historical demand is presented for the years 2009, 2014, and 2019, with forecasts to 2024, in current US dollars at the manufacturers’ level, by market (primary packaging for food and nonfood items; foodservice packaging; and protective packaging) and application. Demand is also broken out by product type. Unit demand data is also available for selected products. The study also features a comprehensive corporate analysis, including market share by company.
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