Molded Fiber Punnets Market Reflect Impressive Growth Rate
Molded Fiber Punnets Market: Introduction and Need of the Product
Molded Fiber Punnets have gained significant attention for packaging application of the food and vegetable products, in the last few years. Molded fiber is a fully compostable and recyclable material. It also possesses lots of advantages over the polymer-based alternatives such as lightweight, freshness retain ability, etc. In developed countries, consumers also now prefer buying products in a recyclable packaging product which ultimately increases the demand for molded fiber punnets. Molded fiber punnets are easily available in the market at a competitive price. It is a fast becoming solution for the retailers and brand owners in the developed market. However, the growth is expected to be slower in the developing countries due to the lack of consumer awareness and the predominance of the plastic-based packaging products. Manufacturers of the molded fiber punnets are focusing on the innovation and development of the new product which possesses higher strength and suitable for the packaging of a wide range of products. In the next few years, molded fiber punnets are expected to outgrow the plastics-based packaging products presently available for the food packaging.
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Molded Fiber Punnets Market: Market Dynamics:
The molded fiber punnets market is expected to increase at a growth rate of 6%-7% annually in the next 4-5 years. Most of the manufacturers in the molded fiber punnets market are engaged in marketing their products by attending trade fairs at different locations across the globe. For eg. UFP Technologies, Inc., a US-based manufacturer of molded fiber packaging products, attended Pack Expo International and SustPack in 2016, where its packaging products made up of 100% recycled materials have gained significant attention. Recyclability and sustainability are the two major concerns faced by the global packaging industry. Most of the countries have introduced lots of rules and regulations to get rid of the high amount of packaging waste generated annually. Molded fiber punnets are compostable and made up of the recycled paper material which in turn overcomes all the sustainability challenges.
- In October 2017, CKF Inc. in collaboration with Associated Labels and Packaging Ltd. has launched a new lidding film that strongly adheres to its existing molded fiber punnets products.
- In December 2016, Megg Lux S.a.r.l., a majority stakeholder in French CDL Group, has acquired Omnipac, a leading manufacturer of molded pulp packaging products in Europe.