India Molded Pulp Packaging Industry Overview
The India molded pulp packaging market size is expected to reach USD 600.7 million by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 12.1% over the forecast period. Growing demand for eco-friendly, biodegradable packaging solutions to replace its plastic counterparts is expected to drive market growth. The market is highly unorganized with several small- and medium-scale companies manufacturing egg trays and fruit trays using recycled pulp.
India Molded Pulp Packaging Market Segmentation
Grand View Research has segmented the India molded pulp packaging market on the basis of source, pulp type, technology, and application:
Based on the Source Insights, the market is segmented into Wood Pulp, Non-wood Pulp.
- The wood pulp source segment accounted for a revenue share of over 74% in 2020. In India, hardwood used by the pulp and paper industry is generally sourced from eucalyptus. Other hardwood pulp sources include Poplar, birch, and maple. India imports hardwood pulp from Asian countries, especially Indonesia and Malaysia.
- The wood pulp segment witnessed a growth of over 40%, in terms of price. Such factors are expected to limit the growth of wood-based products over the projected period. Packaging materials, such as foodservice disposables, directly come in contact with food items and thus, need to be manufactured only from virgin pulp, thereby, driving the demand for non-wood pulp in this application.
Based on the Pulp Type Insights, the market is segmented into Recycled, Virgin.
- Virgin pulp accounted for the largest revenue share of 56.39% in 2020, on the back of its superior processability and appearance compared to its other counterparts. Virgin hardwood pulp is preferred for applications where rigidity is a key parameter.
- Recycled pulp is also gaining momentum in the Indian market owing to the increasing efforts for recycling waste or discarded paper. The increasing importance of sustainability and awareness regarding deforestation and plastic landfills are likely to support the growth of recycled pulp for packaging applications.
Based on the Technology Insights, the market is segmented into Thick Wall, Transfer Wall, Thermoformed, Processed.
- Transfer molded packaging accounted for the largest revenue share of 54.06% in 2020. It is popular among all the molded pulp packaging types owing to its properties like high weight tolerance and strength.
- Thermoformed molded packaging is anticipated to witness the fastest CAGR over the forecast period. Over the recent years, thermoformed molded pulp packaging products are standing as an alternative for thermoformed plastic packaging products.
Based on the Application Insights, the market is segmented into Food Service, Electronics, Healthcare, Industrial, Others.
- The foodservice segment accounted for the largest revenue share of 56.32% in 2020 owing to the increased awareness among consumers regarding health and environmental hazards associated with plastic products, which compelled market players in the foodservice industry to invest in biodegradable packaging solutions.
- The electronics manufacturing companies are focusing on consumer experience while unboxing the products. Increasing consumer attention towards sustainable packaging coupled with government regulations has been pushing electronics companies to opt for environmentally friendly packaging solutions.
- The demand for these products in India is in a nascent stage. The lack of awareness regarding the products and underdeveloped waste disposable systems at healthcare facilities are the key factors limiting the use of molded pulp disposable products.
Key Companies Profile Market Share Insights
The market is unorganized and is characterized by the significant presence of small- and medium-scale players. Companies offer a wide range of products that are available in a variety of shapes, sizes, and colors.
Some prominent players in the India molded pulp packaging market include
- Shree Kias Pack
- Neeyog Packaging
- Pulp2pack
- SR Pulp
- Maspack Ltd.
- Rajdhani Polypacks
- Yash Pakka Ltd.
- Ecoware
- Discover India Packaging
- Dinearth Eco-Friendly Tableware
- Prosper Universal Pvt. Ltd.
- SM Group
- KSP Fibre Products Pvt. Ltd.
Order a free sample PDF of the India Molded Pulp Packaging Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
