June 21, 2022 11:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, June 21, 2022 (GLOBE NEWSWIRE) -- The global molded fiber bowls market is projected to reach a valuation of US$ 196.9 Mn in 2022, with sales growing at a 4.2% CAGR over the forecast period.
Molded fiber bowls have gained traction in the foodservice sector as a handy, cost-effective and biodegradable packaging solution. Apart from functional characteristics such as low prices and cleanliness, molded fiber bowls offer easy stackability and grab-and-go features.
Over the last decade, factors such as increased customer preference for home delivery of ready-to-eat food via online food service platforms have significantly pushed the molded fiber bowls market. Sales are expected to be driven by large multi-national quick-service restaurants (QSR) across various countries, as well as increasing penetration of QSRs in emerging economies.
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Furthermore, most QSRs limit their expenditures to cleaning and reserving used containers. As a result, the usage of foodservice disposable containers such as molded fiber bowls, cups, plates, cutlery, and other items allows food-chain operators to reduce labour costs and focus on enhancing customer service and quality.
Surging demand for sustainable packaging solutions across the globe is compelling manufacturers to expand their production facilities and to install technologically advanced manufacturing equipment.
For instance, in June 2021, Jefferson Enterprise Energy and Zume announced a joint venture for creating one of the world’s first entirely renewable energy-powered manufacturing facilities that will produce compostable molded fiber products such as bowls, clamshells, etc. Through this partnership, the companies are planning to support increasing demand for the molded fiber products in North America.
Similarly, in Asia Parason Machinery partnered with Zume Inc. installed a machine line for compostable and eco-friendly tableware manufacturing technology to boost molded fiber product line.
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“Stringent regulations regarding plastic disposal and greenhouse gas emissions, along with functional characteristics offered by molded fiber bowls are some of the key factors expected to boost the market in the forthcoming years,” says an FMI analyst.
Key players operating in the molded fiber bowls market include Huhtamaki Oyj, Sabert Corporation, Pactiv, Green Olive Environmental Technology Co., Ltd., Southern Champion Tray, Be Green Packaging, EAMC Pulp Molding Machine Manufacturer, US Foods, Genera Inc., and Dinearth Eco Friendly Tableware.
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Table of Content 1. Executive Summary
3.1. Key Trends Impacting the Market
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Molded Fiber Bowls Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for molded fiber bowls market by molded pulp type (thick walled, processed pulp, thermoformed, and transfer molded), by distribution channel (online and offline), by end-use (food service outlets, hotels, restaurant & cafes, Quick Service Restaurants (QSR), and others (household)) & region
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Download complimentary copy of FMI’s white paper on ‘Intelligent Packaging for Circular Economy’ in collaboration with Graham Packaging and Avery Dennison
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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