India Molded Pulp Packaging Market Size To Reach $472.3 Million By 2030

India Molded Pulp Packaging Market Growth & Trends

 The India molded pulp packaging market size is anticipated to reach USD 472.3 million by 2030, expanding at a CAGR of 9.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. This market is primarily driven by the growing demand for sustainable packaging solutions, the increasing need for quick and ready-to-go food & beverages, and strict government policies with regard to plastic packaging.

Growing demand for eco-friendly molded pulp packaging in India is driven by environmental awareness, regulatory support, diverse industry applications, evolving consumer preferences, technological advancements, corporate sustainability initiatives, and consumer preference for environmentally responsible brands. For instance, Fibmold, a startup focusing on sustainable packaging, received a USD 10 million investment from Omnivore and Accel in November 2023 to advance their development of environmentally friendly molded fiber packaging solutions as substitutes for disposable plastics.

The Indian government supports eco-friendly packaging solutions through plastic waste management rules and an Extended Producer Responsibility (EPR) framework to make organizations accountable. FSSAI issued the Food Safety and Standards (Packaging) Regulations in 2018. The regulations define the general and specific requirements for food packaging to ensure that the materials used for packaging comply with various national and international standards. The goal is to ensure the safety of food products and packaging materials.

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India Molded Pulp Packaging Market Report Highlights

• Based on source, the wood pulp segment dominated the market with a share of over 85% in 2023 due to its affordability, biodegradability, recyclability, and versatility in shaping. It also offers good protection and cushioning for fragile items during transportation

• The non-wood pulp segment is expected to grow at the fastest CAGR due to the concerns about deforestation and climate change

• Based on molded type, the transfer segment dominated the market in terms of revenue in 2023.  It is popular in India due to its durability, strength, affordability and eco-friendliness. The thermoformed segment is anticipated to grow at a significant rate during the forecast period

• Based on product type, the trays segment held the largest share in 2023 as they protect products during transport and can be molded into any shape to fit into packaging, preventing damage and material corrosion. Clamshells are expected to grow at the fastest rate during the forecast period

• Based on end-use, the food packaging segment held the largest share in 2023. It becomes a sustainable and cost-effective option for shipping and storing items due to its lightweight, strength, and protective features

• In October 2023, Pakka and Brawny Bear partnered to launch compostable flexible packaging in India's packaging market. The new eco-friendly solution is expected to help reduce plastic waste and promote sustainability. This innovation is a significant stride forward for the industry, offering a sustainable alternative that benefits both consumers and the planet

India Molded Pulp Packaging Market Segmentation

Grand View Research has segmented the India molded pulp packaging market based on source, molded type, product type, and end-use:

India Molded Pulp Packaging Source Outlook (Revenue, USD Million, 2018 - 2030)

• Wood Pulp

• Non-wood Pulp

India Molded Pulp Packaging Molded Type Outlook (Revenue, USD Million, 2018 - 2030)

• Thick Wall

• Transfer

• Thermoformed

• Processed

India Molded Pulp Packaging Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Trays

• End Caps

• Bowls & Cups

• Clamshells

• Plates

• Others

India Molded Pulp Packaging End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Food Packaging

• Food Service

• Electronics

• Healthcare

• Industrial

• Others

List of Key Players in the India Molded Pulp Packaging Market

• Huhtamaki PPL Limited

• Genpak

• Bamboo India

• Pratt Industries, Inc.

• Ecosure Pulp molding Technologies Limited

• Vijay Industries

• Bhambra International

• Good Earth Packaging

• JK Paper

• Cirkla

• GreenLand Enterprises

• Neeyog

• Shree Kias Pack

• Pulp2pack

• Pakka Limited

• Ecoware

• Discover India Packaging

• Dinearth Eco Friendly Tableware