PUBLISHER: Grand View Research | PRODUCT CODE: 1404667
PUBLISHER: Grand View Research | PRODUCT CODE: 1404667
The Europe transfer molded pulp packaging market size is expected to reach USD 1.04 billion by 2030, expanding at a CAGR of 6.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth of the Europe transfer molded pulp packaging industry is fueled by various factors, including the eco-friendly nature of transfer molded pulp, increasing consumer preference for recyclable materials, the rise in disposable incomes, and the growing demand for packaging that is both reusable and sustainable.
European countries such as Germany, France, Austria, Russia, and the UK are some of the major egg-producing countries globally. As the production and subsequent consumption of eggs continue to grow, there is a parallel need for sustainable packaging solutions to accommodate the packaging of these eggs. Transfer molded pulp packaging offers a protective and eco-friendly option for packaging eggs, ensuring their safe transportation and storage. Hence, the market is witnessing growth due to the rising demand for lightweight and cost-effective packaging solutions for the transportation of fragile products such as eggs.
The increasing consumption of on-the-go products and single-serve meals, driven by the growing number of working professionals in Europe and the desire for convenience, is expected to drive the demand for transfer molded pulp packaging products in the food service industry over the forecast period. The growing popularity can be attributed to the rise in the number of working professionals in European countries. According to Eurostat, the number of working professionals in Europe is expected to exceed 250 million, accounting for approximately 73.1% of the total population in 2021.
Additionally, the employment rate in all EU member states witnessed growth in 2022 compared to the previous year. This increase in the working population has led to a rising trend among consumers to opt for ready-to-eat meals, on-the-go snacks, and beverages from restaurants and fast-food chains, as they offer convenience and time-saving benefits.
The ban on plastic in European countries can be a significant factor driving the growth of the market. In October 2023, England introduced a ban on specific single-use plastic items, which prevents businesses from providing products such as polystyrene cups and plastic cutlery. This initiative is part of a larger goal to eliminate all "unnecessary plastic waste" entirely by 2042. As a result, this outlook is expected to boost demand for alternative packaging materials that are more sustainable and eco-friendly, such as transfer molded pulp packaging across the UK.