To provide a granular molding compound showing reutilization properties as resources and easy treatment properties in treatment after use and excellent not only in moldability but also in the stability of cushioning capacity with the elapse of time, and a molded object.

A granular molding compound is prepared by entirely or partially applying a thermoplastic resin layer to the surface of granular matter, which consists of pulp, hollow fine particles and a binder component, and used to obtain the molded object. The hollow fine particles are dispersed in the intertices of pulp fibers and has function for forming the lightweight granular matter. By compounding the hollow fine particles, the molding compound excellent in lightweight properties and cushioning properties can be obtained.