Wood Packaging Market Size, Share, Growth Outlook
DataM Intelligence published a business research report on the Wood Packaging Market by Type, Application, and By Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts for 2022–2029. Wood Packaging with 110+ market data Tables, Pie Chat, Graphs, and Figures spread concluded Pages and easy-to-comprehend complete analysis. The data is collected based on modern floats and requests acknowledged with the administrations and items.
The wood Packaging Market report comprises historic data, current market trends, environment, technological innovation, upcoming technologies, and the technical progress in the correlated industry. Wood Packaging Market offers a complete, proficient report delivering market research information that is related to new market entrants or set-up players. Key strategies of the companies operating in the market and their effect analysis have been comprised in the full report.
The wood Packaging Market is expected to grow at a CAGR of 4.45% during the forecasting period (2022-2029).
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Wood packaging is the broad word for packaging solutions such as containers, pallets, boxes, and others constructed of wood to support, protect or carry a commodity. The IPPC seal, which substitutes the plant passport for intracommunity transport and the phytosanitary certificate for export, is on wood packaging material prepared in accordance with ISPM 15. This respective seal has a unique code for each company.
Wood Packaging Market Growth Drivers Insights
Innovative bio-based materials as substitutes for polymers derived from fossil fuels for packaging applications have been developed in response to growing environmental concerns from businesses and consumers. There is much space for improvement and researchers are attempting to develop sustainable plastic substitutes that might be just as useful, affordable and common as conventional plastics. A promising strategy that can potentially cut greenhouse gas emissions significantly is the development of bio-based packaging materials. Alternatives to plastic made from biomaterials are produced using plant-based raw materials, which help plants absorb atmospheric CO2 as they grow.
These bio-based products are almost carbon-neutral when recycled or composted since CO2 is released back into the atmosphere (as the manufacturing process generates negligible greenhouse gasses). In the last ten years, bio-based materials have increased significantly in the sustainable packaging sector, signaling a shift toward waste reduction, greener packaging, and a concentration on biodegradable and biorenewable materials.
COVID-19 Impact on the Global Industry
The earliest waves of COVID-19 had a detrimental influence on the global wood packaging market, just like any other market. The necessity for specialized workers, substantial industrial reagents, and large-scale machinery for the industrial-scale manufacture of wood packaging has delayed its production. Curfews in the industry and the requirement for social isolation during the pandemic greatly hindered production. The availability of raw materials required to produce wood packaging and completed items was significantly restricted by the COVID-19 pandemic’s worldwide lockdown. Supply and demand dynamics in the wood packaging market were significantly altered.
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Wood Packaging Market Segmentation Analysis:
Wood Packaging Materials Market By Product Type: Wooden Pallets, and Wooden Containers
Wooden pallets are crucial to the global handling and distribution process because they allow for transport and storage platforms’ safe, efficient movement. For instance, according to Rose Pallet Company, U.S. wood industry collects 42% of the annual increase in hardwood timber that is physiologically available for harvest. Additionally, more than 1.8 billion pallets are used daily in U.S. and 93% are made of wood.
Wood Packaging Materials Market By Application: Food & Beverages, Shipping, and Transportation
The food and beverage sector uses pallets the most globally, second by the chemical and pharmaceutical sector, than agriculture. Further, The main benefit of using wooden pallets for packaging is that they have a four to five-year lifespan and can be fixed for reuse if they get broken and reused. All the aforementioned factors allow the pallets segment to dominate the type segment of the global wood packaging market.
Wood Packaging Materials Market By Region: North America, Europe, Latin America, Asia Pacific, Middle East and Africa, and Rest of the global countries.
Regional Presence Insights
The large-scale adoption of wood pallets in Asia-Pacific’s packaging and shipping business, along with growing investments in the region, boosts the region’s wood packaging market.
Since pallet utilization has been relatively high in the Asia-Pacific area throughout the forecast years, Asia-Pacific is heavily favored to dominate the regional segment of the global wood packing market. For large-scale imports and exports of products, the region exhibits the largest utilization of wooden pallets. The most developed markets in the upcoming years are likely to be found in nations like China, India and Japan. Furthermore, the Asia-Pacific pallet market has been characterized by the sustainability theme.
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Major Companies Leading The Global Wood Packaging Market:
The global wood packaging market is highly dynamic, competitive, and filled with global and local producers. The market is fragmented due to the presence of numerous large-scale manufacturers such as UFP Industries, Shur-way Group Inc, Rowlinson Packaging Ltd, C&K Box Company, Inc., Totre Industries, Palcon, Ongna Wood Products, ARRINGTON LUMBER & PALLET CO., NEFAB GROUP and Mondi. Pivotal market stakeholders employ tactics like mergers, acquisitions, product launches, contributions and collaborations to gain competitive advantages and recognition in their respective markets.
Key developments in the Industry
Wood Packaging Market Table of Content:
1) Methodology and Scope
2) Market Definition and Overview
3) Executive Summary
4) Global Dynamics
5) Industry Analysis
6) By Product Type
7) By Application
8) By Region
9) Competitive Landscape
10) Company Profiles
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Key Points Covered in the Full Report:
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