Wood Packaging Market business strategies, Share, Size 2029

Market Overview
The Wood Packaging Market is expected to grow at a CAGR of 4.45% during the forecasting period (2022-2029).

The 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. All wood packaging complies with ISPM 15 in the European Union (EU).

According to the relevant regulation, all businesses producing wood packaging must utilize treated and debarked wood. When imported, specific wood packaging materials must be pre-notified in TRACES.NT and submitted to phytosanitary inspections by the ASTA. Companies handling wood packing material in Luxembourg are inspected and approved by ASTA. Packaging is the huge industries such as Liquid Packaging, Packaging Adhesives, Paper, Flexible packaging, and other industries includes.

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Market Drivers
Growing switch to wood-based packaging from single-use plastic packaging

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. Currently, just 1% of the packaging materials used in Europe and North America are made of bio-based materials. However, the need for bio-based packaging materials, such as wood, is anticipated to increase quickly over the next few years and surpass 9 million tonnes yearly by 2023. As a result, the growing switch from single-use plastic packaging could be recognized as a major market driver.

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Market Segmentation:
By Type
• Pallets
• Cases
• Boxes
By Application
• Food and Beverages
• Shipping
• Transportation
• Construction

Competitive Landscape
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.

For instance, PalletOne, Inc., a subsidiary of UFP Industries, has purchased a 50% equity position in Dempsey Wood Products, LLC as of June 27, 2022. PalletOne has options under the purchase agreement to buy the remaining 50% of Dempsey in three years. Ronald Dempsey established Dempsey Wood Products in 1988. The company operates out of a single facility in Orangeburg, South Carolina, where it manufactures kiln-dried timber, pallet lumber, and other industrial wood goods. Sales for Dempsey in 2021 totaled US$68.9 million.

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