Wood Packaging Market Size, Share, Growth Trends and Research report 2023-2030

Market Overview
Wood packaging is a general term describing packaging solutions made of wood, such as containers, pallets, boxes, and others used to support, protect, or transport a product. ISPM 15 wood packing material has the IPPC seal, which serves as a replacement for the plant passport for intracommunity movement and the phytosanitary certificate for export. Each company's seal is identified by a unique code.

In the European Union (EU), all wood packaging conforms with ISPM 15. All enterprises making wood packaging must use treated and debarked wood, according to the appropriate rule. Specific wood packing materials must be pre-notified in TRACES.NT and subjected to phytosanitary inspections by the ASTA when imported. ASTA inspects and approves companies in Luxembourg that handle wood packaging material. Packaging encompasses a wide range of businesses, including liquid packaging, packaging adhesives, paper, flexible packaging, and others.

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Market Growth Analysis
According to DataM Intelligence's latest report, the "Global Wood Packaging Market" is estimated to grow at a CAGR of 4.45% during the forecast period 2023-2030.

Market Drivers
The economic advantages of wood packaging are one of the primary factors driving the growth of the market. Distribution centres, production units, and manufacturing units are focusing on lowering shipment costs during the export and import of goods, which include trade packaging costs, sanitization charges, floor spacing and utilization costs, and labour charges during storage and transportation of goods.

Wood packaging, such as pallets and hardwood boxes for export and import, is a more cost-effective solution for end-users when compared to alternative items, such as plastic pallets. The cost of floor spacing and space usage accounts for a considerable portion of the cost of goods shipping. Proper use of space during storage and transportation of products may save up to 54% on costs. Stackable pallets are being introduced by wooden pallet producers to assist in minimizing floor space. Wooden pallets are often preferred for transporting food and beverage products.

Significant Wood Packaging Market Trend
Raising Innovations
Growing innovation in wooden pallets is a significant trend shaping the market growth. The market is very fragmented. Market vendors are offering novel items in order to maintain their market position. Smaller pallets for display-ready packaging are being introduced by wood packaging providers. Half pallets of 24 × 40 inches and quarter pallets of 24 x 20 inches are included. These pallets are also used to move items safely from the production plant to retail outlets.

Wood packaging product producers are producing smarter pallets for easier handling in order to support an automated supply chain, which is helped by automated material handling equipment. Pallets that are smarter are stiffer and more consistent in shape and size. They eliminate sagging and improve interface with automated material handling equipment. With such design and size developments, the demand for wood packaging is likely to rise throughout the forecast period.

Segmentation Analysis
The global wood packaging market is segmented by product type into wooden pallets, and wooden containers; and by application into food & beverages, shipping, transportation.

The pallets segment's market share will expand significantly during the projection period, and the sector is predicted to increase substantially during the projection period. The rapid growth of the global construction sector is the primary driver of this segment. By 2023, the worldwide residential building construction industry is anticipated to be worth USD 7 trillion.

Increased urbanization and increased disposable income are likely to propel APAC to the forefront of the global residential building construction industry. The construction industry's expansion will increase demand for wooden pallets used to carry items such as cement and other building chemicals to construction sites.

Acquisitions/Technology Launches
Stora Enso introduced DuraSense, a new wood-based composite intended specifically for food, cosmetics, and luxury products, in May 2019. The launch's major goal is to replace fossil packaging with sustainable packaging. This will assist them in meeting the growing public desire to limit the use of plastics.
Pujolasos debuted a new line of hardwood beauty packaging in March 2017, including mascara, nail polish, lip gloss, lotion, and compacts. The major goal of the launch is to address the demands and wants of consumers who desire natural and sustainable goods.

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Geographical Share
Geographically, the global wood packaging market is segmented into North America, South America, Europe, Asia Pacific, Middle East, and Africa.
Asia Pacific Had a Significant Market Share of 44%
APAC is expected to contribute 44% of global market growth during the projection period and is predicted to expand significantly throughout the forecast period. This segment's primary end-users are the e-commerce and retail sectors. In 2019, the Chinese e-commerce business was worth USD 813 billion. As a result, several third-party logistics (3PL) businesses are expanding their foothold in China's e-commerce market. The rise of Chinese e-commerce distribution centres is likely to boost demand for wooden pallets and boxes. APAC's largest revenue-generating markets are China and India.

Market Leaders of the Global Wood Packaging Market
1. UFP Industries
2. Shur-way Group Inc
3. Rowlinson Packaging Ltd
4. C&K Box Company, Inc.
5. Totre Industries
6. Palcon
7. Ongna Wood Products
8. ARRINGTON LUMBER & PALLET CO.
9. NEFAB GROUP
10. Mondi

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