Press release
Wood Packaging Market Size, Driving Factors, Growth Statistics, Competitive Landscape And Forecast To 2033
Wood Packaging Market Analysis
The Business Research Company offers in-depth market insights through Wood Packaging Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The wood packaging market size has grown steadily in recent years. It will grow from $11.84 billion in 2023 to $12.42 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to traditional packaging methods, regulatory compliance, preference for sustainable packaging, strength and durability requirements,cost-effectiveness, global trade expansion.
The wood packaging market size is expected to see strong growth in the next few years. It will grow to $15.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to circular economy initiatives, e-commerce expansion, innovations in wood treatment, regulatory support for sustainable practices, consumer perception and branding. Major trends in the forecast period include sustainable sourcing and eco-friendly practices, technological advancements, customization and design innovation, circular economy initiatives, stringent regulations and compliance.
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Market Segmentation:
The wood packaging market covered in this report is segmented -
1) By Type: Pallets, Boxes And Bins, Crates And Cases, Spools, Dunnage
2) By Material: Hardwood, Softwood, Plywood
3) By Application: Food And Beverages Storage, Transportation, Industrial, Shipping, Other Applications
Major Driver - Wood Packaging Market Surges With Growing Demand For Sustainable And Environment-Friendly Packaging
The rising popularity of sustainable and environment-friendly packaging is expected to propel the wood packaging market. Sustainable packaging refers to eco-friendly material used to ship, wrap, and store products. Consumers across the world are showing interest in sustainable packaging that is recyclable and environmentally friendly, and wood packaging is one of the sustainable packaging alternatives. For instance, in April 2021, according to Food Dive, a US-based journal website, two-thirds (67%) of consumers considered recyclable and environmentally friendly packaging. More than half (54%) consider sustainable packaging while selecting a product. Among the consumers aged 44 years and younger, 83% of them reported that they are willing to pay more for sustainable packaging than 70% of all consumers. Therefore, the rising popularity of sustainable and environment-friendly packaging drives the wood packaging market.
Competitive Landscape:
Major companies operating in the wood packaging market report are Brambles Ltd., Greif Inc., Mondi Group, Nefab AB, PalletOne Inc., Rowlinson Packaging Ltd., Shur-way Group Inc., UFP Industries Inc., Hemant Wooden Packaging, Spruce Pax Private Limited, SHREE SAIRAM INDUSTRIAL CORPORATION, Rajat Packers, Totre Industries, Cox Co, PackXpert India Private Limited, CHEP, C&K Box Company Inc., InterAgra s.c., Universal Forest Products Inc., Pal-Con Ltd., Stora Enso, Arrington Lumber and Pallet Co., Falkenhahn AG, Kamps Pallets Inc., DS Smith plc, IPL Plastics Inc., Menasha Corporation and Co., Myers Industries Inc., Pallet Central Enterprises Inc., Pallet Logistics of America LLC, Schoeller Allibert, Schutz GmbH, Vetropack Holding
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Top Trend - Companies Introducing Technologically Advanced And Patented Mono-Material Wooden Cap In The Wood Packaging Market
Technological advancement is a key trend in the wood packaging market. Major companies operating in the wood packaging market are advancing in their new technologies and research and developments in the wood packaging market. For instance, in January 2022, Pujolasos, a Spain-based wood packaging company, launched Woorigin. This new patented mono-material innovation offers unique features, including a mono-material wooden cap, free of glues and plastics and 100% PEFC or FSC wood certification. It is based on click technology that further enhances the user experience.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wood Packaging Market Characteristics
3. Wood Packaging Market Trends And Strategies
4. Wood Packaging Market - Macro Economic Scenario
5. Wood Packaging Market Size And Growth
…..
27. Wood Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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