Latest News- Wood Packaging Market: Pallets is expected to lead the Product segment during 2024-2028
The Wood Packaging Market is being driven by Cost benefits associated with wood packaging
The Wood Packaging Market is expected to grow at a CAGR of 4.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 18.8 billion. The global wood packaging market exhibits a high degree of fragmentation, with vendors continually innovating to maintain their competitive edge. Notably, there has been an increasing trend towards the production of smaller pallets, such as half pallets measuring 24 x 40 inches and quarter pallets measuring 24 x 20 inches. These pallets cater to the growing demand for display-ready packaging at retail outlets and ensure safe product transportation from manufacturing units. Furthermore, in the context of automated supply chains, which rely on automated material handling equipment, manufacturers are introducing smarter pallets. Characterized by their uniform geometry and increased stiffness, these advanced pallets facilitate easier handling and streamline the overall supply chain process.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Pallets, Cases and boxes) Application (Food and beverages storage, Transportation, Industrial, Shipping, Others) Geography (APAC, Middle East and Africa, South America, North America, Europe).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Wood Packaging Market Research Report
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The wood packaging market encompasses a wide range of products, including drums, boxes, cases, crates, and pallets. These packaging solutions are essential for various industries, particularly in the transportation of goods, especially in sectors like food & beverages storage, where the need for durable and protective packaging is paramount. However, concerns about deforestation and the ecological impact of wood packaging have arisen due to the use of softwood and hardwood in their production. Plywood and other wood-based materials are commonly used in the manufacturing of drums, boxes, cases, crates, and pallets. The transportation costs and carbon emissions associated with the production and transportation of wood packaging have also raised concerns. To address these issues, sustainable packaging alternatives, such as ecofriendly packaging materials, are gaining popularity. Wooden packaging can still be an export-oriented and ecommerce-friendly solution, but it's crucial to ensure that it is produced using sustainable and responsibly sourced wood. Dunnage, wooden spools, bins, and other wooden packaging solutions are also essential in various industries, and their impact on the environment should be considered. Overall, the wood packaging market must prioritize sustainability and responsible sourcing to meet the demands of modern consumers and mitigate the negative ecological impact.
According to Technavio, the wood packaging market is a significant segment of the global paper and plastic packaging products and materials market. Paper packaging, a cost-effective and eco-friendly alternative, offers advantages such as lightweight, biodegradability, and recyclability. This category encompasses products like packaging boards, kraft paper, and other packaging papers. In contrast, plastics are widely adopted for their superior performance, durability, and cost-effectiveness in various industries. Depending on the nature of the commodity being transported, plastics can be engineered into diverse grades and material combinations, including polyvinyl chloride, polypropylene, and polyethylene.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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