Wood Packaging Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Global wood packaging market size is expected to reach $15.27 Bn by 2028 at a rate of 5.3%, segmented as by type, pallets, boxes and bins, crates and cases, spools, dunnage

Jun 19, 2024 - 12:58

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Wood Packaging Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Wood packaging refers to the packaging made of wood, used to pack, transport, handle, preserve, present, and add value to products such as Veggies and fruits, seafood, fish, spirits, and wines. Wood packaging helps reduce the carbon footprint.

Sizing and 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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Segmentation & Regional Insights
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

North America was the largest region in the wood packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global wood packaging market report during the forecast period. The regions covered in the wood packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.
Key Industry Players
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

The wood packaging market report table of contents includes
1. Executive Summary
2. Wood Packaging Market Characteristics
3. Wood Packaging Market Trends And Strategies
4. Wood Packaging Market - Macro Economic Scenario
5. Global Wood Packaging Market Size and Growth
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31. Global Wood Packaging Market Competitive Benchmarking
32. Global Wood Packaging Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Wood Packaging Market
34. Wood Packaging Market Future Outlook and Potential Analysis
35. Appendix