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Wood packaging market size to grow by USD 21.6 billion from 2022 to 2027, APAC will account for 44% of market growth - Technavio

NEW YORK , April 20, 2023 /PRNewswire/ -- The global wood packaging market size is estimated to grow by USD 21.6 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.44% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 44% of the market growth during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Wood packaging market - Segmentation assessment Segment overview Technavio has segmented the market based on product (pallets and cases and boxes), application (food and beverages storage, transportation, industrial, shipping, and others), and geography (APAC, Middle East and Africa , South America , North America , and Europe ). Plywood Office Furniture

Wood packaging market size to grow by USD 21.6 billion from 2022 to 2027, APAC will account for 44% of market growth - Technavio

The pallets segment will account for a significant share of market growth during the forecast period. The growth of this segment is attributed to factors such as the growth of the global construction industry. The load capacity of wooden pallets is higher than that of its substitutes, such as plastic pallets. Therefore, end-users in the construction industry can transport high quantities of goods at once with the help of forklift trucks. The rise in industrial production is also expected to fuel the demand for wood packaging globally. The growth of the construction industry will drive the demand for wooden pallets to transport goods such as cement and other construction chemicals. These factors will drive the growth of the segment during the forecast period.

Geography Overview The report provides actionable insights and estimates the contribution of all regions to the growth of the global wood packaging market.

APAC is expected to grow at a significant rate during the forecast period. China and India are the key revenue-generating contributors to the market in APAC. The food and beverage industry is a major end-user of wood packaging. The rise in demand for wood packaging in the food and beverage industry is driving the growth of the market in the region. In addition, retail sales are expected to increase in the future, especially in India and Japan , with government support for foreign direct investment (FDI) in retail businesses. Therefore, the growth of the retail industry in APAC is also expected to increase the demand for wood packaging products.

Insights on the various market segments, including country- and region-wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a sample report

Wood packaging market – Market dynamics

Key factor driving market growth

The cost benefits associated with wood packaging are driving market growth.

Distribution centers, production units, and manufacturing units are focusing on lowering the cost of shipment during the export and import of goods.

Wood packaging, such as pallets and wooden boxes, is cost-effective when compared to substitute products.

Floor spacing and space utilization account for a significant percentage of the shipment cost of goods.

Proper space utilization can reduce the cost by around 54%.

Wooden pallet manufacturers are also introducing stackable pallets to help reduce floor space.

These factors drive market growth during the forecast period.

Leading trends influencing the market 

The growing innovation in wooden pallets is a leading trend in the market.

Vendors are introducing innovative products to hold their market position. They are launching small pallets for display-ready packaging at retail shops that are used for the safe transportation of products.

In an automated supply chain, automated material handling equipment is used.

Smaller pallets help avoid sagging and provide better interfacing with automated material handling equipment.

Such innovations are expected to increase the demand for wood packaging during the forecast period.

Major challenges hindering the market growth

Fluctuating raw material prices will challenge market growth during the forecast period.

Some of the commonly used materials for manufacturing wood packaging include softwood, hardwood, plywood, and composite blocks.

Variations in raw material prices negatively impact the profit margins of manufacturers.

This is because low raw material prices affect the price of the end products.

Therefore, high raw material prices will affect the liquidity of manufacturers, as they will increase the operation cost.

These factors will impede market growth during the forecast period.

To get key insights on market drivers, trends, & challenges for the historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this wood packaging market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the wood packaging market between 2023 and 2027

Precise estimation of the size of the wood packaging market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the wood packaging market across APAC, Middle East and Africa , South America , North America , and Europe

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of wood packaging market vendors

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Accelerate at a CAGR of 5.44%

APAC, Middle East and Africa, South America, North America, and Europe

Iran, India, China, Japan, and Brazil

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Arrington Lumber and Pallet Co., Brambles Ltd., C&K Box Co. Inc., Coxco Inc., FALKENHAHN AG, Greif Inc., InterAgra SC, Kamps Pallets Inc., Millwood Inc., Mondi plc, Nefab AB, Ongna Wood Products, Pacific Pallet Ltd., Palcon LLC, Rowlinson Group Ltd., Shur-way Group Inc., Stora Enso Oyj, Totre Industries, UFP Industries Inc., and United Pallet Services Inc.

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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3.4 Market outlook: Forecast for 2022-2027

4.1 Global wood packaging market 2017 - 2021

6.3 Pallets - Market size and forecast 2022-2027

6.4 Cases and boxes - Market size and forecast 2022-2027

7.3 Food and beverages storage - Market size and forecast 2022-2027

7.4 Transportation - Market size and forecast 2022-2027

7.5 Industrial - Market size and forecast 2022-2027

7.6 Shipping - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

9.3 APAC - Market size and forecast 2022-2027

9.4 Middle East and Africa - Market size and forecast 2022-2027

9.5 South America - Market size and forecast 2022-2027

9.6 North America - Market size and forecast 2022-2027

9.7 Europe - Market size and forecast 2022-2027

9.8 India - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 Iran - Market size and forecast 2022-2027

9.12 Brazil - Market size and forecast 2022-2027

10.3 Impact of drivers and challenges

12.4 C and K Box Co. Inc.

13.3 Currency conversion rates for US$

About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Wood packaging market size to grow by USD 21.6 billion from 2022 to 2027, APAC will account for 44% of market growth - Technavio

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