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(Construction.IndustryNews247.Com, October 18, 2019 ) Market Overview
• Due to rising awareness about the negative impact of usage of plastic on environment will grow the market for the wood packaging in the forecast period.
• Wood packaging material sometimes referred to as Non-Manufactured Wood Packing (NMWP) or Solid Wood Packing Material (SWPM), is a hardwood and softwood. Wood packaging materials are different from wooden products for example plywood, particle board, oriented strand board, veneer and wood wool. These are created by using glue, heat, and pressure or a combination. Wood packaging materials are used in supporting, protecting, or carrying goods. Different examples of wood packaging materials include pallets, crates, boxes, cases, bins, reels, drums, load boards, skids, pallet collars and containers.
Market Dynamics
• The global Wood Packaging market is primarily driven by growth in construction industry and rising industrial production. Packaging is one of the most important parts of the industry and there is increasing demand for wooden packaging these days as the rising awareness about the negative impact of usage of plastic on environment. And also, with the upcoming stringent government regulation for the plastic packaging is having a positive impact on the wood packaging market. For instance, The Austrian federal government is seeking a complete ban on non-biodegradable plastic bags from January 1, 2020 on. The suggested legislation will be part of a larger action against plastic pollution, such as a ban on adding microplastics in cosmetics and to reduce plastic packaging by 25% by 2026
• These packaging are more cost effective and the use of pellets widely in food & beverages as they have ability to absorb bacteria which protect the food from cross- contamination. Increasing food & beverage industry coupled with the stringent regulation of government for the food safety due to the increased consumption for the packaged food & beverages will propel wood packaging market during the forecast period.
• However, fluctuation in the price of the raw material will hinder the market growth.
Market Segmentation
• By product, the global Wood Packaging market is segmented into Wooden Pallets and Wooden Containers. The main advantage of using wooden containers and pallets for packaging is, it can be reused and in case it is damaged it is repaired for reuse. It can be used for 4-5 years. Wood packaging materials are used for packing of Food & Beverages, Grocery, Telecommunications, Dairy, Automotive, Chemicals and Construction.
• By application, the global Wood Packaging market is segmented into Food & Beverages, Shipping, Transportation, and others. Increasing industrial product packaging demands has brought variety of rigid and flexible packaging designs in the market. Packaging is important aspect for safety of products. It allows clean transition with less interference of human contact. Also, it provides advantage while sailing of the products. For shipping of larger consignments, rigid packaging materials are used like wood.
Geographical Analysis
• By geography, the global Wood Packaging market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• North America holds the largest market share for Wood packaging due to the rise in the e-commerce. Increased adoption of wooden pallets in food and beverage industry to transport their products because of its ability to absorb bacteria naturally. Such cost benefits associated with wood packaging is identified as one of the major factors driving the growth of the market for the region. For instance, The U.S. Department of Commerce estimates consumers spent $513.61 billion online in 2018, up 14.2% from 2017. Total retail sales increased 4.1% to $3.63 trillion, according to its figures.
• Asia-Pacific is the highest growing region for the wood packaging industry because wooden pallets and boxes are increasingly being adopted by distribution centers, production units, and manufacturing units because of their cost-effectiveness. Wooden pallets have a lower average cost than plastic pallets and are also fully recyclable. The introduction of stackable pallets will also help in reducing the cost of floor spacing and improve space utilization for end-users.
Competitive Analysis
• Wood Packaging market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab a greater number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Wood Packaging. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Wood Packaging. Merger, acquisition, and product development are key strategies adopted by leading players.
• In March 2017, Pujolasos announced the launch of their new range wooden make up packaging which consists of mascara, nail polish, lip- gloss, lotion and compact. The main aim of the launch is to meet the need and requirement of the customer who want products that are natural and sustainable
• The major players in the market are Universal Forest Products, Inc., Shur-way Group Inc, Palcon, Cox Co, and Stora Enso. Other prominent players in the market are Bay Wood Products, Inc., Rowlinson Packaging Ltd, C&K Box Company, Inc., InterAgra s.c., and Brambles Ltd.
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