Wood Packaging Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Wood Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Wood Packaging Global Market Report 2024, 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.

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.

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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

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 wood packaging market report table of contents includes: