LONDON--(BUSINESS WIRE)--The global wood packaging market size is poised to grow by USD 16.99 billion during 2020-2024, progressing at a CAGR of 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The introduction of stackable pallets is expected to drive the growth of this industry during the forecast period. The food and beverage industry is also increasingly adopting wooden pallets to transport the products because of its ability to absorb bacteria naturally. One of the main reasons for the wide adoption of wood pallets is that they have a lower average cost than plastic pallets and are also fully recyclable. Such cost benefits and diverse uses associated with wood packaging will drive the growth of the global wood packaging market during the forecast period.
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Report Highlights:
- The major wood packaging market growth came from the pallets segment. The growth in the global construction industry is the key factor driving the growth of the segment.
- APAC was the largest wood packaging market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the expansion of e-commerce distribution centers will significantly drive the wood packaging market growth.
- The global wood packaging market is fragmented. Brambles Ltd., Greif Inc., Kamps Pallets Inc., Millwood Inc., Mondi Group, Nefab AB, PalletOne Inc., Rowlinson Packaging Ltd., Shur-way Group Inc., and Universal Forest Products Inc. are some of the major market participants. To help clients improve their market position, this wood packaging market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global wood packaging market 2020-2024 is expected to have a positive impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
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Innovations in terms of design and size will be a Key Market Trend
The versatile use of pallets is allowing wood packing companies to come up with innovative products such as half pallets and quarter pallets to improve their market position and stay competitive in this highly fragmented market. Smart pallets are also being introduced by vendors to facilitate material handling in an automated supply chain. The stiffness and uniform geometry of smart pallets allow better interfacing with automated material handling equipment. Innovations in terms of design and size will drive the demand for wooden pallets during the next five years.
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Wood Packaging Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist wood packaging market growth during the next five years
- Estimation of the wood packaging market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the wood packaging market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of wood packaging market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Pallets - Market size and forecast 2019-2024
- Cases and boxes - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Brambles Ltd.
- Greif Inc.
- Kamps Pallets Inc.
- Millwood Inc.
- Mondi Group
- Nefab AB
- PalletOne Inc.
- Rowlinson Packaging Ltd.
- Shur-way Group Inc.
- Universal Forest Products Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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