Wood Packaging Global Market Report 2024

The wood packaging market 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 expansion observed in the historical period can be ascribed to conventional packaging approaches, adherence to regulatory requirements, a penchant for sustainable packaging, the need for strength and durability, cost-effectiveness, and the global expansion of trade.

The wood packaging market 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 anticipated expansion in the forecast period can be credited to initiatives promoting a circular economy, the burgeoning expansion of e-commerce, advancements in wood treatment innovations, regulatory backing for sustainable practices, and the influence of consumer perception and branding. Key trends expected in this forecast period encompass the promotion of sustainable sourcing and eco-friendly practices, technological advancements, a focus on customization and design innovation, the continuation of circular economy initiatives, and adherence to stringent regulations and compliance.

The wood packaging market is expected to experience growth due to the increasing popularity of sustainable and environmentally friendly packaging. Sustainable packaging involves the use of eco-friendly materials for shipping, wrapping, and storing products. Consumers worldwide are displaying a growing interest in recyclable and environmentally friendly packaging options, with wood packaging emerging as one of the sustainable alternatives. In April 2021, a report by Food Dive, a US-based journal website, revealed that 67% of consumers prioritize recyclable and environmentally friendly packaging, and 54% consider sustainability when choosing a product. Notably, 83% of consumers aged 44 and younger expressed a willingness to pay more for sustainable packaging, surpassing the overall average of 70%. This increasing preference for sustainable and eco-friendly packaging is a key driver for the wood packaging market.

The wood packaging market is also expected to benefit from the growth of the e-commerce sector. E-commerce involves the online buying and selling of goods and services, and wood packaging plays a significant role in this industry. Wood packaging is preferred for its cost-effectiveness, durability, and environmental friendliness, making it suitable for shipping heavy and large products. Additionally, wood packaging is space-efficient, allowing for the stacking of items during shipment and resulting in cost savings for transportation. As of September 2022, the International Trade Administration reported that consumer eCommerce accounted for 30% of the UK's overall retail sector, with an annual e-commerce revenue exceeding $120 billion. In 2021, 82% of individuals in the UK made at least one online purchase. This surge in e-commerce activities is contributing to the growth of the wood packaging market.

Technological advancement stands out as a significant trend in the wood packaging market, with major companies actively pursuing new technologies and engaging in research and development. In January 2022, Pujolasos, a Spain-based wood packaging company, introduced Woorigin, a patented mono-material innovation featuring a wooden cap without glues and plastics, boasting 100% PEFC or FSC wood certification. This groundbreaking development utilizes click technology, enhancing the overall user experience.

Strategic collaborations are a focal point for major companies in the wood packaging market, allowing them to gain a competitive edge, expand their market presence, and introduce innovative products to meet evolving customer needs. In May 2023, Blue Ocean Closures, a Sweden-based developer of bio-based, ocean-biodegradable, and recyclable packaging, partnered with Stora Enso, a Finland-based provider of renewable products, to create the 'first ever' paperboard tube with a fiber-based closure comprising more than 85% fibers. This wood fiber-based approach is expected to enable brand owners to increase the proportion of renewable materials in their packaging. The paperboard tube, applicable in various sectors such as personal care and cosmetics, represents an environmentally friendly alternative with a significant focus on sustainable practices.

In November 2023, Conner Industries, a US-based industrial wood and packaging solutions provider, acquired Denver Reel & Pallet Company, marking Conner's initial investment in the Rocky Mountain industrial packaging market. This strategic move aims to enhance Conner's integrated package footprint by incorporating foam, wood, plastic, corrugate, and adhesive tapes. Denver Reel & Pallet Company, a US-based wood packaging company specializing in custom wooden crates, pallets, and pallet collars, adds value to Conner's portfolio with its expertise in shipping, storage, and handling solutions.

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.

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. The countries covered in the wood packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of wood packaging include pallets, boxes and bins, crates and cases, spools, and dunnage. Pallets, which are platforms made of wood or metal, provide a means to store items, facilitating lifting and transfer by forklift trucks. Wood packaging materials, including hardwood, softwood, and plywood, are utilized for a variety of applications, such as storage and transportation of food and beverages, industrial purposes, shipping, and more.

The wood packaging market research report provides wood packaging market statistics, including the wood packaging industry's global market size, regional shares, competitors with a wood packaging market share, detailed wood packaging market segments, market trends and opportunities, and any further data you may need to thrive in the wood packaging industry. This wood packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wood packaging market consists of sales of wooden reels and drums. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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