Increasing shift towards adopting wood packaging over plastic packaging
Plastic packaging is growing at the fastest rate for many decades. The reason behind the insignificant growth of the market is reduced cost, easy availability, and flexibility of the packaging. However, the growing awareness among the population regarding the increasing side-effects of plastic in the environment has forced the key players to shift to sustainable and eco-friendly resources
Thus raising awareness about the negative impact of plastic usage on the environment has improved the market demand for wood packaging as wooden pallets are two times less expensive than plastic pallets on average. Stackable pallets, on the other hand, are being introduced by wooden pallet producers to help save floor space and the cost of storing and transporting items
Furthermore, wood packaging products have several advantages, including temperature tolerance, simplicity of repair, durability, cleats for greater sturdiness, reusable, eco-friendly, high friction, and customization, which act as a driver for the wood packaging market during the projection period
For instance, one million plastic bottles are sold every minute across the globe, and 12 billion tonnes of plastic waste is expected to be collected in landfills by 2050. These rising percentages of plastics have alarmed the government in various developing reasons to adopt an eco-friendly approach, thus expected to improve the business of wood packaging in the forecast period
To reduce the growth of plastic packaging in 2018, India’s Prime Minister pledged to eliminate all single-use plastic in the country by 2022, with an immediate ban in urban Delhi. Also, to support wood is good for packaging, the U.S. Forest Service, Each year, 1.7 billion trees are planted in the U.S., which is an average of 4.8 million seedlings each day to maintain the balance b/w nature and demand
Growing government investment on Eco-friendly packaging, coupled with sustainable package design
New forms of packaging and plastic derived from plants, wood chips and food waste could be a step closer to sustainable packaging following new business and government investment
Government is setting different boundaries to stop the overconsumption of packaging materials that are harmful to the environment and promoting the positive impact of eco-friendly and sustainable packaging materials, thereby creating immense opportunities for the wood packaging to improve business in the forecast period
For instance, there are various regulatory bodies such as the Forest Stewardship Council who ensure that any wood-based products (like cardboard) are made from sustainably sourced forests
Increasing demand of wood packaging from food & beverages storage industries
Wood has traditionally been used for centuries in the preparation packaging, storage and transportation of food and improving business of food industry is creating more opportunities for the packaging materials to grow in the forecast period
Food companies are majorly using wood packaging to pack, transport, handle, preserve, present and give an added value to the food products such as fruit, vegetable, fish, seafood, etc
Also wooden packages are not damaged by moisture and therefore a perfect choice when it comes to the transportation of goods which can be damaged by moisture
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