Report Details-
Global Palm Fiber Packaging Market, By Source (Wood and Non-Wood), Process (Thermoforming, Thick Wall, Transfer and Others), Product (Plates, Trays, Cups, Clamshell, Bowls and Others), Application (Food & Beverages, Industrial, Cosmetics, Logistics, Electrical & Electronics, Pharmaceuticals and Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa), Industry Trends and Forecast To 2029.
Market Analysis and Insights: Global Palm Fiber Packaging Market
The palm fiber packaging market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.1% in the forecast period of 2022 to 2029 and is expected to reach USD 855,177.52 thousand by 2029.
Palm fiber is a biodegradable fiber that is obtained from palm tree products such as leaves, fruits. Palm fiber has gained immense popularity in the packaging sector, as these by-products are eco-friendly and have the potential to replace plastic usage in the packaging industry. Palm fibers are extracted using two methods; one of the methods of extracting is via palm fruits. Palm oils are extracted using fruits, and the waste generated after oil extraction can be used for palm fiber. Another method of extraction is via chemical processes where palm leaf sheath is used to extract fiber by treating chemical degumming process at 100°C for 2 hours and 30 min. Palm fiber has various benefits, such as it is inexpensive, naturally available, and have less carbon footprint than others.
Some of the factors which are expected to drive the market is increasing preference for eco-friendly and biodegradable products for packaging and rise in the e-commerce delivery services across the globe. On the other hand, threats from stringent regulations and norms imposed by the government may be a restraining factor for the market's growth.
Global Palm Fiber Packaging Market Scope and Market Size
The palm fiber packaging market is segmented on the basis of source, process, product and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of source, the Asia-Pacific palm fiber packaging market is segmented into wood and non-wood. In 2022, the non-wood segment is expected to hold a larger share in the palm fiber packaging market due to factors such as growing demand for bio-degradable packaging in FMCG globally, leading to a huge demand for packaging products and disposable containers such as those made from palm leaf. Moreover, disposable containers made out of palm fibers have good strength and do not break or leak, which is expected to act as a major factor for the segment growth.
- On the basis of process, the Asia-Pacific palm fiber packaging market is segmented into thermoforming, thick wall, transfer, others. In 2022, the thermoforming segment is expected to hold a larger share in the palm fiber packaging market. Factors such as growing demand for bio-degradable thermoformed palm fiber among consumers are expected to boost the segment growth. Thermoformed palm fiber food packaging products such as food trays, plates, cups, and others are widely used, which is expected to act as a major driver for the segment growth.
Global Palm Fiber Packaging Market Country Level Analysis
The palm fiber packaging market is segmented on the basis of source, process, product and application.
The countries covered in the global palm fiber packaging market report are the U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, the Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and rest of the Middle East and Africa. In 2022, the Asia-Pacific region is expected to hold the largest market share of 42.00% as countries such as Malaysia, Indonesia and others have huge production of palm fiber.
Malaysia is expected to account for the maximum share in the palm fiber packaging market as it is the highest exporting country for palm fiber. The U.S. is expected to dominate the palm fiber packaging market due to the presence of a large number of local players. Germany is expected to witness high growth due to a large number of adoption of palm fiber packaging in the region.
Rising Demand for Palm Fiber Packaging
The global palm fiber packaging market also provides you with a detailed market analysis for every country's growth in the installed base of different kinds of products, the impact of technology using lifeline curves, and changed regulatory scenarios and their impact on the palm fiber packaging market. The data is available for the historic year 2011 to 2020.
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Competitive Landscape and Palm Fiber Packaging Market Share Analysis
Palm Fiber packaging market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the palm fiber packaging market.
Some of the major players operating in the palm fiber packaging market are Heng Huat Resources Group Berhad, CKF Inc., Global Green Synergy Sdn. Bhd., Nextgreen Global Berhad, PALM CO., PalmFil, ADVANCED PAPER FORMING, buhl-paperform GmbH, Dentaş, Atlantic Pulp, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In October 2021, Heng Huat Resources Group Berhad acquired MG Furniture Sdn Bhd. The key feature of this acquisition was to strengthen the company's palm fiber production capabilities. This acquisition will help the company to expand its regional market
- In January 2020, Nextgreen Global Berhad entered into a partnership with IHI Corp and Nomura Holdings Inc. the key feature of this partnership was to develop green tech products. This also includes innovative packaging solutions. This helped the company to expand its market
Partnership, joint ventures, and other strategies enhance the company's market share with increased coverage and presence. It also provides the benefit for an organization to improve their offering for the palm fiber packaging market through an expanded product range.
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Major TOC of the Report
· INTRODUCTION
· MARKET SEGMENTATION
· MARKET OVERVIEW
· EXECUTIVE SUMMARY
Get TOC of the Report:- https://www.databridgemarketresearch.com/toc/?dbmr=global-palm-fibre-packaging-market
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