Report Details-
Middle East and Africa Palm Fiber Packaging Market, By Source (Wood, Non-Wood), Process (Thermoforming, Thick Wall, Transfer, Others), Product (Plates, Trays, Cups, Clamshell, Bowls, Others), Application (Food & Beverages, Industrial, Cosmetics, Logistics, Electrical & Electronics, Pharmaceuticals, Others), Country (South Africa, Egypt, Saudi Arabia, U.A.E, Israel, Rest of the Middle East and Africa), Industry Trends and Forecast to 2029.
Market Analysis and Insights: Middle East and Africa Palm Fiber Packaging Market
Middle East and Africa 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 4.1% in the forecast period of 2022 to 2029 and is expected to reach USD 104,609.53 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.
Significant demand from organized retail stores for innovative packing products is expected to create a new window of opportunity for the market. However, the impact on palm fiber packaging due to environmental factors may act as a major challenge for the market.
Middle East and Africa Palm Fiber Packaging Market Scope and Market Size
Middle East and Africa palm fiber packaging market is segmented on the basis of source, process, product, and application. The growth among segments helps you analyse 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 Middle East and Africa 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 the wide abundance of palm products such as palm fruits in the Middle East region. These are widely used in eco-friendly packaging.
- On the basis of process, the Middle East and Africa palm fiber packaging market is segmented into the 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 and the quality of packaging offered by using thermoformed palm fiber is boosting the segment.
- On the basis of product, the Middle East and Africa palm fiber packaging market is segmented into plates, trays, cups, clamshell, bowls, and others. In 2022, the trays segment is expected to hold a larger share in the palm fiber packaging market due trays are widely used in retail, offices, industries, and households. Proper packaging is essential as trays may be of various types such as glass, ceramic, and others which tend to get damaged on application mechanical stress.
Middle East and Africa Palm Fiber Packaging Market Country Level Analysis
Middle East and Africa palm fiber packaging market is analysed, and market size information is provided by the source, process, product and application.
The countries covered in the Middle East and Africa palm fiber packaging market report are UAE, South Africa, Saudi Arabia, Egypt, Israel, the rest of the Middle East and Africa.
UAE is expected to dominate the palm fiber packaging market owing to various factors such as rise in the e-commerce delivery services across the globe and the growing demand for cheap alternative packaging materials, which can help in minimizing carbon footprint.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of the Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
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Competitive Landscape and Palm Fiber Packaging Market Share Analysis
The Middle East and Africa palm fiber packaging market competitive landscape provide details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East and Africa presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, 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 Middle East and Africa palm fiber packaging market.
The major players covered in the report are PALM CO., Palmfil, and others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately. Many product developments are also initiated by the companies worldwide, which are also accelerating the growth of the palm fiber packaging market.
For instance,
- In August 2020, PALM CO. launched various palm-based products for packaging, such as sustainable food containers, sustainable milk boxes, and others. These products were produced using biodegradable materials, which helps to preserve the environment. Through this product launch, the company has gained global recognition
- In July 2020, PalmFil launched textile palm fiber. The key objective of this fiber launch was to strengthen its product line for the automobile industry, construction works, sports equipment, and packaging. This helped the company to expand its market by offering unique products for its consumer.
Partnership, contract, joint ventures, and other strategies enhance the company's market share with increased coverage and presence. It also provides the benefit for the organization to improve their offering for the palm fiber packaging market through an expanded range of sizes.
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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=middle-east-and-africa-palm-fibre-packaging-market
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