North America 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 (U.S., Canada, and Mexico), Industry Trends and Forecast to 2029.
Market Analysis and Insights: North America Palm Fiber Packaging Market
North America 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 4.9% in the forecast period of 2022 to 2029 and is expected to reach USD 198,990.22 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.
This palm fiber packaging market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
North America Palm Fiber Packaging Market Scope and Market Size
North America palm fiber packaging market is segmented based on 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 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, as non-wood are easily available, which can be molded into different shapes and size. Moreover, these by-products are biodegradable; hence it is widely adopted.
- 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, as it is easy to and production and fabrication of easy.
- On the basis of product, the Asia-Pacific 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 to growing awareness among consumers in using eco-friendly products. Trays are the most used products in the market by consumers; hence, proper packaging of these products is crucial.
- On the basis of application, the Asia-Pacific palm fiber packaging market is segmented into food & beverages, industrial, cosmetics, logistics, electrical & electronics, pharmaceuticals, others. In 2022, the food & beverages segment is expected to hold a larger share in the palm fiber packaging market owing to factors such as the growing e-commerce scenario across the globe. Eco-friendly packaging is essential as packaging industries produce a huge quantity of plastic waste.
North America Palm Fiber Packaging Market Country Level Analysis
North America palm fiber packaging market is analysed, and market size information is provided by country, source, process, product, and application.
The countries covered in the North America palm fiber packaging market report are the U.S., Canada, and Mexico.
The U.S. is expected to dominate the palm fiber packaging market due to factors such as the strong presence of providers and the growing adoption of innovations in palm fiber packaging. Moreover, increasing awareness benefits of fiber-based packaging acts as a market driver.
The country section of the report also provides individual market impacting factors and changes in market regulation 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 North American 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.
Rising Demand for Palm Fiber packaging
The North America palm fiber packaging market also provides you with detailed market analysis for every country's growth in the industry with sales, components sales, the impact of technological development in palm fiber packaging, and changes in regulatory scenarios with their support for the market. The data is available for the historical period 2011 to 2019.
Competitive Landscape and North America Palm Fiber Packaging Market Share Analysis
The North America palm fiber packaging market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America 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 are only related to the companies' focus on the North America palm fiber packaging market.
Some of the major players covered in the North America palm fiber packaging market are ADVANCED PAPER FORMING, Atlantic Pulp, CKF Inc., among 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 North America palm fiber packaging market.
For instances,
- In October 2021, CKF Inc. announced its investment in recyclable and renewable packaging solutions. The key objective of this solution was to reduce the wastage and environmental damages caused by non-renewable packaging products. Through this investment, the company is focusing on sustainable development methods to grow its market
- In July 2017, ADVANCED PAPER FORMING launched end caps for the scanner. The objective of this product launch was to protect the scanner from external mechanical influence. This product was made up of biodegradable fiber material. This helped the company to offer quality products to its consumer.
Partnership, joint ventures, and other strategies enhance the company's market share with increased coverage and presence. It also benefits the organization to improve its offering for palm fiber packaging through an expanded range of sizes.
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