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Global Palm Fiber Packaging Market - Industry Trends and Forecast to 2030

  • Materials & Packaging
  • Upcoming Report
  • Oct 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Palm Fiber Packaging Market - Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 5.1% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 592815.79 Thousand
Diagram Market Size (Forecast Year) USD 898791.57 Thousand
Diagram CAGR 5.1%

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 and Beverages, Industrial, Cosmetics, Logistics, Electrical and Electronics, Pharmaceuticals and Others) - Industry Trends and Forecast to 2030.

Global Palm Fiber Packaging Market

Palm Fiber Packaging Market Analysis and Size

The global palm fiber packaging market is thriving due to a surge in sustainability-driven demands for eco-friendly packaging solutions. Palm fiber, being renewable and biodegradable, aligns with these preferences, finding versatile applications across industries. Stringent environmental regulations further bolster its adoption, while ongoing research and development efforts aim to enhance its quality and performance. Challenges include cost competitiveness and scalability, but overall, the market is marked by strong growth. 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.

Data Bridge Market Research analyses that the global palm fiber packaging market which was USD  5,92,815.79 thousand in 2022, is expected to reach USD 8,98,791.57 thousand by 2030, and is expected to undergo a CAGR of 5.1% during the forecast period of 2023 to 2030.

“Food and Beverages” dominates the application segment of the global palm fiber packaging market due to the versatility and eco-friendliness of palm fiber packaging. Consumers are increasingly choosing sustainable packaging options, and palm fiber plates, trays, and cups meet these demands. Moreover, the food industry's large-scale requirements drive demand for these products. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Palm Fiber Packaging Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Thousands, Volumes in Kilo Tons, Pricing in USD

Segments Covered

Source (Wood and Non-Wood), Process (Thermoforming, Thick Wall, Transfer and Others), Product (Plates, Trays, Cups, Clamshell, Bowls, and Others), Application (Food and Beverages, Industrial, Cosmetics, Logistics, Electrical and Electronics, Pharmaceuticals and Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa

Market Players Covered

Heng Huat Resources Group Berhad (Malaysia), CKF Inc. (Canada), Global Green Synergy Sdn. Bhd. (Malaysia), Nextgreen Global Berhad (Malaysia), PALM CO. (Japan), PalmFil (Malaysia), ADVANCED PAPER FORMING (U.S.), buhl-paperform GmbH (Germany), Dentas (Turkey), and  Atlantic Pulp (Canada)

Market Opportunities

  • Sustainability and eco-friendly packaging
  • Growing demand in food and beverage industries
  • Regional availability and cost-effectiveness

Market Definition

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.

Global Palm Fiber Packaging Market Dynamics

Drivers

  • Sustainability and Eco-Friendly Packaging

The increasing global focus on sustainability and eco-friendly packaging is a significant driver for the global palm fiber packaging market. Palm fiber is renewable, biodegradable, and sourced from a byproduct of the palm oil industry, making it an attractive choice for environmentally conscious consumers and businesses. This trend is driven by growing environmental concerns, stringent regulations, and a shift toward greener alternatives to traditional packaging materials.

  • Growing Demand in Food and Beverage Industries

The food and beverage industry's robust growth is a driving force. Palm fiber packaging, with the versatility and suitability for various product types, including plates, trays, cups, and clamshells, caters to the packaging needs of this industry. As consumers seek sustainable packaging for food products, palm fiber offers an eco-friendly solution.

  • Regional Availability and Cost-Effectiveness

Regions such as Asia-Pacific, where palm oil production is prominent, have a ready supply of palm fiber. This abundance makes palm fiber a cost-effective packaging material, driving its adoption in local and international markets.

Opportunities

  • Expansion in the Export Market

An opportunity lies in expanding export markets. Manufacturers in palm-rich regions can tap into the global demand for sustainable packaging solutions, exporting palm fiber-based products to regions where environmental consciousness is on the rise, offering growth potential for the industry.

Restraints/Challenges

  • Supply Chain Challenges

The global palm fiber packaging market may face challenges related to the consistent supply of palm fiber. Factors such as weather conditions affecting palm oil production and transportation logistics can disrupt the supply chain, impacting production and delivery timelines.

  • Cost Effectiveness and Competitiveness

While palm fiber is cost-effective in regions with abundant palm resources, it may face price competitiveness challenges in regions with access to alternative packaging materials. Higher costs in importing regions can limit the adoption of palm fiber packaging, affecting market growth.

  • Quality and Performance Standards

Maintaining consistent quality and performance standards can be challenging, especially when dealing with natural fibers such as palm. Ensuring that palm fiber packaging meets durability, safety, and aesthetic requirements is crucial to gaining consumer trust and market acceptance.

  • Alternative Materials Competition

Palm fiber packaging faces competition from alternative sustainable packaging materials such as paper-based or bioplastic solutions. The market must address the challenge of distinguishing palm fiber's unique advantages and ensuring its continued relevance in a crowded marketplace.

This global palm fiber packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global palm fiber packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • 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.

Global Palm Fiber Packaging Market Scope

The global palm fiber packaging market is segmented on the basis of source, process, product and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

  • Wood
  • Non-Wood

Process

  • Thermoforming
  • Thick Wall
  • Transfer
  • Others

Product

  • Plates
  • Trays
  • Cups
  • Clamshell
  • Bowls
  • Others

Application

  • Food and Beverages
  • Industrial
  • Cosmetics
  • Logistics
  • Electrical and Electronics
  • Pharmaceuticals
  • Others

Global Palm Fiber Packaging Market Regional Analysis/Insights

The global palm fiber packaging market is analysed and market size insights and trends are provided by country, source, process, product and application are referenced above.

The countries covered in the global palm fiber packaging market report are U.S., Canada, and Mexico, Brazil, Argentina, and the rest of South America in South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and the rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific in Asia-Pacific, and U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and the Rest of the Middle East and Africa in Middle East and Africa

Asia-Pacific dominates the global palm fiber packaging market due to abundant palm resources, environmental awareness, expanding industries, government support, and innovation in sustainable packaging solutions.

Also, Asia-Pacific is expected to witness the fastest growth in the global palm fiber packaging market during the forecast period of 2023 to 2030, due to abundant palm resources, environmental awareness, growing industries, and government initiatives in the region.

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 like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Palm Fiber Packaging Market Share Analysis

The global palm fiber packaging market competitive landscape provides details by competitors. 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, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global palm fiber packaging market.

Some of the major players operating in the global palm fiber packaging market are:

  • Heng Huat Resources Group Berhad (Malaysia)
  • CKF Inc. (Canada)
  • Global Green Synergy Sdn. Bhd. (Malaysia)
  • Nextgreen Global Berhad (Malaysia)
  • PALM CO. (Japan)
  • PalmFil (Malaysia)
  • ADVANCED PAPER FORMING (U.S.)
  • buhl-paperform GmbH (Germany)
  • Dentas (Turkey)
  • Atlantic Pulp (Canada)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The palm fiber packaging market size will be worth USD 8,98,791.57 thousand by 2030.
The growth rate of the palm fiber packaging market is 5.1% in the forecast period by 2030.
Sustainability and eco-friendly packaging, growing demand in food and beverage industries & regional availability, and cost-effectiveness are the growth drivers of the palm fiber packaging market.
Source, process, product and application are the factors on which the palm fiber packaging market research is based.
Major companies in the palm fiber packaging market are Heng Huat Resources Group Berhad (Malaysia), CKF Inc. (Canada), Global Green Synergy Sdn. Bhd. (Malaysia), Nextgreen Global Berhad (Malaysia), PALM CO. (Japan), PalmFil (Malaysia), ADVANCED PAPER FORMING (U.S.), buhl-paperform GmbH (Germany), Dentas (Turkey), and Atlantic Pulp (Canada)
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