FutureMarket Insights’ new market research report on Wood Sheath Market includes 2014-2018 Global Industry Analysis and 2019-2029 Opportunity Assessment. The report analyzes the Wood Sheath Market and provides important insights for the forecast period 2019-2029. According to the findings of the report, the global Wood Sheath Market is expected to experience significant growth over the forecast period owing to several driving factors.
The global wood sheathing market is estimated to reach a value of approximately USD 150 million in 2019 and expand at a CAGR of approximately 5.0% during the forecast period. In the report, FMI suggests that wood sheaths are a superior alternative to plastic and steel sheaths because of their environmentally friendly and biodegradable properties. The global market for wooden sheaths is segmented on the basis of product, end use, sales channel, and region: North America, Latin America, Europe, South Asia, East Asia, MEA, Oceania, and others.
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As global sustainability drives reach new heights, many end-users, especially the food service industry, are leaning towards green solutions and biodegradable products, resulting in a surge in demand for wooden sheaths. According to FMI’s analysis, exploiting opportunities in new sectors and regions where restrictions on the use of single-use plastics are imposed will be the key to gaining a competitive advantage for market players. .
North America to stay at the forefront
According to a study by FMI, North America is expected to remain at the forefront of the global wooden sheath market over the forecast period. In North America, the wooden sheath market is expected to be driven by the increase in the number of short-lived households due to the improvement of living standards and changes in lifestyle. The rapid adoption of online food services in the region is further driving the demand for wooden sheaths. At the same time, growing demand for biodegradable cutlery and rising awareness of the negative impact of plastics will contribute to the growth of the wooden cutlery market.
There are many opportunities in East and South Asia
East Asia holds a large share of the global wooden sheath market and is expected to achieve a noticeable CAGR during the forecast period. In East Asia, China continues to be a prominent market and is projected to account for half of the revenue share during the forecast period. With low labor costs and high worker efficiency, China produces a large number of wooden knives. Chinese wooden sheaths are available at relatively low prices and are exported in large quantities to other regions.
In South Asia, India is expected to remain the main market for wooden sheaths. Online food delivery systems are growing at an alarming rate in the region with the evolution of organized food service retail chains. Growing demand for consumer convenience is driving food delivery and cutlery consumption. Awareness-raising programs by players in the wooden cutlery market, such as PappcoGreenware, about the impact of disposable plastic cutlery are increasing the trend towards biodegradable and eco-friendly cutlery in the region. Therefore, this trend is expected to support the growth of the wooden sheath market in South Asia.
Wood Sheath Market: Vendor Insights
In this report, Future Market Insights has presented several strategies adopted by the key players in the Wood Sheath Market which are currently tracked through development analysis. The key players profiled in the Wood Sheath Market report include Huhtamaki Group Oyj, Chefast Kitchen Accessories, Mede Cutlery Company, Eco-gecko Products Inc., Caoxian Luyi Wooden Product Co., Ltd., Bambu LLC, VerTerra. Included. Tableware, Leafware LLC, Biopac UK Ltd., Vegware Ltd., Bio Futura BV, Ecoware Biodegradables Inc., Ecoriti, Vrag Fils AirlaidPvt. Ltd, Natural Tableware, Packnwood (First Pack), Biotrem, Pavrex Wooden Products, Greenwood (Dalian) Industrial Co., Ltd., PappcoGreenware, etc.
For additional insights on the Wood Sheath Market, write to our analysts at press@futuremarketinsights.com .
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