Forestry and Logging Market to Grow with a CAGR of 6.77% through 2029
Adoption of automated forestry management and
increasing demand for wooden furniture is expected to drive the Global Forestry
and Logging Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “Forestry and
Logging Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2029”, the Global Forestry and Logging Market stood at
USD 288.34 billion in 2023 and is anticipated to grow with a CAGR of 6.77% in
the forecast period, 2025-2029. Advancements in biological science and
technology have played a significant role in driving the growth of the Forestry
and Logging Market. These advancements, particularly in areas like tree
breeding, pest management, and sustainable forestry practices, have improved
the quality and productivity of forestry products. Consequently, they have
boosted efficiency across the supply chain, fueling market expansion.
Additionally, the increasing focus on renewable energy has spurred the
utilization of biomass for bioenergy production. As a result, the forestry and
logging sector is adapting to become a key supplier of raw materials for
biomass energy. The process of valorizing biomass involves extracting value
from forestry by-products, which contributes to a more comprehensive and
sustainable use of forest resources.
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In the
realm of forestry and logging, the market involves the buying and selling of
forestry goods and logs by various entities, ranging from organizations to
individual traders and partnerships. These parties are involved in activities
like cultivating timber tracts, timber operations, logging, transportation,
reforestation efforts, and the gathering of forest-derived products such as
barks, gums, and fibers.
The
growing value of this market stems from several factors, notably the increasing
construction of wooden structures, the adoption of automated forestry
management techniques, the expanding use of biomass, and the rising demand for
wooden furniture. Projected drivers for future market expansion include
advancements in biological science and technology, historically driven by a
rise in residential construction, increased demand from cruise ship
construction, a surge in tissue and paper product demand, and economic growth
in emerging markets.
Nevertheless, the expansion of the forestry and logging market faces
potential challenges, including forest fires, governmental tensions, labor
shortages, and the repercussions of the COVID-19 pandemic. These factors pose
significant risks that could hinder the market's growth prospects going forward.
The Global Forestry and Logging Market is segmented
into type, application, regional distribution, and company.
Based on its type, Timber Tract Operations is the fastest growing segment in the global
forestry and logging market for several compelling reasons. Timber tract
operations primarily focus on the sustainable harvesting of timber from
forested areas. With the rising global demand for wood products in
construction, furniture manufacturing, and paper production, there is a growing
need for timber sourcing. Timber tract operations cater to this demand by
efficiently harvesting timber from managed forests. Timber tract operations
often emphasize sustainable forestry practices, including selective harvesting,
reforestation, and ecosystem management. As environmental concerns mount and
regulations around sustainable sourcing tighten, companies are increasingly
turning to certified timber tract operations to ensure responsible forest
management and meet consumer demand for eco-friendly products.
Based on
region, the North America is the fastest growing region in the Global forestry
and logging Market. North America boasts vast expanses of forested land,
including dense coniferous forests in regions like the Pacific Northwest and
boreal forests in Canada. These abundant forest resources provide a solid
foundation for the forestry and logging industry to thrive. The forestry sector
in North America has embraced technological innovations to improve efficiency
and sustainability. Advanced machinery, such as mechanized harvesters and
forwarders, allows for more precise and productive logging operations.
Additionally, Geographic Information System (GIS) technology and remote sensing
techniques enable better forest inventory management and planning. North
America has a robust domestic market for wood products, driven by factors such
as population growth, urbanization, and construction activity. The United
States, in particular, is a major consumer of wood products for residential and
commercial construction, furniture manufacturing, and paper production. North
America is a significant exporter of wood products to global markets. Demand
for North American timber, lumber, and pulp remains strong in regions such as
Asia-Pacific, Europe, and the Middle East. Access to international trade
networks and efficient transportation infrastructure facilitates the export of
forestry products from North America to other regions.
Major companies operating in Global Forestry and
Logging Market are:
- Weyerhaeuser Company
- China Forestry Group Corporation
- Rayonier Inc
- PotlatchDeltic Corp
- Forestry Commission of New South Wales
- China Jilin Forest Industry Group Co
Ltd
- Tilhill Forestry Ltd
- CatchMark Timber Trust Inc
- Hancock Victorian Plantations Pty Ltd
- Oji Holdings Corporation
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“As the Global Forestry and Logging Market looks
toward the future, the upcoming key trends signal a shift towards a more
sustainable, technologically advanced, and transparent industry. Embracing the
trends will not only address current challenges but also position the forestry
and logging sector as a key player in the global movement towards responsible
and eco-friendly practices. Stakeholders in the industry must stay agile and
proactively engage with these trends to foster innovation and ensure a resilient
and sustainable future for the forestry and logging market,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Forestry and Logging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Logging, Timber Tract Operations, Forest Nurseries and Gathering Of Forest Products), By Application (Construction, Industrial Goods, Others), By Region, By Competition, 2019-2029F”, has evaluated
the future growth potential of Global Forestry and Logging Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Forestry and Logging Market.
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