Forestry and Logging Market Driven by Growing Wooden Furniture Demand

By | July 10, 2024
Global Forestry and Logging Market

Forestry and Logging MarketAdoption of automated forestry management and increasing demand for wooden furniture is expected to drive the Global 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.

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.

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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 RegionBy 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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