Pallets Market By Material (Wood, Plastic via Injection Molding, Plastic via Other Methods, Corrugated Paper, Metal), By Type (Rackable, Nestable, Stackable, Display), By Application (Rental, Non-rental), By End-user (Food and Beverage, Chemical, Retail, Pharmaceutical, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global pallets market was valued at $57,389.4 million in 2010, and is projected to reach $130,453.7 million by 2032, registering a CAGR of 4.1% from 2023 to 2032.
A pallet is a tertiary form of packaging used as a base for unitization of goods for application in supply chains. Pallets are generally used for stacking, storing, transporting, and protecting materials while being handled by material handling equipment, such as pallet jacks, forklifts, or conveyors. They are used in nearly all supply chains, including end user industries such as food & beverage, chemicals, pharmaceuticals, and retail.
Moreover, pallets can be manufactured using wood, plastic, metal, and corrugated paper, including recycled and new raw materials. According to the International Organization for Standardization, pallets are standardized in 6 sizes, including, 1,219x1,016 mm in North America; 1,165x1,165 mm in Australia, Europe and North America; 1,000x1,200 mm in Asia and Europe; 800x1,200 mm in Europe; and 1,100x1,100 mm in Asia only.
The unprecedented development of the e-commerce industry is one of the major factors driving the demand for pallets, globally. The COVID-19 pandemic has assisted population to depend on e-commerce platforms, especially in the developing countries, including India and Brazil. The growth in e-commerce has created challenges for supply chains to upgrade logistics and transportation services to enhance the existing devices and products, including pallets.
Moreover, the increase in demand for plastic pallets, owing to rise in awareness regarding benefits of plastic pallets among the consumers is driving the growth of pallets market. Plastic pallets offer better handling during transportation. In addition, they are highly recommended in food & beverage, pharmaceutical, chemicals, and other industries, where the risk of chemical contamination is significantly high. Furthermore, plastic pallets can be used in clean room applications, as they can be easily cleaned and sanitized. Such factors are driving the demand for plastic pallets in the pallets industry.
Furthermore, the surge in price of lumber, also known as timber, is a major restraint for the growth of the pallets market. Wooden pallets garner a high share in the pallets market. High prices as well as utilization of wood while maintaining environmental sustainability have hindered the growth of the pallets market. On the contrary, adoption of new technologies in the supply chain such as use of radio-frequency identification tags, automation, and robotics is expected to boost the demand for developed pallet products during the forecast period.
The pallets market is segmented into material, type, application, end-user industry, and region. By material, the market is classified into wood, plastic via injection molding, plastic via other methods, corrugated paper, and metal. On the basis of type, it is categorized into rackable, nestable, stackable, and display pallets. Depending on application, it is categorized into rental and non-rental. As per end-user industry, it is fragmented into food & beverage, chemical, retail, pharmaceutical, and others.
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, Thailand, Vietnam, Cambodia, Lao, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the global pallet market include Brambles Limited, CABKA Group GmbH (CABKA), Craemer Holding GmbH (CRAEMER), Falkenhahn AG (Falkenhahn), LOSCAM International Holdings Co., Ltd. (LOSCAM), Menasha Corporation, Millwood, Inc., Rehrig Pacific Holdings, Inc. (Rehrig Pacific), Schoeller Allibert Services B.V. (Schoeller Allibert), and UFP Industries, Inc. (PalletOne). Major companies in the market have adopted acquisition, product launch, business expansion, and other strategies as their key developmental strategies to offer better products and services to customers in the pallets market.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pallets market analysis from 2010 to 2032 to identify the prevailing pallets market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the pallets market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global pallets market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ApplicationRental
Non-rental
By MaterialMetal
Wood
Plastic via Injection Molding
Plastic via Other Methods
Corrugated Paper
By End-userFood and Beverage
Chemical
Retail
Pharmaceutical
Others
By TypeRackable
Nestable
Stackable
Display
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Indonesia
Malaysia
Thailand
Viet Nam
Cambodia
Lao People
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Brambles Limited
CABKA Group GmbH (CABKA)
Craemer Holding GmbH (CRAEMER)
Falkenhahn AG (Falkenhahn)
LOSCAM International Holdings Co., Ltd. (LOSCAM)
Menasha corporation
Millwood, Inc.
Rehrig Pacific Holdings, Inc. (Rehrig Pacific)
Schoeller Allibert Services B.V. (Schoeller Allibert)
UFP Industries, Inc. (PalletOne)
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