Pallets Market Market Size, Share, Global Industry Analysis, and Forecast 2021 to 2028

The pallets market size is predicted to be worth around $110 billion in 2028, from $79 billion in 2020, growing at a CAGR of 5.2% from 2021 to 2028. Pallets are a tertiary form of packaging that can be used for stacking, storage, protecting, or transporting of goods in supply chains. It is utilized as a base for unitization of goods for logistics and warehousing.

Moreover, pallets can be manufactured using materials such as wood, plastic, metal, and corrugated paper, which can be handled using material handling equipment such as forklifts, pallet jacks, or conveyors. Pallets find applications in nearly all supply chains including industries such as chemicals, food & beverage, retail, and others.

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The unprecedented growth in e-commerce industry is expected to drive the demand for pallets on a significant scale. The COVID-19 pandemic has enhanced the inclination of population towards e-commerce platforms, especially in countries such as India and others, where e-commerce had lesser prevalence. The rise in e-commerce has challenged supply chains to develop transportation and logistics to control flow and cost of outgoing and incoming goods. Online orders are generally in smaller quantities and more frequent, thus, requiring more assets for goods management. This creates a demand for pallets for e-commerce-based logistics, which in turn drives the pallets market growth.

Moreover, the rise in focus toward sustainable packaging and pallets is also expected to drive the growth of the pallets market. Majority of the pallets in use today are produced with wood and is one of the largest contributors in municipal solid waste (MSW). In addition, the waste wooden pallets are rich in energy, which is generally wasted during MSW disposal. Thus, companies are now adopting recycling techniques to reduce the wastage of wood for pallet manufacturing. For instance, companies such as Brambles, Ltd., based in Australia, and CABKA Group GmbH based in Germany, are striving toward production of fully recyclable or 100% reusable wooden and plastic pallets.

However, the fluctuations in prices of wood, especially in Europe and North America, limits the growth of the pallets market. Europe and North America are the largest consumers of wooden pallets collectively, hence, the price changes in lumber affects the consumer patterns in the pallets industry. In addition, the outbreak of the COVID-19 pandemic has negatively affected the international trade and manufacturing supply chains. This affected the demand for pallets during 2020.

On the contrary, the adoption of new technologies in supply chains such as use of internet of things (IoT), automation, collaborative robots (cobots), and others, can promote pallet manufacturers to produce pallets with RFID tags, GPS sensors, and others, which can create a demand for pallets in the near future.

The global pallets market is segmented on the basis of type, material, end-user industry, and region. By type, it is categorized into rackable, nestable, stackable, and display pallets. By material, it is classified into wood, plastic via injection molding, plastic via other methods, corrugated paper, and metal. By end-user industry, it is categorized into food & beverage, chemical, retail, pharmaceutical, and others.

By region, the global pallets market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest pallets market share throughout the study period; however, LAMEA is expected to grow at the fastest rate.

Key Players

The key market players profiled in the report include Brambles Limited, CABKA Group GmbH, Craemer Holding GmbH, Falkenhahn AG, LOSCAM International Holdings Co., Ltd., Millwood, Inc., Menasha Corporation, PalletOne Inc., Rehrig Pacific Holdings, Inc., and Schoeller Allibert Services B.V.

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Global Pallets Market Segments

BY TYPE

• Rackable
• Nestable
• Stackable
• Display

By Material

• Wood
• Plastic via injection molding
• Plastic via other methods
• Corrugated paper
• Metal

By End-user Industry

• Food & beverage
• Chemical
• Retail
• Pharmaceutical
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe

• Asia-Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Rest of Asia-Pacific

• LAMEA
  • Latin America
  • Middle East
  • Africa

Report Scope

The Pallets market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Pallets market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Pallets market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pallets market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pallets market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Pallets capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Pallets by regions (countries) and application.

In this study, the years considered to estimate the market size of Pallets are as follows:

History Year: 2017-2020

Base Year: 2020

Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Table of Contents

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics

5.1.1. Market Drivers

5.1.2. Market Restraints

5.1.3. Market Opportunities

5.2. Porter’s Five Forces Analysis

5.2.1. Bargaining power of suppliers

5.2.2. Bargaining power of buyers

5.2.3. Threat of substitute

5.2.4. Threat of new entrants

5.2.5. Degree of competition........................... Read Full Report TOC

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