Report Ocean presents a comprehensive research report on Pallets, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Pallets.
The global pallets market size was US$ 81.5 billion in 2021. The global pallets market is projected to grow to US$ 121.3 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the study period from 2022 to 2030.
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Pallets are a tertiary type of packaging that can be used in supply chains to store, protect, or transport items. They serve as the foundation for the unitization of commodities for warehousing and logistics. Additionally, pallets can be made from materials like wood, plastic, metal, and corrugated paper, all of which can be moved using forklifts, pallet jacks, or conveyors.
COVID-19 Impact Analysis
With the onset of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries recorded a dramatic fall-off in terms of revenue. The pandemic pushed organizations to halt manufacturing activities, which led to a loss for the market.
However, the pandemic has significantly increased the user base on e-commerce platforms, especially in developing nations like India. The growing trend of online shopping is projected to be opportunistic for the global pallets market even in the coming years.
Factors Influencing the Market
The remarkable growth of the e-commerce industry is expected to raise the growth prospects for the global pallets market during the study period. Transportation and logistics play an essential role in controlling the flow and cost of outgoing and incoming goods. As a result of the more assets for goods management, the demand for pallets for e-commerce-based logistics is forecasted to increase during the study period.
The market for pallets is anticipated to rise as a result of more attention being paid to environmentally friendly packaging and pallets. One of the main contributors to municipal solid waste is wood, which is used to make the majority of the pallets now in use (MSW).
Additionally, the fact that used wooden pallets are a rich source of energy is projected to upsurge the demand for pallets. Moreover, businesses like Australia’s Brambles, Ltd. and Germany’s CABKA Group GmbH are increasingly using recycling strategies to deduct the amount of wood wasted in the manufacturing of pallets and develop 100% recyclable or reused timber. Thus, it will present potential prospects for the pallets market. On the flip side, fluctuations in the prices of wood may limit the growth of the market during the analysis period.
Regional Analysis
North America holds the largest share in the global pallets market, owing to the rising consumer inclination towards e-commerce platforms and the strong foothold of industry giants like Rehrig Pacific Holdings, Inc. in the region.
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Competitors in the Market
Brambles Limited
Schoeller Allibert Services B.V. (Schoeller Allibert)
UFP Industries, Inc. (PalletOne)
CABKA Group GmbH (CABKA)
Rehrig Pacific Holdings, Inc. (Rehrig Pacific)
Craemer Holding GmbH (CRAEMER)
Menasha Corporation
LOSCAM International Holdings Co., Ltd. (LOSCAM)
Millwood, Inc.
Falkenhahn AG (Falkenhahn)
Other Prominent Players
Market Segmentation
The global pallets market segmentation focuses on Type, Application, Material, End-User, and Region.
By Type
Rackable
Nestable
Stackable
Display
By Application
Rental
Non-rental
By Material
Wood
Plastic via Injection Molding
Plastic via Other Methods
Corrugated Paper
Metal
By End-user
Chemical
Retail
Pharmaceutical
Others
Food and Beverage
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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