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Pallet market to grow at a compound annual growth rate (CAGR) of 5.24% during 2015-2021, backed-up strongly by spiked manufacturing activity

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Research Nester has recently announced its latest research on “Pallet Market : Global Demand Analysis & Opportunity Outlook 2023”, after studying the market situation and anticipating the future trends, the research provides a concrete platform for the existing and new players looking to enter into the market. The study provides information about market scenario of forecast period by analyzing the current situation

Pallet is flat base structure used for goods stacked atop it for transport and shipping purpose. Pallet facilitates the transportation of goods and containers in a stable manner by providing support while moving the goods from one place to another and can be elevated by forklifts, jacking devices pallet jacks and front loaders.

Increased consumerism on the back of expanded personal disposable income across the globe has allowed the Indian pallet market to reach new heights. Global pallet market is anticipated to grow at a compound annual growth rate (CAGR) of 5.24% over the period 2015-2021.

Indian packaging industry is anticipated to reach USD 29.33 Billion in the year 2021 end. Growing in the packaging industry is likely to escalate the demand of pallets used in this industry over the period of 2015-2021.

Indian industrial production was increased by 4% from 2014 to 2015. Rising industrial production will shoot up the demand for India pallet market in the forecasted period.

Increased demand from the user industry, up-surged economic activity, positive business sentiments and rising investment in the manufacturing and infrastructure facilities are the major growth drivers for India pallet market in the upcoming years.

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