Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Pallet Market size was over USD 71.98 billion in 2024 and is anticipated to cross USD 139.13 billion by 2037, growing at more than 5.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of pallet is assessed at USD 75.16 billion.
The growth of the market can be attributed to the growing demand for reliable packaging solutions amongst the end-users. Pallets are being increasingly used for bulk packaging as it keeps the products in position. Moreover, increasing international trade of various commodities, such as, dairy, cosmetics, chemicals, and electronic goods, among others, is estimated to increase the demand for safe packaging solutions, which, in turn, is estimated to boost the market growth.
Pallet Sector: Growth Drivers and Challenges
Growth Drivers
- Escalating Demand for Packaging in Chemical, Cement, and Automobile Industry
- Increasing Application of Pallets for Packaging Goods in the Growing Import and Export Industry
Challenges
- High Cost of Raw Materials, such as, Wood and Steel
- Risk of Fire and Insect Infestation in Wooden Pallets
Pallet Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.2% |
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Base Year Market Size (2024) |
USD 71.98 billion |
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Forecast Year Market Size (2037) |
USD 139.13 billion |
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Regional Scope |
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Pallet Segmentation
The market is segmented by material into plastic, wood, plywood, cardboard, metal, and others, out of which, the plastic segment is anticipated to hold the largest share in the market during the forecast period, on account of easy availability of raw materials, along with the ease in recycling the material. Additionally, wooden pallets are easily perishable in hot and humid climatic conditions, which is estimated to promote the demand for plastic pallets.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Material |
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By End-User Industry
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Customize this ReportPallet Industry - Regional Synopsis
Regionally, the global pallet market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Asia Pacific industry is expected to dominate majority revenue share by 2037, led by growing manufacturing industry in countries, such as, India, China, Vietnam, and Thailand. APAC region is the biggest exporter of various good, including smartphones and their parts, locomotives, cotton, spices, and pesticides among others, which is projected to boost the demand for packaging solutions. Moreover, growing use of pallets for storage of products, especially, fruits and vegetables, is anticipated to further drive the market growth.
North America Market Analysis
The market in North America region is estimated to hold a substantial share throughout the forecast period, owing to the increasing use of pallets in exportation of products, such as, pharmaceutical and cosmetics.
Companies Dominating the Pallet Landscape
- Totre Industries
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Palcon LLC
- Shur-way Group Inc.
- FCA, LLC
- Coxco, Inc.
- Brambles Ltd (CHEP)
- PalletOne Inc.
- Rowlinsons Packaging Ltd.
- Pilco Storage Systems Private Limited.
- CABKA Group
Author Credits: Abhishek Anil
- Report ID: 118
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
