Global Pallet Market Highlights over 2020-2029
The global pallet market is estimated to garner a significant CAGR over the forecast period, i.e., 2021 – 2029. 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.
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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.
Global Pallet Market 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. The market in Asia Pacific region is estimated to witness noteworthy CAGR over the forecast period on the back of growing manufacturing industry in countries, such as, India, China, Vietnam, and Thailand, backed by the rapid economic development in the region. 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.
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.
The global pallet market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global pallet market includes the following segments:
By Type
- Block Pallet
- Stringer
- Double-Face
- Double- Wing
- Solid Deck
By Material
- Plastic
- Wood
- Plywood
- Cardboard
- Metal
- Others
By End-User Industry
- Chemical
- Food & Beverages
- Automobile
- Cement
- Agriculture
- Others
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
Top Featured Companies Dominating the Market
- 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
