Global Pallet Market to Grow at a CAGR of 5.7% During 2024-2032, Aided by Growing Demand for Sustainable Pallets

The global pallet demand is dependent on several evolving trends, environmental elements, and developments. Businesses and manufacturers are increasingly emphasising circular business models, providing opportunities for reusable resources.

The growing importance of eco-friendly manufacturing is strengthening the demand for wooden pallets, supporting the overall pallet market growth. Wooden pallets are commonly adopted across various sectors due to their durability.

According to the National Wood Pallet and Container Association, more than 1.8 billion pallets are in service in the United States per day, out of which about 93% of the pallets are made of wood. Additionally, plastic pallets are gaining popularity as they can store products without the risk of pests and insects deterring the quality.

Furthermore, the growth of the food and beverage sector is contributing to a greater adoption of pallets for storing products efficiently. Major food and beverage companies such as PepsiCo, Inc (NASDAQ: PEP) make use of plastic pallets for storing and logistics purposes at their facilities.

Pallets are considered the backbone of logistics, which is a key factor in the growth of the economy. They also play a major role in operations, planning, coordination, and smooth flow of goods and services. They are developed to fit on transportation carriers, making loading and unloading goods easier and more efficient.

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Market Analysis by Type, Application, Structural Design, and Region:

• The market, on the basis of type, can be divided into wood, plastic, metal, and corrugated paper.

• Based on application, the market can be divided into food and beverages, chemicals and pharmaceuticals, machinery and metal, and construction, among others.

• The various structural designs for pallets include block and stringer, among others.

• The major regional markets for pallets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global pallet market demand is being driven by the rising adoption of reusable pallets made of materials such as wood and plastic, amid rising concerns regarding environmental safety and sustainability.

• The rising digitisation and the robust growth of the e-commerce sector are contributing to the expansion of logistics and warehousing on a global scale. E-commerce necessitates the stockpiling of goods on pallets for the timely delivery of products to destined locations.

• The expanding food and beverage, pharmaceuticals, construction, and metals and mining sectors are contributing to the increased demand for pallets.

• The rising disposable incomes and growing population are contributing to a greater demand for electronic goods, further increasing the demand for pallets for storing the products.

Key Offerings of the Report:

• The EMR report gives an overview of the global pallet market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, structural designs, and major regions of pallets.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global pallet market are Brambles Ltd, Schoeller Allibert, Loscam, ORBIS Corporation, and CABKA Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.