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Pallets Market Size, Share, Competitive Landscape And Trend Analysis Report 2023-2032
(MENAFN- EIN Presswire)
Pallets Market Expected to Reach $130.5 Billion by 2032
WILMINGTON, DE, UNITED STATES, November 7, 2024 /EINPresswire / -- Pallets play a crucial role in the transportation and logistics industry, providing essential support for the systematic storage of manufactured goods in warehouses. Wooden pallets, widely used due to their affordability and easy availability, have traditionally dominated the market. However, plastic pallets are increasingly replacing wood due to their longer lifespan and lower maintenance requirements. A pallet serves as a platform for stacking loads and is typically made from plastic, wood, metal, or corrugated paper. As a tertiary form of packaging, pallets are indispensable to nearly all industrial supply chains, offering a base for stacking, storing, transporting, and protecting materials that are moved with handling equipment. Pallet sizes vary by region and country, accommodating different logistical needs.
According to Allied Market Research's report,“Pallets Market,” the global pallets market was valued at $57.4 billion in 2010 and is expected to reach $130.5 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
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The rise in wooden pallet prices poses a challenge for the industry, and materials used for pallets are often difficult to recycle, resulting in substantial waste. Recycling systems for plastic pallets are also costly to establish. In response, major players are working to reduce their carbon footprint by enhancing manufacturing processes. For instance, in March 2023, Craemer Holding GmbH expanded its plastic pallet production in the UK, which reduced lead times, shipping costs from Germany, and CO2 emissions, making their products more appealing to UK customers.
The COVID-19 pandemic disrupted manufacturing and logistics globally, impacting pallet supply chains. As restrictions ease, the industry is seeing a resurgence, and demand for pallets is increasing, particularly with the growth of e-commerce, which surged during the pandemic. This trend has created significant opportunities for pallet and logistics companies, as more businesses adopt automated supply chain systems with RFID tags, bar codes, and other technologies. For example, in September 2020, Menasha's subsidiary ORBIS Corporation launched the Odyssey rackable pallet, designed for heavy-duty applications and capable of holding over 2,800 pounds in unsupported racking. Available in a standard 40 x 48-inch size, it includes optional frictional elements and steel reinforcements, further driving market growth.
The global pallets market is segmented by material, type, application, end-user industry, and region. By material, the market includes wood, plastic (via injection molding and other methods), corrugated paper, and metal. By type, it is divided into rackable, nestable, stackable, and display pallets. Application-wise, it includes rental and non-rental. By end-user industry, the market serves food & beverage, chemical, retail, pharmaceutical, and others.
Regional Insights: The global pallets market spans North America (U.S., Canada, Mexico), Europe (Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, and others), and LAMEA (Latin America, Middle East, Africa). Asia-Pacific is expected to dominate throughout the forecast period.
Full Report With TOC:
Key Players in the Market Include:
Brambles Limited
CABKA Group GmbH (CABKA)
Craemer Holding GmbH (CRAEMER)
Falkenhahn AG
LOSCAM International Holdings Co., Ltd.
Menasha Corporation
Millwood, Inc.
Rehrig Pacific Holdings, Inc.
Schoeller Allibert Services B.V.
UFP Industries, Inc.
Key Findings from the Report:
The study provides a comprehensive analysis of current and emerging trends in the global pallets market.
By material, wood was the largest revenue generator in 2022.
The stackable pallet segment had the highest revenue by type in 2022.
The non-rental application segment led the market in 2022.
By end-user industry, the "others" segment dominated in 2022.
Asia-Pacific is anticipated to lead the global pallets market throughout the study period.
The report includes an in-depth analysis of trends and opportunities in the pallets market, with forecasts from 2023 to 2032.
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According to Allied Market Research's report,“Pallets Market,” the global pallets market was valued at $57.4 billion in 2010 and is expected to reach $130.5 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
Download PDF Sample Copy:
The rise in wooden pallet prices poses a challenge for the industry, and materials used for pallets are often difficult to recycle, resulting in substantial waste. Recycling systems for plastic pallets are also costly to establish. In response, major players are working to reduce their carbon footprint by enhancing manufacturing processes. For instance, in March 2023, Craemer Holding GmbH expanded its plastic pallet production in the UK, which reduced lead times, shipping costs from Germany, and CO2 emissions, making their products more appealing to UK customers.
The COVID-19 pandemic disrupted manufacturing and logistics globally, impacting pallet supply chains. As restrictions ease, the industry is seeing a resurgence, and demand for pallets is increasing, particularly with the growth of e-commerce, which surged during the pandemic. This trend has created significant opportunities for pallet and logistics companies, as more businesses adopt automated supply chain systems with RFID tags, bar codes, and other technologies. For example, in September 2020, Menasha's subsidiary ORBIS Corporation launched the Odyssey rackable pallet, designed for heavy-duty applications and capable of holding over 2,800 pounds in unsupported racking. Available in a standard 40 x 48-inch size, it includes optional frictional elements and steel reinforcements, further driving market growth.
The global pallets market is segmented by material, type, application, end-user industry, and region. By material, the market includes wood, plastic (via injection molding and other methods), corrugated paper, and metal. By type, it is divided into rackable, nestable, stackable, and display pallets. Application-wise, it includes rental and non-rental. By end-user industry, the market serves food & beverage, chemical, retail, pharmaceutical, and others.
Regional Insights: The global pallets market spans North America (U.S., Canada, Mexico), Europe (Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, and others), and LAMEA (Latin America, Middle East, Africa). Asia-Pacific is expected to dominate throughout the forecast period.
Full Report With TOC:
Key Players in the Market Include:
Brambles Limited
CABKA Group GmbH (CABKA)
Craemer Holding GmbH (CRAEMER)
Falkenhahn AG
LOSCAM International Holdings Co., Ltd.
Menasha Corporation
Millwood, Inc.
Rehrig Pacific Holdings, Inc.
Schoeller Allibert Services B.V.
UFP Industries, Inc.
Key Findings from the Report:
The study provides a comprehensive analysis of current and emerging trends in the global pallets market.
By material, wood was the largest revenue generator in 2022.
The stackable pallet segment had the highest revenue by type in 2022.
The non-rental application segment led the market in 2022.
By end-user industry, the "others" segment dominated in 2022.
Asia-Pacific is anticipated to lead the global pallets market throughout the study period.
The report includes an in-depth analysis of trends and opportunities in the pallets market, with forecasts from 2023 to 2032.
Construction news @vijayanalytics/posts
Construction Trending
Construction blog
David Correa
Allied Market Research
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