Pallets Market Growing At A CAGR Of 4.1% And Is Projected To Reach USD.5 Billion By 2032

(MENAFN- EIN Presswire) market is poised for steady growth, driven by increasing logistics and warehousing activities, the rise of e-commerce, and advancements in automation

Through precision, innovation, and resilience, the construction and manufacturing industries build the frameworks and tools that shape our modern world” - AMRWILMINGTON, DE, UNITED STATES, February 7, 2025 /EINPresswire / -- Pallets are among the most essential equipment used in the transportation and logistics industry. They also play a crucial role in warehouses by enabling the systematic storage of manufactured products. Wooden pallets are widely utilized worldwide due to their easy availability and low cost. However, plastic pallets are increasingly replacing wooden ones due to their longer lifespan and lower maintenance costs. According to a recent report published by Allied Market Research, titled "Pallets Market," the pallets market was valued at $57.4 billion in 2010 and is projected to reach $130.5 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.

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A pallet is a platform or support structure used for stacking and transporting goods. These pallets are manufactured using materials such as plastic, wood, metal, and corrugated paper. They are considered a tertiary form of packaging and are an integral part of industrial supply chains and warehousing. Pallets are widely utilized as a base for stacking, storing, transporting, and protecting materials, which are then moved using material handling equipment. The standard sizes of pallets vary across different regions and countries.

Market Trends and Growth Factors

Key players in the market are expanding their operations to enhance production capacity and increase customer reach. For example, in July 2020, Menasha, through its subsidiary ORBIS Corporation, launched a new ORBIS RPM service center in Winston-Salem, North Carolina, U.S. ORBIS Reusable Packaging Management (RPM) specializes in cleaning, repairing, managing, and replenishing reusable layer pads, plastic pallets, and top frames. This expansion aims to improve shipping efficiency, reduce operating costs, and optimize repair processes through automation. Such initiatives are expected to contribute to the growth of the pallets market.

However, rising prices of wooden pallets pose a significant challenge to the industry. Additionally, the materials used in pallet manufacturing , particularly plastic, are difficult to recycle, leading to substantial waste generation and environmental concerns. The high costs associated with establishing recycling systems for plastic pallets further hinder market growth. To mitigate these challenges, key market players are focusing on reducing their carbon footprint by improving their manufacturing processes. For example, in March 2023, Craemer Holding GmbH expanded its plastic pallet production in the UK, significantly reducing lead times, transportation costs, and CO2 emissions, thereby making the company's operations more sustainable.

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Impact of COVID-19 and Market Recovery

The COVID-19 pandemic had a profound impact on the pallets market, as lockdown measures led to a halt in logistics and manufacturing activities worldwide. Supply chain disruptions further hindered market growth. However, as governments worldwide relaxed restrictions, businesses resumed operations, and the market began to recover.

The rapid growth of the e-commerce sector has significantly increased the demand for pallets. The shift toward online shopping, especially during the pandemic, has created lucrative opportunities for pallet manufacturers and logistics companies. The automation of supply chain and logistics systems is expected to further drive demand for pallets integrated with technologies such as radio frequency identification (RFID) tags and barcodes. In September 2020, Menasha, through its subsidiary ORBIS Corporation, introduced the Odyssey rackable pallet, designed for heavy-duty racking applications, with a load capacity exceeding 2,800 pounds in unsupported racking. Such innovations are expected to fuel market growth.

Market Segmentation

The global pallets market is segmented based on material, type, application, end-user industry, and region:

By Material: The market includes wood, plastic via injection molding, plastic via other methods, corrugated paper, and metal.

By Type: It is categorized into rackable, nestable, stackable, and display pallets.

By Application: The market is divided into rental and non-rental categories.

By End-User Industry: It includes food & beverage, chemical, retail, pharmaceutical, and others.

By Region: The market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, Thailand, Vietnam, Cambodia, Laos, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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Competitive Landscape

The major companies profiled in the pallets market report include:

Brambles Limited

CABKA Group GmbH (CABKA)

Craemer Holding GmbH (CRAEMER)

Falkenhahn AG (Falkenhahn)

LOSCAM International Holdings Co., Ltd. (LOSCAM)

Menasha Corporation

Millwood, Inc.

Rehrig Pacific Holdings, Inc. (Rehrig Pacific)

Schoeller Allibert Services B.V. (Schoeller Allibert)

UFP Industries, Inc. (PalletOne)

Key Findings of the Study

The report provides a comprehensive analysis of current and emerging trends in the global pallets market.

The wood segment accounted for the highest revenue in 2022.

The stackable pallet type generated the most revenue in 2022.

The non-rental application segment dominated the market in 2022.

The "others" segment in the end-user industry led the market in 2022.

The Asia-Pacific region is projected to dominate the global pallets market throughout the forecast period.

The study offers an extensive analysis of market trends and future opportunities.

The global pallets market forecast for 2023-2032 is included in the report.

David Correa
Allied Market Research
+ 1 800-792-5285
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