Pallet Market Overview
A pallet is a flat wooden or metal platform on which items are typically placed so that a forklift truck can lift and transfer them. These pallets are often built of wood, metal, corrugated metal, or a combination of these materials. They are employed in a variety of industries, including storage and transportation, manufacturing, food and beverage, and pharmaceuticals. Packaging has become an essential component of the majority of the world's industries. The demand for packaging has grown throughout the past decade. This need has resulted in a slew of packaging technologies that have enhanced both design and functionality. A shift in the materials used for packaging has also been observed. In most industries, the transition from rigid to flexible packaging is now the standard. Wooden pallets and containers are the most common examples. Pallet Market accounted for US$ 64.34 billion in 2020 and is estimated to be US$ 109.64 billion by 2030 and is anticipated to register a CAGR of 5.50%.
Impact of Covid-19 pandemic on market
The enormous rise in the e-commerce business is likely to fuel increasing demand for pallets. The COVID-19 epidemic has increased the population's preference for e-commerce platforms, particularly in nations such as India and others where e-commerce was previously less prevalent. With the rise of e-commerce, supply chains have been forced to improve transportation and logistics to control the flow and cost of departing and incoming commodities. Online orders are typically smaller and more frequent, necessitating the use of more assets for inventory management. This generates a demand for pallets for e-commerce-based logistics, propelling the pallets industry forward.
Pallet Market Dynamics
Rise in the penetration of the internet across the globe
The rise in the penetration of the internet across the globe acts as one of the major factors driving the growth of pallet market. The increase in consumer spending on housing and infrastructure activities as a result of rising income levels, as well as the population's preference for e-commerce platforms, drive market growth. Increased investment by manufacturers in research and development (R&D) operations for implementing technological improvements in pallet production, as well as a strong focus on sustainable packaging and pallets, all have an impact on the market. Furthermore, rapid industrialization and industrialization, breakthroughs in new technologies, and the adoption of recycling techniques to reduce wood waste for pallet manufacturing create profitable opportunities for market participants during the forecast period.
Furthermore, the increased emphasis on sustainable packaging and pallets is projected to support the growth of the pallets industry. The majority of pallets in use today are made of wood, and they are one of the main contributors to municipal solid garbage (MSW). In addition, the waste wooden pallets are rich in energy, which is generally wasted during MSW disposal. As a result, industries are already implementing recycling ways to reduce wood waste in pallet manufacture. Companies such as Brambles, Ltd. in Australia and CABKA Group GmbH in Germany, for example, are working toward the creation of entirely recyclable or 100 percent reusable timber and plastic pallets.
Pallet Market Segmentation
Pallet Market report segments the market on the basis of type, material, end-user and region.
On the basis of Type, the Pallet Market is segmented into Rackable, Nestable, Stackable and Display. On the basis of Material, the target market is segmented into Wood, Plastic via Injection Molding, Plastic via Other Methods, Corrugated Paper and Metal. Based on End-User, the market is segmented into Food & Beverage, Pharmaceuticals, Chemical, Retail and Others.
Regional Insights:
On region the Pallet Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the predicted years, Asia Pacific pallet utilisation is expected to be high as Plastic and wooden pallets are widely used in the region for large-scale imports and exports of products. Japan, China, and India are likely to be the most progressive markets in the coming years.
Furthermore, the subject of sustainability has characterised the operation of the pallet sector in Asia Pacific. End-user sectors might be characterised as preferring products with longer lifespans, prompting firms in the region to innovate along these lines. Pallet producers have also been observed to form agreements in this regard.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2020 |
|
Forecast period |
2020 – 2030 |
|
Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
|
Market Segmentation |
By Type - Rackable, Nestable, Stackable and Display By Material – Wood, Plastic via Injection Molding, Plastic via Other Methods, Corrugated Paper and Metal By End-User – Food & Beverage, Pharmaceuticals, Chemical, Retail and Others |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Pallet Market report based on Type, Material, End-User and Region.
Pallet Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Pallet Market Key Players
The key players operating in the Pallet Market includes Universal Forest Products, Inc., Palcon LLC, Shur-way Group Inc., Coxco, Inc., Rowlinsons Packaging Ltd., Bay Wood Products, Inc., CHEP.
Pallet Market Key Issues Addressed
- Enviva, a global renewable energy firm specialising in sustainable wood biofuels, and Mitsui OSK Lines, a leading global marine transport group, have agreed to develop and test an eco-friendly bulk carrier in April 2021.
- Enviva, a prominent global energy company specialising in sustainable wood bioenergy, and GoChain, a blockchain company, announced the preliminary findings of a pilot programme to increase the traceability of sustainable biomass in December 2020.
Pallet Market Company Profile
- Universal Forest Products, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Palcon LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shur-way Group Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Coxco, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Rowlinsons Packaging Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Bay Wood Products, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- CHEP
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Pallet Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for pallet Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Material
- Market Snippet, By End-User
- Market Snippet, By Distribution Channel
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Rackable
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Nestable
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Stackable
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Display
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Market Segmentation, By Material, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Wood
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Plastic via Injection Molding
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Plastic via Other Methods
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Corrugated Paper
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Metal
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Market Segmentation, By End-User, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Food & Beverages
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Pharmaceuticals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Chemical
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Retail
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Universal Forest Products, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Palcon LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shur-way Group Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Coxco, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Rowlinsons Packaging Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Bay Wood Products, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- CHEP
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Pallet Market report segments the market on the basis of type, material, end user and region.
The rise in the penetration of the internet across the globe acts as one of the major factors driving the growth of pallet market.
Asia Pacific pallet utilisation is expected to be high as Plastic and wooden pallets are widely used in the region for large-scale imports and exports of products.
The key players operating in the Pallet Market includes Universal Forest Products, Inc., Palcon LLC, Shur-way Group Inc., Coxco, Inc., Rowlinsons Packaging Ltd., Bay Wood Products, Inc., CHEP.