According to IMARC Group’s latest report, titled “Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 57.6 Billion in 2021. Looking forward, IMARC Group expects the pallet market to reach US$ 75.9 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.
Pallets are portable, horizontal logistics platform that assists in supporting various consumer goods by transporting them through conveyer forklift or front loader. It can be manufactured from wood, plastic, corrugated paper, and metal materials based on the application. Pallet aids in ensuring smooth transportation of products, protecting commodities by eliminating knocks and bumps, and stacking heavier objects. Apart from this, pallet exhibits optimal strength, due to which it is extensively used in storing, handling, and assembling goods in warehouses.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Pallet Market Trends and Drivers:
One of the key factors driving the pallet market growth is the increasing need for lightweight and efficient material handling equipment for optimizing logistic operations across various industrial verticals. In line with this, significant technological advancements, such as the integration of radio frequency identification (RFID) chips for tracking and tracing goods in real-time, are propelling the market growth. Moreover, the rising environmental concerns have prompted key players to utilize waste wood over plastic to manufacture pallets, which in turn, is impelling the market growth. Apart from this, significant expansion in the manufacturing and e-commerce sectors and growing standards of transportation operations are creating a positive outlook for the market.
Pallet Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
- Brambles Ltd.
- Rehrig Pacific Company
- Schoeller Allibert
- CABKA Group
Key Market Segmentation:
The report has segmented the global pallet market on the basis of type, application, structural design and region.
Breakup by Type:
- Corrugated Paper
Breakup by Application:
- Food and Beverages
- Chemicals and Pharmaceuticals
- Machinery and Metal
Breakup by Structural Design:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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