Global Pallet Market Report 2023-2028: Growing e-Commerce Industry Bolsters Sector

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May 16, 2023, 14:15 ET

DUBLIN, May 16, 2023 /PRNewswire/ -- The "Global Pallet Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

According to the report, the global pallet market attained a value of USD 93.76 billion in 2022. Aided by the expanding e-commerce sector and the growing need for efficient logistics management, the market is projected to further grow at a CAGR of 5.3% between 2023 and 2028 to reach a value of USD 127.99 billion by 2028.

The growing e-commerce industry is driving the global pallet market demand. The rapid expansion of online retail platforms has led to a significant increase in the volume of goods being shipped, necessitating the need for efficient and cost-effective logistics management solutions. Pallets play a crucial role in streamlining the shipping process, reducing product damage, and enhancing supply chain efficiency.

Additionally, the rising focus on sustainable and eco-friendly packaging solutions is another key trend propelling the growth of the global pallet market. Manufacturers are increasingly adopting pallets made from recyclable materials or biodegradable materials, such as wood and bioplastic, to minimise their carbon footprint and adhere to stringent environmental regulations.

Increasing investment in advanced material handling technologies is also expected to boost the global pallet market growth. Innovations in pallet design, such as lightweight materials, RFID tags, and IoT integration, are enhancing the efficiency and traceability of pallets in the logistics sector. These advancements are expected to further drive the adoption of pallets in various industries.

Also, manufacturers are spending money on research and development to incorporate technological advancements into pallet manufacturing. For instance, the use of multiple trip pallets has been adopted to save expenses, get rid of solid waste, and improve operating efficiency. Plastic pallets' ability to be recycled and reused has also grown incredibly popular across a variety of industries.

Market Segmentation

The market can be divided based on type, application, structural design, and region.

Market Breakup by Type

Wood
Plastic
Metal
Corrugated Paper

Market Breakup by Application

Food and Beverages
Chemicals and Pharmaceuticals
Machinery and Metal
Construction
Others

Market Breakup by Structural Design

Block
Stringer
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global pallet companies. Some of the major key players explored in the report are as follows:

Brambles Ltd
Schoeller Allibert
Loscam
ORBIS Corporation
CABKA Group
Others

Key Topics Covered:

1 Preface

2 Report Coverage - Key Segmentation and Scope

3 Report Description

4 Key Assumptions

5 Executive Summary

6 Snapshot

7 Opportunities and Challenges in the Market

8 Global Pallet Market Analysis

9 North America Pallet Market Analysis

10 Europe Pallet Market Analysis

11 Asia Pacific Pallet Market Analysis

12 Latin America Pallet Market Analysis

13 Middle East and Africa Pallet Market Analysis

14 Market Dynamics

15 Value Chain Analysis

16 Trade Data Analysis

17 Price Analysis

18 Competitive Landscape

19 Key Trends and Developments in the Market

For more information about this report visit https://www.researchandmarkets.com/r/pqgfgc

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