Pallets Market Projected to Witness a Double-Digit CAGR During 2025

Asia Pacific is expected to be an opportunistic market in terms of consumption in the global pallets market. Key players in the region are expanding their footprint to leverage the burgeoning food & beverage and transportation sectors in the Asia Pacific region. Europe and North America are the early adopters of pallets in the food industry. The pallets market is characterized by the presence of a large number of Europe, North America, and Asia Pacific based players. There are a limited number of manufacturers in MEA and Latin America regions.

The global pallets market has witnessed increasing adoption of plastic pallets owing to its various advantages over wood pallets. This market is expected to be characterized by new product development over the forecast period. According to the analysts of Persistence Market Research, the market for wooden pallets is highly organized owing to a large number of trivial players in wood pallet manufacturing. These interesting findings are the key highlights of a newly published report titled “Pallets Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 - 2025.”

Get a free sample request @ https://www.xploremr.com/connectus/sample/1699

Another observation elucidated in the report pertains to the key player strategy of strengthening product portfolio by launching new products with improved characteristics. Also, strategic collaborations with small players to gain regional advantage is expected to be the key trend over the projected period. Another important feature of the global pallets market is the status of the wooden pallets market. The wooden pallets market is at a saturation stage.

However, these pallets are expected to dominate the global pallets market throughout the forecast period. On the other hand, the demand for plastic pallets is increasing across various industries due to its inherent advantages. Moreover, these pallets minimize the rate of injuries as plastic pallets do not have nails and splinters.

Market participants indicate a preference for block pallets over stringer designs

According to the CEO of a North America based wood pallet manufacturing company, any global standardization of pallets is likely to support block pallets as the platform of preference. The customers involved in shipping largely prefer block pallets. North American pallet users are also increasingly moving towards block pallets.

The President of a plastic pallet manufacturing company from Europe region said that customers have been asking for plastic pallets because many new foreign import restrictions have been imposed that make the use of wooden pallets less attractive. Plastic pallets are insect-free, can be easily cleaned and are totally recyclable. The palletization boom is set to occur in Asia and according to the Operations Director of an APAC pallet pooling service provider, the China market is expected to grow at unprecedented rates over the next 10 years as the country works to improve its logistics to cater to the global industrial metamorphosis.

Market Segmentation

Material Type

Report Overview @ https://www.xploremr.com/report/1699/pallets-market

Wood
Composite Wood
Plastic
Paper
Metal
Steel
Other metals

Structural Design

Block
Stringer
Customized

End Use

Engineering Products
Pharmaceuticals
Chemicals
Textile & Handicraft
Agriculture & Allied Products
Electronics & Consumer Appliances
Transportation & Warehousing
Food & Beverage
Retail
Others

Regions

North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Research Methodology

Market sentiments analysis has been exclusively covered in this report. The analysts have discussed the way wooden pallets have gradually shifted to alternative pallets. The expert team has observed that nails remain the most major cause of injury thereby causing a shift to the alternative (preferably plastic) material as a replacement to wooden pallets. The analysts have conducted more than 50 successful primary interviews while examining this market. Apart from extensive primary research, in-depth secondary research is used to arrive at the overall market size, top industry players, top products and industry associations.

Buy Now Full Report @ https://www.xploremr.com/cart/reports/buynow/1699

About Us

XploreMR is one of the world’s leading resellers of high-quality market research reports. We feature in-depth reports from some of the world’s most reputed market research companies and international organizations. We serve across a broad spectrum – from Fortune 500 to small and medium businesses. Our clients trust us for our unwavering focus onquality and affordability. We believe high price should not be a bottleneck for organizations looking to gain access to quality information.

XploreMR
111 North Market Street, Suite 300,
San Jose, CA 95113, United States

This release was published on openPR.