Global Pallet Market To Surpass US$ 73.94 Billion By 2025
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Increasing number of manufacturing units and the growing housing and construction sector is a major factor propelling growth of the market. Moreover, the increasing import-export activities in pharmaceuticals and food and beverage industry has fuelled demand for reliable and durable product storing materials, including pallets. Plastic pallets accounted for the fastest growing material segment, as plastic pallets are preferred for shipment of goods. This is owing to the materials’ durability, light-weight, and low-cost in terms of floor space and labor requirement. Moreover, various companies such as Amazon Inc. and Inditex S.A are investing in R&D activities such developing RFID tags for tracking pallets. Such R&D activates are expected to drive growth of the global pallet market.
North America holds the dominant position in the global pallet market in 2016, with market share of 38% and is expected to retain its dominance over the forecast period. The developed industrial sector coupled with increase in exports is the major factor driving growth of the pallet market in the region. Moreover, increasing demand for plastic pallets in food and pharmaceutical industry is further expected to fuel the market growth, owing to the food and safety compliance by the Food and Drug Administration (FDA) in the region.
Key features of the study:
This report provides in-depth analysis of pallet and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025), considering 2016 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global Pallet market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
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Key companies covered as a part of this study include Brambles Limited, LOSCAM, Rehrig Pacific Company, CABKA Group, PECO Pallet Inc, The Corrugated Pallet Company, Falkenhahn AG, Millwood Incorporation, Litco International Inc, and Schoeller Allibert
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