Pallet Market Outlook, Size, Growth, Competitive Analysis and Forecast 2022-2027

According to the latest report by IMARC Group, titled "Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global pallet market reached a value of US$ 57.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 75.9 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027. Pallets are horizontal platforms which offer a base for storing, handling, assembling and transporting products and materials. They are a type of tertiary packaging affixed with a superstructure and a bottom. Pallets are portable and easy to handle as they help in simplifying the process of loading and unloading and ensure safe delivery of the product. As a result, they are extensively used by suppliers and manufacturers of commercial goods across the globe.

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 Drivers/Constraints:

There has been a rise in the expenditure on both housing and infrastructure activities owing to a significant increase in disposable incomes and rapid urbanisation. This is one of the major factors which has been propelling the market growth.

Manufacturers have increasingly started using multiple-trip pallets instead of single-trip pallets as they offer lower cost per-trip, eliminate solid waste and enhance operational efficiency. This has, in turn, positively influenced the growth of the market.

Over the past years, there has been a significant development in the logistics and transportation sectors as well as trade volume of numerous emerging nations which have contributed towards an augmented demand for pallets across the globe.

The limited availability of pallets and increasing cost of raw materials are some of the other factors which act as major factors impeding the growth of the global pallet market.

Key Market Segmentation:

Breakup by Type:

Wood
Plastic
Metal
Corrugated Paper

Breakup by Application:

Food and Beverages
Chemicals and Pharmaceuticals
Machinery and Metal
Construction
Others

Breakup by Structural Design:

Block
Stringer
Others

Regional Insights:

North America
Asia Pacific
Europe
Middle East and Africa
Latin America

Competitive Landscape:

The market is characterised by the presence of several regional and global manufacturers who are investing in product development in order to improve their portfolio as well as increase the functionality and efficiency of the products. Some of the leading players operating in the market are:

Brambles Ltd
Rehrig Pacific Company
Schoeller Allibert
CABKA Group

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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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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.