Pallet Market 2022: Size, Demand, Global Industry Trends, Overview and Forecast to 2027

According to IMARC Group's latest report, titled "Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global pallet market size 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 represent horizontal platforms that support goods and assist in carrying them from one place to another using a forklift or a front loader. They are among the most common bases employed to stack products and are generally secured with a stretch wrap, collar, adhesive, or other means of stabilization. Pallets can be manufactured using various materials depending on the application, such as plastic, wood, metal, etc. As they are somewhat stronger than other containers, including moldable wrappers and cardboard boxes, workers can stack heavier objects on them without breaking them. As a result, pallets find widespread applications across several sectors, such as chemicals, pharmaceuticals, food and beverage (F&B), construction, etc. 

COVID-19 Impact:

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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Pallet Market Trends:

The escalating demand for logistics services across the globe, owing to the rising sales of smartphones, increasing internet usage, and the expanding e-commerce industry, is among the primary factors driving the pallet market. Besides this, the high consumer expenditure on housing and infrastructural activities, on account of the inflating income levels of individuals, is further augmenting the market growth. Moreover, the introduction of multiple-trip pallets, which aid in reducing cost per trip, improving operational efficiency, and eradicating solid waste, is also catalyzing the global market. Apart from this, the development of innovative techniques to produce these platforms and the rising urbanization and industrialization across countries are acting as significant growth-inducing factors. Furthermore, the growing product popularity across various sectors, owing to its reusability and recyclability, is expected to bolster the pallet market in the coming years.  

Pallet Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the pallet market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Brambles Ltd.
• Rehrig Pacific Company
• Schoeller Allibert
• CABKA Group

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Key Market Segmentation:

The report has segmented the pallet market on the basis of breakup by type, application, structural design and region.

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

Breakup by Region:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, South Africa, United Arab Emirates, Others)

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.

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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This release was published on openPR.