Plastic Pallet Market Size | Share | Global Forecast 2022

The global plastic pallet market size was valued at USD 7.9 billion in 2021 and is poised to grow at a significant CAGR of 7.3% during the forecast period 2022-28. Plastic pallets are sturdy and level platforms made of plastic that serve the purpose of packaging and conveying goods and materials. These pallets find their usage in various applications such as manufacturing and processing units, storage facilities, distribution centers, and transportation of heavy items to production sites. Although plastic pallets are more expensive than wooden pallets, they pose a lower risk of theft, which can otherwise drive up the overall material handling cost. Moreover, plastic pallets can be reused multiple times, reducing the amount of packaging waste that ends up in landfills.

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Plastic Pallet Market Growth Factors:
The plastic pallet market is poised for growth due to several factors. Firstly, the increasing need for efficient supply chain management and the demand for safe and secure transportation of goods is driving the adoption of plastic pallets. Plastic pallets offer a higher level of hygiene and are easy to clean, which is crucial in industries such as food and pharmaceuticals. Secondly, the rising awareness about environmental sustainability is driving the demand for reusable and recyclable packaging materials, which is a significant advantage of plastic pallets over their wooden counterparts. Additionally, the growing e-commerce industry and the need for safe transportation of goods over long distances is also boosting the demand for plastic pallets. Overall, the plastic pallet market offers promising growth opportunities for businesses that cater to the demand for efficient and sustainable material handling solutions.

The global plastic pallet market segmentation
1) By Material: High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Polypropylene (PP), Others
2) By Type: Nestable, Rackable, Stackable, Others
3) By End User: Food & Beverage, Chemicals, Pharmaceuticals, Petroleum & Lubricants, Others

Plastic Pallet Market Regional Analysis:
The Asia Pacific region has witnessed a surge in demand for plastic pallets, largely driven by the growth of the manufacturing sector in China and India. Additionally, the outsourcing of manufacturing operations by global players to India has further fueled the growth of the plastic pallets market in the region. On the other hand, the North American market held the second-largest share of revenue in the global plastic pallets market in 2022 and is expected to maintain this trend throughout the forecast period.

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Key players profiles in the plastic pallet market report are OMNIPAK S.R.O., Bekuplast Gmbh, CABKA Group, CHEP, Meridian Group D.O.O., ORBIS Corporation, Paxxal Inc., Plastic Pallets Manufacturers, PURUS PLASTICS GmbH, Smart Flow Europe SA, TBA Plastové Obaly S.R.O.

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