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Pallets Industry- Know the Prominent Factors That Will Help in Reshaping the Market Growth

05-02-2023 09:08 AM CET | Industry, Real Estate & Construction

Press release from: Global Insight Services

Pallets Industry- Know the Prominent Factors That Will Help

The global pallets market size was $72.8 billion in 2021 and is anticipated to reach $108.5 billion in 2031, growing at a rate of 4.1% from 2022 to 2031.

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A pallet is a tertiary form of packaging which is used for storage, stacking, transporting, or protecting products in supply chains. They can be produced by utilizing materials that include wood, plastic, and metal among others. They are available in various sizes and specifications, thus making them appropriate for use in several manufacturing industries. They are used to transport products for industries such as food, beverages, electronics & electrical, home care products, healthcare products, and others.

Read more about Pallets Market here: https://www.globalinsightservices.com/reports/pallet-market/

Global Pallets Market Trends and Drivers

The global pallets market is anticipated to observe substantial growth going forward on account of increasing application in food & beverage, healthcare, and other industries. In addition, the rise in population along with the growing disposable income of middle-class customers are projected to drive the demand for food & beverages, medical, and personal care products. This, in turn, is anticipated to lead to a consequent increase in demand for the pallets market. Moreover, governments globally are focusing on the development of the manufacturing sector in order to increase the global economy. For example, the 'Made in China 2025' initiative by the Chinese government and the 'Make in India' initiative by the Indian government have positively propelled the manufacturing sector.

The unprecedented progress of the e-commerce industry is anticipated to stimulate the demand for pallets on a noteworthy scale.

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Market Segments

By Material

Plastic
Wood
Others

By Type

Nestable
Rackable
Stackable
Display

By Application

Chemical
Retail
Pharmaceutical
Food and Beverage
Others

By Solution

New Sales
Rental

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Major Players of the Global Pallets Market

The global pallets market report includes players such as Brambles Limited, CABKA Group GmbH, Craemer Holding GmbH, Falkenhahn AG, Menasha Corporation, Millwood, Inc., Rehrig Pacific Holdings, Inc., Schoeller Allibert Services B.V., and UFP Industries, Inc. (PalletOne).

Several companies globally are trying to provide sustainable solutions to the market. For example, a supply chain management firm Yelopack offers smart logistic solutions on the basis of shared pallet and package service to industrial customers with a presence in countries such as China, South Korea, Russia, Japan, Malaysia, and Singapore. The company adopted the AFFINITY polyolefin elastomer (POE) in its current plastic pallets in 2021. The adoption of this technology which is offered by Dow permits Yelopack to intensify the lifespan of its pallets by nearly 150%, plummeting its carbon footprint.

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10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology

Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

New Report Published by Global Insight Services: https://www.globalinsightservices.com/reports/hydrogen-projects-database/

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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