Pallet Pooling Market: A 6.1% CAGR Propels Market to US$ 12.9 Billion by 2032 from US$ 7.1 Billion in 2022

The pallet pooling market is projected to grow from US$ 7.1 billion in 2022 to a remarkable US$ 12.9 billion by 2032, driven by a steady 6.1% compound annual growth rate (CAGR). This expansion underscores the increasing adoption of pallet pooling as a cost-effective and efficient solution by warehouse operators worldwide.

One of the primary reasons for the soaring popularity of pallet pooling is its ability to save both time and resources. Traditional pallet management practices often require extensive efforts in repairing, maintaining, and sorting individual pallets. These tasks not only consume valuable time but also incur substantial costs for businesses. In contrast, pallet pooling streamlines this entire process.

By opting for pallet pooling, warehouse operators can benefit from a continuous supply of high-quality pallets, eliminating the need for constant repairs and maintenance. This means fewer disruptions to operations and improved efficiency, allowing businesses to focus on their core activities.

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Sales in the pallet pooling market are predicted to increase development on the back of rising demand for reducing logistic costs. Pavement management solutions carry backlinks to gather these pallets for repurposing by other manufacturers across the supply chain. The pallet interface eliminates the need for managing pallet distribution, reducing the complexity of pallet purchase, management, and retrieval.

Technological advancements are projected to create growth prospects for the pallet pooling market players. Various pallet pooling companies are focusing on introducing sophisticated pallets. For instance, they are launching pallets covered in radio frequency identification (RFID) tags. Due to numerous advantages, such as effective supply chain monitoring, this concept is rapidly gaining traction.

In the fast-moving consumer goods, food & beverage, and pharmaceutical industries, pallet pooling is very popular. Pooling pallet manufacturers continue to use wood and plastic as their principal materials. Demand for wood pallets is expected to remain high in comparison with other materials such as steel and composites.

- Key Takeaways:

By structural design, sales in the block pallet pooling segment are slated to increase at a 6.7% CAGR over the forecast period.
Based on material, the wooden pallets segment will account for 57% of the total market share over the assessment period.
In terms of end-use industry, sales in the FMCG segment will command more than 33% of the total market share in 2022.
The U.S. pallet pooling market will offer an incremental opportunity of US$ 1.3 Bn over the forecast period.
Total sales of pallet pooling services in China will reach a valuation of US$ 214.6 Bn by 2032.
Demand for pallet pooling services in Germany is poised to grow at a 3.6% CAGR over the forecast period.

- Competition Landscape:

Pallet pooling service providers are focusing on business expansion by opening new distribution centers and sales offices. Many manufacturers are creating strong networks with dealers and distributors to expand their businesses across multiple regions.

- Key Players Covered in Pallet Pooling Market:

Brambles
Euro Pool Group
Faber Halbertsma Group
LPR
Schoeller Arca Time Materials Handling Solutions Limited
Contraload NV
Zentek Pool System GmbH
PPS Midlands Limited
Demes Logistics GmbH & Co. KG

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- Key Segments Covered in Report:

Structural Design:
Block
Stringer
Customized

Materials:
Wood
Composite
Plastic
Steel
Other Metals

End-Use Industry:
FMCG Industry
Food & Beverages
Pharmaceuticals
Electronics
Chemicals
Others

Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa (MEA)

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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This release was published on openPR.