The global pallets market was valued at $57.38 Billion in 2010, and is projected to reach $130.45 Billion by 2032, registering a CAGR of 4.1% from 2023 to 2032.
A pallet is a tertiary form of packaging used as a base for unitization of goods for application in supply chains. Pallets are generally used for stacking, storing, transporting, and protecting materials while being handled by material handling equipment, such as pallet jacks, forklifts, or conveyors. They are used in nearly all supply chains, Including end user industries such as food & beverage, chemicals, pharmaceuticals, and retail.
Moreover, pallets can be manufactured using wood, plastic, metal, and corrugated paper, Including recycled and new raw materials. According to the International Organization for Standardization, pallets are standardized in 6 sizes, Including, 1,219x1,016 mm in North America; 1,165x1,165 mm in Australia, Europe and North America; 1,000x1,200 mm in Asia and Europe; 800x1,200 mm in Europe; and 1,100x1,100 mm in Asia only.
The unprecedented development of the e-commerce industry is one of the major factors driving the demand for pallets, globally. The COVID-19 pandemic has assisted population to depend on e-commerce platforms, especially in the developing countries, Including India and Brazil. The growth in e-commerce has created challenges for supply chains to upgrade logistics and transportation services to enhance the existing devices and products, Including pallets.
Moreover, the Increase in demand for plastic pallets, owing to rise in awareness regarding benefits of plastic pallets among the consumers is driving the growth of pallets market. Plastic pallets offer better handling during transportation. In addition, they are highly recommended in food & beverage, pharmaceutical, chemicals, and other industries, where the risk of chemical contamination is significantly high. Furthermore, plastic pallets can be used in clean room applications, as they can be easily cleaned and sanitized. Such factors are driving the demand for plastic pallets in the pallets industry.
Furthermore, the surge in price of lumber, also known as timber, is a major restraint for the growth of the pallets market. Wooden pallets garner a high share in the pallets market. High prices as well as utilization of wood while maintaining environmental sustainability have hindered the growth of the pallets market. On the contrary, adoption of new technologies in the supply chain such as use of radio-frequency identification tags, automation, and robotics is expected to boost the demand for developed pallet products during the forecast period.
The pallets market is segmented into material, type, application, end-user industry, and region. By material, the market is classified into wood, plastic via injection molding, plastic via other methods, corrugated paper, and metal. On the basis of type, it is categorized into rackable, nestable, stackable, and display pallets. Depending on application, it is categorized into rental and non-rental. As per end-user industry, it is fragmented into food & beverage, chemical, retail, pharmaceutical, and others.
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, Thailand, Vietnam, Cambodia, Lao, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the global pallet market Include Brambles Limited, CABKA Group GmbH (CABKA), Craemer Holding GmbH (CRAEMER), Falkenhahn AG (Falkenhahn), LOSCAM International Holdings Co., Ltd. (LOSCAM), Menasha Corporation, Millwood, Inc., Rehrig Pacific Holdings, Inc. (Rehrig Pacific), Schoeller Allibert Services B.V. (Schoeller Allibert), and UFP Industries, Inc. (PalletOne). Major companies in the market have adopted acquisition, product launch, business expansion, and other strategies as their key developmental strategies to offer better products and services to customers in the pallets market.
A pallet is a tertiary form of packaging used as a base for unitization of goods for application in supply chains. Pallets are generally used for stacking, storing, transporting, and protecting materials while being handled by material handling equipment, such as pallet jacks, forklifts, or conveyors. They are used in nearly all supply chains, Including end user industries such as food & beverage, chemicals, pharmaceuticals, and retail.
Moreover, pallets can be manufactured using wood, plastic, metal, and corrugated paper, Including recycled and new raw materials. According to the International Organization for Standardization, pallets are standardized in 6 sizes, Including, 1,219x1,016 mm in North America; 1,165x1,165 mm in Australia, Europe and North America; 1,000x1,200 mm in Asia and Europe; 800x1,200 mm in Europe; and 1,100x1,100 mm in Asia only.
The unprecedented development of the e-commerce industry is one of the major factors driving the demand for pallets, globally. The COVID-19 pandemic has assisted population to depend on e-commerce platforms, especially in the developing countries, Including India and Brazil. The growth in e-commerce has created challenges for supply chains to upgrade logistics and transportation services to enhance the existing devices and products, Including pallets.
Moreover, the Increase in demand for plastic pallets, owing to rise in awareness regarding benefits of plastic pallets among the consumers is driving the growth of pallets market. Plastic pallets offer better handling during transportation. In addition, they are highly recommended in food & beverage, pharmaceutical, chemicals, and other industries, where the risk of chemical contamination is significantly high. Furthermore, plastic pallets can be used in clean room applications, as they can be easily cleaned and sanitized. Such factors are driving the demand for plastic pallets in the pallets industry.
Furthermore, the surge in price of lumber, also known as timber, is a major restraint for the growth of the pallets market. Wooden pallets garner a high share in the pallets market. High prices as well as utilization of wood while maintaining environmental sustainability have hindered the growth of the pallets market. On the contrary, adoption of new technologies in the supply chain such as use of radio-frequency identification tags, automation, and robotics is expected to boost the demand for developed pallet products during the forecast period.
The pallets market is segmented into material, type, application, end-user industry, and region. By material, the market is classified into wood, plastic via injection molding, plastic via other methods, corrugated paper, and metal. On the basis of type, it is categorized into rackable, nestable, stackable, and display pallets. Depending on application, it is categorized into rental and non-rental. As per end-user industry, it is fragmented into food & beverage, chemical, retail, pharmaceutical, and others.
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, Malaysia, Thailand, Vietnam, Cambodia, Lao, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the global pallet market Include Brambles Limited, CABKA Group GmbH (CABKA), Craemer Holding GmbH (CRAEMER), Falkenhahn AG (Falkenhahn), LOSCAM International Holdings Co., Ltd. (LOSCAM), Menasha Corporation, Millwood, Inc., Rehrig Pacific Holdings, Inc. (Rehrig Pacific), Schoeller Allibert Services B.V. (Schoeller Allibert), and UFP Industries, Inc. (PalletOne). Major companies in the market have adopted acquisition, product launch, business expansion, and other strategies as their key developmental strategies to offer better products and services to customers in the pallets market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pallets market analysis from 2010 to 2032 to identify the prevailing pallets market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pallets market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global pallets market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Rental
- Non-rental
By Material
- Metal
- Wood
- Plastic via Injection Molding
- Plastic via Other Methods
- Corrugated Paper
By End-User
- Food and Beverage
- Chemical
- Retail
- Pharmaceutical
- Others
By Type
- Rackable
- Nestable
- Stackable
- Display
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Malaysia
- Thailand
- Viet Nam
- Cambodia
- Lao People
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Brambles Limited
- CABKA Group GmbH (CABKA)
- Craemer Holding GmbH (CRAEMER)
- Falkenhahn AG (Falkenhahn)
- LOSCAM International Holdings Co., Ltd. (LOSCAM)
- Menasha corporation
- Millwood, Inc.
- Rehrig Pacific Holdings, Inc. (Rehrig Pacific)
- Schoeller Allibert Services B.V. (Schoeller Allibert)
- UFP Industries, Inc. (PalletOne)
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PALLETS MARKET, BY MATERIAL
CHAPTER 5: PALLETS MARKET, BY TYPE
CHAPTER 6: PALLETS MARKET, BY APPLICATION
CHAPTER 7: PALLETS MARKET, BY END-USER
CHAPTER 8: PALLETS MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Pallets Market,' The pallets market was valued at $57.4 billion in 2010, and is estimated to reach $130.5 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.A pallet is a tertiary type of packaging that serves as the foundation for unitizing products for usage in supply chains. Pallets are typically used to stack, store, transport, and protect products while they are moved by material handling equipment including conveyors, forklifts, and pallet jacks. Nearly all supply chains make use of them, including those in end-user industries including food and beverage, chemicals, medicines, and retail.
Due to the pandemic, the e-commerce sector has experienced unheard-of global growth that has given consumers and e-retailers a new sense of normalcy. Retail e-commerce generated sales of over $4.0 trillion in 2020, according to research released in December 2020 by GroupM Worldwide, Inc., a prominent media investment firm with headquarters in the UK. In addition, considering consumer trends, in 2021, the share of e-commerce in retail sales in China was 27.0%, compared to 20.0% in the UK. This has boosted the demand for new pallets as well as pallet pooling, which, in turn, drives the growth of the pallet market globally.
Furthermore, Due to the considerable participation of wooden pallets in the pallet market, the price of wood and softwood lumber has a significant impact on the growth of the pallet market. The costs of softwood timber in the United States increased by nearly 10% between September 2020 and March 2021, according to Random Lengths Publications, Inc., a U.S.-based company. Similar to this, the Australian company Brambles Ltd. announced a 10- to 20% price increase for wooden pallets. This has an impact on customer purchasing habits, which in turn limits the market expansion for pallets.
Moreover, the pallet and supply chain sectors are being completely transformed by the use of radio frequency identification (RFID) tags. Pallet handling and tracking need to be upgraded at the same time due to the growing use of automation and robotics, particularly in logistics systems. As a result, businesses have created a variety of solutions to boost the integration of cutting-edge technology into conventional pallets. For instance, the American company Pallet Alliance, Inc. launched the IntelliPallet platform, which combines Bluetooth, cellular, and LoRa WAN or long-range wide area network protocols to implement pallet tracking options. These options deliver end-to-end location, IoT connectivity, data collection & analysis, and many other features to track and improve the overall service life of pallets as well as lower the costs associated with untimely damages. These technologies are gradually becoming more widely used. However, with the reduction in prices of sensors and RFID tags, pallet users and manufacturers can largely benefit from it. Thus, the surge in adoption of new technologies is anticipated to create remunerative opportunities for the expansion of the pallets market during the forecast period.
The global pallets market is segmented into material, type, application, end-user industry, and region. By material, the market is classified into wood, plastic via injection molding, plastic via other methods, corrugated paper, and metal. Depending on type, it is categorized into rackable, nestable, stackable, and display pallets. On the basis of application, it is fragmented into rental and non-rental. As per end-user industry, it is segregated into food & beverage, chemical, retail, pharmaceutical, and others.
The major players profiled in the pallets market include Brambles Limited, CABKA Group GmbH (CABKA), Craemer Holding GmbH (CRAEMER), Falkenhahn AG (Falkenhahn), LOSCAM International Holdings Co., Ltd. (LOSCAM), Menasha Corporation, Millwood, Inc., Rehrig Pacific Holdings, Inc. (Rehrig Pacific), Schoeller Allibert Services B.V. (Schoeller Allibert), and UFP Industries, Inc. (PalletOne). The players in the market have been actively engaged in the adoption of various strategies to remain competitive and gain an advantage over the competitors in the market.
For instance, In September 2020, Menasha, through its subsidiary ORBIS Corporation, launched a new Odyssey pallet. The Odyssey rackable pallet is designed for heavy-duty racking applications and holds more than 2,800 pounds in unsupported racking. The product is available in 40 x 48 inches size and also includes optional molded-in frictional elements and steel reinforcements. Similarly, In September 2021- Menasha, through its subsidiary ORBIS Corporation, launched 44 X 56 new Universal Container Pallet (UCP) to its reusable products portfolio.
Key Market Insights
- By material, the wood segment was the highest revenue contributor to the market and is estimated to reach $110924.7 million by 2032. Moreover, the plastic via injection molding segment is estimated to be the fastest-growing segment with a CAGR of 6.5% during the forecast period.
- By type, the stackable segment dominated the global market. However, the nestable and display segment is expected to be the fastest-growing segment with a CAGR of 4.4% during the forecast period.
- By application, the non-rental segment was the highest revenue contributor to the market in 2022, and the rental segment is expected to grow with a CAGR of 8.0% during the forecast period.
- By end user, the others segment was the highest revenue contributor to the market in 2022, and the pharmaceutical segment is expected to grow with a CAGR of 5.3% during the forecast period.
- By region, Asia-Pacific held the largest revenue share in 2022 and Asia-Pacific is anticipated to grow at the highest CAGR of 4.5% during the forecast period.
Companies Mentioned
- Brambles Limited
- CABKA Group GmbH (CABKA)
- Craemer Holding GmbH (CRAEMER)
- Falkenhahn AG (Falkenhahn)
- LOSCAM International Holdings Co., Ltd. (LOSCAM)
- Menasha corporation
- Millwood, Inc.
- Rehrig Pacific Holdings, Inc. (Rehrig Pacific)
- Schoeller Allibert Services B.V. (Schoeller Allibert)
- UFP Industries, Inc. (PalletOne)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 340 |
| Published | May 2023 |
| Forecast Period | 2010 - 2032 |
| Estimated Market Value ( USD | $ 57.38 Billion |
| Forecasted Market Value ( USD | $ 130.45 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
