With many countries in Asia-Pacific still being largely rural, the economic growth is set to foster the ongoing urbanization. The growth in population in these countries is expected to boost the demand for housing and commercial infrastructure. According to Asian Development Bank, Asia-Pacific is estimated to invest $8–$9 trillion in infrastructure development from 2010 to 2020 to maintain its economy, which drives the market in the building & construction sector. In addition, according to the Global Construction Perspectives and Oxford Economics, 60% of the global construction activity is anticipated to be undertaken in emerging markets by 2025. The growth in infrastructure spending across Asian countries and rise in demand for sustainable packaging materials used in construction and manufacturing sectors are expected to boost the revenue growth of the corrugated pallets market during the forecast period.
China is expected to account for 36% of all growth in construction with India being approximately $1 trillion construction market by 2025. New housing projects in emerging economies are expected to provide new opportunities for construction globally, with around 270 million new homes needed in China and India alone by 2025 to meet the needs of growing population growth and urbanization trends. Industrial packaging protects the construction equipment and materials from shock & vibration, atmospheric, magnetic, and electrostatic forces during storage or transit. Thus, rise in construction activities such as housings, commercial, and infrastructural projects in emerging economies is anticipated to boost the demand for corrugated pallets which are used in packaging of construction equipment.
The overall growth of the food & beverage industry is being driven by emerging markets such as China, India Argentina, and Brazil as the economies of these nations improve. Furthermore, rapid increase in population and rise in living standard has led to the growth of food & beverages industry across the globe; thereby, boosting the demand of industrial packaging to distribute food across countries. Moreover, according to the Food and Agriculture Organization of the United Nations, roughly one-third of food produced for human consumption is wasted globally during shipping and handling, which leads to shortage of food. Thus, to avoid wastage and to meet the food demand of growing population, industrial packaging plays a crucial role.
The corrugated pallets market is segmented on the basis of product type, end user, and region. Based on the product type, the corrugated pallets market is categorized into < 3 walls, 3-5 Walls, and 5+ Walls. Based on end user, it is segmented into food and beverages, chemical and pharma, agriculture, metal & machinery, wholesalers, and others
Geographically, the global corrugated pallets market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa).
The key players profiled in this report include DS Smith, Smurfit Kappa, KraftPal Technologies, The Corrugated Pallets Company, Kamps Pallets, Milwood, PGS Group, Conitex Sonoco, Spanco Enterprises, and Brambles Limited.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global dishwasher tablets market, with current and future trends to elucidate the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2018 to 2026 is provided to showcase the financial competency of the market.
- The report tracks the penetration of dishwasher tablets in overall dishwasher detergent market under parent market analysis section of the report. This section also illustrate the coverage of the study along with its inclusions and exclusions.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights the business practices followed by the leading market players across various regions.
Key Market Segments
The global corrugated pallets market is segmented into:
By Product Type
- < 3 walls
- 3-5 Walls
- 5+ Walls
By End User
- Food & Beverages
- Chemical & Pharma
- Agriculture
- Metal & Machinery
- Wholesalers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- LAMEA
- Middle East
- Latin America
- Africa
Key Players in Value Chain
- DS Smith
- Smurfit Kappa
- KraftPal Technologies
- The Corrugated Pallets Company
- Kamps Pallets
- Milwood
- PGS Group
- Conitex Sonoco
- Spanco Enterprises
- Brambles Limited
Table of Contents
Executive Summary
According to the report titled 'Global Corrugated Pallets Market by Product Type and End User: Opportunity Analysis and Industry Forecast, 2019-2026', the global corrugated pallets market size was valued at $1,062.0 Mn in 2018 and is anticipated to reach $1,481.9 Mn by 2026, with a CAGR of 4.4% during the forecast period. The corrugated pallets market exhibit incremental revenue opportunity of $419.9 million from 2018 to 2026.The global corrugated pallets market is expected to witness rapid growth in terms of revenue over the next 10 year. The rapid growth in revenue of corrugated pallets is mainly attributed to its advancement in engineering and use in building more strong packaging alternative. Major end users such as food & beverages processing companies and chemical & pharma companies are actively investing in more advanced and sustainable packaging solutions. The growth in export-oriented market for these stakeholders and increased expenditure on product distribution have created a need for more cost-effective and light-weight packaging solutions. The corrugated packaging materials offer these benefits to end users and are much lighter than their alternative (wood, polymer, and metal). In addition, the corrugated pallets are OSHA compliant due to their light weight and also do not require nails, staples, and splinter for assembly.
The corrugated pallets are made of double or 5+ walls corrugated boards. Light weight nature of corrugated pallets helps retailer to minimize the shipping cost especially in airfreights. The diversified presence of end user of corrugated pallets had initiated a need to product differentiation. The corrugated pallets faces major downside in terms of adoption as they degrade with contact to moisture. This makes them unsuitable for use in various transportation methods.
The corrugated pallets market is segmented on the basis of product type, end user, and region. Based on the product type, the corrugated pallets market is categorized into < 3 walls, 3-5 Walls, and 5+ Walls. The < 3 walls pallet segment was valued at $425.7 million in 2019, and is expected to grow with a CAGR of 4.5% to reach $579.2 Mn by 2026 in overall corrugated pallets market share. The 5+ walls pallet segment would be the fastest growing segment with a CAGR of 4.1% during the forecast period.
Based on end user, the corrugated pallets market is segmented into food & beverages, chemical & pharma, agriculture, metal & machinery, wholesalers, and others. The food & beverages end user segment domain corrugated pallets market share and was valued at $229.1 Mn in 2019 and is expected to grow with a CAGR of 2.5% (2019-2026) to reach $272.9 Mn by 2026. The wholesaler end user segment is expected to be the fastest growing segment with a CAGR of 6.1% during the forecast period. Elimination of heat treatment unlike other material make corrugated pallets compliant to ISPM-15. Hence, these pallets are gaining popularity among food & beverages and chemical & pharmaceutical end users.
Geographically, the global market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa). Countries such as China and India would emerge as one of the leading consumers for corrugated pallets, owing to an increased penetration of e-commerce retailing that requires light weight and cost-effective packaging materials.
Key Findings of the Corrugated Pallets Market:
The < 3 wall corrugated pallets products segment is expected to grow at a CAGR of 4.5% during the forecast period.
North America is anticipated to dominate the corrugated pallets market growth, registering a CAGR of 4.2% during the forecast period.
Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest CAGR of 5.3%.
The food & beverages end user segment is anticipated to dominate the global corrugated pallets market analysis, with a CAGR of 2.5% during the forecast period.
The wholesaler end user segment is estimated to grow at a CAGR of 6.1% during the corrugated pallets market forecast.
The key players operating in corrugated pallets industry include DS Smith, Smurfit Kappa, KraftPal Technologies, The Corrugated Pallets Company, Kamps Pallets, Milwood, PGS Group, Conitex Sonoco, Spanco Enterprises, and Brambles Limited.
Companies Mentioned
- DS Smith
- Smurfit Kappa
- KraftPal Technologies
- The Corrugated Pallets Company
- Kamps Pallets
- Milwood
- PGS Group
- Conitex Sonoco
- Spanco Enterprises
- Brambles Limited.
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.
LOADING...