DUBLIN, May 16, 2023 /PRNewswire/ — The “Global Pallet Market Report and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
According to the report, the global pallet market attained a value of USD 93.76 billion in 2022. Aided by the expanding e-commerce sector and the growing need for efficient logistics management, the market is projected to further grow at a CAGR of 5.3% between 2023 and 2028 to reach a value of USD 127.99 billion by 2028.
The growing e-commerce industry is driving the global pallet market demand. The rapid expansion of online retail platforms has led to a significant increase in the volume of goods being shipped, necessitating the need for efficient and cost-effective logistics management solutions. Pallets play a crucial role in streamlining the shipping process, reducing product damage, and enhancing supply chain efficiency.
Additionally, the rising focus on sustainable and eco-friendly packaging solutions is another key trend propelling the growth of the global pallet market. Manufacturers are increasingly adopting pallets made from recyclable materials or biodegradable materials, such as wood and bioplastic, to minimise their carbon footprint and adhere to stringent environmental regulations.
Increasing investment in advanced material handling technologies is also expected to boost the global pallet market growth. Innovations in pallet design, such as lightweight materials, RFID tags, and IoT integration, are enhancing the efficiency and traceability of pallets in the logistics sector. These advancements are expected to further drive the adoption of pallets in various industries.
Also, manufacturers are spending money on research and development to incorporate technological advancements into pallet manufacturing. For instance, the use of multiple trip pallets has been adopted to save expenses, get rid of solid waste, and improve operating efficiency. Plastic pallets’ ability to be recycled and reused has also grown incredibly popular across a variety of industries.
Market Segmentation
The market can be divided based on type, application, structural design, and region.
Market Breakup by Type
Wood
Plastic
Metal
Corrugated Paper
Market Breakup by Application
Food and Beverages
Chemicals and Pharmaceuticals
Machinery and Metal
Construction
Others
Market Breakup by Structural Design
Block
Stringer
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global pallet companies. Some of the major key players explored in the report are as follows:
Brambles Ltd
Schoeller Allibert
Loscam
ORBIS Corporation
CABKA Group
Others
Key Topics Covered:
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
4 Key Assumptions
5 Executive Summary
6 Snapshot
7 Opportunities and Challenges in the Market
8 Global Pallet Market Analysis
9 North America Pallet Market Analysis
10 Europe Pallet Market Analysis
11 Asia Pacific Pallet Market Analysis
12 Latin America Pallet Market Analysis
13 Middle East and Africa Pallet Market Analysis
14 Market Dynamics
15 Value Chain Analysis
16 Trade Data Analysis
17 Price Analysis
18 Competitive Landscape
19 Key Trends and Developments in the Market
For more information about this report visit https://www.researchandmarkets.com/r/pqgfgc
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SOURCE Research and Markets
