According to a new market report published by Lucintel, the future of the global pallet market looks promising with opportunities in pharmaceuticals, food & beverages, manufacturing, warehousing & transportation, retail, and others. The global pallet market is expected to grow with a CAGR of 6% from 2021 to 2026. The major drivers for this market are increasing consumer expenditure on housing and infrastructural activities, increasing demand for plastic pallets, and development in the logistics and transportation sector.
To download report brochure, please go to www.lucintel.com/pallet-market.aspx and click "download brochure" tab from the menu.
In this market, wood, plastics, composites wood, metal, corrugated, and others are the major material types used to manufacture pallets. On the basis of comprehensive research, Lucintel forecasts that wood will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because it is lightweight, stiff, durable, and cost effective. Also, it is more desirable in storing and transportation of materials in warehouses, as it is cheaper and abundantly available.
Within the global pallet market, the food & beverage segment is expected to witness the highest growth over the forecast period due to the increasing demand for processed food, along with increasing number of material handling activities, such as warehousing and storage in manufacturing units.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the presence of high population coupled with growth in the manufacturing sector in the region. Moreover, the increasing export of salt, matcha tea, and meat among others in the emerging countries of the region, such as India and China, is further expected to fuel demand for pallets.
Emerging trends, which have a direct impact on the dynamics of the industry, include surge in automation and digitalization of pallets, development of lightweight and efficient products, and innovation of pallets with RFID chips for tracking purposes. PECO Pallets Inc, Cabka Group GmbH, PalletOne Inc, Brambles Ltd., LOSCAM, Litco International Inc, ORBIS Corporation, Schoeller Allibert Group B.V., and Craemer Holding GmbH are among the major suppliers of the pallet market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global pallet market by material type, structural design, application, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Pallet Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global pallet market by material type, structural design, application, and region, as follows:
By Material Type [Value ($ Million) from 2015 to 2026]:
Wood
Plastics
Composites Wood
Metal
Corrugated
Others
By Structural Design [Value ($ Million) from 2015 to 2026]:
By Application [Value ($ Million) from 2015 to 2026]:
Pharmaceuticals
Food & Beverages
Manufacturing
Warehousing & Transportation
Retail
Others
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers Market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.