Posted on Oct 6 2022 8:12 AM

"Pallets Market Size, Share and Industry Analysis By Material Type (Wood, Plastic, Composite Wood, and others), By Application (Pharmaceuticals, F&B, Manufacturing, and others), and Regional Forecast, 2019-2026 "

Global “Pallets Industry Share” study 2022, the industry landscape is covered from driving factors to upstream markets and the overall state of the market. An in-depth analysis of the overall growth prospects for the global and regional market was provided which was based on an in-depth analysis of key industry players, primary and secondary data.

Market Analysis and Insights: Global Pallets Market

Due to the COVID-19 pandemic, the global Pallets Market size is estimated to be worth USD million in 2022 and is forecast to a readjusted size of USD million by 2028 with an Impressive CAGR during the review period. Fully considering the economic change by this health crisis, Small Size accounting for % of the Pallets Market in 2022, is projected to value USD million by 2028, growing at a revised magnificent CAGR in the post-COVID-19 period. While Chemical Industry segment is altered to a magnificent CAGR throughout this forecast period.

 The global pallets market size stood at US$ 59.91 Bn in 2018 is projected to reach US$ 88.69 Bn by 2026, exhibiting a CAGR of 5.1% during the forecast period (2019 – 2026)

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Pallets Market Regional Analysis:

Moreover, This report focuses on Pallets Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2029, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.

Top companies in the Global Pallets Market research report include:

• Netflix, Inc.
• Hulu, LLC
• Google LLC
• Apple, Inc.
• Facebook, Inc.
• Telstra Corporation Ltd.
• Rakuten, Inc.
• Microsoft Corporation
• Roku, Inc.
• Kakao Corp.
• Vudu, Inc.

Wood Pallets Cover the Maximum Share Owing to their Numerous Features

Among different types of pallet materials such as injection moulding pallets, corrugated paper pallets, and oxo-biodegradable pallets, wood pallets are anticipated to account for the largest share in the global market during the forecast period. These pallets are preferred over others owing to their massive benefits such as reduced startup cost and less response time in terms of customized designs. Other benefits offered by wood pallets is that they can be repairable and have high strength. On the other hand, wood pallets are not sustainable in terms of food compliance. Also, these cannot be reusable, therefore, plastic pallets are likely to gain traction in the forthcoming years. Plastic pallets are more durable and lightweight, which will augment their demand among consumers.

Market Segmentation-

COVID-19 Outbreak Impact Analysis on Pallets Market

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

The COVID-19 outbreak has spawned widespread economic distress and uncertainty, with many industries, markets, and businesses undergoing tremendous stress. However, together, the global community can tide over these challenging times and at Fortune Business Insights™, we aim to provide precise market intelligence through extensive and intensive research into the impact of this pandemic on various businesses.

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Pallets Market Historical Data:

• Industry Trends: Global Revenue, Status and Outlook.
• Market segment: by types, by applications, by regions / geography.
• Competitive landscape: for producers, development trends.
• Revenue of the product for the best players: market share, growth rate, analysis of the current market situation.
• Sales revenue: market share, growth rate, current market analysis.

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Market Registers Impressive Growth in MEA Owing to Saudi Arabia’s New Waste Management Technologies

The pallet utilization is expected to be high in Asia Pacific during the forecast years. In 2018, the market was valued at US$ 14.77 Bn and is anticipated to lead the global pallet market in the next few years. The region registers the highest adoption of plastic and wooden pallets for massive imports and exports of goods. Countries such as China and India are likely to be the most progressive markets in the forecast years.

The market in the MEA (the Middle East and Africa) generated a value of US$ 6.18 Bn in the year 2018. The market is expected to grow in this region owing to the rising adoption of plastic pallets, especially in the logistics and transportation industry. Among countries in MEA, Saudi Arabia adopted novel technologies for waste recycling management. Furthermore, the country produced around 15 million tons of municipal waste every year. It is planning to continue adopting new technologies in order to reproduce and recycle plastic products for material handling equipment and industrial handling equipment.

CHEP’s New Technologies for Developing Lightweight Plastic Pallets Garners Growth

Pallet manufacturers are paying a lot of attention to develop plastic pallets with the emergence of advanced technologies such as automation processes. Moreover, the demand for plastic pallets is increasing as these are easy to clean.

A lead analyst at Fortune Business Insights said, “As plastic pallets are environmental-friendly, new users are also expected to adopt these pallets in the forecast horizon.” He added, “Raising awareness about reducing carbon footprint is further increasing sales of plastic pallets, thus driving the pallet market.”

CHEP- A brambles company has adopted novel technologies to develop plastic pallets. The aim of the company is to offer lightweight and durable products across several industries. 

People across the world are increasingly investing in infrastructural and housing activities consequently with rising per capita income and rapid industrialization.  This, along with rapid urbanization, is driving the global market.

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