Portland, OR, June 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pallets market was estimated at $66.0 billion in 2015 and is expected to hit $122.3 billion by 2030, registering a CAGR of 4.6% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Increase in focus on sustainable packaging and pallets drives the global pallets market. However, fluctuations in prices of wood, especially in Europe and North America, impede the growth to some extent. However, several growth prospects in the emerging economies have been beneficial for the industry.
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Covid-19 scenario-
- Decline in logistics and manufacturing activities across the world led to decreased demand for pallets, thus impacting the global pallets market negatively.
- However, the demand immediately experienced an incline as soon as the manufacturing units started restoring their operations.
The global pallets market is analyzed across type, application, material, end-user, and region. Based on type, the stackable segment contributed to nearly half of the total market revenue in 2015, and is projected to lead the trail by 2030. The display segment, however, would exhibit the fastest CAGR of 5.5% during the forecast period.
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Based on application, the non-rental segment contributed to 98% of the total market revenue in 2015, and is projected to lead the trail by 2030. The rental segment, on the other hand, would exhibit the fastest CAGR of 10.0% during the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2015, garnering around two-fifths of the global market. The same region would also manifest the fastest CAGR of 5.1% throughout the forecast period.
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Leading Players:
The key market players analyzed in the global pallets market report include CABKA Group GmbH (CABKA), Craemer Holding GmbH (CRAEMER), UFP Industries, Inc. (PalletOne)Falkenhahn AG (Falkenhahn), LOSCAM International Holdings Co., Ltd. (LOSCAM), Menasha Corporation, Millwood, Inc., Rehrig Pacific Holdings, Inc. (Rehrig Pacific), Brambles Limited, Schoeller Allibert Services B.V. (Schoeller Allibert). These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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