New York, May 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pallets Market: By Product Type, By Material Type, By End-User And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031" - https://www.reportlinker.com/p06458692/?utm_source=GNW
PRODUCT OVERVIEW
Pallets are a unit load’s primary interface. They safeguard items transiting through the supply chain by protecting them from fork truck hits, absorbing tensions, holding weight, and absorbing fork truck impacts. When you consider all they are expected to perform, you can see how they have a significant impact on the outcome of a shipment. Pallets are so prevalent that they’re almost unnoticeable, but without them, global trade would be as inefficient as a car without tires. Pallets of superior quality can hold more products per shipment, reduce product loss due to damage or infestation, prevent worker harm from overloaded or imbalanced shipments, and save money on things like fuel.
MARKET HIGHLIGHTS
Global Pallets Market is projected to register a higher CAGR of 5.2% in 2031.
Global Pallets Market to surpass USD 127.4 billion by 2031 from USD 76.7 billion in 2021 at a CAGR of 5.2% in the coming years, i.e., 2021-2031. Factors include the growing use of material handling equipment across a variety of industries. Pallet manufacturing companies that cater to the market are focused on creating products that are light, robust, and efficient for end-users. Furthermore, important firms are focusing on developing new pallets with RFID chips connected for tracking and tracing.
GLOBAL PALLETS MARKET: SEGMENTS
Wood segment is expected to grow considerably over the forecast period
By material type, the global pallets market is divided into Wood, Plastic, Corrugated paper, Metal, and Others. Since wood is frequently utilized for handling and storage, it is currently the most popular pallet type. Wood pallets are more sturdy, lightweight, and cost-effective than other pallet kinds. More than half of all wood pallets are recycled, which is significantly greater than aluminum, paper, or plastic recycling rates. Furthermore, trees are rarely felled to create pallets. Pallet wood is a by-product of the timber that is used in the construction of houses and furniture.
Food & Beverage segment to grow with the highest CAGR during 2021-31
Global Pallets Market is divided into end-user categories as Food & Beverage, Chemical, Retail, Pharmaceutical, and Others. Form these, pallets are most commonly used in the food and beverage industries, owing to rising food demand due to rising population, rising consumer disposable income, and the growth of packaged food. Aside from the food and beverage business, pallets are used extensively in the chemical and pharmaceutical industries, as well as in agriculture.
MARKET DYNAMICS
Drivers
Focus on sustainable packaging and pallets is a major market driver
Use of RFID in pallet materials is benefitting for easy tracking, which drives the market
Restraint
High cost associated with the Global Pallets.
GLOBAL PALLETS MARKET:
Key Players
• Falkenhahn AG
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
• CABKA Group GmbH
• CHEP (Commonwealth Handling Equipment Pool)
• Palettes Gestion Services
• PalletOne, Inc.
• Schoeller Allibert Group B.V.
• The Corrugated Pallets Company
• ORBIS Corporation
• Craemer Holding GmbH
• Rehrig Pacific Company, Inc.
• World Steel Pallet Co.,Ltd
• Arrington Lumber & Pallet Co. Inc.
• LCN, Inc.
• Loscam Australia Pty Ltd
• Other prominent players
GLOBAL PALLETS MARKET REPORT ALSO CONTAINS AN ANALYSIS ON:
Global Pallets Market Segments:
• By Product Type
o Rackable
o Nestable
o Stackable
o Display
• By Material Type
o Wood
o Plastic
o Corrugated paper
o Metal
o Others
• By End-User
o Food & beverage
o Chemical
o Retail
o Pharmaceutical
o Others
• Global Pallets Market Dynamics
• Global Pallets Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
Read the full report: https://www.reportlinker.com/p06458692/?utm_source=GNW
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