Report: Global pallet market set to reach $76 billion by 2025

Persistence Market Research's report, titled "Global Market Study on Pallets: Plastic Material Type Segment Projected to Register the Highest CAGR During 2017 - 2025" projects that growth of the retail and automotive sectors in regions such as Asia Pacific and Latin America is likely to boost the growth of the global pallets market over the next couple of years.

By ·

According to Persistence Market Research’s new report, the global pallets market, which is currently valued at over US$ 47,337 Mn is expected to register a CAGR of 5.4% between 2017 and 2025 to reach a valuation of US$ 76,067.2 Mn. During this eight years of the forecast, the market will be primarily driven by increasing global standards of goods transportation operations that is necessitating the adoption of pallets to a significant extent.

Demand for pallets is gaining healthy traction owing to increasing urbanization in emerging countries such as China, Brazil and India, implicating the establishment of better and safer goods transportation system in large-scale industries such as food & beverages, pharmaceuticals and agriculture in these nations.

PMR’s report, titled “Global Market Study on Pallets: Plastic Material Type Segment Projected to Register the Highest CAGR During 2017 - 2025” projects that growth of the retail and automotive sectors in regions such as Asia Pacific and Latin America is likely to boost the growth of the global pallets market over the next couple of years.

The market in Asia Pacific is anticipated to present lucrative growth opportunities for pallet manufacturers. Moreover, growing number of supermarkets and hypermarkets is also leading to widespread adoption of pallets in the region. Pallets facilitate easier and faster movement of large quantities of consumer products from inventories to display cabinets. In terms of value, Europe and North America are expected to retain their leading positions in the global pallets market over the forecast period, as these two regions were early adopters of pallets.

Key excerpts from the report include
—Based on structural design, block pallets are the most widely used pallets across the world, however, in North American stringer pallets are favored more. In terms of value, block pallets are expected to account for the largest share of the market over the forecast period.
—By material type, wood is currently the most preferred material for manufacturing pallets. This is primarily owing to its massive benefits in terms of response time and low startup cost for customized designs. Nevertheless, demand for plastic pallets is expected to grow at an impressive rate during the forecast period.
—By end-user, the food and beverage sector accounts for the largest value share of the market and is expected remain dominant throughout the assessment period.


Subscribe to Modern Materials Handling Magazine!

Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Article Topics

Packaging · Pallets · · All Topics
Latest Whitepaper
Download: Material Handling Technology Survey Results
Readers are buying and replacing warehousing and distribution center software, but not before they do their own homework.
Download Today!
From the July 2017 Modern Materials Handling Issue
Shuttle and case dispensing technologies help Southern Glazer’s Wine & Spirits keep up with demand in one of the most competitive markets in the country.
Southern Glazer’s Wine & Spirits: Designed to Last
Automation: What’s at the heart of your system?
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Warehouse Execution Systems (WES): The Pathway to Same-Day Fulfillment
This webinar explores the processes and technologies enabling same-day, same-hour order fulfillment using intelligent supply chain software.
Register Today!
EDITORS' PICKS
Southern Glazer’s Wine & Spirits: Designed to Last
On Long Island, the country’s premier distributor of wine and spirits turned to shuttle and case...
GE Healthcare System Report: Lean repairs
Self-driving mobile robots improve cycle times and reduce floor space at GE Healthcare’s new...

Materials Handling Innovation (and why it matters)
Every company considers itself an innovator. It’s time to include materials handling leaders in...
Thrive Market’s Startup Distribution Network
How does a fastgrowing, e-commerce startup company build out order fulfillment capabilities? Thrive...