Global Market Study on Pallets: Plastic Material Type Segment Projected to Register the Highest CAGR During 2017 - 2025

Asia Pacific is expected to be an opportunistic market in terms of consumption in the global pallets market. Key players in the region are expanding their footprint to leverage the burgeoning food & beverage and transportation sectors in the Asia Pacific region. Europe and North America are the early adopters of pallets in the food industry. The pallets market is characterized by the presence of a large number of Europe, North America, and Asia Pacific based players.

There are a limited number of manufacturers in MEA and Latin America regions. The global pallets market has witnessed increasing adoption of plastic pallets owing to its various advantages over wood pallets. This market is expected to be characterized by new product development over the forecast period.

According to the analysts of XploreMR, the market for wooden pallets is highly organized owing to a large number of trivial players in wood pallet manufacturing. These interesting findings are the key highlights of a newly published report titled “Pallets Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 - 2025.”

Another observation elucidated in the report pertains to the key player strategy of strengthening product portfolio by launching new products with improved characteristics. Also, strategic collaborations with small players to gain regional advantage is expected to be the key trend over the projected period.  Another important feature of the global pallets market is the status of the wooden pallets market.

The wooden pallets market is at a saturation stage. However, these pallets are expected to dominate the global pallets market throughout the forecast period. On the other hand, the demand for plastic pallets is increasing across various industries due to its inherent advantages. Moreover, these pallets minimize the rate of injuries as plastic pallets do not have nails and splinters.

Market participants indicate a preference for block pallets over stringer designs

According to the CEO of a North America based wood pallet manufacturing company, any global standardization of pallets is likely to support block pallets as the platform of preference. The customers involved in shipping largely prefer block pallets. North American pallet users are also increasingly moving towards block pallets.

The President of a plastic pallet manufacturing company from Europe region said that customers have been asking for plastic pallets because many new foreign import restrictions have been imposed that make the use of wooden pallets less attractive.

Plastic pallets are insect-free, can be easily cleaned and are totally recyclable. The palletization boom is set to occur in Asia and according to the Operations Director of an APAC pallet pooling service provider, the China market is expected to grow at unprecedented rates over the next 10 years as the country works to improve its logistics to cater to the global industrial metamorphosis.

Market Segmentation

Material Type

• Wood
• Composite Wood
• Plastic
• Paper
• Metal
  • Steel
  • Other metals

Structural Design

• Block
• Stringer
• Customized

End Use

• Engineering Products
• Pharmaceuticals
• Chemicals
• Textile & Handicraft
• Agriculture & Allied Products
• Electronics & Consumer Appliances
• Transportation & Warehousing
• Food & Beverage
• Retail
• Others

Regions

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Research Methodology

Market sentiments analysis has been exclusively covered in this report. The analysts have discussed the way wooden pallets have gradually shifted to alternative pallets. The expert team has observed that nails remain the most major cause of injury thereby causing a shift to the alternative (preferably plastic) material as a replacement to wooden pallets. The analysts have conducted more than 50 successful primary interviews while examining this market. Apart from extensive primary research, in-depth secondary research is used to arrive at the overall market size, top industry players, top products and industry associations.