Pallets are horizontal platforms which offer a base for storing, handling, assembling and transporting products and materials. They are a type of tertiary packaging affixed with a superstructure and a bottom. Pallets are portable and easy to handle as they help in simplifying the process of loading and unloading and ensure safe delivery of the product. As a result, they are extensively used by suppliers and manufacturers of commercial goods across the globe. A new research report by IMARC Group, titled “Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, estimates that the global pallet market reached a volume of 7.6 Billion Units in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.8% during 2021-2026.
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Global Pallet Market Drivers/Constraints:
- There has been a rise in the expenditure on both housing and infrastructure activities owing to a significant increase in disposable incomes and rapid urbanisation. This is one of the major factors which has been propelling the market growth.
- Manufacturers have increasingly started using multiple-trip pallets instead of single-trip pallets as they offer lower cost per-trip, eliminate solid waste and enhance operational efficiency. This has, in turn, positively influenced the growth of the market.
- Over the past years, there has been a significant development in the logistics and transportation sectors as well as trade volume of numerous emerging nations which have contributed towards an augmented demand for pallets across the globe.
- The limited availability of pallets and increasing cost of raw materials are some of the other factors which act as major factors impeding the growth of the global pallet market.
- Brambles Ltd.
- Rehrig Pacific Company
- Schoeller Allibert
- LOSCAM
- CABKA Group
Breakup by Type:
- Wood
- Plastic
- Metal
- Corrugated Paper
- Food and Beverages
- Chemicals and Pharmaceuticals
- Machinery and Metal
- Construction
- Others
- Block
- Stringer
- Others
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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