The global plastic pallets market is projected to grow at a CAGR of 6%. Plastic pallets are significantly growing as the platform of choice for many companies owing to the benefits like durability, light-weight, and strength. Plastic pallets derive their advantages from the material out of which they are produced. Plastic is light, strong, durable,non-absorbent &does not react to moisture or microorganisms. High-quality plastic pallets have a sturdy unitized construction that does not use nails or boards, which in wood pallets often pull loose, leave behind debris in production& transport areas. The material & construction of plastic pallets makes them an ideal shipping platform for industries where hygiene, safety, strength are priorities.
High-Density Polyethylene (HDPE) material dominates the market
Plastic Pallets are made from a variety of different materials. Each has its own benefits and challenges. The most common material used to mold plastic pallets is HDPE. HDPE dominated the market for the year 2020 with a share of over 68%. The dominance was attributed to extensive availability and sturdy nature. Milk jugs are the single largest use of HDPE. It is also very inexpensive as compared to other plastics, especially recycled resin. Nestable pallets with a market dominance of over 43% were the second largest in the year 2020.
End-to-end application expansion by Industrial Users
Pallets are used in almost every supply chain, including industries such as chemicals, food, and beverage, retail, pharmaceuticals, agriculture, and others. In 2020, the food and beverage end-use category led the market, accounting for more than 23% of worldwide sales. Plastic skids are used in the food and beverage industry by farmers to handle fresh produce as well as bakery, dairy, beverage, meat, and other food processing firms. The food and beverage industry's use of plastic skids is predicted to increase as the packaged food sector expands.
Covid-19 Pandemic Led To A Detrimental Impact
The Covid-19 pandemic has had a detrimental impact on the worldwide pallets market, owing to a halt in international trade, protracted lockdowns, and supply and logistical activities around the world whereas, on the other hand, it has helped increase the population's preference for e-commerce platforms, particularly in nations such as India and others where e-commerce was less prevalent. With the rise of e-commerce, supply chains have been forced to improve transportation and logistics to control the flow and cost of departing and incoming commodities thereby generating demand for pallets. Covid-19 impacted the plastic pallets market in both aspects: positive and negative.
Asia Pacific led the global market
Based on regional segmentation, the plastic pallets market is divided into North America, Latin America, Asia Pacific, Europe, and Africa. The Asia Pacific dominated the regional market, accounting for more than 30% of total revenue in 2020. The increasing manufacturing sector in emerging nations such as China and India due to cheap production costs, along with expanding e-commerce penetration, is majorly driving the region's market growth.
Key Players
Key players include Orbis Corporation, Rehrig Pacific Company, Falkenhahn AG, Greystone Logistics, Monoflo International, CABKA Group, Buckhorn Inc, TMF Corporation, Rehrig Pacific Company, Inc, Allied Plastics, Inc, Perfect Pallets, Inc, SchoellerAllibert Services B.V, The Craemer Group, Euro Pool System International B.V. The strategy used is reuse of plastic containers, pallets, dunnage & bulk systems improve the flow product all along the supply chain, to reduce costs, enhance profitability & add sustainability.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2029.
Report Scope by Segments
Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from the top down, bottom strategies, and primary research. The scope of the market is limited to the following segments of product categories and region.
Key questions answered in this report
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High-Density Polyethylene (HDPE) material dominates the market
Plastic Pallets are made from a variety of different materials. Each has its own benefits and challenges. The most common material used to mold plastic pallets is HDPE. HDPE dominated the market for the year 2020 with a share of over 68%. The dominance was attributed to extensive availability and sturdy nature. Milk jugs are the single largest use of HDPE. It is also very inexpensive as compared to other plastics, especially recycled resin. Nestable pallets with a market dominance of over 43% were the second largest in the year 2020.
End-to-end application expansion by Industrial Users
Pallets are used in almost every supply chain, including industries such as chemicals, food, and beverage, retail, pharmaceuticals, agriculture, and others. In 2020, the food and beverage end-use category led the market, accounting for more than 23% of worldwide sales. Plastic skids are used in the food and beverage industry by farmers to handle fresh produce as well as bakery, dairy, beverage, meat, and other food processing firms. The food and beverage industry's use of plastic skids is predicted to increase as the packaged food sector expands.
Covid-19 Pandemic Led To A Detrimental Impact
The Covid-19 pandemic has had a detrimental impact on the worldwide pallets market, owing to a halt in international trade, protracted lockdowns, and supply and logistical activities around the world whereas, on the other hand, it has helped increase the population's preference for e-commerce platforms, particularly in nations such as India and others where e-commerce was less prevalent. With the rise of e-commerce, supply chains have been forced to improve transportation and logistics to control the flow and cost of departing and incoming commodities thereby generating demand for pallets. Covid-19 impacted the plastic pallets market in both aspects: positive and negative.
Asia Pacific led the global market
Based on regional segmentation, the plastic pallets market is divided into North America, Latin America, Asia Pacific, Europe, and Africa. The Asia Pacific dominated the regional market, accounting for more than 30% of total revenue in 2020. The increasing manufacturing sector in emerging nations such as China and India due to cheap production costs, along with expanding e-commerce penetration, is majorly driving the region's market growth.
Key Players
Key players include Orbis Corporation, Rehrig Pacific Company, Falkenhahn AG, Greystone Logistics, Monoflo International, CABKA Group, Buckhorn Inc, TMF Corporation, Rehrig Pacific Company, Inc, Allied Plastics, Inc, Perfect Pallets, Inc, SchoellerAllibert Services B.V, The Craemer Group, Euro Pool System International B.V. The strategy used is reuse of plastic containers, pallets, dunnage & bulk systems improve the flow product all along the supply chain, to reduce costs, enhance profitability & add sustainability.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2029.
Report Scope by Segments
Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from the top down, bottom strategies, and primary research. The scope of the market is limited to the following segments of product categories and region.
Key questions answered in this report
- What are the key market segments in the current scenario and the future by product categories?
- What are the key market segments in the current scenario and the future by region?
- What is the key impact of Covid-19 over market revenues and market determinants in the Plastic Pallets Market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segments?
- Who are the key players in the Plastic Pallets Market and what are their key product categories and strategies?
- What are the key strategies – mergers/acquisitions/R&D/strategic partnerships,etc that companies are deploying to enhance market revenues and growth?
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Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Plastic Pallets Market (PP), By Material
Chapter 5 Plastic Pallets Market (PP), By Type
Chapter 6 Plastic Pallets Market (PP), By Application
Chapter 7 North America Plastic Pallets Market Analysis
Chapter 8 Europe Plastic Pallets Market Analysis
Chapter 9 Asia Pacific Plastic Pallets Market Analysis
Chapter 10 Rest of the Plastic Pallets Market (PP) Market Analysis
Chapter 11 Company Profiles
Companies Mentioned
- Orbis Corporation
- Rehrig Pacific Company
- Falkenhahn AG
- Greystone Logistics
- Monoflo International
- CABKA Group
- Buckhorn Inc
- TMF Corporation
- Rehrig Pacific Company Inc
- Allied Plastics Inc
- Perfect Pallets Inc
- SchoellerAllibert Services B.V
- The Craemer Group
- Euro Pool System International B.V.
