The Plastic Pallets Market is valued at USD 7091.8 Million in 2021 and is expected to reach USD 10391.9 Million by 2028 with a CAGR of 5.61% over the forecast period.
Plastic Pallets Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for plastic pallets across the industry verticals, rising demand in food and beverage, automotive and shipping industry, pharmaceutical, and chemical industries as well as the rapid growth of e-commerce are some of the major factors expected to accelerate the growth of the Global Plastic Pallets Market.
Plastic pallets are made from robust materials, including polypropylene (PP) and high-density polyethylene (HDPE), and are mainly intended for multiple trips rather than a single trip. Plastic pallets are prepared from virgin and recycled plastic resins. Virgin resin-based skids offer superior performances. However, recycled resin-based pallets are less expensive and more sustainable, due to which they are producing considerable traction within the market. Plastic pallets have various advantages over other materials, such as being lightweight, hygienic, and cost-effective. The manufacturing of plastic pallets is done by using various methods such as; extrusion, thermoforming, blow molding, and injection molding. Some of the commonly used plastic pallets include export plastic pallets, display plastic pallets, spill control plastic pallets, hygienic plastic pallets, RFID plastic pallets, shipping plastic pallets, anti-static plastic pallets, drum plastic pallets, transport plastic pallets, and many others.
Covid-19 has shown a negative impact on the growth of the plastic pallets market. The pandemic has impacted the global supply chain of the pallets market as professional and import restrictions have been imposed in many countries. The use of plastic pallets has also been limited due to government limitations on trade. The revenue and sales of the plastic pallets market have been affected due to the shutdown of distribution channels and transportation retributions. Also, the lockdown caused a decrease in the production of plastic pallets due to the shutdown of production units and shortage of manpower. The returning strategy of plastic pallets has been greatly affected due to the restrictions in transportation.
The Plastic Pallets market is segmented based on material, type, end use, and geography. Based on material, the plastic pallets market is segmented into high-density polyethylene, low-density polyethylene, polypropylene, and others. On the basis of type, the plastic pallets market is segmented into nestable, rackable, stackable, and others. Based on end use, the plastic pallets market is segmented into food & beverages, chemicals, pharmaceuticals, petroleum & lubricants, and others.
The regions covered in this plastic pallets market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of plastic pallets is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players covered in the report for the global plastic pallets market are
On June 30th, 2021; Craemer Group, one of the world’s leading manufacturers of high-quality and long-lasting plastic pallets, released the CR4-5, the newest 48’’ x 40’’ pallet model within its CR series, well-known for its sustainability and heavy-duty load capabilities.
On September 23rd, 2020; ORBIS Corporation, an international leader in reusable packaging, added the new Odyssey rackable pallet for use in heavy-duty racking applications to its suite of plastic pallet offerings. The 40-by-48-inch Odyssey pallet is a robust solution that supports heavy loads and provides stability with unique design features, including optional steel reinforcements and molded-in frictional elements.
On April 1st, 2020; Exporta created and launched a new website and brand called Plastic Pallet Experts aimed at supporting the key industries supplying essential goods in the UK. The new website shows the wide range of products available from stock for next day delivery. The company has over 43,000 of these items in stock and a robust and quick supply chain in place for larger bulk orders.
The growing applications of plastic pallets across the various industry verticals is one of the major factors driving the market growth. In addition, increasing investment on product innovation by key players is also supplementing the market growth. Recently, in Saudi Arabia, the company Takween advanced industries is focused primarily on developing new and innovative plastic pallets with the use of various technologies, such as injection molding and blow molding to increase its market presence as well as CHEP adapted new technologies to develop plastic pallets to offer lightweight produces in multiple industries such as pharmaceutical and food and beverages. Recently, in September 2021, ORBIS Corporation, an international leader in reusable packaging, added the new Universal Container Pallet (UCP) to its suite of reusable plastic pallet offered in Latin America. According to the national Pallet and Container Association, approximately 1.9 billion pallets are in use in the U.S. each year.
Currently, pharmaceutical companies are shifting towards plastic pallets owing to its various advantages such as lightweight, environmentally friendly as compared to other pallets and cost-effectiveness. Also, the growing awareness to reduce the carbon footprint is also fostering the demand for plastic pallets. The need for HDPE material is increasing in the automotive and shipping industry, due its capacity to handle heavy loads. HDPE disposable plastic pallets are extensively used in the food and beverage industry as they are resistant to organic and inorganic chemicals at normal temperature. Furthermore, its increasing demand in food and beverage industry is also supplementing the demand for plastic pellets. Plastic pallets are resistant to bacteria and fungi and plastic pallets is customized as well as environmentally friendly. According to the IBEF, The Indian food and grocery market is the world’s sixth-largest, with retail contributing 70 per cent of the sales in 2020. According to the IFA 2020, Globally, fast food generates revenue of over $570 billion. There are 200,000 fast food restaurants in the United States, and it is estimated that 50 million Americans eat at one of them every single day. Hence, food is taken in hygienic properties. Thus, its rising demand in food and beverage, automotive and shipping, pharmaceutical, and chemical industries is augumenting the market growth.
However, a lack of proper warehousing infrastructure may hamper growth of the plastic pallets market during the forecast period. Despite that, the growth in demand for safe transportation of goods and various materials may likely to create more opportunities for the further growth of the global plastic pallets market.
Geographically, North America is expected to dominate the global plastic pallets market owing to the its increased demand in various industries and growing number of product offerings in this region. For example; pharmaceutical plastic pallets are the backbone of medical component transportation. These high-quality platforms keep products safe and help managers to resolve many of the most common medicine supply chain challenges as well as it is one of the important elements in safely transportation like from the supplier to the main manufacturers and vice-versa. These products give greater product protection. As these pallets are made of high-quality plastic, they remain unchanged in weight and shape throughout their entire useful life of products, so they guarantee their stability and the loads they support. Hence, increasing demand of plastic pallets in the pharmaceutical transportation is one of the major factors driving the growth of the market in this region. According to IQVIA in 2020, North America described for 49.0% of world pharmaceutical transactions compared with 23.9% for Europe. According to the U.S., FDA regulates about 78 percent of the U.S. food supply. According to the pharma approach article in 2019, the United States remained the world’s largest single pharmaceutical market, generating more than $490 billion of revenue.
The factor driving the market growth in the Asia Pacific region is its rising demand in food industry in Asia Pacific. Especially the countries such as India and China are expected to contribute for a major opportunity to grow over the estimated period. India’s food and beverage industry utilization in 2019 is projected at ~Rs. 30 Lakh Crores. In addition, its increasing demand for new technologies for waste reusing purpose and rising growth of automotive, biopharmaceutical and food & beverage industry in this region are also supplementing the market growth.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 7091.8 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 10391.9 Million|
|Tables, Charts & Figures:||175|
|Plastic Pallets Manufacturers||OMNIPAK S.R.O., Smart Flow Europe SA, ORBIS Corporation, Bekuplast Gmbh, Meridian Group D.O.O., TBA Plastové Obaly S.R.O., CABKA Group, PURUS Plastics GmbH, Plastic Pallets Manufacturers, and Paxxal Inc., and others.|
|Segments Covered||By Material, By Type, By End-Use|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|