The surging logistics outsourcing is propelling the growth of the pallet pooling market in the European Region!
- Vikas Kumar
- July 28, 2023
- MINING & MACHINERY, NEWS
- Pallet Pooling Market
- 0 Comments
Europe region holds a significant share of the pallet pooling market, the major factor contributing to this growth is, Europe is one of the biggest producers of timber, producing about 100 million cubic meters of timber, and 90% of pallets are manufactured from timber. Furthermore, there are almost 4 billion wooden pallets, that are in circulation in Europe. Moreover, pallets are an essential element of the existing logistics worldwide, and with the rapid rate of globalization and increasing consumption, there has been a surge in the transportation of products within and across countries and continents, thus increasing the demand for pallets. In addition, pallet pooling is becoming popular as it is an ideal solution for an automated supply chain, and helps in optimizing the transport flow and reducing associated costs. Also, pallet pooling simplifies the logistics operations for the producers.
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Moreover, pallet pooling presents cost-saving opportunities to the suppliers, as there is an associated cost that comes with owning pallets in terms of inventory and handling costs, maintenance costs, as well as costs that the suppliers have to incur after the delivery in transportation for getting those pallets back or charging more to their customers for those pallets which in turn decreases the operating margin and pallet pooling takes care of that. For instance, in May 2023, CHEP, a pallet pooling company announced that its new algorithm increases pallet recoveries in Europe by 500,000 units per year.
The Europe pallet pooling market is expected to grow at a strong CAGR of around 6% during the forecast period (2022-2030). Europe holds the dominating share of the global pallet pooling market, the major factors responsible for this domination are the increasing logistics outsourcing, rising trade within and outside the countries, and surging demand with growing e-commerce.
FIG. 1 Europe Pallet Pooling Market Revenue (2020-2030)- USD Mn
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“Amongst Pallet type, the block and stringer pallet segment is expected to grow at a significant CAGR”
Based on pallet type, the market is segmented into block pallets, stringer pallets, double face pallets, double wing pallets, and solid deck pallets. The Block pallets and stringer pallets are the two of the most widely used pallets in the industry where block pallets are used for heavy goods shipments and where a multi-step supply chain is involved due to their durability and sturdiness, whereas stringer pallets are preferred due to its lightweight and inexpensive cost.
Based on the end-user industry, the market is segmented into FMCG, food and beverages, retail and distribution, pharmaceuticals, manufacturing, logistics, transportation industry, and others. The logistics and transportation industry generates the majority of the demand for the pallet pooling market owing to the booming logistics industry, the factors responsible for this growth are increasing consumer demand, rising last mile deliveries with increased e-commerce and online shopping which, has further lead to increased production of goods and trade activities. Furthermore, with logistics industry broadening the scope of their business from transportation and warehousing to more integrated systems such as inventory management, warehouse management, material handling, packaging, and supply chain management is further contributing to the growth of the logistics and transportation industry which in turn is benefitting the pallet pooling market.
Global Pallet Pooling Market Segmentation
Market Insight, by Pallet Type
· Block Pallet
· Stringer Pallet
· Double Face Pallet
· Double Wing Pallet
· Solid Deck Pallet
Market Insights, by Pallet Material
· Wooden Pallet
· Plastic Pallet
· Metal Pallet
· Cardboard Pallet
Market Insights, by End User Industry
· FMCG
· Food and Beverages
· Retail and Distribution
· Pharmaceuticals
· Manufacturing
· Logistics and Transportation Industry
· Others
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o India
o Japan
o Australia
o Rest of APAC
· Rest of the World
Top Company Profiles
· Brambles Limited
· Buckhorn
· CABKA Group
· Contraload NV
· Demes Logistics GmbH & Co. KG
· Eur-Pool System International
· Faber Halbertsma Groep B.V., iGPS Logistics LLC
· Litc-International
· Loscam Australia Pty. Ltd.
· PPS Midlands Limited
