Pallet Pooling Market: Current Analysis and Forecast (2022-2030)
Emphasis on Pallet Type (block Pallets, Stringer Pallets, Double Face Pallets, Double Wing Pallets, and Solid Deck Pallets), Pallet Material (Wooden Pallets, Plastic Pallets, Metal Pallets, and Cardboard Pallets), By End User Industry (FMCG, Food and Beverages, Retail and Distribution, Pharmaceuticals, Manufacturing, Logistics, and Transportation Industry, and Others), and Region/Country.
The pallet pooling market is expected to grow at a strong CAGR of around 6% during the forecast period 2022-2030. The pallet polling market refers to the practice of sharing and reusing pallets among multiple businesses for the purpose of transporting goods. It involves the leasing or renting of pallets, rather than owning them outright. This approach helps businesses optimize their supply chain operations by reducing costs, improving efficiency, and promoting sustainability. Moreover, the integration of pallets with tracking technologies like RFID tags and GPS systems has enabled better inventory management and enhanced visibility throughout the supply chain. Additionally, the rise of e-commerce and globalization has increased the demand for pallet pooling services to accommodate the complexities of international logistics. Furthermore, the pallet pooling market presents significant growth opportunities. As businesses continue to seek cost-effective and sustainable solutions for their supply chain operations. Moreover, the increasing focus on circular economy principles and environmental regulations will drive the adoption of pallet pooling as a way to reduce waste and minimize the carbon footprint associated with pallet production and disposal. For instance, in June 2022, as per SupplyChain247, Demand for pallets is up by about 25% this year, and pallet demand is outpacing production, lead times are increasing and most pallet users experiencing spikes in demand for their products, and the demand for pallets is only growing.
Some of the major players operating in the market include 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.; and PPS Midlands Limited
Insights Presented in the Report
Based on pallet material, the market is segmented into wooden pallets, plastic pallets, metal pallets, and cardboard pallets. Plastic pallets are anticipated to witness a significant CAGR growth during the forecasted period owing to the fact that, businesses are increasingly embracing sustainability in search for efficiency and cost savings throughout their supply chain, which has led to turning them towards reusable plastic pallets to protect their products. Furthermore, Reusable plastic pallets, which can be recycled and reprocessed into new packaging solutions at the end of their usefulness, are sustainable, efficient, and durable, and have high weight capacities and long service life. Moreover, the durability of reusable plastic pallets allows them to make many trips through the supply chain before being recycled, representing great savings over wood pallets on a cost-per-trip basis, and this rise in popularity of plastic pallets can also be seen from the recent product launches by in this space. For instance, in June 2021, Craemer Group, a plastic pallets manufacturer, released the CR4-5, the newest 48’’ x 40’’ pallet model within its CR series, having heavy-duty load capabilities and is 100% recyclable. Its capacities include 16,500 lbs. (7,500 kg) for static loads, 3,300 lbs. (1,500 kg) for dynamic loads, and 3,100 lbs. (1,400 kg) in racking systems. The pallets are equipped with steel reinforcement rods to help handle these load capacities.
“Europe dominated the pallet pooling market in 2021.”
The pallet pooling market in Europe held the largest market share and is expected to maintain its growth throughout the forecast period. The major factor contributing to this growth is the rising trend of logistics outsourcing among businesses across the eurozone, in order to keep the businesses agile and remove the delivery inefficiencies by completing the logistics life cycle being taken care of. Furthermore, with the rising e-commerce, increasing consumerism, as well growing demand for fast and efficient delivery, the logistics industry is undergoing a significant transformation, and pallet pooling is playing an important role in enabling this transformation and increasing the operational efficiency of the logistics industry, leading to the growth of the pallet pooling market in the European region, which can be seen from the rising production of pallets due to its huge demand. For instance, in March 2023, European Pallet Association reports that EPAL Euro pallets production increases by 7.6% in 2022, where EPAL has increased production to a new record of 109.05 million EPAL Euro pallets. This represents a growth of 7.55 %, or 7.65 million EPAL Euro pallets year-on-year.
Pallet Pooling Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global pallet pooling market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Pallet Pooling Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global pallet pooling market were the three major steps undertaken to create and analyze the adoption of pallet pooling in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global pallet pooling market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the pallet pooling market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the pallet pooling market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as pallet type, pallet material, and end-user industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the pallet pooling market. Further, we conducted factor analysis using dependent and independent variables such as pallet type, pallet material, and end-user industry of the pallet pooling market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the pallet pooling market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global pallet pooling market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the pallet pooling market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global pallet pooling market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global pallet pooling market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the pallet type, pallet material, and end-user industry in the global pallet pooling market.
The main objective of the Global Pallet Pooling Market Study
The current & future market trends of the global pallet pooling market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the pallet pooling market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the pallet type, pallet material, and end-user industry.
- Define and analysis of the regulatory framework for the pallet pooling market
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the pallet pooling market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the pallet pooling market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Rail Saw Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Type (Electric, Manual), By Application (Train Rail, Tram Rail, Others), and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
June 28, 2024
