Plastic Pallet Market Size is projected to reach USD 18.20 Billion by 2030, growing at a CAGR of 5.8 %: Straits Research

The global Plastic Pallet Market size market was valued at USD 7,165 million in 2021. By 2030, it is predicted to reach USD 18,207 million with a CAGR of 5.8% during the forecast period (2022-2030). Asia-Pacific dominates the global plastic pallet market and is expected to grow at a CAGR of 6.7% by 2030.

 | Source: Straits Research Straits Research

New York, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Plastic pallets are rigid structures that hold goods in place during transportation or storage. They play an essential role in the supply chain and logistics industries. Plastic pallets have numerous advantages over other types of pallets. Today around 90% of pallets are manufactured with recycled plastic. The most used recycled plastic is high-density polyethylene. On the other hand, some manufacturers used post-industrial scrap, including rubber, silicates, and polypropylene. 


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Growing Need to Reduce the Overall Weight of Bulk Packaging Drives the Market for Plastic Pallets

The need to reduce the weight of overall bulk packaging is growing day by day. The importance of the consignment or shipment during transportation is an essential factor in determining the cost of the finished product. It is common for the transportation cost of a product to exceed its production cost, reducing the overall profit margin. Plastic pallets are significantly lighter than wooden or metal pallets, which is expected to entice end-user companies to use them.

The deadweight of a company is the weight of a container or packaging used to transport materials or products. More packaging weight means higher transportation costs, which limits manufacturers' options. This is expected to increase demand for low-weight packaging materials capable of reducing deadweight while improving material handling and transportation efficiency.


Expanding End-Use Industries to Create New Market Opportunities for Plastic Pallets

The primary end-use industries for plastic pallets are food and pharmaceutical. Plastic pallets are increasingly replacing wooden pallets because sanitation and safety are top priorities in both sectors. Large volumes of raw materials are handled, stored, and transported daily in the processed food industry. Plastic pallets are widely used for material handling throughout manufacturing and transportation.

As a result of an increasingly hectic lifestyle and an expanding middle-class population, the global processed food industry has grown significantly. Furthermore, the rapid introduction of new food and beverage products, combined with rising e-commerce and organized retail penetration, has resulted in the growth of the processed food industry. Key food manufacturers are rapidly expanding their manufacturing capacity and distribution networks.


Report Scope

Report MetricDetails
Market SizeUSD 18.20 Billion  by 2030
CAGR5.8% (2022-2030)
Historical Data2019-2020
Base Year2021
Forecast Period2022-2030
Forecast UnitsValue (USD Billion )
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredMaterials, Type and End-User
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsOrbis Corporation ,Rehrig Pacific Company ,Monoflo International ,CABKA Group ,Perfect Pallets Inc. ,Greystone Logistics ,Polymer Solutions International Inc. ,TMF Corporation ,Allied Plastics Inc. ,TranPak Inc.
Key Market OpportunitiesExpanding End-Use Industries
Key Market DriversRising Demand to Lower the Overall Weight of Bulk Packaging

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Regional Insights

Asia-Pacific dominates the global plastic pallet market and is expected to grow at a CAGR of 6.7%. Asia-Pacific has become a manufacturing hub (TPP) because of the countries participating in the Trans-Pacific Partnership Agreement. TPP is a free trade agreement that has strengthened the region's trade and manufacturing sectors, driving demand for plastic pallets over the years

North America holds the second-largest share in the global plastic pallet market. It is expected to reach USD 3,333 million by 2030, growing at a CAGR of 5.5%. This is due to increased demand for plastic pallets from end-user industries, particularly domestic supply chains. The robust manufacturing industry, particularly in the United States, contributed to the region's significant share. 

Europe is expected to witness substantial growth during the forecast period. Through E.U. treaties, the European Union has supported sustainable development by recognizing the environmental, economic, and social dimensions. The European Commission published a new roadmap for sustainability in the E.U.'s economy in December 2019, significantly impacting end-use industries because the objectives pushed them to adopt green packaging, including reusable plastic pallets. 


Key Highlights

  • The global plastic pallets market size was estimated at USD 7,165 million in 2021, and it is expected to reach USD 18,207 million by 2030, growing at a CAGR of 5.8% during the forecast period (2022–2030).
  • Based on materials, the global plastic pallet market is segmented into High-Density Polyethylene, Low-Density Polyethylene, Polypropylene, and Others. High-density polypropylene (HDPE) accounts for the largest share and is expected to grow at a CAGR of 5.9% by 2030. Since HDPE is exceptionally durable and has high impact resistance, HDPE pallets sustain little or no damage from rough handling by forklifts and other material handling equipment.
  • Based on type, the global plastic pallet market is segmented into Nestable, Rackable, Stackable, and Others. Nestable Pallets account for the largest share and are expected to grow at a CAGR of 6% by 2030. Nestable pallets are less expensive than rackable and stackable pallets, making them an excellent plastic pallet option for export or open-loop supply chain applications. In the coming years, the growing need to reduce the weight of bulk transportation is expected to favor the growth of nestable pallets.
  • Based on end-user, the global plastic pallet market is segmented into Food & Beverages, Chemicals, Pharmaceuticals, Petroleum & Lubricants, and Others. Food and Beverages dominate the global plastic pallet market and are expected to grow at a CAGR of 5.9% by 2030. The food and beverage industry has witnessed considerable growth over the past few years because of changing lifestyles, convenience, and increased penetration of retail stores. 
  • Based on regions, the global plastic pallet market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. North America acquires the second-largest position in the market.


Competitive Landscape

Key players in the global plastic pallet market are

  • Orbis Corporation
  • Rehrig Pacific Company
  • Monoflo International
  • CABKA Group
  • Perfect Pallets Inc
  • Greystone Logistics
  • Polymer Solutions International Inc
  • TMF Corporation
  • Allied Plastics Inc
  • TranPak Inc.


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Global Plastic Pallet Market: Segmentation

By Materials

  • High-Density Polyethylene
  • Low-Density Polyethylene
  • Polypropylene
  • Others

By Type 

  • Nestable
  • Rackable
  • Stackable
  • Others

By End-User

  • Food and Beverages
  • Chemicals
  • Pharmaceutical
  • Petroleum and Lubricants
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America
  • The Middle East and Africa

 

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Plastic Pallet Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Materials Overview
    1. Introduction
      1. Market Size & Forecast
    2. High-Density Polyethylene
      1. Market Size & Forecast
    3. Low-Density Polyethylene
      1. Market Size & Forecast
    4. Polypropylene
      1. Market Size & Forecast
  5. Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Nestable
      1. Market Size & Forecast
    3. Rackable
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Materials
        2. By Materials
      3. Canada
        1. By Materials
        2. By Materials
      4. Mexico
        1. By Materials
        2. By Materials
      5. Latin America
        1. By Materials
        2. By Materials
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Materials
        2. By Materials
      3. France
        1. By Materials
        2. By Materials
      4. U.K.
        1. By Materials
        2. By Materials
      5. Italy
        1. By Materials
        2. By Materials
      6. Spain
        1. By Materials
        2. By Materials
      7. Rest of Europe
        1. By Materials
        2. By Materials
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Materials
        2. By Materials
      3. China
        1. By Materials
        2. By Materials
      4. Australia
        1. By Materials
        2. By Materials
      5. India
        1. By Materials
        2. By Materials
      6. South Korea
        1. By Materials
        2. By Materials
      7. Rest of Asia-Pacific
        1. By Materials
        2. By Materials
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Materials
        2. By Materials
      3. South Africa
        1. By Materials
        2. By Materials
      4. Kuwait
        1. By Materials
        2. By Materials
      5. Rest of Middle East & Africa
        1. By Materials
        2. By Materials
  7. Company Profile
    1. The Orbis Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Rehrig Pacific Company
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Monoflo International
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    4. CABKA Group
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio


Table of Content and Figure @ https://straitsresearch.com/report/plastic-pallet-market/toc


Market News

  • In January 2022, Greystone Logistics, Inc. commenced shipping pallets for a recently USD 13.5 million purchase order to provide 100% recycled 48x40 plastic shipping pallets for a nationwide retailer at one of their U.S. warehouse distribution centers.
  • In March 2022, Cabka Group GmbH (together with its subsidiaries, "Cabka"), a leading integrated circular production company, and Dutch Star Companies TWO B.V. ("DSCT"), a particular purpose acquisition company listed on Euronext Amsterdam, reached an agreement on forming a business combination to list as Cabka N.V.


News Media

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Polyvinyl Chloride Cliques for an Ambitious Target in Construction Plastic Market


Have a Look at the Related Research Report               

Plastic Market: Information by Product Outlook (Polyethylene (PE), Polypropylene (PP)), Application Outlook (Injection Molding, Blow Molding), and Region — Forecast till 2030

Recycled Plastic Market: Information by Product (Polyethylene, Polyethylene Terephthalate), Source (Plastic Bottles, Plastic Films), Application (Building & Construction, Packaging, Electrical), and Region — Forecast till 2030

Polyamide Market: Information by Product (Polyamide 6, Polyamide 66, Bio-Based Polyamide, Specialty Polyamide), Application (Engineering Plastics, Fibers), and Region — Forecast till 2030


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Plastic Pallet Market Plastic Pallet Market Share rigid structures supply chain logistics industries Recycled Plastic rubber US

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