Allied Market Research published a new report, titled, ” Global Corrugated Pallets Market by Product Type and End User: Opportunity Analysis and Industry Forecast, 2019-2026 The global corrugated pallets market size was valued at $1,062.0 Mn in 2018 and is anticipated to reach $1,481.9 Mn by 2026, with a CAGR of 4.4% during the forecast period. The corrugated pallets market exhibit incremental revenue opportunity of $419.9 million from 2018 to 2026.
The global corrugated pallets market is expected to witness rapid growth in terms of revenue over the next 10 year. The rapid growth in revenue of corrugated pallets is mainly attributed to its advancement in engineering and use in building more strong packaging alternative. Major end users such as food & beverages processing companies and chemical & pharma companies are actively investing in more advanced and sustainable packaging solutions. The growth in export-oriented market for these stakeholders and increased expenditure on product distribution have created a need for more cost-effective and light-weight packaging solutions.
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The corrugated pallets market is segmented on the basis of product type, end user, and region. Based on product type, the corrugated pallets market is categorized into <3 walls, 3-5 Walls, and 5+ Walls. The <3 walls pallet segment was valued at $425.7 million in 2019, and is expected to grow with a CAGR of 4.5% to reach $579.2 Mn by 2026 in overall corrugated pallets market share. The 5+ walls pallet segment would be the fastest growing segment with a CAGR of 4.1% during the forecast period.
Based on end user, the corrugated pallets market is segmented into food & beverages, chemical & pharma, agriculture, metal & machinery, wholesalers, and others. The food & beverages end user segment domain corrugated pallets market share and was valued at $229.1 Mn in 2019 and is expected to grow with a CAGR of 2.5% (2019-2026) to reach $272.9 Mn by 2026.
Geographically, the global market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa). Countries such as China and India would emerge as one of the leading consumers for corrugated pallets, owing to increased penetration of e-commerce retailing that requires light weight and cost-effective packaging materials.
Key Market Players Profiled In The Report:
• DS Smith
• Smurfit Kappa
• KraftPal Technologies
• The Corrugated Pallets Company
• Kamps Pallets
• PGS Group
• Conitex Sonoco
• Spanco Enterprises
• Brambles Limited.
Key Benefits for Corrugated Pallets Market:
○ The report provides detailed qualitative and quantitative analysis of the current corrugated pallets market trends and future estimations that help evaluate the prevailing corrugated pallets market share and opportunities.
○ The key drivers, restraints, opportunities, and detailed corrugated pallets market analysis are elucidated in the study.
○ The market analysis is conducted by following key product positioning and monitoring the top competitors within the industry.
○ The report provides extensive qualitative insights on the potential and corrugated pallets segments or regions exhibiting favorable corrugated pallets market growth.
○ The industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players along with the corrugated pallets market forecast.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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