According to the forecast period of 2022-2028, pallet boxes are expected to maintain a dominant market share in the global pallet boxes market. The market is projected to witness growth, reaching a value of US$2.3 billion in 2022 and increasing to US$3.0 billion in 2028, with a compound annual growth rate (CAGR) of 4.5%.
The global pallet market is estimated to account for 3.2% of the US$95 billion global pallet industry by 2028, indicating its significance within the broader pallet industry. Customized pallets are also expected to contribute to the market growth, with a projected value of US$184.5 million in 2022 and a CAGR of 5.7% from 2022 to 2028.
The growth of the pallet boxes market can be attributed to various factors, including the need for efficient and safe storage and transportation solutions, the optimization of supply chain operations, and the rising demand for customized pallets to meet specific industry requirements.
For More Insights on this Market, Get A Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-7243
Asia Pacific excluding Japan (APEJ) and North America are expected to have a significant presence in the pallet boxes market. In India, many manufacturing enterprises are outsourcing their services to warehouse providers to reduce the demand for pallet boxes. The growing logistics and transportation industry in the region contributes to the increased prevalence of pallet boxes. Pallet boxes play a crucial role in the supply chain as they can be used for both distribution and storage. The market is expected to be significantly influenced by the growing trade volume in emerging markets.
The Most Popular Pallet Boxes are Plastic and Block Pallet Boxes.
Plastic pallet boxes are expected to become a more popular bulk packaging choice in the future years, according to FMI. Pallet boxes constructed of plastic are lighter and more suitable than wooden and metal ones, maximising volume utilisation of items throughout distribution and keeping produce fresh when used to transport food grains, fruits, and vegetables. Depending on its usability, plastic pallet boxes are likely to find a position among processed food businesses as well.
However, due to high costs involved in incorporating advanced packaging technologies like palletization into industries and poor supply chain infrastructure in emerging economies like India, low or negligible adoption of advanced packaging technologies like palletization could have a negative impact on the growth of the pallet boxes market. Furthermore, the rise in pallet pooling and manufacturers’ adoption of plastic pallet boxes, which have a longer life, are two major restraints on the worldwide pallet box market.
Competitive Landscape
The key manufacturers operating in pallet boxes market are focusing on increasing their production capacity to meet the increasing demand for pallet boxes. Moreover, the key players are increasing their product portfolio to cater for the growing pallet boxes market.
- In October 2021, The Craemer Group comes with its latest product development which is the large-volume CB3 high pallet box with a capacity of around 1,000 litres.
- In March 2020, Exporta, the UK’s product handling experts have added a new base entry level model of their hercules collapsible plastic pallet box to their range at an amazing price level.
Are you looking for customized information related to the latest trends, drivers, and challenges? @ https://www.futuremarketinsights.com/customization-available/rep-gb-7243
Pallet Boxes Market by Category
By Material:
- Wooden Pallet Box
- Plastic Pallet Box
- Metal Pallet Box
- Paper Pallet Box
By Pallet Type:
- Block Pallet
- Stringer Pallet
- Customized Pallet
By End-use Industry:
- Agriculture & Allied Industries
- Building & Construction
- Chemical & Pharmaceutical
- Food & Beverages
- Engineering Products
- Textile & Handicraft
- Automotive
- Other Industries
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-7243
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
