Global Plastic Pallet
Market Report
2024
Plastic Pallet Pooling market is valued at USD 748.63 million in 2018 and is expected to reach USD 1,255.16 million by the end of 2030, growing at a CAGR of 5.44% between 2023 and 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global Plastic Pallet Pooling market is valued at USD 748.63 million in 2018 and is expected to reach USD 1,255.16 million by the end of 2030, growing at a CAGR of 5.44% between 2023 and 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Plastic Pallet Market Sales Revenue 2030 | $ 1 Million |
Global Plastic Pallet Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.44% |
North America Plastic Pallet Market Sales Revenue 2030 | $ 235.08 Million |
Europe Plastic Pallet Market Sales Revenue 2030 | $ 235.08 Million |
Asia Pacific Plastic Pallet Market Sales Revenue 2020 | $ 222 Million |
Asia Pacific Plastic Pallet Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.45% |
South America Plastic Pallet Market Sales Revenue 2024 | $ 76.03 Million |
Middle East and Africa Plastic Pallet Market Sales Revenue 2024 | $ 43.73 Million |
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Market Split by Application |
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Market Split by End Use |
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List of Competitors |
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Key Qualitative Information Covered |
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Pooling is a model that enables sharing and reusing of pallets, based on the principles of the circular economy. It provides an efficient and sustainable alternative to traditional pallet exchange. In this model, pallets are rented, shared and reused within a network of producers, manufacturers, distributors, retailers, transporters, LSPs, and service centers. This means that customers do not need to buy or exchange pallets, but can rent them and outsource the entire pallet management process. This transforms pallets from a commodity to a "Pallet as a Service". Using a pooling system is also more sustainable than purchasing new pallets. It reduces the number of trees that need to be cut to produce new pallets, as well as the fuel costs used to transport and manage them. Since a pallet pooling provider serves many companies nationwide, it can coordinate the movement of pallets in a way that is both economically and environmentally efficient.
All these benefits of pallet pooling are magnified with the use of better pallets. Companies that choose to use reusable pallets and manage them in-house are effectively running two separate businesses, as well as a parallel supply chain, just to provide their product with a shipping platform. Managing own pallet fleet adds significant transportation and labor costs to a company's expenses, and reusable pallets may even end up competing with products for transportation and storage space. To avoid dealing with the transportation and management of reusable pallets, some companies choose to use basic one-way stringer pallets. These come in various pallet grades that are mostly based on how many trips they've made through the supply chain. The best of these is the "club grade" pallet, which has never been used, has had no repairs, and is available for a premium price. Unfortunately, companies may end up paying that premium price repeatedly just to ensure that end retailers will accept their pallets.
A pallet pooling service provider manages pallets for manufacturers. Instead of buying their own pallets, manufacturers can rent them from a shared pool. The pooling company is responsible for providing a sufficient quantity of pallets in good condition that are ready for use, and delivering them to facilities when needed. In addition, they handle the logistics of transporting the pallets that have been used either to other businesses or back to the production facilities. This reverse logistics process ensures that pallets are recovered and made available for reuse. By taking on the responsibility of managing a company's pallet supply, a pallet pooling program simplifies the complexities associated with pallet procurement, management, and recovery. This results in reduced waste and a lower Total Cost of Business (TCOB) for the company.
Benefits of Plastic Pallet Pooling for Companies
• Plastic pallets don’t absorb moisture, chemicals, or bacteria, helping to prevent cross-contamination.
• The uniformity of a plastic pallet allows for the precise calibration of automated palletizers, conveyor belts, and Automated Storage and Retrieval Systems (ASRS).
• Reduced Product Damage
• Lightweight
• Others
The manufacturing industry across the globe has been experiencing significant changes and trends in recent years. These changes are driven by various factors such as technological advancements, geopolitical shifts, and evolving consumer demands. Some of the notable trends in the manufacturing industry include the adoption of Advanced Manufacturing Technologies, global supply chain optimization, and sustainable & green manufacturing, among others. Major economies such as the US, China, Japan, Germany, India, The UK, France, and others have seen a steady growth in their manufacturing sectors. In India, for instance, manufacturing has emerged as a key pillar in the country's economic growth, driven by the performance of key sectors like automotive, engineering, chemicals, pharmaceuticals, and consumer durables. Prior to the pandemic, the Indian manufacturing industry generated 16-17% of India's GDP, and it is projected to be one of the fastest-growing sectors in the country. By 2030, India aims to export goods worth US$ 1 trillion and become a major global manufacturing hub. Moreover, the manufacturing sector in India has registered the highest-ever annual exports of US$ 447.46 billion with 6.03% growth during FY23, surpassing the previous year's record exports of US$ 422 billion. The United States' manufacturing output can be seen in the graph below.
The manufacturing industry is growing rapidly across the world, and warehousing plays a vital role in linking production with distribution in the supply chain. Warehouses store products from the time they are produced or procured until they are distributed to customers. They are particularly crucial in the pharmaceuticals, food and beverages, chemicals, and other manufacturing industries. Large numbers of pallets are required in these warehouse facilities, and companies choose their pallets according to their specific needs. However, buying a large number of pallets can be expensive, so companies prefer pallet pooling services, in which they share and reuse pallets within a network of producers, manufacturers, distributors, retailers, transporters, LSP, and service centers. The primary advantage of renting pallets through a pooling service is that customers are no longer responsible for the logistics of retrieving empty pallets. The pallet pool handles this reverse supply chain for them by delivering the pallets in the required quantities and taking care of them once they have reached the end of the supply chain. The globally expanding manufacturing industry is driving an increased demand for warehouse pallet pooling solutions.
Expansion of the e-commerce sector tends to drive the demand for plastic pallet pooling services globally
The eCommerce industry is rapidly changing as the Internet becomes more accessible worldwide. Many traditional retail businesses are now moving to operate in the eCommerce space. Consumers are enjoying better experiences while shopping online, with a wide selection of products, personalized offers, and easy transactions. The convenience of online shopping, the absence of physical constraints, and the ability to interact with digital platforms make e-commerce more attractive to consumers. The eCommerce industry is expanding globally, driven by the adoption of smartphones and emerging technologies. For example, the following data shows the e-commerce revenue in the United States.
There are seven primary e-commerce models that businesses can be classified into: B2C, B2B, C2C, D2C, C2B, B2A, and C2A. To support these models, reliable warehouse logistics are crucial. E-commerce warehousing involves storing and managing goods before they are sold online. Effective e-commerce warehousing ensures that products are safely stored and accurately delivered to customers on time. E-commerce warehouses can be of various types, such as private, public, consolidated, bonded, smart, cooperative, and fulfillment centers. All of these types require a substantial supply of suitable pallets. However, purchasing large amounts of pallets can be expensive, and to avoid these expenses, e-commerce warehouses opt for a pooling system. So, the growing e-commerce sector globally tends to drive the demand for plastic pallet pooling services.
Sanitation and quality control issues can hinder the growth of the plastic pallet pooling market
In industries that require high sanitation standards, such as food manufacturing and pharmaceuticals, pallets can pose a major risk. Although pallets do not directly come into contact with the products they carry, they can still contaminate the facilities and products they are used for. Wooden pallets are known to receive maximum scrutiny when it comes to foreign material risk. However, it is important to note that HDPE plastic pallets can also pose a similar risk as they grow older or are exposed to temperature variations in the cold chain. The plastic in such pallets becomes brittle with use and exposure, making it more prone to breakage and splintering.
Pooling programs ensure that each pallet in use adheres to FDA pallet regulations and other requirements. However, customers lose the ability to know the quality and previous shipping history of each pallet. As the pallets belong to a rented pool for other businesses to use, delivered pallets may appear worn and susceptible to damage or excessive wear and tear. Additionally, even though the pallets are cleaned between uses, the previous renter’s shipping intentions may clash with other customers. For example, if the company utilizes the same pallets for carrying pharmaceutical products or harmful chemicals, there may be traces of such chemicals on those pallets. If a customer company utilizes pallets for food transport or other consumer products, this may put their products at risk of cross-contamination. Therefore, some customers prefer to buy their pallets to avoid cross-contamination in their products, which can hinder the growth of the market.
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Brambles Limited is segmented by pallets and container. As a major player in the global supply chain logistics market, Brambles Limited operates in the pallet and container area. Offering pooling solutions for the management of reusable pallets and containers is the company's main line of business. Within this market, Brambles provides services under recognizable brand CHEP. The operating segment in which the company works is CHEP Americas, CHEP EMEA, CHEP Asia-Pacific.
In order to optimize supply chains for a wide range of industries, including retail, fresh produce, fast-moving consumer products, and automotive, the pallet and container segment is essential. Businesses may effectively share and reuse pallets and containers due to Brambles' innovative pooling solutions, which cut waste and supply chain expenses overall.
Euro Pool Group specializes in offering rental management services for pallets. The company offers several products, which include a pallet pooling service. The LPR division of the Euro Pool Group offers outsourced pallet pooling services for FMCG sectors, such as blue chip food and beverage producers.
Top Companies Market Share in Plastic Pallet Industry: (In no particular order of Rank)
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North America accounts for a substantial share of 38.22% in 2022, of the pallet pooling market, due to the increasing number of investments in automated warehouse software in this region. The rising adoption of technologies and software for warehouses increases demand for automated warehouse systems utilized for pallet pooling services. The presence of major manufacturers such as iGPS invested its resources in the automation of warehouses. iGPS introduced a warehouse management system, which is a software program that tracks and optimizes warehouse production. The RFID technology allows managers to log pallets into a software system. The use of automated warehouses, RFID technology, and sensors reduces mistakes and improves product warehouses The rising investment in the automation of warehouses, increases demand for pallet pooling services, as it improves visibility, reduces carbon footprint, real-time, efficient tracking, and optimizes the supply chain. (Source: iGPS)
The current report Scope analyzes Plastic Pallet Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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North America accounts for a substantial share of 38.22% in 2022, of the pallet pooling market, due to the increasing number of investments in automated warehouse software in this region. The rising adoption of technologies and software for warehouses increases demand for automated warehouse systems utilized for pallet pooling services. The presence of major manufacturers such as iGPS invested its resources in the automation of warehouses. iGPS introduced a warehouse management system, which is a software program that tracks and optimizes warehouse production. The RFID technology allows managers to log pallets into a software system. The use of automated warehouses, RFID technology, and sensors reduces mistakes and improves product warehouses The rising investment in the automation of warehouses, increases demand for pallet pooling services, as it improves visibility, reduces carbon footprint, real-time, efficient tracking, and optimizes the supply chain. (Source: iGPS)
Europe accounts for a significant share of 19.76% in 2022 of the market, due to rising spending on the logistic infrastructure, and focus on supply-chain efficiency. Europe spent significantly on logistic services, which resulted in high costs spent on logistic services. According to data published by Fraunhofer, 2020, the logistic services recorded USD 1.26 Trillion in 2020. The spending on logistic services in Europe is 11%-15% of GDP. The high spending on logistic services in Europe results in high costs.
The end-use customer faced challenges in traditional logistics services, as these services are expensive. The Euro Pool Group is designed to outsource pallet management pooling services, which combines My LPR platform or software which reduces the cost incurred during logistic service. The adoption of the My LPR portal and automation in pallet pooling, ensure effective tracking and real-time data and inventory insight to end-use customers such as the FMCG sector. (Source: Euro Pool Group)
Asia Pacific is expected to grow at a CAGR of 6.45% during the forecast period, due to rising expansion of retail and e-commerce sector, and increase in demand for pallet pooling services. According to IDC Financial Insights, 2021, the number of users of e-commerce platforms is USD 222 Million in 2020 and is expected to reach USD 441 million by 2025. The rise in the e-commerce sector increases the online supply of pallet pooling services in this region. For instance, Euro Pool Group introduced MY LPR an online portal, which is a computerized accessible remote management system. This My LPR portal tracks orders efficiently and optimizes supply chains
Latin America accounts for a considerable share of 6.88% of the market, due to rising technological advancement in pilot projects. In May 2023, CHEP, a division of Brambles Limited launched pallet tracking system in its pooling network. The company launched pilot project which tracks the pallet pooling through IoT devices to minimize loss of pallets and ensures reduction in costs. This IoT based pallet pooling projects increases supply-chain efficiency, security, and effective control on tracking of pallets. The investment in pilot projects for pallet pooling, increases its demand in Latin America.
The Middle East and Africa account for a minimal share of 4.02% of the market due to the rising launch of pallet pooling services in this region. In June 2020, the CHEP, part of Brambles Limited expanded its Middle East operations into Jordan, through the launch of managed pallet pooling services for Fine Hygienic Holding. The launch of managed pallet pooling services for tissue manufacturer in this region, expand its presence in the Middle East and Africa.
Global Plastic Pallet Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Plastic Pallet Industry growth. Plastic Pallet market has been segmented with the help of its Type, Application End Use, and others. Plastic Pallet market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
In 2018, the Pallet Pooling revenue (USD Million) was USD 619.30 Million and it expected to reach at USD 1,022.41 Million in 2030. Based on the type, the pallet pooling segment accounted for a major market share of 82.31% in 2022 and is expected to grow at the highest CAGR of 5.30% during the forecast period. Plastic pallet pooling is often favoured for its cost efficiency. Plastic pallets are durable and have a longer lifespan compared to traditional wooden pallets. This durability results in lower replacement costs over time. Plastic pallets are designed to be reusable, and they can withstand multiple trips across the supply chain without significant wear and tear. This reusability is a key factor in the popularity of plastic pallet pooling, as it aligns with sustainable and cost-effective logistics practices. Plastic pallets are resistant to moisture, pests, and contaminants. This makes them suitable for industries with strict hygiene and compliance requirements, such as pharmaceuticals, food and beverages, and healthcare. Pallet pooling services that offer plastic pallets can cater to these industries, contributing to their market share. • Pallet pooling services, particularly those involving plastic pallets, contribute to supply chain optimization. They help in reducing transit and handling costs, minimizing product damage, and improving overall logistics efficiency. Thus, the pallet pooling segment is expected to continue to grow at a significant rate during the forecast period.
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In 2018, the Direct Plastic Pallet Pooling revenue (USD Million) was USD 461.68 Million and it expected to reach at USD 810.55 Million in 2030. Based on the distribution channel, the direct segment accounted for a major market share of 62.65% in 2022 and is expected to grow at the highest CAGR of 5.84% during the forecast period. In a direct distribution channel, plastic pallet pooling service providers have direct control and oversight of their operations. This allows them to ensure the quality and condition of the plastic pallets throughout the pooling process. Direct management can lead to better coordination and responsiveness to customer needs. Direct distribution channels enable plastic pallet pooling service providers to tailor their services to the specific needs and requirements of customers. This flexibility in service offerings, including customization of pallets based on industry standards or client preferences, can contribute to customer satisfaction and loyalty. Direct channels facilitate efficient communication between the plastic pallet pooling service provider and the end-users or customers. This direct communication allows for a quick response to inquiries, concerns, and changes in demand, fostering stronger relationships with clients. Direct distribution channels often lead to streamlined logistics and supply chain processes. The service provider can manage the entire pallet pooling process, from production to maintenance to distribution, ensuring a seamless flow of pallets within the supply chain. Operating through a direct distribution channel can enhance brand visibility and build trust with customers. Direct interaction with clients allows service providers to showcase their capabilities, reliability, and commitment to quality, establishing a positive brand image in the market.
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Fast-moving consumer goods accounted for a market share of 38.96% in 2022, and are estimated to grow with the CAGR of 4.25% during the forecast period. Pallets are being used in the FMCG industry for various applications in warehouse, logistics, and supply chain management. Integrating environmental sustainability into their strategies is an increasingly important concern for FMCG companies. This requires them to rethink their manufacturing processes without compromising the quality of their production and distribution. One solution that can help tackle this challenge is pallet pooling. By adopting pallet pooling, the FMCG industry can enhance and optimize supply chain performance while adopting a more environmentally conscious approach. Pallet pooling is a solution that combines operational efficiency with environmental responsibility, making it a beneficial option for the FMCG industry to remain competitive while respecting environmental requirements.
Plastic pallet pooling services are used in the pharmaceutical sector. The plastic pallet pooling in the pharmaceutical sector assists in removing potential product contamination. The Intelligent Global Pooling System (iGPS) developed electronic tracking technology embedded in plastic pallets. This tracking technology developed by the company ensure safety and prevent contamination of pharmaceutical product. The pallet pooling program offered by the company assists end-use customer, which immediately upgrades the hygiene of the pharmaceutical supply chain. A pallet pooling program that offers a high-quality, technologically capable pallet makes it possible to continue improving your product transportation standards far into the future.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Plastic Pallet Market is witnessing significant growth in the near future.
In 2023, the Pallet Pooling segment accounted for noticeable share of global Plastic Pallet Market and is projected to experience significant growth in the near future.
The Direct segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Brambles Limited , LOSCAM and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
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Type | Pallet Pooling, Pallet Rental |
Application | Direct, Indirect |
End Use | FMCG, Pharmaceuticals, Electronics, Chemicals, Others |
List of Competitors | Brambles Limited, Euro Pool Group, LOSCAM, Schoeller Allibert, Others |
This chapter will help you gain GLOBAL Market Analysis of Plastic Pallet. Further deep in this chapter, you will be able to review Global Plastic Pallet Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End Use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Plastic Pallet market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Pallet Pooling have a significant impact on Plastic Pallet market? |
What are the key factors affecting the Pallet Pooling and Pallet Rental of Plastic Pallet Market? |
What is the CAGR/Growth Rate of Direct during the forecast period? |
By type, which segment accounted for largest share of the global Plastic Pallet Market? |
Which region is expected to dominate the global Plastic Pallet Market within the forecast period? |
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