Enjoy complimentary customisation on priority with our Enterprise License!
The Canada pallet market size is estimated to grow at a CAGR of 5.52% between 2022 and 2027. The market size is forecast to increase by USD 1,582.69 million. The growth of the market depends on several factors such as growth in the e-commerce industry in Canada, high applications of pallets in shipping and load-handling sectors, and rising demand for recyclable plastic pallets.
This Canada pallet market report extensively covers market segmentation by product (wood, plastic, corrugated paper, and metal) and end-user (food and beverages, chemicals and pharmaceuticals, retail, transportation and warehousing, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the high applications of pallets in the shipping and load-handling sectors. Pallets are referred to as goods or material or load-handling equipment that offers the required support during their transportation. Pallets are extensively used for various tasks including the storage, loading, and unloading of goods, and have become an important part of supply chain management in different industries.
Moreover, services, automotive, food processing, and electrical and electronics are some of the common end-user industries of the pallets. The increasing demand for material handling coupled with shipping and load-handling across various industries is expected to positively impact the market. Hence, such factors are expected to drive the Canada pallet market during the forecast period.
A key factor shaping the market growth is the rising popularity of pallet tracking technologies. The main factor which determines the material handling and transportation costs in any supply chain is the efficiency of logistics and warehousing operations. Many market players in the manufacturing of pallets are increasingly focusing on customizing the pallets as per the needs of the customers to stay ahead of the competition.
Additionally, several factors such as the use of cost-effective and time-saving material handling equipment are vital for enhancing the operational efficiency of logistics operations. Furthermore, many logistics companies are integrating new and advanced tracking technologies such as radio-frequency identification (RFID), sensors, and tags in pallets in order to monitor the entire supply chain process. Hence, such factors are expected to drive the Canada pallet market growth during the forecast period.
Fluctuating lumber prices and shortage of raw materials are one of the key challenges hindering the Canada pallet market growth. The price volatility of lumber is significantly impacting the market growth in Canada. There is an increase in lumber prices in Canada, especially in June 2023, due to wildfires which have raised concerns about disruptions in the supply chain. This market fluctuation of lumber has become unpredictable and is negatively affecting retailers and consumers alike.
Furthermore, factors such as scarcity in the availability of wood and lumber due to the increased demand for wood products across various industries resulted in competition for timber resources which fuelled the fluctuation of lumber prices in the market. In addition, several environmental regulations and sustainable forest management practices may hamper the supply of lumber. Hence, such factors will hinder the Canada pallet market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Canada Pallet Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alberta Pallet Co. Ltd: The company offers pallets such as custom pallets, recycled pallets, new pallets, heat-treated pallets, and combination pallets.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The wood segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of the wood pallet segment across various industries due to its several advantages such as higher price performance, reliability, and easy availability. Additionally, the main advantage of wood is that it is stiffer and more affordable and can be easily fabricated into different sizes as per the end-users requirement. Composite wood pallet segments are extensively used as it facilitates transportation and storage of goods and they are available in different shapes but are comparatively expensive when compared to other segments.
Get a glance at the market contribution of various segments View the PDF Sample
The wood segment was the largest segment and was valued at USD 4,348.36 million in 2017. There is increasing adoption of the wood pallet segment across production units, distribution centers, and manufacturing units due to their cost-effectiveness. Additionally, this segment is extensively used in several industries including agriculture, food and beverage, pharmaceuticals, manufacturing, and logistics, for storing and transporting goods. Furthermore, wood pallets are mainly utilized for packing, transporting, and delivering food products such as fruits and vegetables, fish and seafood, oil, cheese, and dairy and bakery products. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the Canada pallet market growth during the forecast period.
The Canada pallet market forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Canada Pallet Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.52% |
Market growth 2023-2027 |
USD 1,582.69 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.12 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
204 Pallet and Packaging Inc., Alberta Pallet Co. Ltd., Bluewater Pallet Inc., Canada Pallet Source, Dominion Pallet and Crate Ltd., EASTERN ONTARIO PALLETS LTD., Enviro Pallet Recovery Ltd., Niagara Pallet, Pallet Management Group Inc., Pallet Renew, Paramount Pallet, S and B PALLETS LTD., Trican Packaging Inc., UFP Industries Inc., United Pallets and Crates INC., Universal Pallets, Verbeek Pallet Supply Co. Ltd., Weston Forest, Windsor Pallet Ltd., and Woodbridge Pallet |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.