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The corrugated pallets market size is forecast to increase by USD 452.37 million, at a CAGR of 5.87% between 2023 and 2028. The growth rate of the market depends on several factors such as increasing demand for sustainable packaging solutions, the growing manufacturing industry globally, and the rise in building and construction activities globally. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
In the Asia-Pacific (APAC) region, the escalating growth of the retail and e-commerce sectors is fueling the demand for corrugated pallets, driven by the need for efficient and cost-effective packaging solutions for the transportation of goods in the expanding online shopping landscape. Brambl es Ltd. is a key player in this market, offering corrugated pallets that embody circularity, aiming to eliminate waste and empower customers to embark on their own circular journeys. Additionally, Cascades Inc. contributes to the demand for corrugated pallets by providing versatile solutions suitable for various purposes, including e-commerce, shipping, transportation, and more, aligning with the diverse needs of the evolving market in the APAC region.
Market Forecast 2024-2028
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Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The market is significantly influenced by the rising need for environmentally friendly packaging options. Growing environmental concerns and customer awareness have made sustainability a critical factor for businesses in a variety of industries. Compared with conventional wooden or plastic pallets, corrugated pallets are more environmentally friendly because they are composed of recyclable and recycled materials. They provide several long-term advantages, such as lowering carbon emissions, cutting down on waste production, and advancing the circular economy. Because corrugated pallets are lightweight, shipping expenses can be lowered, and more effective logistics can be achieved.
Moreover, the expanding trend of online shopping has resulted in a major increase in demand for corrugated pallets, particularly in the e-commerce business. Because corrugated pallets can survive rigorous handling during shipment and shield products from harm, they are a great choice for e-commerce. They are also easily customizable to fit the unique needs of various products and sectors. Thus, the increasing demand for sustainable packaging solutions will drive the growth of the market during the forecast period.
The market is experiencing a growing demand for sustainable packaging solutions. The need for more environmentally friendly packaging alternatives and growing worries about the impact on the environment are the main drivers of this. Corrugated pallets are an example of a sustainable packaging solution that is comprised of recyclable and renewable materials. Their purpose is to decrease waste, lower carbon emissions, and encourage recycling. Because of their durability and portability, these pallets are a desirable option for a variety of sectors.
Additionally, companies are realizing the financial and reputational advantages of adopting sustainable packaging solutions. Because they are lightweight, corrugated pallets provide several benefits, including lower shipping costs, more effective storage, and better product visibility. A company's brand image can be improved, and eco-conscious customers can be drawn in by implementing sustainable packaging options. Thus, the growing demand for lightweight and durable pallets will fuel the growth of the market during the forecast period.
The market faces a significant challenge due to the implementation of stringent regulations on volatile organic compounds (VOCs). VOCs, characterized by high vapor pressure at room temperature, pose environmental and health risks. Given that adhesives, coatings, and other materials used in the corrugated pallets industry may contain VOCs, their release during manufacturing, transportation, and disposal is a concern. Governments worldwide are responding with regulations to limit VOC emissions, posing challenges for manufacturers. Compliance involves substantial costs for new machinery and technologies, impacting the supply chain's complexity.
Moreover, adapting manufacturing procedures for VOC reduction is time-consuming, affecting product performance and necessitating a delicate balance. Global variations in regulations add complexity, requiring manufacturers to stay abreast of diverse demands across markets. These challenges collectively hinder the growth of the market during the forecast period.
The market share growth by the greater than 3 walls segment will be significant during the forecast period. The growing need for effective and environmentally friendly packaging options is the main factor propelling the market. The greater than 3 segment is one of the important ones in this market. Corrugated pallets with three walls, which give the packaged items more support and stability, are referred to in the greater than 3 section
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The greater than 3 walls segment was the largest and was valued at USD 563.00 million in 2018. The demand for packaged goods is rising due to the region's growing industrialization and rising disposable incomes, which is increasing the need for effective and affordable pallet solutions. To meet the various needs of various sectors, major players in the market, such as suppliers and manufacturers, are concentrating on product innovation and customization. To make sure that greater than 3 corrugated pallets can handle harsh handling and greater loads, they are investing in research and development to increase their strength and load-bearing capacity. These pallets are finding increasing applications across various industries, and their lightweight yet sturdy nature makes them an attractive choice for companies looking to optimize their logistics and reduce their environmental footprint. Thus, factors such as sustainability, cost-effectiveness, and customization will drive the growth of the greater than 3 segment in the market during the forecast period.
Based on the end-user, the market has been segmented into food and beverages, chemical and pharma, agriculture, wholesalers, and others. The food and beverages?segment will account for the largest share of this segment. Some key factors driving the demand for corrugated pallets in this segment include the following: Food safety and hygiene: Because corrugated pallets are recyclable and do not contain bacteria or pests, they are thought to be more hygienic than standard hardwood pallets. Because of this, they are perfect for keeping food and drinks safe and of high quality while being transported. Compared with wooden pallets, they have a less carbon footprint and are readily recyclable after their useful life is up. Compliance with regulations: Strict guidelines for product and transportation safety apply to the food and beverage sector. The increasing demand for safe and sustainable packaging solutions, along with cost-effectiveness and customization options, will drive the growth of the food and beverage segment in the market during the forecast period.
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APAC is estimated to contribute 40% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The Asia-Pacific (APAC) market is anticipated to rise significantly. As an alternative to wooden and plastic pallets, corrugated pallets, commonly referred to as paper pallets, are constructed from corrugated fiberboard materials. Due to a number of causes, corrugated pallet demand is rising in the APAC area. The growing use of environmentally friendly packaging options is one of the primary forces. Because they are readily disposed of without harming the environment and are 100% recyclable, corrugated pallets are said to be more environmentally friendly. The need for corrugated pallets is being driven by the expansion of the retail and e-commerce industries in the APAC region. Corrugated pallet use has expanded as a result of the growth in online shopping and the demand for effective and affordable packaging solutions for the transportation of goods.
Additionally, laws encouraging the use of environmentally friendly packaging materials and limiting the use of wooden pallets are driving the regional corrugated pallet market's expansion. Thus, the growth of e-commerce and retail sectors and government regulations promoting the use of eco-friendly materials will drive the growth of the regional corrugated pallets market during the forecast period.
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.
Craemer GmbH - The company offers corrugated pallets for automated and closed-loop operations, which is durable, hygienic, sturdy, and cost-effective solution.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including Brambles Ltd., Cascades Inc., Craemer GmbH, DS Smith Plc, Falkenhahn AG, Huhtamaki Oyj, Kamps Inc., KraftPal, Menasha Corp., Millwood Inc., Mondi Plc, PGS Group, Rehrig Pacific Co., Schoeller Allibert, Smurfit Kappa, Sonoco Products Co., Spanco Storage Systems, and UFP Industries Inc.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Corrugated Pallets Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.87% |
Market Growth 2024-2028 |
USD 452.37 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.9 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Brambles Ltd., Cascades Inc., Craemer GmbH, DS Smith Plc, Falkenhahn AG, Huhtamaki Oyj, Kamps Inc., KraftPal, Menasha Corp., Millwood Inc., Mondi Plc, PGS Group, Rehrig Pacific Co., Schoeller Allibert, Smurfit Kappa, Sonoco Products Co., Spanco Storage Systems, and UFP Industries Inc. |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market 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. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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