REPORT OVERVIEW
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The global pallet container market size was USD 974.3 million in 2022. As per our research, the market is expected to reach USD 1183.8 million by 2028, exhibiting a CAGR of 3.3% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the pallet container market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Pallet boxes are wooden or metal boxes which are used for storage or delivering heavy cargo from one place to another. Gaylord boxes are another name for pallet boxes. These assist in lowering the overall cost of transportation and shipping. These boxes are rigid which can hold large amounts of products without causing any damage as well as can make enough room for more. Pallet containers can ship flat-pack storage and unpacked products with care. Moreover, pallet boxes are in demand due to their damage free storage and delivery of larger boxes when unboxed.
There are some boxes being made of plastic, due to light weight and handling convenience. The pallet containers are used in the agriculture industry as well as other industries due to its manageable nature. Pallet containers are sometimes made up of collapsible material due to the incidents specifically designed for the container to subside. These types of containers are used so that they can have enough space for more products, are overpriced but are long-lasting and can be available as and when needed.
COVID-19 IMPACT - COVID-19 Drove The Market Growth As A Result Of Continuous Transfer Of Essential Food
Pandemic had affected every industry due to the lockdown that was imposed to curb the virus and spread of the disease. Travel and transportation was also restricted and had several limitations. Among all these restrictions, the transportation of food & beverages was also affected but not much as these were counted into essential items. The pallet containers market had a positive impact as the containers were in continuous use for transferring these items.
LATEST TRENDS
New entrants look forward to promoting new technologies of the pallet containers market. Companies are also coming up with innovative ideas of modification of the containers and expand its capacity to store large quantities of products. For example, The Craemer Group manufactured a developed product CB3 high pallet box which can hold up to 1,000 liters in 2021.
SEGMENTATION
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By Type
Based on type the global market can be classified into plastic, metal, and corrugated paper.
By Application
Based on application the global market can be divided into automotive industry, retail industry, and others.
DRIVING FACTORS
"Rise In Demand Of The Plastic Containers To Propel The Market Growth"
There is an increase in the use of plastic pallet containers as it is portable and long lasting for holding enormous amounts of packages of fresh products. These containers are mostly used in the agriculture industry during the period after harvesting, storage and transfer of freshly produced fruits and vegetables, and food grains from warehouse to market. As compared to wooden containers which are on a heavier side, plastic containers are light weight which allows them to be in demand for agricultural and many other industries. Plastic containers keep the food fresh as they can be packed perfectly, whereas the conventional wooden containers are opened and have enough room for fresh food to dry out. Manufacturers also use plastic containers for the packaging for processed food.
"Huge Storage Capacities and Ease of Transportation to Fuel Market Growth "
Plastic containers are easy to clean which makes them appropriate for keeping and transferring any type of chemical and other products from one place to another. The use of pallet boxes can lower the overall cost of shipping of various goods. Manufacturers can finally reduce the cost and complexity of transporting a variety of products by packaging various components. Pallet boxes can create enough space for the goods to be stored and can be commuted to other places without acquiring more space.
These items can be folded when not in use. These solutions are excellent for shipping heavy, unused products and increase the pallet container market growth.
RESTRAINING FACTOR
"High Cost Of Lumber To Have A Negative Impact On The Market"
As lumbers are used in the production of pallet containers, the demand for containers is being affected negatively as the price of lumbers are on rise. The high cost associated with lumber makes the pallet containers an expensive good. The cutting of lumber is also negatively affecting due to the changes in the weather which in turn is affecting the supply and demand of pallet containers. Places where lumber are harvested have more time of winters and snowfall which makes the lumber damp and leads to hard time in logging. This delays the supply of lumber for the production of containers.
REGIONAL INSIGHTS
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Asia Pacific is set to dominate the pallet container market worldwide due to the rise and use of pallet packaging and also for the storage and transportation of the goods. The demand for a variety of products which are used only once also contributes in making the region to lead the market. The market is expected to rise due to factors such as the packaging and automotive sector’s rapid development as well as the rising demand for efficient and modern pallets. These factors are likely to contribute in the expansion of pallet container market share.
KEY INDUSTRY PLAYERS
Due to the rise in demand of pallet containers, the focus of key players is to expand the production of these containers. To satisfy the expanding pallet box industry, the major manufacturers are broadening their product offerings.
LIST OF MARKET PLAYERS PROFILED
- AUER Packaging (Germany)
- Brambles (Australia)
- CABKA Group (Germany)
- Olitec Packaging Solutions (Denmark)
- Schoeller Allibert (Netherlands)
- 1 LOGISTICS ZURALSKI (Poland)
- Newgen Speciality Plastics (India)
REPORT COVERAGE
The report includes a whole study of the pallet container, its weaknesses, strong points, its positive and negative effects and developments in the market. The effect of COVID-19 on the pallet container market, which was positive and helped in rising the pallet container market size. Investigating many different market types and prospective uses that might affect its future course. The research provides a comprehensive overview of the market’s elements and identifies prospective growth opportunities by taking into consideration the recent trends and the historical turning points.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 974.3 Million in 2021 |
Market Size Value By |
US$ 1183.8 Million by 2028 |
Growth Rate |
CAGR of 3.3% from 2021 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global pallet container market expected to touch by 2028?
The global pallet container market is expected to reach USD 1183.8 million by 2028.
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What CAGR is the pallet container market expected to exhibit by 2028?
The pallet container market is expected to exhibit a CAGR of 3.3% by 2028.
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Which are the driving factors of the Pallet Container market?
Rise in the demand for plastic containers and increase in the demand for product transportation are the driving factors of the Pallet Container market.
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Which are the key players functioning in the Pallet Container market?
AUER Packaging, Brambles, CABKA Group, Olitec Packaging Solutions, Schoeller Allibert, 1LOGISTICS ZURALSKI, Newgen Speciality Plastics are some of the major key players functioning in the Pallet Container market.
