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The global pallet market reached a value of US$ 57.6 Billion in 2021.
The expanding e-commerce sector is propelling the adoption of pallets in numerous logistics and warehousing activities, thereby representing one of the key factors driving the global pallet market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and supply chain disruptions of pallets.
Based on the type, the global pallet market can be segregated into wood, plastic, metal, and corrugated paper. Currently, wood holds the majority of the total market share.
Based on the application, the global pallet market has been bifurcated into food and beverages, chemicals and pharmaceuticals, machinery and metal, construction, and others. Among these, the food and beverages sector represents the largest segment.
Based on the structural design, the global pallet market can be categorized into block, stringer, and others. Currently, block exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global pallet market include Brambles Ltd, Rehrig Pacific Company, Schoeller Allibert, LOSCAM, and CABKA Group.
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