The global sales of display pallets are estimated to be worth USD 5.3 billion in 2021 and are anticipated to reach a value of USD 8.5 billion by 2031. Sales are projected to rise at a CAGR of 4.8% over the forecast period between 2021 and 2031. The revenue generated by display pallets in 2020 was USD 5.1 billion.
Major driving forces include the growing need for effective and attractive retail solutions, especially in supermarket chains and big retail chains where the form of presentation determines the level of sales. With growing usages of point-of-sale displays that even act like shipping platforms, the demand goes up for display pallets because of their logistic and merchandising conveniences.
Innovations in lightweight and durable pallet materials improve handling and transportation efficiency. Furthermore, the concern for sustainability factors in the usage of pallets made of eco-friendly material and recyclable ones. Increasing promotional marketing and seasonal displays increase the demand for multi-pallet displays. The growth of the retail market in various regions and increased e-commerce further support the growth of the market.
Global Display Pallets Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 5.1 billion |
| Estimated Size, 2021 | USD 5.3 billion |
| Projected Size, 2031 | USD 8.5 billion |
| Value-based CAGR (2021 to 2031) | 4.8% |
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Display pallets are an exceptional kind of product that is majorly used in trade promotions. A display pallets consist of multiple quantities of one or more products. Custom pallet does not need special set-up or unpacking of product as it offers a ready-to-sell merchandising option.
These display pallets are useful for placing all products in one location. Display pallets are becoming increasingly common in the retail sector. The display pallets allow the brands to have a fair level of product differentiation in supermarkets and other stores.
Display pallets come in a wide range of styles and displays which offers attractive, catchy features coupled with supports for the retail store product displays. Display pallets is a popular tool for promoting and branding a specific product, any kind of offer, discounts in shopping malls, hypermarkets, departmental stores etc. Moreover, manufacturers are also focusing on improving durability and providing cost-effective packaging options for the product which is likely to fuel the demand for display pallets.
To improve the better material capabilities, aesthetic design, and product durability the manufacturers are increasing their focus which is driving the growth of the display pallets market. Increasing usage of in-store marketing practices coupled with increasing demand for innovative packaging solutions and product display methods is likely to further expand the growth for display pallets market.
Principal Consultant
The display pallets are considered as one of the influential communication channels and points of attraction that allows the retail sector to attract and reach customers quickly and effectively. The astonishing growth of the retail sector is creating an opportunity for the demand for display pallets.
Nowadays, product suppliers and top brands are spending more on online advertisement and broadcast for advertising the product which is expected to hinder the growth of the display pallets market in the future. The brands in cosmetics & personal care, pharmaceuticals, printing & stationery industry targeting a large audience through online advertisements. Display pallets is a source of advertisement of product but the adoption of online advertising is restraining the growth of the display pallets market.
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Global Players
Asian Players
The key players adopt various strategies such as product launch, merger & acquisition, innovation and others to survive the competition in the market.
In April 2021, a company named ORBIS Corporation has presented at ProMatDX its Odyssey rackable pallet, which has been added to its suite of reusable plastic pallet offerings.
Over the last decade, there is substantial growth in the display pallets market in India. Increasing demand for more attractive retail store product displays is attracting consumers more. Application-specific display pallets are expected to reflect favourably on the market during the forecast period.
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Display Pallets Market
