The global sales of pallet shippers market are estimated to be worth USD 6.6 billion in 2021 and are anticipated to reach a value of USD 10.7 billion by 2031. Sales are projected to rise at a CAGR of 5.0% over the forecast period between 2021 and 2031. The revenue generated by pallet shippers market in 2020 was USD 6.3 billion.
In particular, the demand for efficient and safe logistics has driven the pallet shippers market in recent years as a result of globalization through supply chains and e-commerce. An escalation in cross-border trade and the quest for standardized durable shipping solutions spur demands for the more reliable pallet shipper, which guarantees the safe and effective transportation of goods.
New innovations in design and material, such as lightweight and reusable pallets, address the cost and environmental concerns. In addition, growing interest in the development of an effective supply chain and reduction of shipment-related costs create potential market development. Growing retail and manufacturing industries across the world boost demand for multi-pallet shipment arrangements.
Global Pallet Shippers Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 6.3 billion |
| Estimated Size, 2021 | USD 6.6 billion |
| Projected Size, 2031 | USD 10.7 billion |
| Value-based CAGR (2021 to 2031) | 5.0% |
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Plastic pallet shippers are far more long-lasting and easier to maintain than wood pallets, and this latter advantage is a huge catalyst for food and pharmaceutical manufacturing companies to choose a plastic shipping platform. Plastic pallet shippers are an excellent food-grade pallet that can assist food producers in meeting, if not exceeding, Food Safety Modernization Act standards for the sanitary shipping of food and feed.
Plastic pallets that are reusable and recyclable have several advantages over woodblock pallets. They are lighter, more long-lasting, have more coherent dimensions, and are more hygienic. These advantages will contribute to increasing sales of pallet shippers market over the forecasted period.
Pallet shippers are widely used in North American countries such as the United States and Canada. Pallet shippers are widely used in the pharmaceutical and life science industry sectors, which both require temperature-sensitive commodities to be transported securely around the world. Generally, when it comes to shipping medications like vaccines and other biologics derived from biological cells, manufacturers' timeframes and temperature markers are critical.
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Europe is one of the key markets for pallet shippers. The European pallet shippers market is to witness a notable growth rate during the assessment period 2021 to 2031.
The increased emphasis on sustainable packaging and pallets is also expected to drive market growth. The majority of pallets in use today are made of wood, and they are one of the largest contributors to municipal solid waste (MSW). Furthermore, the waste wooden pallets are high in energy, which is typically lost during MSW disposal. As a result, manufacturers are now implementing reuse techniques to reduce wood waste in pallet shippers’ industrial production.
For instance, businesses such as Brambles, Ltd. and CABKA Group GmbH in Germany, are working toward the manufacturing of completely recyclable or 100% reusable wooden and plastic pallet shippers.
Some key manufacturers functioning in business in Pallet Shippers market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Pallet Shippers Market
