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Pallet Pooling Market Are Slated To Increase At A Steady 6.1% CAGR During Forecast Period 2022-2032
The global pallet pooling market is predicted to grow at a CAGR of 6.1% over the assessment period, reaching a valuation of more than US$ 12.9 Bn by 2032.
Sales in the pallet pooling market are predicted to increase develop on the back of rising demand for reducing logistic costs. Pavement management solutions carry backlinks to gather these pallets for repurposing by other manufacturers across the supply chain. The pallet interface eliminates the need for managing pallet distribution, reducing the complexity of pallet purchase, management, and retrieval.
Technological advancements are projected to create growth prospects for the pallet pooling market players. Various pallet pooling companies are focusing on introducing sophisticated pallets. For instance, they are launching pallets covered in radio frequency identification (RFID) tags. Due to numerous advantages, such as effective supply chain monitoring, this concept is rapidly gaining traction.
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In the fast-moving consumer goods, food & beverage, and pharmaceutical industries, pallet pooling is very popular. Pooling pallet manufacturers continue to use wood and plastic as their principal materials. Demand for wood pallets is expected to remain high in comparison with other materials such as steel and composites.
In the forthcoming years, disposable plastic pallet pooling, which is appreciated for its durability and low cost, is predicted to gain a substantial share in the global pallet pooling market. The global pallet pooling market will benefit from rapid industrialization and increasing demand from the pharmaceutical sector.
“The introduction of pallets with RFID tags, along with pallet pooling rental services offered by market players will augment the growth in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- By structural design, sales in the block pallet pooling segment are slated to increase at a 6.7% CAGR over the forecast period.
- Based on material, the wooden pallets segment will account for 57% of the total market share over the assessment period.
- In terms of end-use industry, sales in the FMCG segment will command more than 33% of the total market share in 2022.
- The U.S. pallet pooling market will offer an incremental opportunity of US$ 1.3 Bn over the forecast period.
- Total sales of pallet pooling services in China will reach a valuation of US$ 214.6 Bn by 2032.
- Demand for pallet pooling services in Germany is poised to grow at a 3.6% CAGR over the forecast period.
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Competition Landscape
Pallet pooling service providers are focusing on business expansion by opening new distribution centers and sales offices. Many manufacturers are creating strong networks with dealers and distributors to expand their businesses across multiple regions.
Some of the key pallet pooling manufacturers included in the report are Brambles Limited, Schoeller Arca, Faber Halbertsma, Euro Pool Group, Loscam, LPR, Contraload NV, Zentek Pool System GmbH, PPS Midlands Limited, Demes Logistics Gmbh & Co. KG.
More Insights into the Pallet Pooling Market Report
In its latest report, FMI offers an unbiased analysis of the global pallet pooling market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of structural design (block, stringer and customized), materials (wood, composite, plastic, steel and other metals), and end-use industry (FMCG, food & beverage, pharmaceuticals, electronics, chemicals and others) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.
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