According to the Acumen Research, “The global Plastic Pallets Market Size is projected to reach USD 6,703 million by 2026, growing with a CAGR between 4% from 2020 to 2027”. The market report provides an analysis of the global Plastic Pallets Market for the period 2016-2026, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
The advantages associated with the plastic pallets such as exempted from ISPM – 15 regulations, lightweight, environmentally friendly, space-saving features, highly durable with long service lifespan, safe to handle, hygienic and easy cleaning, dimensionally stable, resistant to most weather/environmental conditions, a perfect branding tool known for their attractive look and design, easy to access and handle with a forklift, and availability in various design options including simple & complex. The aforementioned entities are supporting the major growth of plastic pallets in industries food and beverages, pharmaceutical and chemical. For instance, Greystone Logistics, Inc., a “Green” company that designs, manufactures and markets high-quality 100% recycled plastic pallets. The company has signed a US$ 6.8 million purchase order in 2019 with a national food and agribusiness company for the manufacture and delivery of plastic pallets during the next 12 months.
Asia Pacific is projected to account for major CAGR of the global plastic pallets market throughout the forecast period. The ongoing industrialization and rising investment by global players in major economies are contributing to the regional market value. The ongoing infrastructural development in the developing countries of the region is further propelling the regional market value. For instance, According to The European Packaging and Film Association (PAFA), on an average there is around 3% spoilage of food between harvest and table in the developed world. Whereas, developing countries where plastic pallets, crates, trays, film, and bags are used frequently, the spoilage is around 50%. Furthermore, the benefits associated with plastic pallets such as durability, reusability without breakage, sleek, light and splinter-free, friendly for manual handling are further supporting the regional market growth.
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Some of the leading competitors are OMNIPAK S.R.O., Smart Flow Europe SA, ORBIS Corporation, Bekuplast Gmbh, Meridian Group D.O.O., TBA Plastové Obaly S.R.O., CABKA Group, PURUS PLASTICS GmbH, Plastic Pallets Manufacturers, Paxxal Inc., and others. Plastic pallets companies have announced partnership to expand their position in the plastic pallets industry. Major players are also moving into new regions or advanced technologies for the expansion of market share. For instance, Florida based Reusable Packaging Association (RPA) has honored Kroger Co. and its packaging supplier Polymer Logistics for their excellence in Reusable Packaging in 2019. Kroger has won the award for its 2018 commercial pilot program that demonstrates the cost savings with less environmental impact by using Cleanpal pallets from Polymer Logistics.
Some of the key observations regarding plastic pallets industry include:
- In 2020, Plasgad Plastic Products ACS Ltd, a leader in developing, manufacturing and marketing reusable plastic packaging, storage, and transport solutions. The company has introduced PG1090, a reusable plastic logistics pallet offering racking capability up to 3,300 lbs with the customization for any rack system. As well as, according to the user need or demand, it offers multiple optional metal bars
- In 2020, Premier Handling Solutions, a leading manufacturer of plastic pallets has announced the addition of a wide range of plastic pallets into its current portfolio.
- In 2020, Dolav has introduced new products at Foodex 2020. The new shallow and hygienic pallet box can hold 445 liters and at 580mm tall, Ace 460 is designed to avoid crushing softer or delicate loose products.
- CABKA, a Germany based group recycles post-industrial plastics into pallets and other material-handling products. CABKA North America, the group’s plant near St. Louis, Missouri, runs 24/7 to manufacture about 5,000 pallets per day for the work company has experienced labor shortage to sort the same, it has approached MiR500 robot from Mobile Industrial Robots in March 2020 to minimize dependency on workers along with the improvement in product quality and plant cleanliness and efficiency.
- Cabka’s new nestable and rackable pallet, NestRack Pallet has been selected as the finalist for the Plastic Recycling Award Europe 2020 for the plastic packaging product of the year category on the basis of design innovation with recycled content and design for recycling.
Market Segmentation as below:
Market By Material
Market By Pallet Type
Market By End-use
- Food & Beverages
- Consumer Goods
Market By Geography
(Regional Output, Demand & Forecast by Countries)
- North America (USA and Canada)
- Europe (UK, Germany, France, Spain and Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Middle East and Africa (GCC, South Africa and Rest of MEA).
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