Research Reports
Pallet Pooling Market to Cross US$ 11 Bn Mark by 2029 – FMI
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The pallet pooling market is projected to exceed $11 billion by 2029, driven by demand in the FMCG sector and innovations like RFID-tagged pallets.
According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029. Wood and plastic will remain the material of choice for manufacturing pallet pooling. Pallet pooling derived from wood continues to capture a higher demand share as compared to other materials such as steel and composites.
Further, the sales of wood pallet pooling will surpass the US$ 6 Bn mark during the latter half of the forecast period. Preferred for its durability and cost efficiency, disposable plastic pallet pooling is likely to witness notable upsurge in its revenue share in the global pallet pooling market in the near future.
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Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time. Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.
“In the pallet pooling market, flexible payment profiles allow end consumers to pay rent monthly or quarterly at fixed rental rates throughout the term of the agreement, and customizations can be made in rental agreement terms to suit the period of budget allocation and income patterns.”
Wood and Plastic Market – How Growth will Unfold
As warehouses are an integral aspect in the fast-moving consumer goods (FMCG) industry, the adoption of pallet pooling in this end-use industry will remain prominent over the next decade. In 2019, pallet pooling worth US$ 2.2 Bn was consumed by the FMCG industry.
Players in the pallet pooling are also dedicating a significant slice of their investments in the food & beverage and pharmaceutical sectors. The usage of pallet pooling in both these industries is expected to capture nearly half of overall demand.
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Key Takeaways of Pallet Pooling Market Study
Pallet Pooling Market: Competitive Landscape
The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe. Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam are considered to be leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.
Focus on Technological Advancements in Pallet Pooling
Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.
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Find More Insights on Pallet Pooling Market
The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.
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The main topic is the growth and future prospects of the pallet pooling market, projected to exceed $11 billion by 2029.
Wood and plastic are the primary materials used for pallet pooling, with wood capturing a higher demand share.
The FMCG, food & beverage, and pharmaceutical sectors are major users of pallet pooling.
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