Dublin, March 05, 2020 (GLOBE NEWSWIRE) -- The "Corrugated Pallets Market by Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global corrugated pallets market size was valued at $1,062 million in 2018 and is anticipated to reach $1,481.9 million by 2026, with a CAGR of 4.4% during the forecast period. The corrugated pallets market exhibits an incremental revenue opportunity of $419.9 million from 2018 to 2026.
The global corrugated pallets market is expected to witness rapid growth in terms of revenue over the next 10 year. The rapid growth in revenue of corrugated pallets is mainly attributed to its advancement in engineering and use in building more strong packaging alternative. Major end users such as food & beverages processing companies and chemical & pharma companies are actively investing in more advanced and sustainable packaging solutions.
The growth in export-oriented market for these stakeholders and increased expenditure on product distribution have created a need for more cost-effective and light-weight packaging solutions. The corrugated packaging materials offer these benefits to end users and are much lighter than their alternative (wood, polymer, and metal). In addition, the corrugated pallets are OSHA compliant due to their light weight and also do not require nails, staples, and splinter for assembly.
The corrugated pallets are made of double or 5+ walls corrugated boards. Light weight nature of corrugated pallets helps retailer to minimize the shipping cost especially in airfreights. The diversified presence of end user of corrugated pallets had initiated a need to product differentiation. The corrugated pallets faces major downside in terms of adoption as they degrade with contact to moisture. This makes them unsuitable for use in various transportation methods.
The corrugated pallets market is segmented on the basis of product type, end user, and region. Based on the product type, the corrugated pallets market is categorized into < 3 walls, 3-5 Walls, and 5+ Walls. The < 3 walls pallet segment was valued at $425.7 million in 2019, and is expected to grow with a CAGR of 4.5% to reach $579.2 Mn by 2026 in overall corrugated pallets market share. The 5+ walls pallet segment would be the fastest growing segment with a CAGR of 4.1% during the forecast period.
Based on end user, the corrugated pallets market is segmented into food & beverages, chemical & pharma, agriculture, metal & machinery, wholesalers, and others. The food & beverages end user segment domain corrugated pallets market share and was valued at $229.1 Mn in 2019 and is expected to grow with a CAGR of 2.5% (2019-2026) to reach $272.9 Mn by 2026. The wholesaler end user segment is expected to be the fastest growing segment with a CAGR of 6.1% during the forecast period. Elimination of heat treatment unlike other material make corrugated pallets compliant to ISPM-15. Hence, these pallets are gaining popularity among food & beverages and chemical & pharmaceutical end users.
Geographically, the global market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa). Countries such as China and India would emerge as one of the leading consumers for corrugated pallets, owing to an increased penetration of e-commerce retailing that requires light weight and cost-effective packaging materials.
Key Findings
Topics Covered
Chapter 1: Introduction
Chapter 2: Executive Summary
2.1. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Parent Market Overview: Pallets Market (2018)
3.3. Key Findings
3.3.1. Top Investment Pockets
3.4. Value Chain Analysis
3.5. Porter's Five Forces Analysis
3.5.1. Lower Bargaining Power of Suppliers
3.5.2. High Bargaining Power of Buyers
3.5.3. Moderate Threat of Substitution
3.5.4. Moderate Threat of New Entrants
3.5.5. Moderate Bargaining Power of Suppliers
3.6. Market Dynamics
3.6.1. Drivers
3.6.1.1. Rise in Building & Construction Activities in Asia-Pacific
3.6.1.2. Growing Food & Beverage Industry
3.6.1.3. Increase in International Trade
3.6.2. Restraints
3.6.2.1. Stringent Regulation on Volatile Organic Compounds
3.6.2.2. Regulatory Norms on Industrial Packaging for Food Contact and Pharmaceutical Products
3.6.3. Opportunity
3.6.3.1. Opportunities in Sustainable Packaging
3.6.3.2. Growth in E-Commerce Retailing
Chapter 4: Corrugated Pallets Market, By Product Type
4.1. Overview
4.2. < 3 Walls
4.3. 3-5 Walls
4.4. 5+ Walls
Chapter 5: Corrugated Pallets Market, By End-user
5.1. Overview
5.2. Food and Beverages
5.3. Chemical and Pharma
5.4. Agriculture
5.5. Metal and Machinery
5.6. Wholesalers
5.7. Others
Chapter 6: Corrugated Pallets Market By Region
6.1. Overview
6.2. North America
6.3. Europe
6.4. Asia-Pacific
6.5. LAMEA
Chapter 7: Competition Landscape
Chapter 8: Company Profiles
8.1. DS Smith
8.2. Smurfit Kappa
8.3. Kraftpal Technologies
8.4. Kamps Pallets
8.5. Milwood
8.6. PGS Group
8.7. Conitex Sonoco
8.8. Spanco Enterprises
8.9. Brambles Limited
For more information about this report visit https://www.researchandmarkets.com/r/bzoxu
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