Global Wood Pallet Market Forecast, Trend Analysis And Competition Tracking - Market insights 2015 to 2031

Wood Pallet Market Introduction:

The global Wood Pallet market was valued at US$ 64.2 Bn in 2020 and is projected to register а САGR of 5.1% by 2031.

A pallet is a flat object made of wood, plastic, or metal that can be used for load-bearing. Pallets are often built from the same material as the freight container to reduce manufacturing costs and weight.

They can be designed to carry heavy loads, but more often they are used to support lightweight goods such as produce and cartons of cigarettes. Wood pallets are used for the transport of goods in bulk. They are fairly common because they are durable, inexpensive, and easy to produce. Pallets of wood are often reused many times over before they can be recycled or composted.

Wood pallets are a traditional product that is often used by warehousing and logistics companies to distribute products. These products are available in several different sizes and can be assembled to fit the current need. Most wood pallets weigh about 220 lbs and some as much as 600 lbs. They are sturdy, durable, and easy to assemble. Wood pallets also provide a more economical option for shipping products around the world.

Wood pallets are used to move goods on trucks, trains, or conveyors. Demand for wood pallets has increased in recent years due to the increased use of wood pallets in different applications. For example, some companies use recycled paper boxes as containers for their products and the supply chain industry has shifted to wooden pallets which have a lower carbon footprint than plastic containers.

Rising demand for Wood Pallet in several end-use industries

Increasing demand for wood pallets in several applications is common due to the high durability of the material and vast availability. Pallets are used as a durable and cost-effective way to transport and store cargo, including food and other goods.

The pallet is often cut into boards that can then be further utilized in furniture or other construction projects. It's also used as a base material for workbenches, which is popular with carpenters who like to make their own.

COVID-19 impact on the Wood Pallet Market

The COVID-19 pandemic has slowed key trade activities in many countries. The outbreak of this particular epidemic has affected the respective supply chains of companies around the world. As major economies have experienced a preventive manufacturing blockade, a considerable gap has been created between market supply and demand, making it difficult for manufacturers and distributors to manage their supply operations.

This is also major factor that is expected to have a negative impact on the projected revenue growth prospects of the wood pallet market. The possibility of an upcoming economic recession may also adversely affect future investments in the industry.

Key Challenges To The Wood Pallet market

There are two main challenges to the market for wood pallets. The first challenge is that much of the world has banned the use of these items in shipment, due to their contribution to deforestation. Secondly, the market is increasingly being challenged by plastics and other types of packaging. One of the most important challenges to the pallet industry is that there is no standardization in their manufacture.

The lack of standards for wood types and dimensions makes it difficult for companies to stock enough materials, and supply disruptions can lead to market shortages.

Key Opportunities For Revenue Growth In The Wood Pallet Market

The Wood Pallet market is an expansive global industry that delivers high-quality products to customers, which allows for many opportunities of revenue growth. A company could establish a foothold by targeting developing countries where the demand for pallets is still relatively low, like Germany, Italy, and Russia. Another strategy would be to grow the number of partners this company has by partnering with distributors or competitors of its current clients so as to expand the number of places the company’s product is sold.

Regional Analysis

Asia-Pacific region is expected to have a significant market share among others

Pallet usage is predicted to increase in the Asia Pacific region during the forecast years. The region shows the most overall usage of plastic and wooden pallets for imports and exports of goods. Countries such as Japan, China, and India are expected to be the leading markets during this period.

LEAP India is one of the most prominent companies in the pallet pooling industry, aiming to increase its pool of pallets from four million to six million. Plastic pallets are sold widely on the transportation, beverage, dairy, and pharmaceutical markets, usually comprising at least 50% of the reusable pallet pools in some Asian nations.

Competitive Landscape

Some of the major leading players operating in the Wood Pallet market are mentioned below:

• Herwood Inc.
• PalletOne
• The Falkenhahn AG
• Kronus
• Marko KEA
• Pine Products Ltd
• SAS Group
• HG Timber
• C.N. inc.
• James Jones and Sons Limited
• Other Key Industry Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Wood Pallet Market, By Product Type

• Stringer Pallet
• Block Pallet

Wood Pallet Market, By End-Use Industry

• Food & Beverages
• Pharmaceuticals
• Electronics
• Other End-Use Industries