The new report by Expert Market Research titled, ‘United States Pallet Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the United States pallet market, assessing the market based on its segments like type, structural design, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Volume (2021): 1,480.3 million units
- Forecast CAGR (2023-2028): 1.7%
- Forecast Market Volume (2027): 1,639.5 million units
Pallet demand in the United States is increasing due to increased demand from the food and beverage industries. Due to protracted periods of lockdown during the COVID-19 epidemic in 2020, demand for pallets from grocery stores and supermarkets decreased. However, the supply of necessary commodities via online channels from major hypermarkets such as Walmart helped to keep the pallet market in the country growing.
Pallet demand in the United States increased as enterprises transitioned from offline to online means of sales during the pandemic, owing to the growing need to maintain organised logistics systems for a successful supply chain operation.
Because of their low cost, excellent durability, and widespread application, wood pallets have a major share of the pallet market in the United States. Because of its heat, chemical, and contamination resistance properties, plastic pallets are seeing healthy growth opportunities in the food and beverage and pharmaceutical industries, strengthening the total market of the US pallet business.
The increased transportation of PPE kits and masks in the United States as a result of the pandemic is assisting the adoption of technologies such as automated storage and retrieval systems (ASRS) with pallet packaging to reduce human intervention in the pharmaceutical supply chain, lowering the risk of contamination and adulteration, and boosting pallet market growth.
United States Pallet Industry Definition and Major Segments
Pallets are a type of tertiary packaging that also serves as a platform or support for big loads. It is widely used in the transportation and warehousing industries. It is used to store, protect, and transport products and is typically composed of plastic, wood, metal, or corrugated paper.
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Based on type the market is segmented into:
- Corrugated Paper
Based on the structural design, the market is divided into:
Based on application the market is categorized into:
- Food and Beverage
- Chemicals and Pharmaceuticals
- Machinery and Metal
Regional markets include:
- New England
- Great Lakes
- Rocky Mountain
- Far West
United States Pallet Market Trends
Due to increased demand from the warehousing industry and e-commerce becoming a prominent section of sales across different industries, the pallet market in the United States is expected to develop at a healthy rate throughout the forecast period. With significant research and development (R&D) operations in pallet manufacturing, the pallet market in the United States is expected to grow as technology is integrated into pallet goods and production.
Furthermore, with the advent of government programmes to promote the use of recycled and reusable plastic pallets as well as pallets made in the United States, the market in the United States is predicted to increase significantly.
Construction operations are expected to resume as the government eases pandemic-induced lockdown restrictions in major US locations, which is expected to enhance the market for steel and plastic pallets, hence contributing to market growth. The need for pallets from pharmaceutical businesses for storage and shipping of important pharmaceuticals is likely to boost market growth in the next years, given that the United States is the hub for major pharmaceutical companies.
Key Market Players
The major players in the market are Palletone Inc., Orbis Corporation, Robinson Industries, Inc., Milwood, Inc., Anderson Pallet and Crate Inc. and Others.
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