The global pallet pooling market poised to surpass a significant value of US$ 7.1 billion by the year 2022. However, this marks merely the inception of its upward trajectory, as sales are projected to maintain a robust Compound Annual Growth Rate (CAGR) of 6.1%. By 2032, the market is envisioned to further expand, reaching an impressive valuation of US$ 12.9 billion.
Pallet pooling, increasingly favored by warehouse operators, is gaining substantial momentum for various compelling reasons. One of its pivotal advantages lies in the considerable time and resource savings it offers. Embracing pooled pallets enables operators to efficiently circumvent labor-intensive tasks related to the repair, maintenance, and sorting of individual pallets. This heightened efficiency not only streamlines operations but also translates into substantial cost savings.
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Interestingly, the pallet-pooling market currently accounts for roughly 4% of the global material-handling equipment market. This relatively small segment, however, is poised for significant expansion. According to Future Market Insights (FMI), North America is set to take the lead, commanding a substantial 35% of the total market share over the forecast period. This indicates the region’s strong affinity for efficient logistics and its eagerness to embrace innovative solutions like pallet pooling.
Sales in the pallet pooling market are predicted to increase development on the back of rising demand for reducing logistic costs. Pavement management solutions carry backlinks to gather these pallets for repurposing by other manufacturers across the supply chain. The pallet interface eliminates the need for managing pallet distribution, reducing the complexity of pallet purchase, management, and retrieval.
Technological advancements are projected to create growth prospects for the pallet pooling market players. Various pallet pooling companies are focusing on introducing sophisticated pallets. For instance, they are launching pallets covered in radio frequency identification (RFID) tags. Due to numerous advantages, such as effective supply chain monitoring, this concept is rapidly gaining traction.
In the fast-moving consumer goods, food & beverage, and pharmaceutical industries, pallet pooling is very popular. Pooling pallet manufacturers continue to use wood and plastic as their principal materials. Demand for wood pallets is expected to remain high in comparison with other materials such as steel and composites.
Key Takeaways:
- By structural design, sales in the block pallet pooling segment are slated to increase at a 6.7% CAGR over the forecast period.
- Based on material, the wooden pallets segment will account for 57% of the total market share over the assessment period.
- In terms of end-use industry, sales in the FMCG segment will command more than 33% of the total market share in 2022.
- The U.S. pallet pooling market will offer an incremental opportunity of US$ 1.3 Bn over the forecast period.
- Total sales of pallet pooling services in China will reach a valuation of US$ 214.6 Bn by 2032.
- Demand for pallet pooling services in Germany is poised to grow at a 3.6% CAGR over the forecast period.
Competition Landscape:
Pallet pooling service providers are focusing on business expansion by opening new distribution centers and sales offices. Many manufacturers are creating strong networks with dealers and distributors to expand their businesses across multiple regions.
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Key Players Covered in Pallet Pooling Market:
- Brambles
- LOSCAM
- Euro Pool Group
- Faber Halbertsma Group
- LPR
- Schoeller Arca Time Materials Handling Solutions Limited
- Contraload NV
- Zentek Pool System GmbH
- PPS Midlands Limited
- Demes Logistics GmbH & Co. KG
Key Segments Covered in Report:
Structural Design:
- Block
- Stringer
- Customized
Materials:
- Wood
- Composite
- Plastic
- Steel
- Other Metals
End-Use Industry:
- FMCG Industry
- Food & Beverages
- Pharmaceuticals
- Electronics
- Chemicals
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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