Pallet Pooling Market Size is Projected To Reach USD 12480 Million By 2027 at a Cagr Of 5.5% - Valuates Reports
The global Pallet Pooling Market Size is projected to reach USD 12480 million by 2027, from USD 8479.9 million in 2020, at a CAGR of 5.5% during 2021-2027.
BANGALORE, India, Sept. 6, 2021 /PRNewswire/ -- Pallet Pooling Market By Type - Tray static leasing, Tray dynamic flow, Pallet Pooling Market By Application, Fast consumer goods industry - Chemical Industry and Pharmaceutical Industry, Mechanical equipment, Other. Global Opportunity Analysis and Industry Forecast, 2021-2027. It is published in Valuates Reports under the Software Category.
The global Pallet Pooling Market Size is projected to reach USD 12480 million by 2027, from USD 8479.9 million in 2020, at a CAGR of 5.5% during 2021-2027.
Major factors driving the growth of the Pallet pooling market are:
The cost-effectiveness feature is expected to drive the growth of the pallet pooling market. Pallet pooling helps save money on additional storage as well as the people needed to run those facilities. Additionally, because the service handles pallet retrieval and recovery, it can also save money on transportation.
Pallet pooling companies provide a steady supply of pallets in good shape that are ready to use right away. As a result, your organization saves time and money by not having to worry about maintaining the quality of your pallet items. Furthermore, many businesses, for example, are attaching radio frequency identification (RFID) tags to pallets to simplify the recovery and management of pallets. This feature is in turn expected to drive the growth of the pallet pooling market.
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TRENDS INFLUENCING THE GROWTH OF THE PALLET POOLING MARKET
The increasing need for reducing the cost of logistics is expected to drive the growth of the pallet pooling market. Pallet pooling services handle the reverse logistics required to collect these pallets for reuse by you or other manufacturers across the supply chain. Pallet pooling decreases the complexity of pallet procurement, management, and recovery by removing the need for your organization to manage its own pallet supply. This saves waste while also lowering your Total Cost of Business(TCOB). Pallet pooling is becoming more popular as a result of cost and the necessity to focus on core business. Pallets are widely utilized in the food & beverage, FMCG, electronics, chemicals, and pharmaceutical industries, to name a few. As a result, rising demand from all of these industries is propelling the growth of the worldwide pallet pooling industry.
Technological advancements are expected to provide lucrative opportunities for the growth of the Pallet Pooling Market. Several pallet pooling vendors are concentrating on introducing technologically improved pallets to end-users. Many businesses, for example, are attaching radio frequency identification (RFID) tags to pallets. This notion is gaining traction due to the numerous benefits such as efficient monitoring of supply chains.
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PALLET POOLING MARKET MARKET SHARE ANALYSIS:
Based on region, North America is the largest market, with a share of about 45%, followed by Asia-Pacific and Europe. North America remains at the forefront of the worldwide pallet pooling market due to an increasing number of warehouse owners who prefer pallet pooling for the transportation of goods as well as packaged food, which is highly consumed in the region.
Based on product the Pallet Pooling is the largest segment, with a share of over 81%.
Based on the application, FMCG is the largest market, with a share of over 38%. Because warehouses are such an important part of the fast-moving consumer goods (FMCG) industry, pallet pooling will continue to be popular in this sector over the next decade.
TOP COMPANIES IN THE PALLET POOLING MARKET:
Global key players of Pallet Pooling include Brambles Limited, Euro Pool Group, Faber Halbertsma Groep B.V, JPR and Korea Pallet Pool, etc. The top five players occupy a share of about 69%.
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Pallet Pooling Market By Type
- Tray static leasing
- Tray dynamic flow
Pallet Pooling Market By Application
- Fast consumer goods industry
- Chemical Industry and Pharmaceutical Industry
- Mechanical equipment
- Other
Pallet Pooling Market By Regions
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Pallet Pooling Market By Companies
- Brambles Limited
- Buckhorn
- CABKA Group
- Contraload NV
- Demes Logistics GmbH & Co. KG
- Euro Pool System International
- Faber Halbertsma Groep B.V.
- iGPS Logistics LLC
- Litco International
- Loscam Australia Pty. Ltd.
- PPS Midlands Limited
- Schoeller Arca Time Materials Handling Solutions Limited
- The Corrugated Pallets Company
- Tianjin CIMC Logistics Equipment
- Zentek Pool System GmbH
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SIMILAR REPORTS :
- Global Wooden Pallet Pooling Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product-Type: Pallet Rental, Pallet Pooling, Application: Consumer Goods, Chemical & Pharmaceutical, Mechanical, Other.
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- Global ISO Standard Wood Pallets Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product: ISO Standard Wood Pallets, Product-Type: Less than 3 Layers, 3-5 Layers, More Than 5 Layers, Application: Logistics & Transportation, Manufacturing Enterprise, Others.
- Global Block Pallets Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product: Block Pallets, Product-Type: Composite Pallet, Solid Wood Pallet, Others, Application: Logistics & Transportation, Manufacturing Enterprise, Others.
- Global ISO Pallets Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product: ISO Pallets, Product-Type: Paper Pallet, Wood Pallet, Plastic Pallet, Others, Application: Logistics & Transportation, Manufacturing Enterprise, Others.
- Global Plastic and Wood Trays Sales Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product: Plastic and Wood Trays, Product-Type: Wood Pallet, Plastic Pallet, Application: Food Industrial, Medical Industrial, Chemical Industrial, Manufacturing Industrial, Logistics Industrial, Transportation Industrial, Others
- The global Plastic Pallet Pooling market size is projected to reach USD 1110.9 million by 2027, from USD 772.6 million in 2020, at a CAGR of 5.3% during 2021-2027.
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