Pallet pooling ensures the availability of pallets at the operational location, which results in a lean supply chain. Lean supply chain management leads to effective operational lead time. Owing to the rising inclination of most end users towards cost reduction, along with optimum lead time, the pallet pooling market is estimated to gain noteworthy traction in the coming decade.
Future Market Insights (FMI) has projected the Global Pallet Pooling market to grow with considerable value CAGR of 6.2% during the period of 2022 and 2029 and reach a value of US$ 641.8 Million by 2029 end.
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According to a new research report published by Future Market Insights (FMI), the pallet pooling market is estimated to exhibit 6.2% CAGR over the forecast period, to reach a valuation of more than US$ 11 Bn by the end of 2029.
Key Takeaways of Pallet Pooling Market Study
- Pallet pooling has prominent application in the FMCG sector, as warehouses play a crucial role in this industry.
- In terms of material, plastic pallet pooling is estimated to witness notable demand, owing to high reliability, durability, and cost-effectiveness of plastic pallets as compared to other types.
- Globally, the pallet pooling market in GCC countries is estimated to witness lucrative growth, owing to the positive outlook for industrial trade activities in the region, particularly for the e-Commerce industry. The U.S. is expected to hold a leading share in the global market, registering a significant CAGR throughout the forecast period.
- In recent years, pallets tagged with RFID have become more popular amongst end consumers, owing to their ability to provide location as well as detailed information related to stacked products on pallets.
- Pallet pooling is a one-time investment business, in which, the owner has to purchase pallets and then pooling can be done without any large investment. As a result, the market offers high profit margins to its participants.
- For the effective operational efficiency of pallets, pallet service providers perform quality checks after the end of every service cycle to provide high-quality pallets and efficient service cycles to end consumers. Continuous and high standard quality checks of pallets are estimated to help players in the global pallet pooling market gain a competitive advantage.
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Pallet Pooling Market: Competitive Landscape
Due to the existence of a few number of pallet pooling service providers worldwide, the pallet pooling market is extremely consolidated. Leaders in the pallet pooling market include Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam. By the establishment of additional regional offices and sales partners, the majority of market players are concentrating on increasing their sales presence in developing countries like South Asia and the Middle East.
Focus on Technological Advancements in Pallet Pooling
Increasing requirement of technologically-advanced pallet systems throughout the supply chain for lean management is anticipated to support the future growth of the global pallet pooling market.
Find More Insights on Pallet Pooling Market
Based on the revenue that market participants made from the target product, the research report evaluates the global pallet pooling market’s total sales value. On the basis of variables such warehouse traffic flow, adoption rate, governmental rules, and sustainable development, the market is predicted. Pallet management services for the FMCG, food and beverage, chemicals and pharmaceutical, and other related end-use industries are included in the study report’s scope.
Key segment:
By Structural Design:
- Block
- Stringer
- Customized
By Material:
- Wood
- Composite
- Plastic
- Steel
- Other Metals
By End Use:
- FMCG Industry
- Food & Beverages
- Pharmaceutical
- Electronics
- Chemicals
- Others
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