Pallet pooling guarantees that there are pallets available at the operational location, creating a lean supply chain. Efficiency in operational lead time is a result of lean supply chain management. The pallet pooling industry is predicted to grow significantly over the next ten years because to the increasing trend among end users towards cost reduction and optimal lead time.
The pallet pooling market is predicted to grow at a 6.1% CAGR throughout the forecast period, reaching a valuation of more than US$ 12.9 billion by the end of 2032, according to a recent research report from Future Market Insights (FMI).
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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.
Pallet Pooling Market: Competitive Landscape
The pallet pooling market is highly consolidated, owing to the presence of a limited number of pallet pooling service providers across the globe. Brambles Limited, Euro Pool Group, Faber Halbertsma, and Loscam are considered to be leading players in the pallet pooling market. Most market players are focusing on expanding their sales footprint in developing markets such as South Asia and the Middle East through the establishment of additional regional offices and sales partners.
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.
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Find More Insights on Pallet Pooling Market
The research report analyzes the total sales value of the pallet pooling market on the basis of revenue generated by market players from the target product. The market is forecasted on the basis of factors such as warehouse traffic flow, adoption rate, government regulations, and sustainable development. The scope of the research report includes pallet management services catering to FMCG, food & beverages, chemicals & pharmaceuticals, and other related end-use industries.
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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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