The global pallet pooling market size is projected to reach US$ 7.1 Bn in 2022. Sales in the market are slated to increase at a steady 6.1% CAGR, pushing the market size to US$ 12.9 Bn by 2032. This is expected to drive the market in the coming years. As the manufacturing sector expands globally, so does the demand for pallet pooling solutions in warehouses.
Warehouse operators prefer pallet pooling because it saves time and resources associated with repairing, maintaining, and sorting individual pallets. Furthermore, by grouping similar types of pallets together, warehouse operators can save money on storing and transporting these objects.
Pallet pooling market sales are expected to increase in tandem with rising demand for lower logistics costs. Pavement management solutions enable the collection of these pallets for reuse at other manufacturers throughout the supply chain. The pallet interface reduces the complexity of purchasing, handling, and lifting by eliminating the need to control pallet distribution.
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Technological progress is expected to open up new opportunities for pallet pool market participants. There are a number of pallet organizations that specialize in placing interesting pallets. For example, they could run pallets covered with radio frequency identification (RFID) tags. This concept quickly gained ground thanks to several advantages, such as fast supply chain monitoring.
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.
Pallet management is the process of organizing and managing the movement of pallets, which are the flat platforms used to transport goods. Effective pallet management ensures that pallets are used efficiently, tracked and maintained properly. By managing pallets well, companies can reduce costs, minimize waste, and improve their supply chain operations. Pallet management involves various activities such as pallet tracking, repair, cleaning, sorting, and storage. It is essential for companies that handle large volumes of goods, as pallets are a critical part of the supply chain. With the right pallet management system in place, companies can improve their overall efficiency and maximize their profits.
In the forthcoming years, disposable plastic pallet pooling, which is appreciated for its durability and low cost, is predicted to gain a substantial share in the global pallet pooling market. The global pallet pooling market will benefit from rapid industrialization and increasing demand from the pharmaceutical sector.
“The introduction of pallets with RFID tags, along with pallet pooling rental services offered by market players will augment the growth in the market over the forecast period,” says an FMI analyst.
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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.
Some of the key pallet pooling manufacturers included in the report are Brambles Limited, Schoeller Arca, Faber Halbertsma, Euro Pool Group, Loscam, LPR, Contraload NV, Zentek Pool System GmbH, PPS Midlands Limited, Demes Logistics Gmbh & Co. KG.
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