Flat Pallets Market: An Overview
Flat pallets are the backbone of supply chain used for stack, store and transporting materials. It is majorly made up of wood, metal and plastic. Consumer preference for flat pallet is increasing rapidly, as these pallets have potential load bearing capacity and ensures damage free transits. This further helps end users to save cost in case of bulk transportation. Among various flat pallets, metal and plastic pallets are gaining significant traction for storage, as these pallets require less maintenance and no chemical treatment is involved. Consumers are gradually shifting to these pallets from traditional wooden pallets due to its mechanical strength, moisture resistance and less chances of buckling. Key players are having maximum emphasis on use of recycled material for manufacturing flat pallets. Therefore, they are developing paper based flat pallets for lightweight products. Attributing to benefits of flat pallets such as safe and effective material handling and inventory management for longer duration, the global market is expected to have lucrative growth opportunities, during the forecast period.
Flat Pallets Market: Dynamics
Flat pallets plays a crucial role in supply of goods from one place to another, material handling is the important factor while delivering to the customer. End users are highly concern about safe transportation of the inside product. This is a fueling factor for driving the global flat pallet market. Several other factors responsible for boosting the market are ease of customization, product availability, and good strength for carrying load especially during long distance transit. Additionally, the demand for paper flat pallets as a display units in the retail shops, supermarkets, and hypermarkets is consistently increasing for grabbing attention of the customers.
Increasing number of E-commerce platform is majorly providing growth opportunities for flat pallets market since past few years. Additionally, expansion of food and beverage market across many countries propelling sales growth for these pallets to ensure safe loading and unloading of the products. The flat pallet market is also expected to increase on the back of expansion of pharmaceutical industry. The demand for flat pallets is increasing in pharmaceutical industry for safe and non-contaminated storage of the consumable product. Flat pallet manufacturers are switching towards sustainable solutions and replacing it with conventional designs of pallets that supports smaller format store. Pallets that can be unloaded from the trucks directly to the stores now have a high concerns about pallets hygiene, so the companies are working on wood fibre that downs the moisture content. With the increase in the demand of processed food, beverages and cold storage comes with the increase in demand of plastic pallets.
Flat pallets are available with two way or four way forklifting approach. Four way flat pallet is highly preferred by the end users as this offers bulk lifting from all directions. Despite of positive outlook, COVID-19 has negative impact on the overall market growth of flat pallet. Less production, minimal resources availability and restricted transportation have added many challenges for the market growth across all nations.
Flat Pallets Market: Segmentation
Globally, the flat pallet market is segmented on the basis of material, product, and end use.
By Material, the global flat pallet market has been segmented as follows
By Product, the global flat pallet market has been segmented as follows
- Block pallets
- Stringer pallets
- Double-Face pallets
- Double wing pallets
- Solid deck pallets
By End use, the global flat pallet market has been segmented as follows
- Food and beverages
- Building and Construction
- Transportation & warehousing
- Others (Agriculture, etc.)
Flat Pallets market: Regional outlook
The geographical analysis of the flat pallet market revealed that the demand for pallets is going to be increase in in multiples during the forecast period. As the increase in the pharmaceutical industries in North America the pallet market also get the fuel for the growth. The market in Asia have the high growth with the increase in the production in manufacturing sector. In Asian countries there is increase in plastic flat pallets market in automotive, dairy and pharmaceutically industry. The market of light weight plywood pallets and cardboard pallets have the moderate growth in the region of Middle East & Africa and Latin America.
Flat Pallets Market: Key Players
Some of the key players operating in the flat pallets market are Brambles Ltd., CHEP, Rehrig Pacific Company, Palletone, Schoelleir Allibert Group B.V, LOSCAM, CABKA group, New Pig, Elkhart Plastic Inc., Illing company Inc.
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