Published: Feb, 2018
It is said that what seen, sells more than otherwise. From that perspective, pallet displays are of great importance for retail outlets and on the back of mushrooming of shopping malls across urban parts of the world, the market for the same is expanding. According to a recent business and commerce study by Transparency Market Research (TMR), the demand in the global pallet displays market will increment at a CAGR of 4.3% during the forecast period of 2017 to 2026. The analysts of the report have estimated that the global pallet displays market will be worth US$1,600 mn by the end of 2026.
Global Vendors Expanding into Emerging Economies to Gain Shares
The report identifies FFR Merchandising Company, Xinapse Systems Ltd., Georgia-Pacific LLC, DS Smith Plc, Marketing Alliance Group, Creative Displays Now, Sciencesoft USA Corporation, Pratt Industries Inc., Toshiba Medical Systems Corporation, Smurfit Kappa Group PLC, Sonoco Products Company, WestRock Company, U.S. Corrugated, Inc., Siemens Healthineers, and Mirada Medical Limited as some of the most prominent companies currently ahead of the curve in the global pallet displays market. For these companies to maintain their stronghold, the analysts of the report has foreseen the strategies of product innovation and geographical expansion as the primary mode. While there is no fixed pattern for pallet displays with the focus essentially on customization according to the available real estate, vendors are providing for diverse products. In addition to that, the pallet displays market is now findings strong new opportunities in the emerging economies of India, China, and Brazil, and whichever among them makes a mark early, will stand a chance to increase market shares.
Based on product type, the report segments the global pallet displays market into quarter pallet display, half pallet display, and full pallet display, whereas end-use bifurcation of the market has been done into supermarket, hyper market, departmental store, convenience store, specialty store, convenience store, and other retail formats. Application-wise, the market has been categorized into cosmetics and personal care, food and beverages, printing and stationary, pharmaceuticals, automotive, electronics, and others. Material type classification of the market has been done into foam board, corrugated board, plastic sheet, metal, and glass. Geographically, the analysts of the report have highlighted North America and Asia Pacific as the two key regions. While the former currently provides for the maximum demand, the latter is projected to exhibit incrementing demand at a much stronger rate.
Mushrooming of Shopping Malls Driving Demand
Pallet displays help in positioning of products in such a way that they are convenient for the shoppers to grab in addition to providing for a strong method of advertising. Not only the premium shops in mushrooming shopping malls, even smaller retailers and grocery store operators are opting for pallet displays to grab the attention of consumers and increase sales. A number of times, even product manufacturing companies provide for display pallets to the show operators for their designated products and consequently, the demand in the global pallet displays market is expanding. This expansion is expected to be experienced more in the emerging economies, wherein disposable income of urban population is radically increasing. Some of the other drivers of the global pallet displays market are rising demand for more attractive retail store product display and convenient packaging and increasing usage of pallet displays in electronics sector. In addition to that, food and grocery product display in expected to further provide traction to the market. In addition, increasing demand for end-use-specific pallet displays that are capable of executing complicated pallet display programs are likely reflect positively on the market during the forecast period. The high emphasis that is placed of enhancing quality has led to introduction of high quality pallet displays that fulfil the actual objectives.
The information presented in this review is based on a Transparency Market Research report, titled, “Pallet Displays Market (Product Type - Full Pallet Display, Half Pallet Display, Quarter Pallet Display; End Use - Hyper Market, Supermarket, Departmental Store, Specialty Store, Convenience Store, Other Retail Formats; Application - Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, Printing & Stationary, Electronics, Automotive, Others; Material Type - Corrugated Board, Foam Board, Plastic Sheet, Glass, Metal) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026.”
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