Skip to main content

Molded Wood Pallets Market will reach at a CAGR of 3.0% from 2019 to 2029

Future Market Insights (FMI), in its latest publication, outlines the future trajectory of molded wood pallets market for the period, 2019-2029. According to the study, global sales of molded wood pallets reached 435 million units in 2018, and are estimated to record a Y-o-Y growth of approximately 3% in 2019. Molded wood pallet manufacturers' capabilities have been put to test in recent times, as notable trends such as pallet pooling continue to flourish among end-users.
As wood waste takes up a considerable amount of landfill space, manufacturing molded wood pallets became an effective solution to waste utilization and a perfect fit for companies going green. In addition to weighing 35% lighter, molded wood pallets are nestable which helps optimize space and reduce the cost of retrieval by more than half when compared to conventional pallets.
Molded wood pallets are sanitized during the molding process and meet the most stringent phytosanitary regulations such as ISPM-15 for export. As food and pharmaceutical companies are diligent about using pallets free of contaminants, FMI study finds that capitalizing on these companies will work to the advantage of molded wood pallets manufacturers.
Fulfilling End Users' Quest for Sustainable Practices
The study finds that the molded wood pallets market is anticipated to grow at a volume CAGR of approximately 3% through 2029. One of the key growth drivers is manufacturers' efforts to use significant amount of wood waste as raw materials that would otherwise end up in landfills. Further, adoption of environmentally responsible manufacturing process that consumes less energy, helps take a step closer towards sustainability goals for many industries. However, molded wood pallets are designed for limited reuse and are not reparable. Manufacturers are thus paying attention on potential methods to assist in avoiding landfills when the products have exceeded their useful life.
Although full-sized molded wood pallets continue to witness robust sales with approximately 60% revenue share in the market, manufacturers are working on increasing the production of half-sized pallets that enhance efficiency and reduce costs for shippers of smaller loads. The study opines that small-scale companies will benefit from half-sized pallets, as the use of recycled full-sized pallets burdens them with more pallet space and weight than necessary. Moreover, half-sized, nestable molded wood pallets are likely to account for relatively large share of the market players' bottom lines in the future.
Preview Analysis of Molded wood pallets market is segmented by (Product - Nestable/Stackable Pallets & Rackable Pallets; Size - Quarter Size Pallets, Half Size Pallets & Full Size Pallets; End Use - Manufacturing & Warehousing, Logistics & Transportation & Building & Construction;) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
According to the study, opportunities abound for market stakeholders in logistic & transportation sector, on account of increasing industrial activities along with rapid proliferation of trade agreements among various countries. Recognizing the recent developments in manufacturing and construction industries, manufacturers are likely to explore newer opportunities, with 'sustainability' at the forefront of attracting attention. Aligning with evolving end users' trends and upgrades in regulatory norms also remains an important focus area of the manufacturers.
Growth prospects of the molded wood pallets market, as identified by the FMI's study, are high in EU5. Higher concentration of players in the region and their efforts to push sales and distribution through online channels are emerging as a strategic move. Further, Asia Pacific, particularly eastern region, is expected to represent higher incremental opportunities, backed by hefty investments in industrial sectors in recent years, which has primarily influenced the adoption of pallets.
The FMI report further offers a comprehensive analysis of competitive landscape in molded wood pallets market. Although the market shows a high level of consolidation with a handful of key players accounting for prominent shares, there are less number of manufacturers as compared to the conventional pallets providers. Sensing a wide window of opportunity for new entrants, key players are inclining towards diversifying their product portfolio and leveraging opportunities in the untapped markets.
This study tracks the growth of global molded wood pallets market over the eight-year period, 2019-2027.
More from Packaging Market Intelligence:
  • Paper Napkin Making Machine Market Segmentation By Production Capacity - 100-200/Hour, 200-400/Hour, 400-600/Hour, 600-800/Hour; System Type – Integrated, Standalone; Operation – Automatic, Semi-Automatic 
  • Multi-Part Labels Market Segmented By Product type - Multi-part Barcode Label, Multi-part Content Labels, Multi-part logo and image labels, Others; By Application Type - Chemical Industries, Pharmaceuticals & healthcare, Beauty and Personal Care, Consumer durables, Clothing & accessories, Others
  • Cider Packaging Market Segmented By Material Type - glass, plastic and metal; By packaging type - bottles, cans and stand up pouches
Press-Release Source – https://www.prnewswire.com/news-releases/molded-wood-pallets-market-will-exhibit-a-steady-3-cagr-through-2029--future-market-insights-300888469.html
About Us
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Request for Covid19 Impact Analysis: https://www.futuremarketinsights.com/covid19/rep-gb-6215
Contact Us
Mr. Abhishek Budholiya
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): +44(0)20-7692-8790
Sales: sales@futuremarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Frozen Fruits Market Size, Key Players, Growth Factors, Regions and Applications, Industry Forecast by 2032

 The Frozen Fruits Market has witnessed remarkable growth in recent years, driven by consumers' increasing preference for convenient and nutritious food options. Frozen fruits have become a popular choice among health-conscious individuals and busy households, offering a quick and easy way to incorporate the goodness of fruits into daily meals, smoothies, and desserts. These fruits are picked at the peak of ripeness and flash-frozen to lock in their natural flavors and nutritional value, making them a tasty and nutritious choice year-round. One of the key factors propelling the growth of the Frozen Fruits Market is the rising awareness of the health benefits associated with frozen fruits. They are often nutritionally comparable to fresh fruits, as freezing preserves vitamins and minerals. Additionally, frozen fruits are free from artificial preservatives or additives, making them an attractive option for those seeking a natural and wholesome diet. Their long shelf li...
Post a Comment
Read more

Kelp Market Future Trends, Industry Size and Forecast to 2032

 The kelp market is experiencing significant growth and is poised to become a prominent player in the global food and agriculture industry. Kelp, a type of large brown seaweed, offers a wide range of benefits and applications, driving its increasing demand across various sectors. First and foremost, the nutritional value of kelp makes it highly sought after. Packed with essential vitamins, minerals, and antioxidants, kelp offers a nutrient-rich addition to diets around the world. It is particularly valued for its high iodine content, which is vital for thyroid function and overall health. Additionally, kelp is a good source of fiber, calcium, iron, and other essential nutrients, making it a valuable ingredient for health-conscious consumers and dietary supplement manufacturers. The culinary world has also embraced the versatility of kelp. With its umami flavor and unique texture, kelp has become a popular ingredient in various cuisines. It is used in the preparation...
Post a Comment
Read more

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, ...
Post a Comment
Read more