The Europe Pallets Market would witness market growth of 4.4% CAGR during the forecast period (2022-2028).
The pallets market has grown exponentially with the rise in global trade and shipping. As the world becomes even more closely knit together, the pallets market is expected to expand even further. Due to the presence of various small and major producers who compete against one another in terms of price and quality, the pallet market is fragmented. Corrugated pallets are becoming more popular as a sustainable packaging option as a result of the development of green consumption. Established businesses have been developing the strength of corrugated pallets for a variety of purposes, and the pallets have been gaining acceptance.
Plastic pallets are reused numerous times before being discarded, reducing packaging waste in landfills and making them very sustainable, despite the fact that they are constructed of non-biodegradable material. Growing government emphasis on reusing and recycling packaging items, as well as rising consumer awareness of sustainability, are likely to boost the market growth. The most important factor to consider when choosing a pallet material, especially in the food & beverage and pharmaceutical industries, is that it is free of contamination.
Freight is transported across the country by road, rail, air, sea, and inland waterways. Customer demand, supply-chain management, technology innovation, and transportation system governance all influence this complicated pattern of movement. The freight system can be seen in a variety of ways, but one approach is to analyze how commodities are transported, which items are transported, and where things are transported. In 2016, the UK moved an estimated 2,088 million tons of goods, with road transport accounting for 89 percent.
In terms of ton-kilometers, 76% was transported by road, 15% by water, and 9% by rail. This modal share by total tonnage has stayed steady for the previous 20 years, but in terms of ton-km, road and rail have grown their share at the expense of water since 1996. In the long run, road transport has increased its share of ton-km from 36 percent in 1953 to 76 percent now, while rail has declined from 42 percent in 1953 to 9% today. In 2016, the UK moved 2 billion tons of goods, with 89 percent of them traveling by road.
The Germany market dominated the Europe Pallets Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,093.1 million by 2028. The UK market is estimated to grow at a CAGR of 3.5% during (2022 - 2028). Additionally, The France market would witness a CAGR of 5.2% during (2022 - 2028).
Based on Material, the market is segmented into Wood, Plastic via Injection Molding, Plastic via Other Methods, Corrugated Paper, and Metal. Based on Type, the market is segmented into Stackable, Nestable, Rackable, and Display. Based on Application, the market is segmented into Non-rental and Rental. Based on End-use, the market is segmented into Food & Beverages, Chemical, Retail, Pharmaceutical, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Pallets Market will Hit $104.4 Billion by 2028, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Brambles Limited, Schoeller Allibert B.V., UFP Industries, Inc., Cabka Group GmbH, Rehrig Pacific Holding, Inc., Craemer Holding GmbH, Menasha Corporation, Loscam International Holdings Co., Ltd., Millwood, Inc., and Falkenhahn AG.
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