Pallet container market will get a boost from logistics and warehouse industry
By Radiant Insights Inc.
By Radiant Insights Inc.
The global pallet container market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Pallet container is also termed as pallet boxes that are exclusively used for the transportation and storage of raw materials and products. These enclosed containers are made using corrugated cardboard, wood, plastic, and metal.
The factors that are playing a major role in the growth of market are the growing demand from logistics and warehouse industry, the rising economic activities, and the rising use of enhanced technology in the packaging design of pallet containers.
However, the fluctuating raw material costs may restrain the overall market in the years to come. The pallet container market is segmented based on type, application, distribution channel, and region. Unfolding and folding are the types that could be explored in market in the forecast period. The market may be categorized based on applications like handling, retail industry, automotive industry, storage, and transport that could be explored in the forecast period. Based on the distribution channel, online channel and offline channel could classify pallet container in the forecast period.
The pallet container market is segmented geographically into the Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), the Middle East (UAE, Saudi, and Qatar) and Africa (South Africa). Globally, the Americas account for the substantial share of pallet container market and is estimated to lead the overall market in the years to come.
The reason behind the overall market growth could be the developing e-commerce industries, the rise in industrial exports and output, and the refurbishing of the manufacturing sector. The United States is a major consumer of pallet container in this region. Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share.
However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of pallet container in this region. The key players of pallet container market are Schoeller Allibert, AUER Packaging, Olitec Packaging Solutions, Brambles, CABKA Group, Newgen Speciality Plastics, PRIECO, TranPak, and ORBIS. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition. The global Pallet Container market was valued at $XX million in 2017, and the analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2017 and 2028. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Pallet Container market.
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