Advancements in Pallet Tracking Will Drive Global Pallet Pooling Market to Reach a Valuation of US$ 14.49 Billion by 2034, Fuelled by a CAGR of 6.1% | FMI Analysis
Pallet pooling thrives with advanced tracking tech like RFID and barcodes, enabling real-time monitoring of pallets. This boosts efficiency, minimizes losses, and enhances inventory management across the supply chain.
NEWARK, Del, March 14, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the pallet pooling market is expected to reach a value of *US$ 8.01 Billion* in 2024, with projections indicating a growth to *US$ 14.49 Billion* by 2034. The market is anticipated to experience a steady surge at a CAGR of *6.1%*, during the forecast period 2024 to 2034.Providers are focusing on product customization and innovation to differentiate their offerings, as competition intensifies in the pallet pooling market. Customized pallet designs, materials, and features tailored to specific customer requirements can create value and drive demand for pallet pooling services.
There is a growing emphasis on lightweight and sustainable materials in pallet design and manufacturing. Pallet pooling providers are exploring innovative materials such as composite wood, plastic, and metal alloys that offer durability, strength, and environmental sustainability while reducing transportation costs and carbon emissions.
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Increasingly, businesses prefer rental and lease models for pallet pooling rather than outright ownership. Rental and lease models provide flexibility, scalability, and cost predictability, allowing companies to adapt to fluctuating demand and market conditions without the burden of upfront capital investment.
Reverse logistics, which involves the management of product returns, recalls, and recycling, is gaining importance in the pallet pooling market. Pallet pooling providers are offering reverse logistics solutions to help companies efficiently manage the return and recovery of pallets, optimize asset utilization, and minimize waste in the supply chain.
The evolution of global trade agreements and geopolitical dynamics has implications for the pallet pooling market. Pallet pooling providers are adapting their services to support supply chain resilience and agility, helping companies navigate trade disruptions, tariff changes, and geopolitical risks while maintaining operational efficiency and continuity.
*“The trend towards urbanization and the rise of last-mile delivery services have increased the demand for efficient pallet pooling solutions. Pallet pooling enables companies to optimize the handling and distribution of goods in densely populated urban areas, where space and logistics infrastructure may be limited,”* – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
*Key Takeaways from the Market Study:*
· The global pallet pooling market was valued at *US$ 7,586.9 Million* in 2023.
· From 2019 to 2023, the market demand expanded at a CAGR of *3.6%*.
· The market in Germany is expected to expand at a CAGR of *3.6%* through 2034.
· By structural design, the block segment to account for a share of *57.3%* in 2024.
· The market in India is expected to expand at a CAGR of *9.4%* through 2034.
· In terms of material, the wood segment to account for a share of *57.5%* in 2024.
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*Competitive Landscape:*
Prominent players in the pallet pooling market are:
· Brambles
· LOSCAM
· Euro Pool Group
· Faber Halbertsma Group
· LPR
· Schoeller Arca Time Materials Handling Solutions Limited
· Contraload NV
· Zentek Pool System GmbH
· PPS Midlands Limited
· Demes Logistics GmbH & Co. KG
*Company Portfolio:*
· Euro Pool Group is a major provider of reusable packaging and pooling solutions in Europe. The company offers pallet pooling services primarily focused on reusable plastic crates and containers used in the fresh produce supply chain. Their solutions aim to reduce waste and improve efficiency in the logistics and retail sectors.
· Faber Halbertsma Group is a leading provider of pallet and packaging solutions in Europe. The company offers pallet pooling services through its subsidiaries, including IPP and PRS. They provide wooden and plastic pallet pooling solutions tailored to the needs of customers in various industries across Europe.
*More Valuable Insights Available:*
Future Market Insights offers an unbiased analysis of the global pallet pooling market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the pallet pooling market, the market is segmented on the basis of structural design (block, stringer, customized), materials (wood, composite, plastic, steel, other metals), and end-use industry (FMCG industry, food and beverages, pharmaceuticals, electronics, chemicals, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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*Pallet Pooling Market Segmentation Analysis:*
*By Structural Design:*
· Block
· Stringer
· Customized*By Materials:*
· Wood
· Composite
· Plastic
· Steel
· Other Metals*By End Use Industry:*
· FMCG Industry
· Food and Beverages
· Pharmaceuticals
· Electronics
· Chemicals
· Others
*By Region:*
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and the Pacific
· East Asia
· The Middle East and Africa*About the Industrial Automation Division at Future Market Insights:*
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
*Author:*
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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