Global Pallet Market Overview 2018: Growth, Demand and Forecast Research Report to 2023
Added: (Thu Jan 10 2019)
Pressbox (Press Release) -
The global pallet market has been witnessing a positive growth over the past few years. This can be attributed to rising expenditure on housing and infrastructure activities as a result of rapid urbanisation and boosting disposable incomes.
Pallets are horizontal platforms which offer a base for storing, handling, assembling and transporting products and materials. They are a type of tertiary packaging affixed with a superstructure and a bottom. Pallets are portable and easy to handle as they help in simplifying the process of loading and unloading and ensure safe delivery of the product. As a result, they are extensively used by suppliers and manufacturers of commercial goods across the globe. A new research report by IMARC Group, titled “Pallet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global pallet market reached a volume of 6.5 Billion Units in 2017. The report further anticipates the market to reach 8.8 Billion Units by 2023, at a projected CAGR of around 5% over the forecast period.
Request for sample report: https://www.imarcgroup.com/request?type=report&id=888&flag=B
Global Pallet Market Drivers/Constraints:
There has been a rise in the expenditure on both housing and infrastructure activities owing to a significant increase in disposable incomes and rapid urbanisation. This is one of the major factors which has been propelling the market growth.
Manufacturers have increasingly started using multiple-trip pallets instead of single-trip pallets as they offer lower cost per-trip, eliminate solid waste and enhance operational efficiency. This has, in turn, positively influenced the growth of the market.
Over the past years, there has been a significant development in the logistics and transportation sectors as well as trade volume of numerous emerging nations which have contributed towards an augmented demand for pallets across the globe.
The limited availability of pallets and increasing cost of raw materials are some of the other factors which act as major factors impeding the growth of the global pallet market.
Browse full report with TOC: https://www.imarcgroup.com/pallet-market