The global pallet pooling market is on a growth trajectory, with an estimated size of US$ 7.1 Billion expected for 2022. Looking ahead, this market is set to steadily expand, with sales projected to increase at a consistent 6.1% Compound Annual Growth Rate (CAGR). By 2032, the market is anticipated to reach an impressive US$ 12.9 Billion.
Pallet pooling has become the preferred choice for warehouse operators due to its efficiency in saving time and resources. It eliminates the need for repairing, maintaining, and sorting individual pallets. Furthermore, by grouping similar types of pallets together, warehouse operators can optimize their storage and transportation costs. This is expected to be a significant driving force behind the market's growth in the coming years.
At present, the pallet-pooling market represents about 4% of the global material-handling equipment market. According to Future Market Insights (FMI), North America is poised to play a prominent role in this market, accounting for 35% of the total market share during the forecast period. This underscores the growing importance of pallet pooling in the logistics and warehouse management landscape.
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Sales in the pallet pooling market are predicted to increase development on the back of rising demand for reducing logistic costs. Pavement management solutions carry backlinks to gather these pallets for repurposing by other manufacturers across the supply chain. The pallet interface eliminates the need for managing pallet distribution, reducing the complexity of pallet purchase, management, and retrieval.
Technological advancements are projected to create growth prospects for the pallet pooling market players. Various pallet pooling companies are focusing on introducing sophisticated pallets. For instance, they are launching pallets covered in radio frequency identification (RFID) tags. Due to numerous advantages, such as effective supply chain monitoring, this concept is rapidly gaining traction.
In the fast-moving consumer goods, food & beverage, and pharmaceutical industries, pallet pooling is very popular. Pooling pallet manufacturers continue to use wood and plastic as their principal materials. Demand for wood pallets is expected to remain high in comparison with other materials such as steel and composites.
- By structural design, sales in the block pallet pooling segment are slated to increase at a 6.7% CAGR over the forecast period.
- Based on material, the wooden pallets segment will account for 57% of the total market share over the assessment period.
- In terms of end-use industry, sales in the FMCG segment will command more than 33% of the total market share in 2022.
- The U.S. pallet pooling market will offer an incremental opportunity of US$ 1.3 Bn over the forecast period.
- Total sales of pallet pooling services in China will reach a valuation of US$ 214.6 Bn by 2032.
- Demand for pallet pooling services in Germany is poised to grow at a 3.6% CAGR over the forecast period.
Pallet pooling service providers are focusing on business expansion by opening new distribution centers and sales offices. Many manufacturers are creating strong networks with dealers and distributors to expand their businesses across multiple regions.
Key Players Covered in Pallet Pooling Market:
- Euro Pool Group
- Faber Halbertsma Group
- Schoeller Arca Time Materials Handling Solutions Limited
- Contraload NV
- Zentek Pool System GmbH
- PPS Midlands Limited
- Demes Logistics GmbH & Co. KG
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Key Segments Covered in Report:
- Other Metals
- FMCG Industry
- Food & Beverages
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa (MEA)