NEWARK, Del, July 26, 2023 (GLOBE NEWSWIRE) -- The Global Paper Pallet Market is anticipated to reach a valuation of US$ 707.5 Million in 2023, driven by environmental sustainability. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.6% between 2023 and 2033, and reaching a total valuation of approximately US$ 1.2 Billion by 2033.
One of the major factors contributing to the growth of the paper pallet market is stringent regulations and compliance. Stringent regulations governing the use of wooden pallets, such as the International Standards for Phytosanitary Measures (ISPM 15), have compelled companies to explore alternative packaging solutions. Being exempt from phytosanitary treatment requirements, paper pallets have emerged as an attractive option for international shipping and logistics operations, driving their adoption in various industries.
Drivers and Challenges Impact Market Dynamics. Find more insights in a sample report! Download Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-7227
Paper pallets are designed to be lightweight and space-efficient, offering advantages in terms of logistics and transportation. The reduced weight allows businesses to optimize shipping capacity and lower transportation costs. Their nestable and collapsible features enable efficient storage and handling, making them popular in industries dealing with limited warehouse space.
Cost considerations play a crucial role in decision-making for businesses. Paper pallets can be more cost-effective than traditional wooden or plastic pallets. They are often more affordable to produce, and their recyclable nature reduces disposal costs. The cost savings, coupled with the growing awareness of environmental benefits, drive the adoption of paper pallet.
Key Takeaways from the Market Study
- Global paper pallet market was valued at US$ 670.0 Million by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.3%.
- China Paper Pallet Market is expected to hold a dominant CAGR of 5.5% during the forecast period.
- By product, the four-way paper pallet segment is expected to constitute a CAGR of 5.5% in 2033.
- Based on the end-use industry, the healthcare segment is expected to dominate the market with a CAGR of 6.6% in 2033.
- From 2023 to 2033, the paper pallet market is expected to flourish at a CAGR of 5.6%.
- By 2033, the market value of paper pallet is expected to reach US$ 1.2 Billion.
Customization & branding across the globe is a major factor that is expected to propel the growth of the paper pallet market in the near future, remarks an FMI analyst.
Discover the marketing strategies top players use to dominate the Paper Pallet Market! Speak to a Research Analyst and unlock the Market Share Analysis today! https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-7227
Competitive Landscape
Some of the key developments by the listed companies are:
- In June 2021, Mondi Group, a prominent player in the packaging and paper industry, unveiled StretchWrap, an ingenious pallet wrapping system. The revolutionary solution replaces conventional plastic materials with paper, delivering substantial advantages throughout the supply chain. StretchWrap, by opting for paper instead of plastic, significantly reduces the industry's dependence on non-renewable resources, advancing a more sustainable approach to packaging. The paper-based StretchWrap is fully recyclable, perfectly aligning with Mondi Group's unwavering dedication to environmentally friendly packaging solutions.
- In August 2020, KraftPal conducted a comprehensive Lifecycle Assessment (LCA) study, comparing corrugated cardboard pallet to the widely utilized wooden pallet. The findings revealed that corrugated cardboard pallet emerged as the most environmentally friendly and sustainable standardized loading platform. The study highlighted the ecological advantages of using corrugated cardboard pallet over conventional wooden pallet, reinforcing their position as a nature-friendly choice for various industries.
Key Companies Profiled
- DS Smith Plc
- Smurfit Kappa Group
- Conitex Sonoco
- Multi-wall Packaging
- KraftPal Technologies Ltd.
- Europal Packaging
- Dopack
- Interpak Industries Pte. Ltd.
- Kimmo (Pty) Ltd.
- Elsons International
More Valuable Insights Available
Future Market Insights offers an unbiased global paper pallet market analysis, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the paper pallet market, the market is segmented based on the product (two-way paper pallet and four-way paper pallet), by pallet structure (honeycomb paper pallet, corrugated paper pallet, and hybrid paper pallet), by size (42 inch x 42 inches, 44-inch x 44 inches, 48-inch x 40 inches, 48-inch x 45 inches), and by end-use industry (food & beverages, pharmaceutical, cosmetics & personal care, electrical & electronics, health care, and automotive), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Customize your report with country-specific insights and save up to 30% today! https://www.futuremarketinsights.com/customization-available/rep-gb-7227
Key Segments Profiled In the Global Paper Pallet Market
By Product:
- Two Way Paper Pallet
- Four Way Paper Pallet
By Pallet Structure:
- Honeycomb Paper Pallet
- Corrugated Paper Pallet
- Hybrid Paper Pallet
By Size:
- 42 inch x 42 inch
- 44 inch x 44 inch
- 48 inch x 40 inch
- 48 inch x 45 inch
By End-Use Industry:
- Food & Beverages
- Pharmaceutical
- Cosmetics & Personal Care
- Electrical & Electronics
- Health Care
- Automotive
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
Explore Trending Reports of Packaging
Packaging Peanuts Market Demand: The global packaging peanuts market is set to enjoy a valuation of US$ 1.3 Billion in 2022, and further expand at a CAGR of 4.9% throughout the forecast period (2022 to 2032). Overall sales of packaging peanuts are likely to total a valuation of US$ 2.1 Billion by the end of 2032.
Foamed Plastics Market Size: Foamed plastics market is projected to reach over US$81.5 Bn by 2028. Consistent demand for foamed plastics for contamination-free storage of both - industrial and non-industrial goods uplifts market growth. Foamed plastics market is projected to expand at a CAGR of 5.8% during the forecast period (2022-2030).
Packaging Tensioner Market Share: The packaging tensioner market is estimated to witness a positive growth with increasing need for securing the bulk products during transportation. A new forecast by FMI analysis anticipate that the packaging tensioner market will create an incremental $ opportunity of US$ 609.8 Mn in 2022.
Packaging Waste Recycling Market Growth: Growing concern towards plastic waste may lead to ban on plastic packaging products in some of the countries. Plastic waste has increased substantially in the last ten years due to increase in demand for packaged food and consumer goods globally. It is estimated that less than 40% of all plastic waste is recycled all over the world.
Foam Packaging Inserts Market Value: global foam packaging inserts market is expected to account for US$ 514.1 Million in 2023, and is going to further expand at a CAGR of 3.6% to reached valuation of US$ 799.2 Million by the year 2033. The sales of the foam packaging insert market are anticipated to bolster with the top 3 countries projected to hold around 18% of the market in 2023.
Anti-static Foam Packaging Market Sales: The global anti-static foam packaging market is anticipated to accumulate a market value of US$ 4,076.28 Million in 2023 and is expected to garner a valuation of US$ 8,550 Million by exhibiting a CAGR of 7.68 % in the forecast period 2023 to 2033.
Packaging Tapes Market Volume: The packaging tapes market is projected to witness a rising growth outlook during the forecast period. A new forecast by FMI anticipates that rigid packaging tape market revenue will rise from 2022 to 2032 and is anticipated to offer a growth opportunity of US$ 45.3 Billion.
Packaging Bins Market Types: The packaging bins market is expected to expand its roots at an average CAGR of 4.5% during the forecast period. The market is likely to hold a revenue of US$ 2.04 Billion in 2023 while it is anticipated to cross a value of US$ 3.17 Billion by 2033.
Packaging Laminates Market Analysis: The packaging laminates market size is projected to be valued at US$ 6,274.7 Million in 2022 and is expected to rise to US$ 10,410.2 Million by 2033. The sales of packaging laminates are expected to grow at a significant CAGR of 5.1% during the forecast period.
Packaging Barrier Films Market Outlook: Plastic is known to render protection to pharmaceutical products against odor and oxygen, moisture, water vapor transmission, bacteria, and contamination. Thermoforming films are preferred as they do have higher visibility and are puncture-resistant as well. Along these lines, companies like Aptar Group make way for Blister Packaging.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn | Twitter | Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
