In 2023, the market for moulded wood pallets is anticipated to expand dramatically, with global revenues rising 2.0% annually. According to a recent forecast by FMI, sales of moulded wood pallets will increase from US$ 2.70 billion in 2023 to US$ 4.66 billion in 2033. The market for moulded wood pallets is forecast to grow at a CAGR of 5.6% during this time.
The demand for molded wood pallets in Canada is estimated to increase by nearly 5.1% year on year in 2021, while total sales will reach a valuation of US$ 183.2 million.
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Molded wood pallets are sanitized during the molding process and meet the most stringent phytosanitary regulations such as ISPM-15 for export. As food and pharmaceutical companies are diligent about using pallets free of contaminants, the study finds that capitalizing on these companies will work to the advantage of molded wood pallets manufacturers.
According to the study, opportunities abound for market stakeholders in logistic & transportation sector, on account of increasing industrial activities along with rapid proliferation of trade agreements among various countries. Recognizing the recent developments in manufacturing and construction industries, manufacturers are likely to explore newer opportunities, with ‘sustainability’ at the forefront of attracting attention. Aligning with evolving end users’ trends and upgrades in regulatory norms also remains an important focus area of the manufacturers.
Growth prospects of the molded wood pallets market, as identified by the study, are high in EU5. Higher concentration of players in the region and their efforts to push sales and distribution through online channels are emerging as a strategic move. Further, Asia Pacific, particularly eastern region, is expected to represent higher incremental opportunities, backed by hefty investments in industrial sectors in recent years, which has primarily influenced the adoption of pallets.
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Top Key Players Covered-
Litco International Inc,, Millwood, Inc,, Snyder Industries, Inc,, Custom Equipment Company Inc,, The Nelson Company,, Beacon Industries Ltd,, NKA Paletten GmbH,, Brambles Ltd,, Engelvin Bois Moule S.A,, Nefab Group,, Presswood International BV,, ENNO Marketing Pvt Ltd,, CABKA Group GmbH,, Schoeller allibert services b.v,, Loscam Australia pty ltd,, Craemer GmbH,, Kronus Group,, Linyi Kunpeng Wood Co., Ltd,, JP Pallets,, Taik Sin Timber Industry Sdn Bhd
Key Points Covered in Molded Wood Pallets Market
- Market estimates and forecast 2014-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Molded Wood Pallets and How to Navigate
- Recommendation on Key Winning Strategies
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The bottom-up and top-down approaches have been used to estimate the Molded Wood Pallets market by type, end-use industry and region. The research methodology is used to calculate the market size includes the following steps:
The size of the Molded Wood Pallets market has been derived from the aggregation of the market shares of the leading players for each product, and the forecast is based on the analysis of market trends, such as pricing and consumption of Molded Wood Pallets in various end-use industries.
The key players in the Molded Wood Pallets market have been identified through secondary research, and their revenues have been determined through primary and secondary research.
The size of the Molded Wood Pallets market, by region, has been calculated by using the market sizes of each product in each end-use industry.
The size of the Molded Wood Pallets market for each end-use industry, in terms of value, has been calculated by multiplying the market shares by the global value.
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