DUBAI, United Arab Emirates, Feb. 17, 2022 (GLOBE NEWSWIRE) -- The global paper pallets market is currently valued at around US$ 633 million, and is anticipated to progress at a CAGR of 5.6% to reach US$ 983 million by 2029.
Banking on superior design and performance parameters when compared with wooden pallets, paper pallets continue to be a strong potential contender holding the future of pallet industry. Though accounting for a negligible share in the current global pallet market, paper pallet is expected to see a robust 5.6% CAGR during 2022 - 2029.
Market Size 2022 US$ 670 Mn
Market Size 2029US$ 983 Mn
Value CAGR (2022-2029)5.6%
Collective Value Share: Top 5 Companies (2021A)15%
This strong growth outlook, as suggested by a new research study of Future Market Insights (FMI), is majorly attributed to complementarity of paper pallet with the Light weighting trend. It also warrants a higher level of in-transit security and compatibility with process automation that is underway.
Adoption of paper pallet is on a slight yet constant rise owing to its resilient structure and complete recyclability. Cost efficiency would remain an add-on, opines the report. Through 2029, the current market value of paper pallets is projected to double.
​Read more...

(Bloomberg) --

After carrying the weight of the global economy since World War II with little fanfare, the lowly shipping pallet is finally commanding some respect.

Demand for the platforms used to haul nearly every consumer good or industrial ingredient is soaring amid a surge in e-commerce, forcing retailers and manufacturers to expand warehouses or pile inventories higher. At the same time, two keys to production -- cheap lumber and labor -- are scarce, and even nail costs are rising.

The result: Pallet prices have hit record highs, according to a U.S. Labor Department index, and European gauges show big jumps from the U.K. to Germany. The market may stay hot through the peak construction season in the springtime and as Covid-19 vaccines help revive restaurants and event venues -- adding to inflationary pressures rippling across supply chains.

GreenLabel Packaging is operating as an essential business to supply necessary Ecodek corrugated pallets and shipping materials to our customers. Many of the corrugated pallets are used to ship food, disinfectants, pharmaceutical, personal care and manufacturing products during the COVID-19 response.

We have precautionary measures in place to protect everyone from our employees, our families, customers and suppliers. We are following up to date CDC Guidelines, health practices, equipment and facilities cleaning and social distancing.

Ecodek Corrugated pallets remain a safe shipping solution free of contaminants (COVID-19) or bugs that can be associated with wood or plastic pallets. We are committed to providing excellent products and service as an essential part of the supply chain.

​We built the world's smallest Ecodek Corrugated Pallets.  Measuring 4 1/4” x 3” x 3/4” these little pallets feature 4-way forklift access and a die-cut bottom deck for pallet jacks; if tiny material handling equipment exist.  Each pallet has $50 worth of amazon gift cards strapped on top.  These mini pallets have been donated to be used as a prize for a golf outing hosted by a valued customer.    

Companies and manufacturers are always looking for a cost savings, and in today's shipping environment it also wants to use products that are sustainable and good for the environment. When every bit of packaging is evaluated, the wood pallet is no exception.
 
An example is Walmart’s recent launch of Project Gigaton which is aimed and eliminated one gigaton of emissions by 2030.
 
Back in 2011 Ikea estimated they would save 193 million dollars per year by switching to corrugated pallets. Ikea saved not only in weight, and recyclability but also by using a shorter pallet they were able to ship more product than if they used a wood pallet with a standard 3.5” height

 
Corrugated pallets will continue to increase in this trend of “on demand packaging” and sustainability as an alternative to the traditional wood pallet.