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.
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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...
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