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According to the research report, the paper pallet market will witness a growth of 1.46% at a CAGR of 2.32 which is expected to increase by USD 85.92 million for the forecast period 2021 to 2026.
This paper pallet market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers paper pallet market segmentations by product (corrugated, honey comb, and others) and geography (North America, APAC, Europe, MEA, and South America). The paper pallet market report also offers information on several market vendors, including Cortek Inc., EcoDuro Inc., Green Label Packaging, Green Ox Pallet Technology LLC , Hansen Packaging, Hurst Manufacturing Co., International Paper Co., KraftPal Technologies LTD., Lifdek Corp., and Sonoco Products Co. among others.
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Our researcher studied the historical data for years, with 2021 as the base year, and 2022 as the estimated year, and produced drivers, trends and challenges for the paper pallet market. In the COVID-19 pandemic, the demand for the paper pallet market has impacted a lot accelerating but with a holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.
Key Paper Pallet Market Driver
One of the key factors driving growth in the paper pallet market is the growing demand for hygienic packaging. There is a growing global demand for paper pallets owing to their advantages, such as being a safe and hygienic means of transportation and ensuring extended shelf life of packaged products. The global demand for hygienic product packaging across industries like electronics, consumer goods, food, pharmaceuticals, and others is rising, prompting the development of sustainable, reusable, and biodegradable paper pallets. In the US, manufacturers of paper pallets must adhere to regulations set by the Grocery Manufacturers Association (GMA), which emphasize sustainable and hygienic packaging standards. This regulatory framework has pressured manufacturers to innovate and meet stringent requirements, driving a shift from traditional pallet options like wooden and plastic pallets to paper pallets. Innovations in tubes and cores, critical components in packaging industries, have also contributed to enhancing product safety and sustainability, aligning with the broader trends towards cleaner, more efficient logistics solutions.
Key Paper Pallet Market Challenge
Raw material scarcity will be a major challenge for the paper pallet market during the forecast period. The greatest challenge faced by the global paper pallet market in 2021 was the shortage of raw materials. This was due to the negative impact of the COVID-19 pandemic on the market. There was a shortage of raw materials used in the manufacturing of paper pallets, such as paperboard, chipboard, adhesives, paperboard tubes and cores, core stock, and others. Manufacturers and suppliers of paper pallets experienced these shortages due to factors such as restrictions on imports and exports imposed by governments globally, a rise in the prices of raw materials, and a shortage of workers, which affected the manufacturing and distribution of these raw materials. The rise in the price of raw materials was attributed to export-led shortages. The COVID-19 pandemic also affected the recycling systems in the global packaging industry, including the global paper pallet market. These disruptions led to a shortage of raw materials in 2020 as a large volume of corrugated paper pallets is recycled, and most newly made corrugated paper pallets are made from such recycled materials.
This paper pallet market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the paper pallet market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the paper pallet market encompasses successful business strategies deployed by the key vendors. The paper pallet market is fragmented and the vendors are deploying growth strategies such as M&A to compete in the market.
Cortek Inc. - The company offers paper pallet products such as Honeycom Pallets and Corrugated Pallets.
Cortek Inc. - Under the unified segment, the company manufactures packaging products such as jumbo cartons, assembled partitions, corrugated plastic containers, and honeycomb products.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The paper pallet market report contains a comprehensive market knowledge and in-depth vendor landscape added to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the paper pallet market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for paper pallets in APAC. Market growth in this region will be faster than the growth of the market in the North American regions.
This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The paper pallet market share growth by the corrugated segment will be significant during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the paper pallet market size and actionable market insights on post-COVID-19 impact on each segment.
Paper Pallet Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.32% |
Market growth 2022-2026 |
USD 85.92 million |
Market structure |
Fragmented |
YoY growth (%) |
1.46 |
Regional analysis |
North America, APAC, Europe, MEA, and South America |
Performing market contribution |
APAC at 37% |
Key consumer countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Cortek Inc., EcoDuro Inc., Green Label Packaging, Green Ox Pallet Technology LLC , Hansen Packaging, Hurst Manufacturing Co., International Paper Co., KraftPal Technologies LTD., Lifdek Corp., and Sonoco Products Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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