The global plastic pallets market is anticipated to grow at a considerable CAGR 4% during the forecast period (2022-2028). The increasing application of plastic pallets in the food and beverages industry owing to the rise in the consumption of frozen and dairy foods is one of the major factors driving the growth of the market. According to the data published by National Frozen & Refrigerated Foods Association (NFRA) in 2020, the combined sales of frozen and dairy departments accounted for $125 billion in 2019. Nearly, every US household purchases from the frozen and dairy departments annually. With an average buying frequency of 70 trips per year, shoppers visited the store more than once a week to purchase from the frozen and dairy aisles. The average frozen and dairy department shopper spends $13.44 per trip.
Moreover, the frozen department generated sales of $54.6 billion delivering $918 million in growth. The most selling frozen department categories were ice cream ($6.7 billion), seafood ($4.8 billion), and complete meals ($4.5 billion). Similarly, the dairy department generated sales of $71 billion while delivering $550 million in annual growth. The most selling categories were Cheese ($16.3 billion), milk products ($13.3 billion), and eggs ($5.8 billion). In addition, more than 90.0% of households purchased cheese, eggs, milk products, and butter. Thus, the surging sales of frozen and dairy foods are anticipated to fuel the demand for the global plastic pallets market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Material
- By Type
- By End-Use
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Obris Corp., CABKA Group, and TMF Corp among others
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Plastic Pallets Market Report by Segment
By Material
- HDPE
- PP
- LDPE
By Type
- Nestable
- stackable
- Rackable
By End-Use
- Food & Beverage
- Pharmaceuticals
- Chemicals
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