Mexico Pallet Market Report and Forecast 2024-2032

Mexico Pallet Market Outlook

The Mexico pallet market size reached a value of around USD 869.92 million in 2023. The market is expected to grow at a CAGR of 6.00% between 2024 and 2032, reaching a value of around USD 1473.74 million by 2032.

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Key Trends in the Market

A pallet is a flat, moveable, horizontal platform having a bottom deck and a superstructure attached. It is utilised in tertiary packaging to make it easier to transport and ship larger packages of commodities and materials with the use of various material handling tools including cranes, lift trucks, front loaders, and conveyors. A pallet is a lightweight, affordable framework that is also utilised for loading big items into trucks, ships, and aeroplanes with a forklift.

• One of the main trends propelling the Mexico pallet market expansion is the expanding use of plastic pallets in the food and beverage, pharmaceutical, chemical sectors due to their superior properties like lightweight, simple handling, and shock absorption among others.

• The Mexico pallet market is fuelled by the use of pallets for the transportation of larger products such as motorcycles. Multiple-trip pallets are being introduced by manufacturers as they offer a lower cost per trip, reduce solid waste, and boost operational efficiency.

• The demand for logistics services is being fuelled by the booming e-commerce sector, supported by rising sales of smartphones, laptops, and tablets as well as increased internet usage. This, together with an increase in disposable income, is driving up the demand for pallets in Mexico.

Mexico Pallet Market Analysis

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Based on type, the market is divided into wood, plastic, metal, and corrugated paper. The market, on the basis of structural design, is segmented into block, and stringer, among others. On the basis of end use, the market is categorised into food and beverages, chemicals and pharmaceuticals, machinery and metal, and construction, among others. The regional markets for pallets in Mexico are divided into Baja California, Northern Mexico, The Bajio, Central Mexico, Pacific Coast, and Yucatan Peninsula.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Mexico pallet market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Tarimex

• Pallet Desing & Suport de México, S.A. de C.V. (PD&S)

• Ongweoweh Corp.

• NOVATEC PAGANI S.A. DE C.V.

• PECO Pallet

• Riteway Pallet Manufacturing Co., Inc.

• Others

Market Share by Type

Plastic pallets are one of the fastest-growing pallet types in the Mexico pallet market. Companies aiming to reduce waste frequently choose this type of pallet since manufacturers can recycle them or melt and reform them into other production supplies. Plastic pallets are also increasingly popular and used more frequently since they can store items without running the risk of pests or termites. 

Furthermore, plastic pallets are highly recommended in sectors like food and beverage, chemicals, and pharmaceuticals, among others, where there is a high risk of chemical contamination. Plastic pallets are strong, rigid constructions that give heavy items the mechanical stability they need to be handled safely and without losing any of their quality. To make moving items easier, plastic pallets are designed to be compatible with tools like forklifts, pallet jacks, and front loaders. Such factors are propelling the Mexico pallet market growth. 

Market Share by End Use

Food and beverages account for a significant Mexico pallet market share since pallets stabilise cans, bottles, boxes, and cartons while being transported and distributed. Meanwhile, in the growing pharmaceutical sector, pallets are increasingly being used for the transport of bulk medications and products with a long shelf-life.

In the chemical industry, pallets are widely used to transport a range of products in powder, granule, and liquid form. Pallets are used to load, unload, and transport chemicals, minerals, metals, and plastic polymers such as PET, PP, ABS, and others. The chemical industry frequently uses wooden pallets for export purposes because of their affordability and wide availability. However, chemical companies have started to use plastic pallets more and more in recent years due to its strength, sustainability, and hygienic properties, thus aiding the pallet market in Mexico.

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Competitive Landscape

Pallet Desing & Suport de México, S.A. de C.V. (PD&S), headquartered in Jalisco, Mexico and founded in 2006 is a well-known pallet producer and collector. The company is committed to developing innovative pallet and packaging solutions to help various industries run more efficiently. Due to its dedication to the environment, PD&S provides full services for the collection, recycling, and production of packaging.

Ongweoweh Corp., founded in 1978 and headquartered in New York in the United States, is a Native American-owned pallet management business that offers supply chain optimisation programmes, recycling services, and procurement of pallets and packaging. Ongweoweh is committed to offering customers ongoing innovation and supply chain optimisation. Its products include new pallets, distribution packaging, and recycled pallets such as plastic and composites, among others.

PECO Pallet, established in 1997 with headquarters in Illinois, United States, offers excellent rental block pallets, attentive client care, and significant supply chain savings. Leading manufacturers utilise PECO's red wood block pallets to carry groceries and consumer goods to stores across the United States, Canada, and Mexico. PECO Pallet is dedicated to offering the best pallets and customer care, thoroughly checking, sorting, cleaning, and repairing pallets as they pass through a depot.

Other market players include Tarimex, NOVATEC PAGANI S.A. DE C.V., and Riteway Pallet Manufacturing Co., Inc., among others.

Key Highlights of the Report