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Report Overview
The North America pallet market attained a value of USD 26,031.60 million in 2023. The market is further expected to grow at a CAGR of 5% during the forecast period of 2024-2032 to reach a value of USD 40,294.48 million by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Pallet Market Growth
The pallet market in North America is being driven by the significant presence of leading e-commerce websites like Amazon. The e-commerce sector especially grew in prominence in 2020 owing to elongated periods of lockdown due to the coronavirus pandemic, and, thus, the demand for pallets in storage and warehouse facilities saw a robust demand. Additionally, investments by private equity owners to sustain the pallet market provided further impetus to the market growth, especially during the pandemic. The pallet industry in North America also witnessed a growth within the pharmaceutical sector owing to the robust presence of a number of pharmaceutical players in the region.
The wood pallet dominated the region being inexpensive. However, with the outbreak of the COVID-19 pandemic, the deployment of plastic pallets that can be sanitised and washed regularly aided the market growth in 2020. The pandemic also led to the deployment of plastic pallets in the food and beverage industry owing to stringent government regulations for food safety, hence, invigorating the market growth.
North America Pallet Market Report Snapshots
North America Pallet Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The North America pallet market attained a value of USD 26,031.60 million in 2023.
The market is projected to grow at a CAGR of 5% in the forecast period of 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 reach a value of USD 40,294.48 million by 2032.
The surging demand for pallets in storage and warehouses and the robust growth of the e-commerce sector are the major market drivers.
Surging R&D activities to integrate technological features like RFID in multi-use pallets and the growing demand for sustainably produced wooden pallets are the key trends propelling the market demand.
The major regional markets of pallet in North America are Canada and the United States of America.
The several pallet types considered in the market report are wood, plastic, metal, and corrugated paper.
The significant applications of pallet are food and beverages, chemicals and pharmaceuticals, machinery and metal, agriculture, and construction, among others.
The major segments based on the structural design of pallet are block and stringer, among others.
The major players in the North America pallet market are PalletOne Inc., Herwood Inc, John Rock, Inc., TMF Corporation, ORBIS Corporation, and Kamps Inc., among others.
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