United States Wooden Pallet Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

United States Wooden Pallet Market Growth

As per the Logistics Performance Index released in 2023 by the World Bank, the USA was ranked 17^th (along with the Republic of South Korea) for its excellent logistics infrastructure. It was ranked highly on various parameters, including the efficiency of its customs-clearing processes (3.8), presence of robust trade-related infrastructure (3.9), excellent quality of logistics services (3.9), superior shipment tracking services (4.2), timely delivery of goods (3.8), and arranging competitive prices for international shipments easily (3.4). As the United States is expected to emerge as a significant player in the global shipping industry, the demand for sustainable pallets for ensuring the safe transportation of industrial goods is expected to drive the market growth over the forecast period.

Technological advancements have prompted pallet manufacturers to make increasing investments in the integration of smart IoT sensors into new products. Pallets carry nearly 80% of the US commerce. By providing real-time information about the condition and location of goods, smart tracking systems facilitate the optimisation of logistics operations, reduce the risk of product damage, drive supply chain efficiency, and boost inventory management to achieve significant cost savings.

Cedar and red pine bark are expected to become exceedingly popular for manufacturing wooden pallets since they are a sustainable and eco-friendly option. This is expected to accelerate the market development in the forecast period.

Key Trends and Developments

Growth of International Trade; Rising Demand for Softwood Pallets; Customisation of Design and Structure; and Increasing Pallet Repairing and Recycling are the Major Trends Impacting the United States Wooden Pallet Market Growth

Nov. 7, 2023

Conner Industries, Inc. established a joint venture agreement with APAC (Anderson Pallet and Crate) to enlarge its footprint in the western region of the United States.

Nov. 1, 2023

Conner Industries, Inc. acquired Denver Reel & Pallet Company to boost its manufacturing capacity for delivering industrial packaging solutions in the ever-growing Rocky Mountain region.

May 23, 2022

Millwood, Inc. acquired a new manufacturing facility in Ohio, making it the 32^nd location nationwide. This acquisition is expected to improve the supply of whitewood pallets in the region of northeast Ohio.

September 30, 2022

Millwood, Inc. acquired Austin Pallet, which served as a co-packer of its range of CORE Erosion Control Group, to build its market presence across the country. This is Millwood’s 34^th location nationwide.

Growth of International Trade

In 2022, marine vessels transported $2.3 trillion worth of freight to and from the United States, followed by freight planes at $1.5 trillion. Hence, the surging international trade is driving the demand for wooden pallets.

Rising Demand for Softwood Pallets

Softwood pallets are obtained from gymnosperm trees, including pine and spruce, and can be manufactured in a wide range of colours, thereby enabling companies to effectively promote their brand to consumers.

Customisation of Design and Structure

Due to the diverse industrial requirements of pallets, major manufacturers are customising their dimensions to boost the market growth.

Pallet Repairing and Recycling

As per HWP Herwood Inc., nearly 80%-90% of all pallets can be recycled. This can enable various manufacturers to reduce their material costs and boost their profitability.

United States Wooden Pallet Market Trends

Softwood pallets are generally cheaper than hardwood pallets and have a comparatively lower density. Their primary constituent is timber (80%), and they enjoy an abundant market supply. They are extensively used to make doors, windows, paper, furniture, and other items. They are extremely versatile and safe to use since they are kiln-dried to prevent the growth of fungus and mould. This is expected to contribute to the market growth over the forecast period.

United States Wooden Pallet Industry Segmentation

United States Wooden Pallet Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Wood Type

• Softwood
• Hardwood

Market Breakup by Structure Design

• Block
• Stringer
• Others

Market Breakup by End Use

• Food and Beverages
• Chemicals and Pharmaceuticals
• Machinery and Metals
• Agriculture
• Construction
• Others

Market Breakup by Region

• Northeast
• Mideast
• West
• Southeast
• Southwest

United States Wooden Pallet Market Share

Based on region, the market is segmented into Northeast, Mideast, West, Southeast, and Southwest. West dominated the market and represented 22% of the overall market share in 2023. Over the forecast period of 2024-2032, the Mideast is expected to grow at a CAGR of 4.8%, as the demand for sustainable industrial packaging solutions soars.

Leading Companies in the United States Wooden Pallet Market

Major manufacturers of wooden pallets are focusing on expanding their market presence in the Rocky Mountains region to provide robust solutions for industrial packaging. With rapid technological advancements, the demand for smart wooden pallets is expected to contribute to the market expansion over the forecast period.

• Millwood, Inc.
• Anderson Pallet and Crate Inc.
• Commercial Lumber & Pallet Co
• Millwood, Inc.
• Kamps Inc.
• Palletone Inc.
• John Rock, Inc.

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.