IMARC Group, a leading market research company, has recently releases report titled “North America Pallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global North America pallet market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The North America pallet market size reached 3.0 Billion Units in 2022. Looking forward, IMARC Group expects the market to reach 3.8 Billion Units by 2028, exhibiting a growth rate (CAGR) of 3.64% during 2023-2028.
A pallet is a flat transport structure used to support goods during storage and transportation. Pallets are typically made of wood, plastic, or metal, and are designed to be lifted by forklifts, pallet jacks, or other material handling equipment. Pallets enable efficient handling and transportation of goods, as they can be easily stacked and moved using mechanical equipment. They also provide protection for goods during transportation, as they prevent them from being damaged or crushed. Pallets are widely used in logistics and supply chain management, and their standardization has led to the development of international shipping standards.
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The increasing demand from the food and beverage industry represents a significant factor driving the market growth in the region. This is primarily attributed to the rising demand for packaged food and beverages. In addition to this, the significant expansion in the e-commerce industry is contributing to the growth of the market. In line with this, pallets are extensively used to transport goods from distribution centers to warehouses and retail locations, thus driving the market growth. Apart from this, other factors, such as technological advancements in pallet design and manufacturing and the widespread usage of palters in pharmaceutical industry, are creating a positive outlook for the market in the region.
The report has segmented the market into the following categories:
Breakup by Structural Design:
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