LONDON--(BUSINESS WIRE)--The global pallet container market is expected to grow at a CAGR of more than 2% during the period 2017-2021, according to a new market research study by Technavio.
The report categorizes the global pallet container market by end-user into main segments comprising of the automotive industry and the retail industry. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increased focus on the supply chain optimization
The supply chains in most of the manufacturing countries account for almost 50%-70% of the total expenses along with the growing concerns about emissions of greenhouse gases. The manufacturing and retail industries are increasing focus on an effective supply chain as one of the critical success factors. As a part of the sustainable business strategy, manufacturers are significantly contributing to the supply chain optimization by using returnable transport packaging product such as pallet containers. Operationally, pallet containers help in reducing the product damage; overall packaging cost; labor cost; product damage; energy use; and warehouse and transport space.
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Market trend: innovation in the packaging design of the pallet containers
The leading vendors in the pallet container market are increasingly focusing on the product design innovations to improve the material handling activities such as storage and transportation in the supply chain. Also, increased focus on the reduction of the logistics cost is driving vendors operating in the pallet container market to increase their R&D activities for bringing advanced and new products in terms of product safety, improved design, improved ergonomics, and recyclability.
According to Sharan Raj, a lead analyst at Technavio for warehouse and storage research, “Vendors have developed pallet containers made up of corrugated cardboard for meeting the demand for lightweight pallet containers from the global air cargo market. Similarly, the CABKA Group has developed pallet containers with a capacity of holding 1,400 liters. This Giant Pallet Box is turnable, tiltable, and reversible, and has RFID transponders for increasing the traceability of the product. Such advances in the global pallet container market are expected to boost the growth of the market during the forecast period.”
Market challenge: growing environmental concerns
Pallet containers are generally made up of wood or plastic. Stringent government regulations and growing environmental concerns pollution and environmental degradation caused by pallet containers made of plastics and wood restrain the growth of the global pallet container market.
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Key vendors in the market
- AUER Packaging
- Brambles
- CABKA Group
- Olitec Packaging Solutions
- Schoeller Allibert
The global pallet container market comprises of pallet containers manufacturers, recycling specialists, management companies, and pallet pooling firms. Vendors operating in this market compete by offering customized pallet containers that meet the distinct requirements of the customers. During the forecast period, vendors are anticipated to invest significantly in developing highly advanced pallet containers by adopting new technologies, such as equipment tracking, and by diversifying their service offerings.
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