Pallet pooling is the practice of renting or leasing pallets from a shared pool. This reduces the costs related to transportation and supply chain management. Owning and maintaining an inventory of pallets can be expensive for companies. Hence pallet pooling is a good cost reducing opportunity. Wooden pallet pooling contributes to almost 90% of the global pallet pooling due to their cost efficiency over plastic pallets. However, demand for washable, hygienic and insect-free pallets are also driving demand for plastic pallets. Pooling pallets reduces the pressure of expenditure by eliminating huge payments of pallet procurement making it a cost efficient approach for sourcing pallets.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Pallet pooling is most popular in the FMCG, food & beverage and pharmaceutical industries. Wood and plastic remain the material of choice for manufacturers of pooling pallets. Pallet pooling derived from wood continues to capture a higher demand share as compared to other materials such as steel and composites. Preferred for its durability and cost efficiency, disposable plastic pallet pooling is likely to witness notable upsurge in its revenue share in the global pallet pooling market in the near future. Rapid industrialization, increasing demand from pharmaceutical industry are also factors favoring the growth of the global pallet pooling market.
The global pallet pooling market trends are as follows:
Rising costs of transportation and supply chain management
Businesses massive amounts of money on transportation and logistics services around the world. Companies are rethinking their supply chain operations in response to the growth in online sales and tight freight hauling capacity drove up shipping rates. The global transportation and materials handling market is also periodically affected by government regulations on driver and warehouse worker hours and labor. Also the transportation and logistics industry is vulnerable to the fluctuating costs of crude oil and other economic factors. This is why companies are trying to reduce expenditure on logistics as much as possible. Various new ideas are utilized by companies to reduce logistics, warehousing, storage and transportation costs. Pallet pooling is one such idea to reduce the costs that companies incur related to transportation and logistics. By not having to spend vast amounts for the procurement and maintenance of pallets, the save capital. This is one of the most important factors behind the growth of the global pallet pooling market.
Advent of new technologies in pallet pooling market
Market players are integrating radio frequency identification (RFID) tags with plastic pallets for efficient supply chain monitoring as well as proper management of pallet transportation and supply. With information stored in a microchip and transmitted via a transponder, RFID tags ensure traceability throughout the entire supply chain, right from the distribution or rental service centers to the end-use customers. Intelligent Global Pooling Systems (iGPS) Logistics LLC, for instance, was the first pallet company to incorporate RFID tags into its pallets to simplify its supply chain management.
Key benefits of the report:
- This study presents the analytical depiction of the global pallet pooling industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global pallet pooling market share.
- The current market is quantitatively analyzed to highlight the global pallet pooling market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global pallet pooling market analysis based on competitive intensity and how the competition will take shape in coming years.
Pallet Pooling Market Report Highlights
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 Key Market Players | PPS Midlands Limited, Loscam Australia Pty. Ltd., Faber Halbertsma Groep B.V., Litc-International, Eur-Pool System International, iGPS Logistics LLC, Buckhorn, CABKA Group, Demes Logistics GmbH & Co. KG, Contraload NV, Brambles Limited, Schoeller Arca Time Materials Handling Solutions Limited |
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