The India pallet market size reached 207.8 Million Units in 2023. Looking forward, IMARC Group expects the market to reach 357.3 Million Units by 2032, exhibiting a growth rate (CAGR) of 6% during 2024-2032.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
207.8 Million Units |
Market Forecast in 2032
|
357.3 Million Units |
Market Growth Rate 2024-2032 | 6% |
A pallet is a wooden structure used for storing goods and transporting freight. It uses pallet collars, stretch wraps, adhesives, and other means of stabilization for securing goods. Over the years, the design of pallets has evolved to enable the double stacking of fragile materials. In India, with the rising penetration of the Internet of things (IoT) and the emerging trend of automated handling systems, there has been a significant demand for high-quality pallets, which offer operational efficiencies throughout supply chains.
The India pallet market is primarily driven by rapid urbanization and industrialization. The growing pharmaceutical and chemical industries have created the need for safer and reliable transportation, storage, and material handling activities, thus propelling the growth of the market. Additionally, the increasing number of supermarkets and hypermarkets and rising construction and housing activities across the country have escalated the demand for pallets. Furthermore, manufacturers are developing reusable and recyclable pallets that provide a lower cost per trip and environmental impact.
IMARC Group provides an analysis of the key trends in each sub-segment of the India pallet market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on type, application and structural design.
Breakup by Type:
Breakup by Application:
Breakup by Structural Design:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
---|---|
Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | Million Units |
Segment Coverage | Type, Application, Structural Design, Region |
Region Covered | North India, West and Central India, South India, East India |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The India pallet market reached a volume of 207.8 Million Units in 2023.
We expect the India pallet market to exhibit a CAGR of 6% during 2024-2032.
The emerging trend of automated handling systems, along with the rising demand for pallets, as they simplify the process of loading and unloading and ensure the safe delivery of goods, is primarily driving the India pallet market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of numerous manufacturing units for pallets.
Based on the type, the India pallet market can be categorized into wood, plastic, metal, and corrugated paper. Currently, wood accounts for the majority of the total market share.
Based on the application, the India pallet market has been segregated into food and beverages, chemicals and pharmaceuticals, machinery and metal, construction, and others. Among these, food and beverages currently hold the largest market share.
Based on the structural design, the India pallet market can be bifurcated into block, stringer, and others. Currently, block exhibits a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where West and Central India currently dominates the India pallet market.