India Pallet Market Overview, 2028

In India, for industries such as FMCG, consumer durables, logistics, industrials, retail, petrochemicals, automotive, and 4 PL logistic players, demand for pallets has been rising due to growth, improvement in supply chain management, automation in both materials handling at the production and user end, and even at the storage level. Because to government programmes such as Make in India and the introduction of the GST tax system, India's manufacturing sector is set to take on and exhibit a sustainable increase. A pallet is a flat panel that supports products during transit, typically using wooden or plastic pallets. Pallets are primarily used by producers of both durable and non-durable items, as well as non-manufacturing industries such as food and beverage, retail, transportation and warehousing, and so on.

According to the research report India pallet Market Overview, 2028, published by Bonafide Research, the market was valued around USD 1300 Million in 2022. The pallets market is divided into four categories: type, application, material, and end-user. The market is divided into four material categories: wood, plastic, Metal, Corrugated and Others. Rackable, stackable, and others are the different types. It is classified as rental or non-rental according on its application. End-user industries include food and beverage, chemical, retail, pharmaceutical, and others. Food and beverage sector are dominated in the market but Pallets are likely to be utilized increasingly often in the pharmaceutical industry for both storage and distribution of pharmaceutical items, creating new business opportunities. Because of the ageing population and the prevalence of chronic diseases, there is an increased need for healthcare items such as pharmaceuticals and devices. Another reason driving the expansion of the pallets market is the thriving pharmaceutical industry. By material, the wood segment led the pallets market in terms of revenue. Wood pallets are in high demand throughout a wide range of sectors, including logistics & transportation, building & construction, etc. The majority of pallets in use today are made of wood, and they are one of the main contributors to municipal solid garbage (MSW).

According to the structural Design type Block pallets are critical storage and transportation options for any manufacturing or shipping organisation, whether local and international. Block pallets, also known as four way pallets, are made up of 12 cylinder blocks that support the top deck board. They are available in wood, plastic, and plywood. DW Despite being more robust than stringer pallets, block pallets allows forklifts and other pallet jacks to reach the pallets from all four sides. Block pallets are becoming more popular since they provide the bulk that is piled on them during transit safety.

Rapid expansion in the industrial industries in India is primarily driving the growth of the pallet industry. According to the India Brand Equity Foundation, the manufacturing industry has emerged as one of India's fastest growing industries. India is anticipated to become the world's fifth largest manufacturer. The increasing expansion of the warehousing industry in India is projected to fuel pallet market growth. Increased foreign commerce, together with the expansion of India's warehousing industry, is another important driver projected to drive pallet market growth. Furthermore, improvements in supply chain management are increasing demand for warehouses, which is boosting pallet industry development. On the basis of states, other states dominated the India pallets market reporting 31 % market share in term of revenue followed by Maharashtra and Tamil Nadu, respectively.

The Indian storage business is severely fragmented, with most facilities covering less than 10,000 square feet. More than 90% of warehouses in India are directly supervised by unorganised authority. These warehouses are typically smaller in size and have a restricted extent of automation or mechanisation. A fragmented warehouse footprint results in increased average inventory holding, which leads to severe examples of storage and handling loss caused by low levels of mechanisation. Almost 60% of India's technologically advanced warehouses are situated in five major cities: Ahmedabad, Bengaluru, Chennai, Mumbai, NVR, and Pune. Apart from these six, the two other important cities having significant warehouse capacity are Hyderabad and Kolkata.

During the months of February and January, the price of Wooden Pallets items ranges between 700 and 800 per piece. These are approximate figures based on popular product pricing.
It has dimensions of 1200mm800mm (31.5047.24) and is one of the six ISO Pallet sizes that are permitted. The square 1100mm x 1100mm (43.30′′ 43.30′′) pallet and the 1200mm x 1000mm (39.37′′ 47.24′′) pallet are the two most prevalent pallet sizes in Asia.

key player are operating in the India pallets market are Saraswati Engineering Limited, Schoeller Arca TIME Material Handling Solution, Mekins Group, Swift Technoplast Private Limited, Doll Plast Pallets, JIT Wood Packaging, LEAP India Pvt. Ltd, Spanco Enterprise, Bharadwaj packaging Private Limited, Aristoplast Products Pvt. Ltd., B.D.Industries (India) Pvt. Ltd., Total Pack, and DNA packaging System.

Considered in this report
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• India pallet market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Application Type
• Rental
• Non- rental

By Material Type 
• Wood
• Plastic
• Metal
• Corrugated
• Others

By End user Type
• Food and Beverages
• Chemicals
• Pharmaceuticals and Healthcare
• Automotive
• Transportation & Warehousing
• Consumer goods and Retail
• Engineering
• Agriculture
• Other End Use
 
By Structural Design 
• Block 
• Stringer
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. 

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to pallet market, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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