The North America Paper Pallet Market would witness market growth of 3.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Paper Pallet Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $231.9 million by 2031. The Canada market is experiencing a CAGR of 5.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 4.8% during (2024 - 2031).
These pallets transport packaged foods such as cereals, snacks, and beverages in the packaging industry, ensuring clean and sanitary handling. The high number of food enterprises creates a higher demand for these pallets.
Moreover, these pallets are employed in warehouses to store and organize consumer goods such as clothing, electronics, and household products. They facilitate the efficient movement of goods within distribution centres, reducing handling costs and improving logistics efficiency. Also, these pallets are used in the pharmaceutical industry to transport medical supplies, medications, and sterile equipment under hygienic conditions.
As Canada's food and beverage industry grows, there is a heightened demand for sustainable packaging solutions. As per the Government of Canada, the food and beverage processing industry were Canada's largest manufacturing sector by production value in 2022, with manufactured goods sales totalling $156.5 billion. Exports of processed food and beverage products reached a record $54.3 billion in 2022, up 14.1% from 2021, accounting for 34.7% of the production value.
Similarly, the growth of Mexico’s food and beverage industry is driving innovation in the packaging sector, including these pallets. As per the U.S. Department of Agriculture, with a growth rate of 4.3 percent and a projected GDP contribution to Mexico’s economy of $39.4 billion in 2020, the food processing industry was one of the most dynamic in the country. Hence, North America's growing food and beverage processing sector is expected to boost the demand for paper pallets in the region.
Free Valuable Insights: The Paper Pallet Market is Predict to reach USD 1.2 Billion by 2031, at a CAGR of 4.1%
Based on Type, the market is segmented into Corrugated pallets, Cardboard pallets and Honeycomb pallets. Based on End User, the market is segmented into Shipping & logistics, Pharmaceuticals, Food & beverages, and Personal care & cosmetics. Based on Load Capacity, the market is segmented into Up to 1 ton, 1-2 tons and Above 2 tons. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type
By End User
By Load Capacity
By Country
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