Global Plastic Pallet Sales to Grow 6.8% Annually Through 2028

Cleveland OH, June 7, 2024 – According to the study, Global Pallets, demand for plastic pallets is projected to increase 6.8% per year to 427 million units in 2028, valued at $12 billion. Plastic pallets are expected to post the fastest growth of any product type. Rising market share for plastic pallets will be supported by their durability, long lifespans, and ease of sanitization. The exemption of plastic pallets from ISPM 15 export requirements will also continue to represent an advantage over wood pallets.

In addition, the sustainability advantages of plastic pallets will be a particularly strong driver of demand gains. Supply chain sustainability is becoming an increasingly key consideration for companies worldwide, and regulatory regimes are expected to further incentivize this goal going forward, particularly in higher-income nations with significant financial capacity for greater adoption of plastic pallets.

Use of plastic pallets is also expected to be boosted by greater desire for data collection and tracking to optimize supply chains. Due to their long lifespans, plastic pallets represent the primary material type for those looking to deploy RFID tracking technology in their pallet stocks.

The Asia/Pacific region will account for the majority of demand growth through 2028, reflecting a generally strong outlook for pallet markets in the region. However, strong growth in demand for plastic pallets is expected throughout most of the world, as greater adoption of these products for their sustainability advantages will allow for rapid growth even in Western Europe.

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