Growth Drivers, Technological Advancements & Challenges in Pallet Industry
Wooden pallets are the backbone of e-commerce and fulfilment centres in India. Their affordability and durability make them the go-to choice for efficiently managing large volumes of goods. With the rise of e-commerce, orders tend to be smaller and more frequent, requiring more handling. Pallets help move and store goods effectively, maximising warehouse space. They also work seamlessly with forklifts and other material handling equipment, speeding up the order fulfilment process.
Factors Driving Demand
In India, the wooden pallet industry is on a steady growth path. The market is anticipated to increase by $806.29 million between 2023 and 2028, reaching an estimated value of US$ 1,604.5 million by 2030, with a projected CAGR of 8.83%. Several key trends are shaping the wooden pallet market globally:
