Pallets are load-bearing materials, which are used in the transportation and storage of various products and materials. These pallets are handled by pallets jacks, forklifts, and other jacking devices.
Market Dynamics
Europe holds the dominant position in the global pallet market in 2022, with a market share of 30%, and is expected to retain its dominance over the forecast period. The developed industrial sector coupled with an increase in exports is the major factor driving the growth of the pallet market in the region. Moreover, increasing demand for plastic pallets in the food and pharmaceutical industry is further expected to fuel the market growth, owing to the food and safety compliance by the Food and Drug Administration (FDA) in the region.
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