Wood Flat Pallet Market

The worldwide demand for flat pallets and pallet collars of wood is on the rise, with the market expected to grow at a CAGR of +2.6% from 2022 to 2030. By the end of 2030, the market volume is projected to reach 6.8B units, while the market value is forecasted to hit $74.1B. Key consuming countries include China, the United States, and Indonesia, while top exporters include Poland, Germany, and the Czech Republic. Import and export prices have also seen significant growth over the years, with fluctuations in trend patterns. Overall, the market is poised for continued growth in the near future.

Market Forecast

Driven by increasing demand for flat pallets and pallet collars of wood worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 6.8B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market value to $74.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Flat Pallets And Pallet Collars Of Wood

In 2022, the amount of flat pallets and pallet collars of wood consumed worldwide declined slightly to 5.5B units, almost unchanged from the previous year's figure. The total consumption volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption reached the peak volume at 5.6B units in 2021, and then fell modestly in the following year.

The global wood flat pallet market revenue expanded slightly to $49.7B in 2022, rising by 3.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.1B units), the United States (768M units) and Indonesia (194M units), together accounting for 37% of global consumption. Pakistan, Brazil, Germany, Mexico, France, Spain, Italy and Iran lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Spain (with a CAGR of +11.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest wood flat pallet markets worldwide were China ($12.1B), the United States ($6.4B) and Brazil ($1.8B), with a combined 41% share of the global market. Germany, Indonesia, Pakistan, Spain, Italy, Mexico, France and Iran lagged somewhat behind, together accounting for a further 19%.

In terms of the main consuming countries, Spain, with a CAGR of +13.6%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of wood flat pallet per capita consumption in 2022 were Spain (2.5 units per person), the United States (2.3 units per person) and Italy (2 units per person).

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +11.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Flat Pallets And Pallet Collars Of Wood

In 2022, approx. 5.6B units of flat pallets and pallet collars of wood were produced worldwide; approximately reflecting 2021 figures. The total output volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 12%. Over the period under review, global production reached the peak volume in 2022 and is expected to retain growth in years to come.

In value terms, wood flat pallet production amounted to $50.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. Over the period under review, global production reached the peak level at $50.2B in 2019; afterwards, it flattened through to 2022.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.1B units), the United States (771M units) and Indonesia (194M units), with a combined 37% share of global production. Pakistan, Brazil, Mexico, Spain, France, Germany, Poland, Italy and Iran lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Spain (with a CAGR of +12.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Flat Pallets And Pallet Collars Of Wood

In 2022, approx. 417M units of flat pallets and pallet collars of wood were imported worldwide; with a decrease of -14.3% on 2021 figures. Overall, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 40%. As a result, imports attained the peak of 486M units, and then dropped in the following year.

In value terms, wood flat pallet imports soared to $5B in 2022. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 58% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, Germany (78M units), distantly followed by Italy (33M units), Belgium (29M units), France (28M units), the Netherlands (26M units) and the UK (21M units) were the key importers of flat pallets and pallet collars of wood, together mixing up 51% of total imports. Austria (16M units), Poland (15M units), the Czech Republic (14M units), Sweden (13M units), Denmark (12M units), the United States (11M units) and Slovakia (7.6M units) took a little share of total imports.

Imports into Germany increased at an average annual rate of +6.4% from 2012 to 2022. At the same time, the UK (+16.0%), Slovakia (+8.7%), Italy (+8.3%), Austria (+4.4%), Poland (+3.5%), Sweden (+3.2%), the Czech Republic (+2.0%) and Belgium (+1.9%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in the world, with a CAGR of +16.0% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, France (-1.5%), the United States (-2.2%) and Denmark (-3.1%) illustrated a downward trend over the same period. Germany (+4.2 p.p.), the UK (+3.4 p.p.) and Italy (+2.8 p.p.) significantly strengthened its position in terms of the global imports, while the United States, Denmark, the Netherlands and France saw its share reduced by -2.2%, -2.8%, -3.1% and -4.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($1B) constitutes the largest market for imported flat pallets and pallet collars of wood worldwide, comprising 20% of global imports. The second position in the ranking was taken by the Netherlands ($404M), with an 8.1% share of global imports. It was followed by Italy, with an 8% share.

In Germany, wood flat pallet imports increased at an average annual rate of +9.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+12.5% per year) and Italy (+13.1% per year).

Import Prices By Country

In 2022, the average wood flat pallet import price amounted to $12 per unit, increasing by 44% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood flat pallet import price increased by +94.0% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($16 per unit), while the UK ($4.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+14.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Flat Pallets And Pallet Collars Of Wood

In 2022, overseas shipments of flat pallets and pallet collars of wood increased by 1.7% to 453M units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, wood flat pallet exports soared to $5.9B in 2022. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 59%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, Poland (96M units), distantly followed by Germany (38M units), the Czech Republic (24M units) and Ukraine (24M units) represented the major exporters of flat pallets and pallet collars of wood, together comprising 40% of total exports. Lithuania (18M units), Latvia (16M units), Belgium (15M units), the United States (14M units), the Netherlands (14M units), France (11M units), Italy (11M units), the UK (11M units) and Sweden (8.5M units) held a minor share of total exports.

Exports from Poland increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Ukraine (+24.8%), the UK (+10.3%), the United States (+5.2%), Germany (+2.4%), Italy (+2.2%), Sweden (+2.1%) and Lithuania (+1.2%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter exported in the world, with a CAGR of +24.8% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. By contrast, Belgium (-1.1%), Latvia (-1.1%), France (-2.7%) and the Netherlands (-4.1%) illustrated a downward trend over the same period. While the share of Poland (+7.3 p.p.) and Ukraine (+4.4 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-1.6 p.p.), the Czech Republic (-2.2 p.p.), Belgium (-2.3 p.p.), Latvia (-2.3 p.p.), France (-2.4 p.p.) and the Netherlands (-4.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($1.2B) remains the largest wood flat pallet supplier worldwide, comprising 20% of global exports. The second position in the ranking was held by Germany ($538M), with a 9.1% share of global exports. It was followed by the Czech Republic, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland stood at +15.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+8.7% per year) and the Czech Republic (+7.7% per year).

Export Prices By Country

In 2022, the average wood flat pallet export price amounted to $13 per unit, surging by 25% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood flat pallet export price increased by +100.3% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 39%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($24 per unit), while the United States ($9.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+14.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform