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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Pallets are an important tool across the logistics industry. It is a flat platform that can carry the load in the warehouse. They are basically used to store, protect, store, and transport materials during material handling. It is a portable platform and improves the operational efficiency of the warehouses by enabling easy movement of stacked goods.

The India pallets market is projected to surpass INR 25000 Cr. by the end of 2027, in terms of revenue, growing at CAGR of 13.9% during the forecast period (2020 to 2027).

Drivers

Rapid growth in the manufacturing industries in India is predominantly propelling the market growth of the pallets. According to the India Brand Equity Foundation, manufacturing industry has emerged as one of the high growth sectors in India. India is expected to become the fifth largest manufacturing country in the world by the end of the year 2020. The government aims to achieve a 25% GDP share and 100 million new jobs in the sector by 2022.

Increasing development of the warehousing industry in India is expected to drive the market growth of the pallets. Increase in the overseas trade coupled with the expansion of the warehousing industry in India is another major factor expected to propel the market growth of the pallets. Moreover, improvement in the supply chain management is creating demand for warehouses which in turn augmenting the market growth of the pallets.

On basis of states, other states dominated the India pallets market in 2019, reporting 31% market share in terms of revenue, followed by Maharashtra and Tamil Nadu, respectively.

Figure 1. India Pallets Market, Revenue Share (%), By States, 2019

India Pallets  | Coherent Market Insights

Market Restraints

The decline in international trade from India is projected to hamper the market growth of the pallets. For instance, in September 2019, India’s exports declined for the second time in three months in August as global trade tensions and sluggish demand brought down shipments by 6.1%.

An environmental concern associated with the plastic pallets and strict regulations regarding the production of plastic is projected to hamper the market growth of the pallets.

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India Pallets Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: INR 8500 Cr.
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 13.9% 2027 Value Projection: INR 25000 Cr.
Geographies covered:
  • India
Segments covered:
  • By Material Type: Wood, Composite Wood, Plastics, Metal, Paper
  • By Structural Design: Block Pallets, Stringer Pallets, Customized Pallets
  • By End Use: Engineering Products, Pharmaceutical Products, Chemical & Petroleum Products, Textile & Handicraft Products, Agriculture & Allied Products, Leather Products, Electronic Products, Marine Products, Others
Companies covered:

Saraswati Engineering Limited, Schoeller Arca TIME Material Handling Solution, Mekins Group, Swift Technoplast Private limited, Doll Plast Pallets, JIT Wood Packaging, LEAP India Pvt. Ltd., Spanco Enterprises, Bharadwaj Packaging Private Limited, Aristoplast Products Pvt. Ltd., B.D. Industries (India) Pvt. Ltd., Total Pack, and DNA Packaging Systems

Growth Drivers:
  • Rapid growth in the manufacturing industries in India
  • Increasing development of the warehousing industry
  • Improvements in the supply chain management
Restraints & Challenges:
  • Environmental concern associated with the plastic pallets and strict regulations regarding the production of plastic

Market Opportunities

Increasing utilization of pallets in the pharmaceutical industry for storing and transportation of the pharmaceutical product is projected to offer new market opportunities. Growing geriatric population coupled with the increasing prevalence of the chronic disease is creating demand for healthcare products such as drugs and devices. The growth of the pallets market is also attributed to the expansion of the pharmaceutical industry.

The advent of disposable plastic pallets as it has a lower negative impact on the environment is projected to offer potential opportunities in the near future. Growing demand for lightweight plastic pallets as they increase the payload capacity and are also easy to clean is propelling the market growth. Also, the use of disposable plastic pallets reduces the cleaning and shipping cost time. Hence, the growing use of disposable plastic pallets is projected to bolster the market growth.

Figure 2. India Pallets Market – Opportunity Analysis

India Pallets  | Coherent Market Insights

Market Trends

Expanding e-commerce industry due to growing trend of digitalization and online shopping is creating demand for logistics services is projected to foster the market growth pallet. Increasing spending by consumers on housing as well as other consumer goods due to increasing disposable income is further expected to foster the market growth of the pallets. Moreover, the expansion of chemical industries is also creating demand for the logistics of chemical products thereby fueling the market growth.

RFID chips embedded pallets are gaining popularity in the market and this is expected to spur the market growth of the pallets. RFID chips embedded pallets enable easy traceability and real-time information of the products during transportation. Moreover, it also measures the temperature, humidity, and impact during transportation. RFID chips embedded pallets are majorly used in the chemical, pharmaceutical, and food &beverage industry.

Figure 3. India Pallets Market, Revenue Share (%), By Structural Design, in 2019

India Pallets  | Coherent Market Insights

On the basis of structural design, block pallets the India pallets market in 2019 with around 64% of market share in terms of revenue, followed by stringer pallets and customized pallets, respectively.

India pallets Market - Impact of Coronavirus (Covid-19) Pandemic

Rapid surge in demand for medical supplies, household essentials, and food products as compared to the pre-Covid-19 scenario has led to the changes in product category in this distribution channel. These changes has boosted the demand for corrugated boxes, cartons, pallets and other packaging products and is further expected to foster the growth of the India pallets Market till mid quarter of 2021.

Competitive Section

Key players are operating in the India pallets market are Saraswati Engineering Limited, Schoeller Arca TIME Material Handling Solution, Mekins Group, Swift Technoplast Private limited, Doll Plast Pallets, JIT Wood Packaging, LEAP India Pvt. Ltd., Spanco Enterprises, Bharadwaj Packaging Private Limited, Aristoplast Products Pvt. Ltd., B.D. Industries (India) Pvt. Ltd., Total Pack, and DNA Packaging Systems

Pallet is a structural foundation that allows storage and transportation of goods. Pallet offer several activities such as assembling and storing of goods in the manufacturing units and warehouses. The pallets are lifted by jacking devices such as forklift, front loader, pallet jack, or cranes. The material offers an inexpensive method for handling and storage activities in various manufacturing industries.

Market Dynamics

The India pallets market has witnessed significant growth in recent past years, owing to the rising industrialization in the region. Increasing number of manufacturing units and the growing pharmaceutical and construction sector is a major factor propelling growth of the market. According to the Indian Brand Equity foundation (IBEF), the Indian pharmaceutical industry is expected to witness a CAGR of over 15% between 2015 and 2020.

Major players in the India pallets market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries such as pharmaceutical, agriculture, transportation, healthcare, electronic, construction and others. This scenario is expected to fuel the market during the forecast period.

Key features of the study:

  • This report provides in-depth analysis of India pallets market size (INR Cr. and Thousand Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the India pallets market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Saraswati Engineering Limited, Schoeller Arca TIME Material Handling Solution, Mekins Group, Swift Technoplast Private limited, Doll Plast Pallets, JIT Wood Packaging, LEAP India Pvt. Ltd., Spanco Enterprises, Bharadwaj Packaging Private Limited, Aristoplast Products Pvt. Ltd., B.D. Industries (India) Pvt. Ltd., Total Pack, and DNA Packaging Systems
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, Material Type up-gradation, market expansion, and marketing tactics
  • The India pallets market report caters to various stakeholders in this industry including investors, suppliers, India pallets manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the India pallets market

Detailed Segmentation:

  • India Pallets Market, By Material Type:
    • Wood
    • Composite Wood
    • Plastics
    • Paper
    • Metal
      • Steel
      • Others
  • India Pallets Market, By Structural Design:
    • Block Pallets
    • Stringer Pallets
    • Customized Pallets
  • India Pallets Market, By End-Use:
    • Engineering Products
    • Pharmaceutical Products
    • Chemical & Petroleum Products
    • Textile & Handicraft Products
    • Agriculture & Allied Products
    • Leather Products
    • Electronic Products
    • Marine Products
    • Others
  • India Pallets Market, By Region:
    • By Material Type
      • Wood
      • Composite Wood
      • Plastics
      • Paper
      • Metal
        • Steel
        • Others
    • By Structural Design
      • Block Pallets
      • Stringer Pallets
      • Customized Pallets
    • By End-Use
      • Engineering Products
      • Pharmaceutical Products
      • Chemical & Petroleum Products
      • Textile & Handicraft Products
      • Agriculture & Allied Products
      • Leather Products
      • Electronic Products
      • Marine Products
      • Others
  • Company Profiles
    • Saraswati Engineering Limited*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Schoeller Arca TIME Material Handling Solution
    • Mekins Group
    • Swift Technoplast Private limited
    • Doll Plast Pallets
    • JIT Wood Packaging
    • LEAP India Pvt. Ltd.
    • Spanco Enterprises
    • Bharadwaj Packaging Private Limited
    • Aristoplast Products Pvt. Ltd.
    • D. Industries (India) Pvt. Ltd.
    • Total Pack
    • DNA Packaging Systems

 “*” marked represents similar segmentation in other categories in the respective.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Material Type
      • Market Snippet, By Structural Design
      • Market Snippet, By End-Use
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. India Pallets Market, By Material Type 2017 - 2027 (INR Cr. and Thousand Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Wood
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Composite Wood
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Plastics
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Paper
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Metal
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Sub-Segment Trends
        • Steel
        • Others
  5. India Pallets Market, By Structural Design, 2017 - 2027 (INR Cr. and Thousand Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Block Pallets
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Stringer Pallets
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Customized Pallets
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
  6. India Pallets Market, By End-Use, 2017 - 2027 (INR Cr. and Thousand Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Engineering Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Pharmaceutical Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Chemical & Petroleum Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Textile & Handicraft Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Agriculture & Allied Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Leather Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Electronic Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Marine Products
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
    • Others
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
  7. India Pallets Market, By Region, 2017- 2027 (INR Cr. and Thousand Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • India
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Material Type, 2017- 2027 (INR Cr. and Thousand Tons)
          • Market Size and Forecast, By Structural Design, 2017- 2027 (INR Cr. and Thousand Tons)
          • Market Size and Forecast, By End-Use, 2017- 2027 (INR Cr. and Thousand Tons)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Saraswati Engineering Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Schoeller Arca TIME Material Handling Solution
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Mekins Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Swift Technoplast Private limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Doll Plast Pallets
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • JIT Wood Packaging
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • LEAP India Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Spanco Enterprises
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bharadwaj Packaging Private Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Aristoplast Products Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • B.D. Industries (India) Pvt. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Total Pack
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • DNA Packaging Systems
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "India Pallets Market” – global forecast to 2027

Frequently Asked Questions

The market for India pallets is forecast to surpass INR 25000 Cr. by 2027 witnessing a CAGR of 13.9% between 2020 and 2027.
Increasing development of the warehousing industry and improvements in the supply chain management are expected to fuelling the growth of the India pallets market in the region.
Expanding e-commerce industry due to growing trend of digitalization is creating demand for logistics services which is expected to favor market growth over the forecast period.
Environmental concern associated with the plastic pallets and strict regulations regarding the production of plastic is expected to hamper the growth the market during the forecast period.
Major players operating in the India pallets market include Saraswati Engineering Limited, Schoeller Arca TIME Material Handling Solution, Mekins Group, Swift Technoplast Private limited, Doll Plast Pallets, JIT Wood Packaging, LEAP India Pvt. Ltd., Spanco Enterprises, Bharadwaj Packaging Private Limited, Aristoplast Products Pvt. Ltd., B.D. Industries (India) Pvt. Ltd., Total Pack, and DNA Packaging Systems
The India pallets market was estimated to be valued around INR 8500 Cr. in terms of revenue in 2019.
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