Analysis of Wire Cage Pallet Collar market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
A wire cage pallet is a modern packaging solution for the transportation or storage of different types of materials. These are used for the purpose of storage or transporting compact, bulk, or friable products. These wire cage pallet collars have a wooden base and on top of that, there is a cage-like structure inside which different materials are kept. Wire cage pallet collars are also required for stacking and handling purposes.
Wire cage pallet collars are available in various sizes according to the need of the buyer but these cage pallets also have hinges that hold the cages together and also allow every pallet collar to collapse in order to save space.
These wire cage pallet collars are mainly found in warehouses, manufacturing, or retail facilities. Wire cage pallet collars are mainly used in the logistic industry and are very popular in North America, Europe, and Asia-Pacific and are gaining popularity across the world due to their space optimization capability.
The Wire cage pallet collar market is mainly driven due to its ability to optimize space when used as a storage solution and saves space when transported from one point to another.
These wire cage pallet collar also provides a quick and easy way of handling goods and assembling. Another factor that leads to the rise in demand for the wire cage pallet collar market is that pallet cages help in keeping the goods safe and secure pilferage or tampering when used as a storage solution or handling purposes.
Wire cage pallet collars are used as a substitute to the wooden boxes, which were used earlier and one main comparison between them is that it is possible to collapse a wire cage pallet collar when not in use but that is not the case with wooden boxes. These wire cage pallet collars also have forklift entry points placed at their bottom so that these wire cage pallet collars can be easily picked up, organized, and stored without consuming more time.
Another factor due to which consumers prefer wire cage pallet collar over others is its durability, the wooden base is made up of high-quality plywood and the cage is made up of a special grade wire which has high tensile strength. These are the main factors due to which the wire cage pallet collar market is flourishing across the world and also due to its modern and innovative packaging solution.
Despite having an edge over other packaging solutions due to its innovative and modern way, there are some factors that restrain the growth of the wire cage pallet collars. One factor which is becoming an obstacle for wire cage pallet collars is that it's expensive than wooden pallets. And not only that, a wooden pallet is considered to be a cheaper, renewable, and recyclable option than that of wire cage pallets.
Another factor that retrains the growth of wire cage pallets is that sometimes when pallets become defective to use it generates many problems like creating long inbound loading time and increases freight damage risk which leads to bottlenecks further in the supply chain and hence cost more money.
There is also another factor which is having a bad effect on the pallet cage market, that is, pallet collars should be bought from one manufacturer only because if there might be a minor difference in the collars due to usage of different technology at the time of manufacturing and that difference can cause significant safety issues.
Another threat that is hampering the growth of cage pallets is the threat of substitutes. Plastic pallets and recyclable pallets are considered to be the substitutes for cage pallets as they are a cheaper option and the plastic body also has a unibody design and doesn’t absorb moisture.
Some of the players in wire cage pallet collar market are
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There is a high preference for cage pallets in North America and Europe as these regions require technologically advanced packaging solutions and due to the high demand for safe transportation of food. In the Asia-Pacific region due to rapid industrialization in developing countries like India, China, South Korea, and many others and explosive growth of e-commerce are the two main factors that will drive the market growth of cage pallets.
Wire cage pallet market collars are anticipated to have high growth during the pandemic as the e-commerce industry has also experienced exponential growth during the pandemic. During the pandemic, people’s interest in e-commerce platforms have increased, especially in developing countries where e-commerce is less common.
This growth of the e-commerce industry has put the supply chains under more pressure to improve shipping and logistics. Online orders are usually smaller and occur regularly, which requires more assets for inventory management. Hence, there is a need for pallets for e-commerce-based logistics, which will drive the growth of the cage pallet market. Furthermore, sustainable packaging is also expected to increase the growth of cage pallet market size.
However, due to covid, there is also a disruption in the supply chain, due to unavailability of the product in the market, restrictions, and regulations imposed, due to which there is a delay in the operations.
Also, the strict regulations and framework by the government have led to limit the production practices with a limited number of workers working in the factory which has severely impacted the growth of the cage pallet market.
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NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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The wire cage pallet collar market is valued at US$ 2.2 Billion.
The wire cage pallet collar market is likely to register a CAGR of 4.5% during the forecast period.
The North America holds most opportunities the wire cage pallet collar market.
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