Wire Cage Pallet Collar Market Outlook (2023 to 2033)
The global wire cage pallet collar market is currently valued at US$ 27650.5 million in 2023 and is anticipated to expand at a CAGR of 4.7%. Owing to the advances in packaging the market is likely to surpass a valuation of US$ 43769.3 Million by 2033.
The main factors responsible for market growth are -
Growing usage in end-use industries
Technological advancement in packaging
Growing logistics industry
North America to dominate the wire cage pallet collar market.
Wire cage pallet collar is a very popular item used across different sectors and is a lightweight and robust storage solution ideal for a wide range of different applications. Wire cage pallet collar packaging provides product protection and increased storage space. It has a wooden base and above that, there is a cage-like structure that can be used for stacking and handling purposes. These wire cage pallet collars come in different sizes and are customizable according to the need and are made up of stainless and aluminium.
The wire cage pallet collar is proven to be an innovative packaging solution mainly due to its durability, the wooden base of the wire cage pallet collar is made up of high-quality plywood, and the cage is made up of high tensile strength wire quality.
The growth in various end-use industries such as food & beverage, chemical, pharmaceutical, automotive, and construction agriculture is expected to drive the global wire cage pallet collar market during the forecast period. The increasing demand for environment-friendly packaging solutions and the development of various cut-edge technologies are some of the major wire cages pallet collar market drivers.
The wire cage pallet collar market is flourishing on the back of the increasing adoption of modern and innovative packing solutions. Wire cage pallet collar are the best option for the warehouse as they can keep the goods in one place and helps in saving space for storage due to their stacking ability. Another factor anticipated to drive the sales of wire cage pallet collar market is increased demand for un-dimensional packaging of products to save time and lower the labor cost.
North America is expected to be the largest propeller in terms of volume and value because of the increased use of protective solutions in developed countries as compared to conventional packaging solutions. The rapid growth of end-use industries such as food& beverages, pharmaceuticals, automotive, and logistics drive the growth of the wire cage pallet collar market in Asia Pacific. Also, the growth in the import-export of commodities in countries of Asia is augmenting the demand for the wire cage pallet collar market.
FMI research indicates that wire cage pallet collar packaging shows great potential for not only durability but improving outcomes for buyers in different areas. The wire cage pallet collar packaging provides benefits like:
Improved storage capacity
Increased efficiency
Safety
Ease of mobility and handling
Reduce workplace safety issues
Maintain a lean packaging process
To fulfill these benefits, the manufacturer of wire cage pallet collar offers a wide selection of sizes, shapes, and materials with easy-to-handle formats to bring out the best in packaging. Some of the major key player operating in wire cage pallet collar market are Daywalk, Loscam, Kronus, Chep, and Pallet Market Inc. The key players in the market are focusing on developing innovative products to gain maximum revenue.
For instance, in October 2021, DAYWALK launched its latest innovation, the Cylinder Pallet Transport system. This special type of pallet is designed to transport cylindrically shaped complicated equipment like hydraulic cylinders and shafts. The launch of DAYWALK’s new Cylinder Pallet is a perfect expression of the innovation that sets DAYWALK apart.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Wire Cage Pallet Collar Market Overview
A wire cage pallet is a modern packaging solution for 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 collar 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 which holds 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 logistic industry and are very popular in North America, Europe and Asia-Pacific and is gaining popularity across the world due to its space optimisation capability.
What Accelerates the Growth of Wire Cage Pallet Collar Market?
The Wire cage pallet collar market is mainly driven due to ability to optimise space when used as a storage solution and saves space when transported from one point to another.
These wire cage pallet collar also provides quick and easy way of handling goods and assembling. Another factor that leads to the rise in demand of 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 wire cage pallet collar market is flourishing across the world and also due to its modern and innovative packaging solution.
Find your sweet spots for generating winning opportunities in this market.
What are the Key Challenges that Might Restrain the Growth of Wire Cage Pallet Collar Market?
Despite having an edge over other packaging solutions due to its innovative and modern way, there are some factors which restrain the growth of wire cage pallet collar. One factor which is becoming an obstacle for wire cage pallet collar is that its expensive than wooden pallet. And not only that, wooden pallet is considered to be cheaper, renewable and recyclable option than that of wire cage pallets.
Another factor which retrains the growth of wire cage pallet 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 which 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 plastic body also has an unibody design and doesn’t absorb moisture.
Wire Cage Pallet Collar Market: Key players
Some of the players in wire cage pallet collar market are
Personalize your report by choosing insights you need and save 40%!
Wire Cage Pallet Collar Market: Regional Outlook
There is a high preference of cage pallets in North America and Europe as these regions require technologically advanced packaging solutions and due to 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 which will drive the market growth of cage pallet.
