Manufacturers and retailers in the food and beverage, manufacturing, and pharmaceutical sectors are poised to create a massive expansion in the demand for shipping pallets.

A report by Persistence Market Research predicts an expanding compound annual growth rate (CAGR) over the next decade as the market value for pallets reaches US$95 Billion (AU$134 Billion) towards the end of 2029.  What's more, conventional pallets will be augmented by smart pallets, block pallets, and plastic pallets as growth continues.

The food and beverage sector will seek out more plastic and block pallets because of heightening sales of processed food products and increasing need for sustainable cold storage and transportation solutions.  More pallets will be equipped with radio-frequency identification (RFID) tags to be read by robots in processing and handling of pallets.