Albany, New York, Dec. 06, 2017 (GLOBE NEWSWIRE) — A multitude of companies of varying sizes operate in the global pallet display market. TMR observes that a number of market players are concentrating on increasing their product portfolio and bring innovation in product design. Xinapse Systems Ltd., DS Smith Plc, Georgia-Pacific LLC, FFR Merchandising Company, Marketing Alliance Group, Pratt Industries Inc., Sciencesoft USA Corporation, Toshiba Medical Systems Corporation, Sonoco Products Company, Smurfit Kappa Group PLC, WestRock Company, U.S. Corrugated, Inc., Creative Displays Now, Mirada Medical Limited, and Siemens Healthineers rank among the top companies functioning in the industry. Many of these player are expected to further expand operation in emerging markets such as Brazil, China and India in order to tap into the imminent growth opportunities present in these countries.
The latest report published by Transparency Market Research (TMR) reveals that the global market for pallet display will stand at over US$ 1,600 Mn by 2026-end. Application of pallet display is expected to increase at a sound pace over the next couple of years. This is primarily due to growing urbanization in Asia Pacific, Latin America and the Middles East & Africa (MEA), which implicates construction of hypermarkets and supermarkets in these regions. Rapid development of the retail sector in emerging markets is expected to influence of the demand for pallet displays.
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Corrugated Board a Leading Segment
Increasing use of corrugated board based pallet displays for showcasing various types of products is driving the growth of the segment. The corrugated board pallet segment is estimated to reach a valuation in excess of US$ 1,000 Mn by 2026-end. This segment is projected to exhibit a CAGR of 4.8% during the forecast period. The segment currently commands for a considerable market share in terms of revenue. Demand for corrugated pallet displays will remain strong owing to their growing use in large retail outlets. Moreover, brands are using corrugated cardboard pallet displays showcasing of larger volumes of products.
North America to Lead the Global Market for Pallet Displays
In terms of revenue, market in North America is expected to remain highly lucrative over the next couple of years. The region’s market is likely to surge at a CAGR of over 4% during the forecast period. Meanwhile, regions such as Europe, MEA, Latin America and APEJ are also expected to present market opportunities in the forthcoming years. Factors such as increasing brand penetration and robust development of the commercial infrastructure is anticipated to support the growth of the market in these regions.
Full Pallet Display a Top Selling Product Type
On the basis of product type, the full pallet display segment is expected to retain it top position over 2026. Currently, the segment represent for more than 46% revenue share of the market and is expected to surpass a valuation of US$ 745 Mn by 2026-end, expanding at a CAGR of 3.7%.
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Convenience Store Will Continue to be One of the Largest End User of Pallet Displays
Based on end user, the convenience store segment will a dominant position in the market during the projection period. The segment currently accounts for over one-fourth market share and is expected to reach a valuation of US$ 533.7 Mn towards the end of 2026, representing an above-average growth rate.
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