There is a growing market for recycled and upcycled pallets: Jay Wood Industry’s Shah
supply chain industry is witnessing a growth in operations as both e-commerce and quick commerce is rising in India. This has pushed up the market for wooden pallets — used for stacking and storing goods and are designed to provide stability to the item.
According to Jay Deepak Shah, CEO & MD of Jay Wood Industry, the Indian market for wooden pallets has seen significant growth over the years, and it's poised to continue this upward trajectory.
“Between 2024 and 2032, the market is expected to grow at a compound annual growth rate (CAGR) of about 6.8%, driven by several key factors. One of the main drivers is the increasing demand for pallets, which play a critical role in simplifying loading and unloading processes and ensuring the safe delivery of goods. This demand is being further fuelled by the rapid expansion of the e-commerce and logistics sectors in India, which rely heavily on efficient and durable packaging solutions,” he said.
In 2022, the Indian pallet market was valued at approximately $946.8 million, and it's projected to reach $1,604.5 million by 2030.
Wooden pallets, in particular, are becoming more attractive as they can be reused multiple times, and align well with the rising awareness around sustainable business practices.
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