In Belgium, the sold production of flat pallets and wooden pallet collars grew incrementally between 2013 to 2018, showing a steady increase each year. However, 2019 and 2020 saw declines of -9.93% and -3.65% respectively. The year 2021 marked a robust recovery, with a year-on-year growth of 25.29%, indicating a strong rebound in demand. While there was a slight decline of -3.13% in 2022, the production volume in 2023 increased by 2.64%, reaching 37.953 million items. This trend suggests a moderate but consistent recovery.
Looking ahead, the forecasted data from 2024 to 2028 indicates a continued upward trend. The compound annual growth rate (CAGR) for the next five years is projected at 1.86%, translating to a forecasted growth rate of 9.68% over this period. The production volume is expected to increase consistently, reaching 42.683 million items by 2028.
Future trends to watch for include:
- The potential impact of economic fluctuations on production volumes
- Changes in supply chain dynamics and material costs
- Technological advancements in pallet manufacturing
- Shifts in environmental regulations and sustainability practices
