The retail sector is evolving rapidly, prompting consumers to embrace convenient purchasing experiences.

Pallets play a crucial role in retail, facilitating the movement of goods from distribution centres to stores. These versatile platforms are commonly used to transport various retail products like clothing, electronics, toys, and home appliances.

Exzod India, a prominent player in pallet manufacturing, sales, and Annual Maintenance Contract (AMC) services, underscores the pivotal role of pallets in the logistics and supply chain.

The rise of organised retail and e-commerce amplifies their significance. Nitin Kalla, Founder and MD, Exzod India, emphasises the surging demand for pallets driven by the booming e-commerce industry. The need for swift deliveries and efficient warehousing has spurred the expansion of storage facilities nationwide.

Sustainability is gaining prominence in business strategies, compelling pallet suppliers to contribute to eco-friendly supply chains. Wooden pallets align with these sustainability requirements. The wooden pallet market is witnessing substantial growth, projected to reach a value of US$3.8 billion by 2032, driven by environmentally conscious packaging preferences.

Knight Frank India has released its flagship report titled ‘India Warehousing Market Report - 2023', which assessed warehousing leasing across 8 primary markets and 17 other secondary markets in India.

In the financial year 2023, the top 8 markets experienced a historic high in demand, reaching 51.3 million square feet of warehousing space. The CAGR from FY17-23 has been 24 per cent.

Notably, Mumbai, Bengaluru, and Kolkata witnessed a historically high volume of transactions in FY23. The surge in activities from the Third-party logistics (3PL), manufacturing, and retail sectors has contributed to the increased demand for warehousing, the report said.