The pallet industry is larger than most people realize. Here are the key statistics that provide context for anyone involved in pallet procurement, recycling, or logistics.
Market size: The US pallet market is valued at approximately $11 billion annually. Globally, the market exceeds $80 billion. Wood pallets account for roughly 90% of the US market by volume.
Production: Approximately 500 million new wood pallets are manufactured in the US each year, using 4.5-7 billion board feet of lumber — about 40% of the nation's hardwood harvest.
Recycling: An estimated 508 million pallets are recovered for repair or recycling annually in the US. The wood pallet recycling rate exceeds 95%, making pallets one of the most recycled products in America.
In circulation: There are approximately 2 billion pallets in use at any given time in the US — roughly 6 pallets for every American. About 80% of all US commerce travels on a pallet at some point.
Pricing: New GMA 48×40 pallets range from $12-25 depending on lumber prices and region. Recycled Grade A pallets run $7-14. Grade B pallets cost $5-10. Pricing in 2022 has moderated from the extreme highs of 2021 but remains above pre-pandemic levels.
These numbers underscore the scale of the opportunity in pallet recycling. Even small improvements in recovery rates translate to millions of pallets diverted from landfills and billions of board feet of lumber saved.