July 14, 2024
Plastic Crates Market

The Increasing Use Of Reusable Packaging Solutions Is Anticipated To Open Up New Avenue For The Plastic Crates Market

Market Overview:

Plastic crates are reusable plastic containers or bins used for storing, transporting, and distributing various products. They are made from extruded or injection-molded plastics such as Polypropylene (PP), High-density polyethylene (HDPE), and Low-density polyethylene (LDPE). Plastic crates find wide applications across industries such as food & beverages, chemical, pharmaceutical, automotive, and agriculture due to their durable and lightweight nature. They help reduce product damage and aid in easy movement of goods.

The Plastic Crates Market was valued at US$ 3.78 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Dynamics:

Growing demand from the food & beverage industry is a major factor fueling growth of the plastic crates market. Plastic crates are extensively used in the transportation and storage of various food products, beverages, fruits & vegetables within the food supply chain. They are preferable over wood crates as they are moisture-proof, vermin-proof, and ensure longer shelf-life of stored items. Furthermore, increasing use of reusable plastic packaging solutions in e-commerce and retail industries is also driving market growth. Plastic crates provide effective brand promotion owing to large surface area for printing logos and product information. In addition, development of innovative designs of plastic crates such as nestable, stackable solutions for efficient transportation is further expected to boost their demand over the forecast period.

Segment Analysis

The plastic crates market can be segmented based on material type, product type, end use, and region. Based on material type, the polyethylene terephthalate (PET) segment dominates the market due to high impact strength, low permeability, and recyclability of PET material. Based on product type, nestable crates are the leading segment as they offer modular design and efficient space utilization.

PEST Analysis

Political: Stable political environment in many regions boosts investments in end use industries like food and beverages, resulting in increased demand for plastic crates.

Economic: Growing economies in developing nations increasing their spending power, resulting in higher demand for consumer goods that require plastic crates for transportation and storage.

Social: Changing lifestyles and rising health awareness driving consumption of packaged and processed food and beverages, accentuating the need for plastic crates.

Technological: Advancements in plastic material properties improving performance, design, and quality of crates along with reducing costs through automation.

Key Takeaways

The global Plastic Crates Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing consumption of food and beverages globally. The market size for 2023 is estimated to reach US$ 3.78 billion.

North America dominates the market currently due to strong demand from end use industries. Asia Pacific is expected to grow at the fastest pace during the forecast period, supported by rapid industrialization and expanding middle class in the region.

Key Players operating in the plastic crates market are Craemer Holding GmbH, Vaibhav Industries, Brambles Limited, Supreme Industries Limited, Nefab Group, Myers Industries, Allibert Group, DS Smith Plc, Rehrig Pacific Company, TranPak Inc, Schoeller Allibert, Buckhorn, USA Plastic Molders, Plastic Emballages, and WestRock Company. Craemer Holding GmbH specializes in nestable plastic crates. Brambles Limited has a wide geographic presence with plastic crates for both durable and single-trip applications.

Reasons to Purchase Plastic Crates Market Report:

1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.

3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Plastic Crates Market.

FAQ’s

Q.1 What will the market development pace of the Plastic Crates Market?

Q.2 What are the sales, revenue, and price analysis of the top players of the Plastic Crates Market?

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*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it