July 19, 2024
Plastic Crates Market

Sustainable Packaging Solutions To Drive Growth Of The Global Plastic Crates Market

Market Overview:

Plastic crates are stackable containers that provide protective solutions for transportation and storage of various products across industries such as food and beverages, auto components, chemicals, pharmaceuticals, and others. They are made using high-density polyethylene (HDPE), low-density polyethylene (LDPE), and polypropylene. Plastic crates offer advantages such as sturdiness, durability, lightweight, and corrosion resistance. Their leak-proof and tamper-proof properties make them suitable for packaging of liquids and chemicals. Their reusability and returnability help reduce packaging waste, thereby promoting sustainability.

The global 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 Key Trends:

The plastic crates market is driven by the growing demand for sustainable and reusable packaging solutions from industries. Manufacturers are focusing on development of innovative plastic crates made from recycled plastic content to cater to the rising demand for eco-friendly products. Advent of collaborative consumption and shared economy models is fuelling the reusable plastic crates market. Providers of shared mobility services widely use plastic crates for storage and transportation of items. Stringent regulations regarding single-use plastic are further propelling the demand for durable and reusable plastic crates.

Porter’s Analysis

Threat of New Entrants: The threat of new entrants is moderate due to requirement of high investment to build production capacity and distribution channels. However, fragmented supplier landscape poses threat.

Bargaining Power of Buyers: Bargaining power of buyers is high as plastic crates market is fragmented with numerous local and regional suppliers. Buyers can negotiate on price easily.
Bargaining power of suppliers: Bargaining power of suppliers is moderate due to availability of substitute raw materials like steel and wood. However, regulated supply of plastics fuels costs.

Threat of New Substitutes: Threat of new substitutes is low as plastic crates have established themselves as product of choice over substitutes due to cost and bulk handling advantages.

Competitive Rivalry: Intense due to presence of numerous global and regional players competing on pricing and product portfolio.

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 demand from food and beverage industry for packaging and transportation applications.

Regional Analysis – Asia Pacific dominated the global plastic crates market in 2023, accounting for over 35% of global revenue share. Expanding e-commerce, food processing industries are driving demand in the region. North America was the second largest market followed by Europe.

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, WestRock Company. Craemer Holding and Brambles Limited hold majority market share.

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