The Plastic Crates Market Is Estimated To Witness High Growth
Market Overview:
Plastic crates are box-shaped containers made from thermoplastic materials such
as polyethylene or polypropylene. They are widely used for packaging, transportation,
and storage of various goods across industries such as food & beverages,
pharmaceuticals, chemicals, automotive, and agriculture. Plastic crates provide
advantages over traditional wooden crates as they are durable, lightweight,
cost-effective and require low maintenance.
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:
The increasing preference for plastic crates over conventional wooden crates
due to their lightweight and durable nature is driving market growth. Plastic
crates cause less damage during transportation and require minimal effort for
handling. They can withstand adverse weather conditions and repetitive use
better than wooden crates. Additionally, growing demand from industries such as
food & beverages, chemicals and pharmaceuticals for effective packaging and
logistics solutions is also fueling market expansion. Moreover, plastic crates
provide flexibility in designs, sizes and colors as per customer requirements,
thereby enhancing their preference over other packaging formats. However,
stringent regulations regarding the use of plastics may hamper market growth
over the forecast period.
SWOT Analysis
Strength: Plastic crates are known
for their durability and ability to withstand damage. They are lightweight and
require less manpower for handling loads as compared to wooden or metal
containers. The material is corrosion resistant and easy to clean.
Weakness: Plastic crates have low
recyclability rates. Most plastics used in crates are difficult to recycle and
end up in landfills. Plastic crates also have lesser resale value as compared
to returnable plastic containers or reusable plastic containers.
Opportunity: Growth of e-commerce
and logistics industries relying on plastic crates for transportation and
storage of goods presents an opportunity for market expansion. Rising demand
from food and beverage industries also supports market growth.
Threats: Implementation of strict
environmental regulations around plastic waste management poses threats to
plastic crate producers. Alternative packaging materials like cardboard boxes
reduce reliance on plastic crates.
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 industries. Growing consumption of packaged food and drinks reliant on
plastic crates for distribution and transit has significantly contributed to
market size.
Regional Analysis
North America dominates the global plastic crates market, accounting for
maximum market share, followed by Europe. High volumes of plastic crates are
used for shipping goods in the developed markets of U.S, Canada and Germany.
Asia Pacific exhibits fastest growth in plastic crates consumption fueled by
expansion of e-commerce sector and cold chain solutions for perishable items in
countries like India and China.
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. The major players focus on new product development and
strategic partnerships to strengthen market presence.
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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