Plastic Crates Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (undefined)

Plastic Crates Market Trends

• Development of Customized and Bespoke Crates: A key trend is the introduction of customized plastic crates designed and engineered specifically for the application requirements of end-users. Companies are launching crates tailored for produce like fruits and vegetables, meat and poultry, dairy products, etc. in terms of dimensions, ventilation, water drainage, and stacking. Designs compatible with automated warehousing and dimensions that maximize transport vehicle space utilization are also gaining traction.
• Launch of Plastic Crates with Innovative Designs and Enhanced Strength: Manufacturers are focused on product innovation through new crate designs and the use of novel materials to enhance strength, appearance, and sustainability. For instance, folding and collapsing crates that require less storage space are becoming popular. Easy-to-assemble crates are also being introduced. Materials like polypropylene are being used to make sturdier and lighter crates suited for heavy loads. Manufacturers use advanced molding technology for novel crate designs.
• Adoption of Plastic Pallets and Containers for Sustainability: Major industries like consumer goods and retail are transitioning towards plastic pallets and containers from wood pallets for sustainability benefits. Plastic pallets have a longer life, require less maintenance, and eliminate contamination during storage and transport. Nestable and rackable plastic containers are also gaining adoption for efficient warehousing. Supply chain players like CHEP offer recyclable plastic pallets made using recycled polyethylene on a sharing and reuse model.
• Strategic Partnerships and M&A Activity by Key Players: Key plastic crate manufacturers are entering into strategic partnerships with major end-user companies, 3PLs, and recycling specialists to strengthen their capabilities and offerings. Acquisitions of companies providing value-added solutions are also taking place. For instance, Brambles acquired Ferguson Group and CAPS, while Greif Inc. took over Caraustar Industries. Partnerships help enhance the collection, reuse, and recycling of plastic crates across regions. These moves consolidate the market positions of companies.

Plastic Crates Market Regional Insights

• North America is expected to be the largest market for plastic crates market during the forecast period, accounting for over 41% of the market share in 2023. The growth of the market in Asia Pacific is attributed to the rapidly growing food processing and retail sectors in emerging economies like India and Southeast Asia.
• Europe market is expected to be the second-largest market for plastic crates market, accounting for over 22% of the market share in 2023. The growth of the market in Europe is attributed to the high demand from the well-established food and beverage industry.
• Latin America market is expected to be the fastest-growing market for plastic crates market, with a CAGR of over 14% during the forecast period. The growth of the market in Latin America is attributed to the expanding agriculture sector and growth in online grocery delivery services in the region.

 Figure 1. Plastic Crates Market Share (%), by Region, 2023