The plastic crates market is estimated to be 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 Coherent Market Insights.
Key Market Takeaways
:The global plastic crates market is anticipated to witness a CAGR of 7.9% during the forecast period 2023-2030, owing to growing e-commerce and food retail industries globally.
- On the basis of material type, the polyethylene segment is expected to hold a dominant position, accounting for over one-third of the total market share due to its durable and corrosion resistant properties.
- By product type, the stackable segment is expected to hold the largest market share due to benefits like efficient storage, easy handling and transportation.
- On the end-use basis, the food & beverage segment will dominate the market owing to high demand for packaging various foods and beverages items safely during transportation.
- Regionally, the North America plastic crates market is expected to hold the largest market share due to thriving logistics and e-commerce sectors.
Plastic Crates Market Report Coverage
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Report Coverage
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Details
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Market Revenue in 2023
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USD 3.78 Billion
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Estimated Value by 2030
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USD 6.43 Billion
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Growth Rate
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Poised to grow at a CAGR of 7.9%
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Historical Data
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2018–2022
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Forecast Period
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2023–2030
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Forecast Units
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Value (USD Million/Billion)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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By Material Type, By Product Type, By End Use
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Geographies Covered
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North America, Europe, Asia Pacific, and Rest of World
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Growth Drivers
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• Growth of Retail and E-commerce Sectors
• Expanding Food and Beverage Industry
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Restraints & Challenges
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• Volatility in Prices of Key Raw Materials
• Requirement of High Initial Investments |
Market Dynamics
:The plastic crates market is driven by the rising demand from food and beverages industry. Plastic crates are widely used for transportation and storage of fruits and vegetables, eggs, dairy products, meat, frozen foods, and beverages. Their lightweight and durability make them suitable for repetitive uses which further fuel the demand.
Moreover, plastic crates do not break or damage easily during transportation due to their shock resistance property which is another factor propelling the market growth.
Market Trends
:- Companies are focusing on developing collapsible plastic crates to optimize transportation and storage space. These crates can be easily folded or disassembled when empty and occupy much less space as compared to rigid plastic crates. This trend is expected to continue over the forecast period.
- End users show preference for customized plastic crates with company logo printing or specific designs. Manufacturers are thus focusing on providing customization in shapes, sizes, and surface finishing of plastic crates. This allows companies to create their identity and brand recognition while also meeting customer demands.
Market Opportunities
:- Polyethylene is widely used as a crate material due to its corrosion resistance, durability, and lightweight properties. It is highly suitable for handling various products gently without damage. The properties of polyethylene help reduce product breakage during transportation and storage. Advantages like durability, chemical resistance, and environmentally friendly nature increase the preference for polyethylene crates over alternatives.
- The stackable product type segment holds more than 45% of the total plastic crates market share. Stackable crates provide efficient storage and transportation of products. They enable convenient stacking and handling of multiple crates simultaneously. This helps optimize warehouse space and reduces logistic costs, creative lucrative opportunities for plastic crates market players.
Competitor Insights
Key players in the plastic crates market include:
- 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
Recent Developments
:- In 2022, Supreme Industries planned to introduce various new models and focus on the premium range of plastic furniture to drive overall growth. Additionally, the material handling division aimed to add new customers nationwide and continue its expansion efforts.
Market Segmentation:
By Material Type
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- Polyethylene
- Polypropylene
- Polyvinyl Chloride
- Polystyrene
- Others
By Product Type
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- Stackable
- Nestable
- Collapsible
- Foldable
- Other
By End Use
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- Agriculture
- Food and Beverage
- Retail
- Industrial
- Pharmaceutical
- Others
By Region:
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North America
:- U.S.
- Canada
Latin America
:- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe
:- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
:- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East
:- GCC Countries
- Israel
- Rest of Middle East
Africa
:- South Africa
- North Africa
- Central Africa