13-Apr-2023 | Zion Market Research
The global plastic crates market size was worth around USD 9 Billion in 2022 and is predicted to grow to around USD 41.9 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 21.21% between 2023 and 2030.
The plastic crates industry refers to the production and distribution of plastic crates that are used for several purposes. These crates are made of plastic and their user-friendly design allows them to be used for the transportation, storage, and protection of goods. The wide usage of plastic crates is in terms of food and beverages industries alongside the logistics and agricultural sectors. Manufacturers, distributors, and suppliers are crucial elements in the industry since they are responsible for catering to the various demands of consumers based on size, shape, and application preference.
It also includes a wide range of products that are made of high-quality products and deliver exceptional performance. Some examples of the products include collapsible plastic crates, stackable plastic crates, and nestable plastic crates, among others. During the forecast period, the industry is expected to grow at a rapid CAGR due to several factors while navigating through restraints and certain challenges.
The global plastic crates market is projected to grow owing to the increasing demand for durable, lightweight, and reusable packaging solutions. These crates are becoming increasingly popular owing to their aforementioned attributes since they are able to deliver as per the expectations of the user. Furthermore, since the demand for the products is growing steadily, industry players are encouraged to invest in more research and development of highly efficient crates that meet the specific requirements of several end-user verticals. In addition to this, the growing e-commerce segment and online retail businesses represent another crucial aspect of the industry expansion trend.
With the growth in these sectors, the demand for secure and efficient transportation solutions is at an all-time high. The service providers in the e-commerce segment are compelled to use more effective products to secure the item as there have been growing concerns over damaged products before delivery. Two of the largest consumers of plastic crates are the agriculture and food industries. They require packaging solutions that can protect and transport produce and food products, which makes plastic crates an ideal choice due to their durability, ease of cleaning, and hygiene.
One of the key constraints in the global plastic crates industry is in terms of fluctuating prices of raw materials. These crates are heavily reliant on the cost and availability of raw materials which is more particularly, plastic resins. The growing war-like tension across the globe has greatly impacted various plastic resin-supplying countries. This has further led to continuously changing prices of raw materials thus impacting the business operations and profitability. Additionally, the stringent government regulations may hinder smooth expansion for the industry players as regulatory bodies are imposing stricter rules and standards.
The growing adoption of automation and smart technologies may provide growth opportunities while the competition from alternative solutions could challenge market growth.
The global plastic crates market is segmented based on type, application, and region,
Based on type, the global market segments are PP (polypropylene), HDPE (high-density polyethylene), PE (polyethylene), PVC (polyvinyl chloride), and others. In 2022, the industry witnessed the highest growth in the polypropylene (PP) segment followed by high-density polyethylene (HDPE). These plastic crates offer high durability and strength. In addition to this, their lightweight nature makes them a preferred choice amongst consumers and manufacturers. PE is most widely used in the agricultural sector since it is resistant to chemicals and their impact. PVC is less commonly used because they lack the necessary strength required to hold heavy products in a safe condition during transportation. As of 2021, China’s agricultural land is over 57% of the total available land.
Based on application, the global market segments are retail, industrial, agriculture, pharmaceuticals, food and beverage, logistics distribution, and others. The plastic crate industry registered the highest CAGR in the food and beverages segment in 2022 followed by the agricultural industries. In these segments, the main application of the crates is related to the transportation of perishable items, foods, and vegetables. Plastic crates are easy to clean while offering high resistance to damage. They can also be reused multiple times. Some of the other crucial applications of plastic crates include industries like distribution, industrial manufacturing, and retail. As per the Ellen MacArthur Foundation, the consumer goods and retail sectors account for approximately 20% of global plastic usage.
Asia-Pacific is anticipated to lead the global plastic crates market due to several favorable factors. One of the key contributing reasons is the exceptional economic growth observed in the regions of China and India alongside other nations. The growing population in these countries as well as increasing prosperity are the key driving forces for consumer goods which in turn translates to more demand for associated products like plastic crates. Furthermore, the region is also the hub for export-oriented and manufacturing businesses like textile, electronics, and automotive. These sectors require secure transport of goods, and plastic crates are an ideal packaging solution for this purpose. The regional CAGR is further strengthened by the availability of lower production and labor costs as compared to many other territories. This has enabled many manufacturers to produce plastic crates at a lower cost
This review is based on a report by Zion Market Research, titled “Plastic Crates Market By Type ( PP (Polypropylene), HDPE (High-Density Polyethylene), PE (Polyethylene), PVC (Polyvinyl Chloride), and Others), By Application (Retail, Industrial, Agriculture, Pharmaceuticals, Food and Beverages, Logistics Distribution, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/plastic-crates-market
The global plastic crates market is led by players like:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651