The global crates market size was valued at US$ 5.0 Bn in 2021 and is likely to exhibit a year-on-year (YoY) growth rate of 4% in 2022, reaching around US$ 5.2 Bn. Furthermore, with growing adoption of crates across various end-use industries, the overall demand is slated to increase at 5.9% CAGR between 2022 and 2032, totalling around US$ 9.2 Bn by 2032.
Crates are huge, robust containers that are useful in a variety of end-use industries. They are being increasingly used to transport products across various industries as they provide better protection and ventilation to the goods.
Similarly, rise in import/export trade activities across the world is anticipated to generate enormous demand for packaging solutions like crates during the next ten years.
For insights on global, regional, and country-level parameters with growth opportunities from 2023 to 2033 – Download a sample report https://www.futuremarketinsights.com/reports/sample/rep-gb-15559
Demand is especially rising for plastic crates due to their low cost, easy transportation, and lightweight features. However, with rising environmental concerns, sales of wooden crates are likely to gain traction during the forecast period.
The expanding R&D initiatives related to crates design for effective transportation at cheaper costs are likely to boost the market growth. The use of crates in the booming import and export business around the world is expected to have a substantial impact on the crates market.
Regionally, demand for crates is likely to grow at a higher pace across developing nations because of rapid economic development and expanding manufacturing sector.
However, fire hazards connected with wood, plastic, or recyclable crates, as well as food safety problems associated with the usage of wooden crates are expected to have a negative influence market growth.
Key Takeaways from Global Crates Market
- Based on material type, the plastic crate category is expected to hold almost 1/4th value share in the global crates market.
- By product type, collapsible crates segment is expected to grow at the fastest CAGR during the forecast period.
- Based on end use, the food and beverages segment is anticipated to expand at 6.5% CAGR through 2032.
- The U.S. crates market is projected to grow at a CAGR of 5% between 2022 and 2032, reaching a valuation of around US$ 892.4 Mn in 2022.
- The Indian crates market is expected to grow at a CAGR of 6% during the projection period.
Get Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-15559
“The global crate market is likely to witness significant growth over the projected period due to rapid expansion of food & beverages industry worldwide. Furthermore, HDPE crates are projected to be extremely profitable for crate makers.” –comments FMI Analyst
Food & Beverages Sector is the Key Driver of Global Crates Market
The food and beverage business has the highest demand for crates on the market. The rise of the food processing industry due to growing consumption of packaged foods is likely to play a key role in fostering sales of crates during the forecast period.
Due to increased beverage consumption around the world, crates are in great demand. 85.6 percent of Americans over the age of 18 have consumed alcohol at some point in their life, according to the 2019 National Survey on Drug Use and Health. Attributing to increasing sales of beverages, demand for partition crates for transportation of delicate glass beverage bottles is rising at a robust pace.
Global Crates Market by Category
By Material Type:
- Plastic
- High-density Polyethylene (HDPE)
- Polypropylene (PP)
- Wooden
- Metal
By Product Type:
- Stackable
- Nestable
- Collapsible
By End Use:
- Food & Beverages
- Fruits & Vegetables
- Dairy Products
- Meat, Poultry & Seafood
- Others
- Pharmaceuticals & Medical Devices
- Automotive
- Building and Construction
- Logistics and Transportation
Who is Winning?
Key players in the plastic crate industry are concentrating on providing lighter-weight and more environmentally friendly crates. Some of these key players are Brambles Limited, Schoeller Allibert AB, NEFAB GROUP, Myers Industries, Inc., DS Smith PLC, Dynawest Limited, Craemer UK Ltd, SABIC, Supreme Industries Limited, Rehrig Pacific Company, Inc.
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15559
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com