The beverage crates market is progressively expanding as a result of the growth in demand for bottled water, beer, wine, fruit juices, and other uses. The market for beverage crates is expected to grow at a CAGR of 4.9% between 2022 and 2030, reaching US$ 543.9 million, according to a recent study by Future Market Insights (FMI).
Rising high-density polyethylene (HDPE) demand is predicted to further fuel market expansion in the following years. HDPE goods are incredibly safe due to their remarkable chemical resistance and exceptional low temperature impact characteristics. As a result, they are required in the manufacturing of beverage crates for both alcoholic and non-alcoholic drinks.
Beer, wine, soft drinks, and water can all be transported and stored in beverage crates, which are durable containers. They often come in a variety of sizes and shapes based on the type of beverage and the number of bottles or cans they can carry and are made of plastic, wood, or metal.
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The rising demand for bottled and canned beverages, particularly in the food service and retail industries, is what propels the global market for beverage crates. The market is also impacted by the growing usage of recyclable and eco-friendly packaging options because beverage crates can be recycled after many uses.
Manufacturers have recently concentrated on creating novel and environmentally friendly beverage crates, like those built from recyclable materials or those that are simple to disassemble and store when not in use. In the upcoming years, these trends are anticipated to fuel the market for beverage crates.
Some of the key takeaways from the report are highlighted below-
- HDPE will remain highly preferred material used for making beverage crates
- The demand for nestable and stackable beverage crates will continue rising through the forecast period
- The rise in application of beverage crates in alcoholic drinks is expected to propel growth of the market during the forecast period
- East Asia will dominate in the global beverage crates market. China is expected to emerge as the most lucrative market for beverage crates in the region
- Europe will emerge as another lucrative region in the global market
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Who is Winning?
The key players in the global beverage crates market are operating amid cut-throat competition. In order to sail through the highly competitive environment, they are launching more varieties of quality products.
For instance,
- Supreme Industries Limited launched its new range of nestable and stackable crates such as NS CRATE SCH, NS CRATE SSP, NS CRATE STP, NS CRATE NESTING, NS CRATE STACKING, and others in the year 2022
- TranPak, Inc. launched its new extensive range of beverage crates such as VersaCrate 6,7”, Macro Bin 26 Solid, and others in the year 2021
Key Segments Covered in Beverage Crates Industry Research
Beverage Crates Market by Material Type:
- HDPE (High-density polyethylene)
- PP (polypropylene)
- Others
Beverage Crates Market by Product Type:
- Nestable and Stackable
- Collapsible
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Beverage Crates Market by Application:
- Alcoholic Drinks
- Beer
- Wine
- Spirits
- Other Alcoholic Beverages
- Non-alcoholic drinks
- Fruit juices
- Carbonated drinks or soda
- RTD beverages
- Bottled water
- Tea & coffee
- Milk Products
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