According to a report by FMI (Future Market Insights), the collapsible sleeve containers market is expected to witness a compound annual growth rate (CAGR) of 4.6% from 2020 to 2030. The growth can be attributed to advancements in raw materials for environmentally friendly bulk packaging options.
Although the COVID-19 pandemic initially negatively impacted the demand for collapsible sleeve containers, the market is expected to benefit from the growth of e-commerce and the increasing trend of online purchases of food and medications. The convenience and simplicity of online shopping have provided significant opportunities for the market.
The report highlights that companies involved in the collapsible sleeve containers business will benefit from the rise in discretionary incomes among the middle-class consumers and their adoption of innovative packaging strategies. The use of recyclable materials in the production of collapsible sleeve containers also contributes to reducing the industry’s carbon footprint, which further supports market expansion.
The use of recyclable materials meets the growing consumer demand for environmentally friendly and sustainable packaging options. As awareness of environmental issues increases, consumers are more likely to choose products packaged in recyclable materials, contributing to waste reduction.
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In summary, the projected growth of the collapsible sleeve containers market is driven by advancements in raw materials, the growth of e-commerce, and the increasing adoption of sustainable packaging solutions. These factors present opportunities for market players to expand their offerings and cater to the changing needs of consumers.
Key Takeaways:
- East Asia is expected to experience the fastest growth rate of 5.7% during the forecast period, mainly due to lower pricing and production costs.
- Among various box types, 48x40x30″ boxes are expected to gain preference.
- Block pallets will continue to be extensively utilized in the global market.
- The food and beverages segment is projected to account for the majority of the market share throughout the forecast period
Driving Factors
- Changes in urban consumer packaging choices to encourage market growth.
- Collapsible sleeve containers are gaining increased adoption for their reusable attributes and are perfect for rough handling and shipping conditions.
- The collapsible sleeve containers are gaining traction due to due to durability, recyclability, and lower production costs.
Constraints
- Ecological concerns over the usage of plastic pallet containers as an extensively utilized raw material is hindering the market expansion.
- Absence of customer’s awareness regarding the advantages of such packaging solutions are restricting the market adoption.
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Anticipated Market Impact by COVID-19 Outbreak
The collapsible sleeve containers market growth has been disrupted due to COVID-19 pandemic imposed lockdown restriction and supply chain disruptions. Players are likely to capitalize the demand for essential commodities incorporating pharmaceutical and food & beverage products to generate lucrative prospects in the implementation of collapsible packaging formats.
Furthermore, the growth of the ecommerce sector amid the crisis period and purchases of food and drugs through these channels will ensue in development prospects, partially mitigating losses amid the crisis.
Competition Landscape
Some of the leading companies operating in the global collapsible sleeve containers market include Schoeller Allibert Services B.V., DS Smith Plc, Rehrig Pacific Company Inc., Corn-Pearl North America Inc., RPP Containers, TranPak Inc., CABKA Group, Sohner Plastics LLC, Shuert Technologies LLC, Reusable Transport Packaging Inc., Buckhorn Inc., Ribawood S.A., Prairie Plastic Holdings, Enlightening Pallet Industry Co. ltd. and Qingdao CNplast Co. Ltd. Key companies have been engaged on investments into product launch and development endeavors as well as geographic extension strategies to fortify their market positions.
- Pricing Variations Across Regions:
Europe has the highest pricing benchmarking for collapsible sleeve containers across all box sizes.
East Asia and South Asia have relatively lower pricing benchmarks compared to other regions.
- Highest Priced Product Globally:
The collapsible sleeve containers with a box size of 48 x 40 x 45″ have the highest price globally.
- Most Commonly Used Box Size:
Globally, the collapsible sleeve containers with a box size of 48 x 40 x 30″ are most commonly used and have the lowest pricing benchmarking.
This box size is expected to account for an incremental opportunity of US$1 Bn with a market share of 46.8% by the forecast period.
- Effective Packaging and Pricing:
The box size 48 x 40 x 34″ has a significant pricing benchmark due to its effective packaging, ensuring safe transportation of products.
- Lucrative Opportunities in Asia Pacific:
Asia Pacific region, particularly East Asia and South Asia, provides lucrative opportunities for growth in the collapsible sleeve containers market.
Factors such as rising disposable income and rapid urbanization in developing regions contribute to this growth potential.
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Key Segments Covered in Collapsible Sleeve Containers Industry Research
Collapsible Sleeve Containers Market by Box Type
- 48x40x30”
- 48x40x34”
- 48x40x45”
Collapsible Sleeve Containers Market by Pallet Type
- Block Pallet
- Stringer Pallet
- Customized Pallet
Collapsible Sleeve Containers Market by End-use
- Agriculture & Allied Industries
- Building & Construction
- Chemical & Pharmaceuticals
- Food & Beverages
- Engineering Products
- Textile & Handicrafts
- Automotive
- Others
Collapsible Sleeve Containers Market by Region
- North America Collapsible Sleeve Containers Market
- Latin America Collapsible Sleeve Containers Market
- Europe Collapsible Sleeve Containers Market
- East Asia Collapsible Sleeve Containers Market
- South Asia Collapsible Sleeve Containers Market
- Oceania Collapsible Sleeve Containers Market
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