The returnable plastic crates market is expected to experience substantial growth in the near future. It is projected to increase in value from USD 1.6 billion in 2022 to USD 2.4 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 5.6% between 2022 and 2029.
Returnable plastic crates offer several advantages over traditional packaging methods. They are highly durable and capable of withstanding the challenges of shipping and storage, making them ideal for industries such as food and beverage, automotive, and pharmaceuticals.
One of the significant benefits of returnable plastic crates is their lightweight nature, which helps reduce the environmental impact of logistics and transportation. This characteristic is particularly advantageous in the food and beverage sector. Additionally, these crates can be easily cleaned and sanitized, ensuring the safety and hygiene of transported goods.
The food and beverage industry is a key consumer of returnable plastic crates. They are widely used for the transportation and storage of various food products, including fruits, vegetables, meat, and dairy products. Additionally, they are commonly employed in the logistics and transportation of alcoholic beverages such as beer, wine, and soda. In the automotive industry, returnable plastic crates are extensively utilized for the storage and transportation of car parts and components.
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In conclusion, the returnable plastic crates market is expected to experience significant growth in the coming years. The rising demand for environmentally friendly packaging options, particularly in the food and beverage sector, is a major driver behind the expansion of this market. Companies looking to enhance profitability and reduce their environmental footprint should consider adopting returnable plastic crates as a packaging choice.
Key Takeaways of Returnable Plastic Crates Market Study
- By material type, high density polyethylene is anticipated to be a key segment in returnable plastic crates market, and is projected to capture more than 65% of the market share during the forecast period.
- Demand from manufacturers of seafood, meat & poultry, and agriculture products is collectively expected to capture around 75% of the global returnable plastic crates market share, with its absolute growth expected to be more than any other segment.
- Asia Pacific Excluding Japan is expected to dominate the global returnable plastic crates market, and is expected to witness an impressive CAGR through 2022-2029.
- Increasing Use of RPCs for Logistics and Transportation of Bulk Materials in North America and Europe
Competitive Landscape
Leading returnable plastic crates manufacturers are committed to the research and development of the product and are consistently offering innovative returnable plastic cratesba solutions targeted towards specific end use.
Companies operating in the returnable plastic crates market are aiming at product launches and expansions with other manufacturers.
- In November 2021, Craemer has launched large volume 300 litre rotary stacking container which once used can save 70 percent of space until further usage.
- In November 2021, DS Smith Plc developed a fully recyclable and reusable tray which has features such as two lateral automatic bases.
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Key Players:
- Brambles Limited
- Myers Industries Inc.
- Supreme Industries Limited
- Schoeller Allibert Services B.V.
- DS Smith PLC
- Rehrig Pacific Company Inc.
Regional Analysis:
In the U.S., the growth opportunities for the seafood and meat packaging market, including returnable plastic crates, are driven by factors such as increasing disposable income, urbanization, and a focus on healthy food. These trends lead to higher meat consumption in the country. The U.S. ranks second in terms of meat consumption according to the Organization for Economic Co-operation and Development (OECD). This creates a favorable market environment for packaging solutions like returnable plastic crates to cater to the growing demand for seafood and meat products.
In Italy, the sales of dairy products, including returnable plastic crates, are expected to be boosted by the country’s position as the second-largest exporter of cheese and dairy products. Italy has a strong presence in the global cheese market, and the rising export of these products contributes to the demand for packaging solutions like returnable plastic crates. The Italy returnable plastic crates market is projected to expand significantly, creating opportunities for the packaging of dairy products, particularly cheese.
Frequently Asked Questions (FAQ):
• What are the factors influencing the growth of the returnable plastic crates market?
• Which are the key sectors driving the returnable plastic crates market?
• Who are the major manufacturers?
• What is the biggest restraint for returnable plastic crates market?
• What will be the growth prospects of the returnable plastic crates market?
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Returnable Plastic Crates Market By Category
By Capacity :
- Less than 10 Kg
- 10 Kg to 20 Kg
- 21 Kg to 35 Kg
- 36 Kg to 50 Kg
- Above 50 Kg
By Product Type :
- Stackable
- Nestable
- Collapsible
By Material :
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Application :
- Agriculture
- Grocery
- Dairy
- Bakery
- Seafood & Meat
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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