According to a new report by Future Market Insights (FMI), the global foldable container market is likely to be valued at US$ 2.0 Bn by the end of 2033 from US$ 1.3 Bn in 2023. The market is set to exhibit growth at a CAGR of 4.6% during the forecast period from 2023 to 2033.
The shipping and logistics industry is poised for a substantial surge in the demand for storage containers, particularly in the foldable container segment, over the next decade. Projections indicate that the market is set to witness a remarkable growth, anticipated to expand to 1.6 times its present value within the upcoming assessment period.
Transfer of freight from one form of transportation to another is referred to as intermodal transportation. Since delays in product delivery are caused by ports’ severe traffic problems, foldable containers are becoming more and more popular, particularly in developing nations.
Storage is viewed as one of the most precious firm resources and is set to play a critical role in industrial or commercial warehouses. Additionally, space can be added to the expensive amount.
Previously, the crew had difficulty loading and unloading containers used in intermodal shipping, which resulted in delays and expensive charges. On the other hand, foldable container is simple to handle, which has led to a large amount of use by freight companies.
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Foldable container can also meet the need for items that may increase storage capacity that shipping and storage managers are continuously seeking. Thus, need for cost and space-effective storage containers are projected to boost the demand for foldable containers.
Top Trends Pushing Sales of Foldable Containers across the Globe
- Rising Need for Storage Containers in Various Companies to Propel the Demand for Foldable Storage Bins
Within the manufacturing sector, the necessity for storage containers that can be conveniently folded to reduce spatial constraints has become increasingly crucial. The growing demand for cost-effective storage solutions is expected to be a major driving force behind the adoption of foldable containers. Many shipping managers are now favoring advanced foldable container options due to their superior return-on-investment, leading various industries to recognize collapsible containers as a highly economical solution.
Foldable containers find their most extensive applications across a spectrum of industries, encompassing large-scale manufacturing enterprises, midsize production facilities, and small-scale wholesale and resale outlets. These versatile containers have proven to be an ideal choice for handling bulk materials, a critical aspect of inventory management within manufacturing units. Consequently, foldable containers are considered the optimal solution for efficient bulk material handling.
Drivers:
- Space Efficiency: Foldable containers are valued for their ability to save space when not in use. This is especially important in industries like shipping and logistics where storage space is at a premium.
- Cost Savings: Foldable containers can reduce transportation and storage costs due to their stackability and collapsibility, resulting in lower shipping and handling expenses.
- Sustainability: As sustainability becomes a more significant concern, foldable containers are preferred for their reusability and reduced environmental impact compared to single-use packaging.
- Customization: The ability to customize foldable containers to specific dimensions and requirements allows companies to optimize their supply chain and storage solutions.
- Ease of Handling: Foldable containers are designed for easy assembly and disassembly, making them user-friendly for workers in various industries.
- Global Trade Growth: The expansion of global trade and e-commerce has increased the demand for efficient and adaptable container solutions, boosting the foldable container market.
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Key Takeaways from Foldable Container Market
- By material, the plastic foldable container segment is projected to hold around 68% of the market value share by the end of 2033.
- By product type, the crates segment is anticipated to grow 1.8 times the current market value during 2023-2033.
- Based on end use, the shipping & logistics segment is projected to expand at a CAGR of 5.0% during the forecast period.
- The market for foldable containers in China is projected to expand at a CAGR of 5.5% in the next ten years.
- The foldable containers market is set to exhibit a positive growth rate by expanding 1.6 times the current value during the forecast period.
Competition Landscape: Foldable Container Market
Monoflo International, Schoeller Allibert Services B.V., DS Smith Plc, Steel King Industries, Inc., Sintex Group, IPL Plactics Inc., Tripak Solutions, and Myers Industries, Inc. are a few key players operating in the global foldable container market. Also, some of the other noticeable players in the market include Dolav UK Limited, Bekuplast GmbH, Intech Worldwide GmbH, Fletcher European, Corplex UK, Enco Plastic Limited, KTP Kunststoff Palettentechnik GmbH, Nilkamal Material Handling, NPP Group Limited, AUER PACKAGING, Transoplast Group, and others.
Foldable Container Market Outlook by Category
By Material:
- Plastic
- Metal
- Paperboard
By Product Type:
- Boxes & Cartons
- Crates
- Jerry Cans
- Pallet Boxes
- IBC
By End Use:
- Food & Beverage
- Pharmaceutical
- Chemical & Fertilizer
- Building & Construction
- Shipping & Logistics
- Other Consumer Goods
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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