The global crates market is projected to grow from US$ 5.2 Bn in 2022 to US$ 9.2 Bn by 2032, exhibiting a CAGR of 5.9% throughout the forecast period. Rising usage of crates across numerous end-use industries such as food & beverages, pharmaceuticals, automotive, and logistics is a key factor driving growth in the global crates market.
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.
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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.
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“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.
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[15:35] Shilpa Banerjee
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