In 2022, the global crates market demonstrated robust growth, recording a substantial valuation of US$ 5.3 billion. In the year 2023, it is poised to maintain its upward trajectory with a projected year-on-year (YoY) growth rate of 4%, reaching an estimated valuation of approximately US$ 5.61 billion. The surging adoption of crates across diverse end-use industries is expected to fuel a sustained surge, exhibiting a compelling 5.9% Compound Annual Growth Rate (CAGR) between 2023 and 2033. By the year 2033, the market is anticipated to soar to an impressive valuation of around US$ 9.95 billion.
Moreover, the utilization of crates for the storage and transportation of various items, including fruits, vegetables, beverages, and more, within the food and beverage sector, further contributes to this market’s upward trajectory. Projections suggest that the food & beverage segment may experience a noteworthy CAGR of 6.7% throughout the forecast period.
One notable driver behind this growth is the burgeoning consumer preference for plastic crates, driven by the remarkable resilience of High-Density Polyethylene (HDPE) and the impressive load-bearing capacity offered by collapsible crates constructed from HDPE material.
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The Surge in Grocery Delivery and Pickup Amplifying Crate Sales
The past three years have seen a substantial surge in the popularity of grocery delivery and pickup services, and this trend is expected to persist in the foreseeable future. This shift in consumer behavior is driven by a strong desire to streamline daily routines, conserve time, and optimize expenses.
The e-commerce sector has witnessed remarkable growth, primarily due to the heightened demand for the convenient acquisition of everyday essentials, including groceries, fresh produce, fruits, and essential medications. As consumers increasingly prefer the ease and efficiency of ordering these items from the comfort of their homes, the grocery delivery and pickup industry is experiencing a noteworthy uptick.
Crates Pooling Creating Opportunities for Collapsible Crates in the Market
According to insights shared by the Reusable Packaging Association, the worldwide transit packaging industry accounts for a substantial 21% of the global packaging market. This sector encompasses the transportation of raw materials, goods, and finished products in both B2B and B2C supply chains.
Within this expansive global transport packaging arena, reusable packaging constitutes a significant portion, contributing an impressive 50% of the market’s total value. The global market for reusable transport packaging (RTP) encompasses a wide range of products, including crates and other solutions, and is estimated to be valued at an impressive US$100 billion. Among these products, crates, which encompass rigid containers and trays, stand out with a substantial value of US$17.7 billion within the RTP market.
Market Drivers:
- Growing E-commerce Industry: The rise of e-commerce has increased the need for durable and efficient packaging solutions, including crates, for shipping and storage of products.
- Logistics and Supply Chain Optimization: Businesses are increasingly focusing on optimizing their supply chains and logistics operations, which often involves the use of crates for efficient storage and transportation.
- Sustainability and Eco-Friendly Packaging: The demand for eco-friendly and sustainable packaging solutions has led to the development of reusable and recyclable crates, as businesses seek to reduce their environmental impact.
- Urbanization and Industrialization: Rapid urbanization and industrial growth in emerging markets have driven the need for crates for materials handling, storage, and transportation within industrial facilities and urban areas.
- Food and Agriculture Industry: Crates are widely used in the agriculture and food processing industries for the safe storage and transportation of fruits, vegetables, and other perishable goods, contributing to market growth.
- Automotive Industry: Crates are essential in the automotive sector for the storage and transportation of parts and components, which is driven by the global automotive industry’s growth.
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Leading Players
Some of the leading manufacturers of crates market are Brambles Limited, Schoeller Allibert AB, NEFAB GROUP, Myers Industries, Inc., DS Smith PLC, Dynawest Limited, Craemer UK Ltd, SABIC, Supreme Industries Limited, and Rehrig Pacific Company, Inc.
Segmentation
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
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
- South Asia
- Oceania
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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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