The worldwide beverage crates market is scheduled to witness a really good CAGR of 4.9% somewhere in the range of 2022 and 2030, arriving at US$ 543.9 Mn.
The beverage crates market is extending consistently attributable to the ascent sought after in different applications like filtered water, brew, wine, organic product juices, and others. A new report by Future Market Insights (FMI) states that the worldwide beverage crates market is supposed to develop at 4.9% CAGR during the gauge time frame somewhere in the range of 2022 and 2030.”
According to FMI, East Asia will continue to hold the leading share in the global market for beverage crates. COVID-19 has resulted in temporary decline in growth of the global food & beverages industry causing sales of beverages crates to decelerate. However, it is poised to recover steadily as sales pick up with the recovery of the food & beverages sector.
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Studies reveal that COVID-19 has accelerated the trend towards sobriety. An Opium survey revealed that around 14 million people in the U.K. are trying to either reduce or stop drinking alcoholic beverages during lockdown. Consequently the non-alcoholic segment is exploding, which will continue creating lucrative prospects for growth of the beverage crates market.
FMI offers a thorough analysis of the global market along with information on growth drivers, restraints, and potential.
The following are some of the report’s main conclusions:
- HDPE will continue to be a highly favoured material for usage in beverage crates.
- Through the projection period, demand for nestable and stackable beverage crates will increase.
- Increasing use of beverage crates for alcoholic beverages is anticipated to stimulate market expansion during the anticipated time frame.
- Market share for beverage crates will be dominated by East Asia.
- China is anticipated to become the region’s most lucrative market for beverage crates, followed by Europe as another prosperous region in the global market.
Who is Winning?
The key players in the global beverage crates market are operating amid cut-throat competition. In order to sail through the highly competitive environment, they are launching more varieties of quality products.
For instance,
- Supreme Industries Limited launched its new range of nestable and stackable crates such as NS CRATE SCH, NS CRATE SSP, NS CRATE STP, NS CRATE NESTING, NS CRATE STACKING, and others in the year 2022
- TranPak, Inc. launched its new extensive range of beverage crates such as VersaCrate 6,7”, Macro Bin 26 Solid, and others in the year 2021
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Key Companies Profiled
- Brambles Limited
- Supreme Industries Limited
- Schoeller Allibert Services B.V.
- DS Smith Plc
- Rehrig Pacific Company, Inc.
- TranPak, Inc.
- IPL Plastics Inc.
- Ravensbourn Plastics Ltd
- Craemer UK Ltd
- Zhejiang Zhengji Plastic Industry Co. Ltd.
- Myers Industries, Inc.
COVID-19 Impact Analysis
The beverage crates market got highly affected due to the outbreak of the novel coronavirus, especially during the first half of this year. Various restraints such as non-operational manufacturing units, shortage of labors, and others have led to decline in the growth of the market.
Though the food & beverages industry got battered in the onset of the pandemic earlier in this year, it is recovering slowly and forecast to grow further. According to the National Statistics of the United States, the food & beverages segment in the United States is projected to reach US$ 18,702 million by 2021. With the world settling down to the ‘new normal,’ the market also has started recovering steadily and is expected to grow exponentially through 2030.
Key Segments Covered in Beverage Crates Industry Research
Beverage Crates Market by Material Type:
- HDPE (High-density polyethylene)
- PP (polypropylene)
- Others
Beverage Crates Market by Product Type:
- Nestable and Stackable
- Collapsible
Beverage Crates Market by Application:
- Alcoholic Drinks
- Beer
- Wine
- Spirits
- Other Alcoholic Beverages
- Non-alcoholic drinks
- Fruit juices
- Carbonated drinks or soda
- RTD beverages
- Bottled water
- Tea & coffee
- Milk Products
Beverage Crates Market by Region:
- North America Beverage Crates Market
- Latin America Beverage Crates Market
- Europe Beverage Crates Market
- East Asia Beverage Crates Market
- South Asia Beverage Crates Market
- Oceania Beverage Crates Market
- Middle East & Africa (MEA) Beverage Crates Market
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Future Market Insights (ESOMAR certified 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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