The global crates market size was valued at US$ 5.0 Bn in 2021 and is likely to exhibit a year-on-year (YoY) growth rate of 4% in 2022, reaching around US$ 5.2 Bn. Furthermore, with growing adoption of crates across various end-use industries, the overall demand is slated to increase at 5.9% CAGR between 2022 and 2032, totalling around US$ 9.2 Bn by 2032.
The crates market saw steady growth in 2021 with worldwide revenues up of collapsible crates by 4.3% year over year. Emerging trends reveal that revenue of nestable crates will nearly double between 2022 and 2032, with a ten-year compound annual growth rate (CAGR) of 5.7%.
Based on material type, global demand for overall plastic crates enjoyed year-on-year (YoY) growth of 6.1% in 2021, while the wooden crates segment grew at 4.6% in 2021.
Plastic crates are the most traction gaining crates, with a market share of over 67% in the global market in 2022. Consumer demand for plastic crates has increased significantly as a result of HDPE’s strong resilience and the huge carrying capacity of collapsible crates made of HDPE.
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Fruits, vegetables, drinks, and other items are stored or transported in crates in the food and beverage business. According to market research, the food & beverage end-use segment will increase at a compound yearly growth rate of 6.5% over the forecast period 2022-2032.
In 2021, the US crates market is estimated to expand 1.8 times of the current sales, bucking initial skepticism about how the market would perform during a global pandemic. Across the whole of North America, total sales of crates reached US$ 1.1 Bn.
The global crates market witnessed a CAGR of 4.7% during the historic period of 2015-2021. However, with rapid growth of industries such as food & beverages and logistics, the overall sales of crates are set to rise at 5.9% CAGR between 2022 and 2032.
Crates are the lightweight carriage or cases used for transportation of vegetables, grocery, and many other products. They help end users in the safe transportation of products while reducing the overall costs.
Ventilated crates and partition crates are estimated to gain significant traction among end users as these types of crates are used directly for display on the shelves of supermarkets.
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Regular crates with collapsible sides are mostly preferred in the returnable packaging wherein crates are folding for inbound trips and rigid for outbound trips. Although the demand for bulk bags and FIBCs is increasing, consumption of crates is likely to outpace these packaging solutions as they give robust support against impacts during storage and transportation.
Rapid expansion of end-use industries along with growing preference for lightweight and durable packaging solutions is expected to provide a strong thrust to the global crates market during the forecast period.
Various market participants and product innovations entering the market will further support the growth of crates market during the forthcoming years.
“Crates Pooling Creating Opportunities for Collapsible Crates in the Market”
As per the key insights shared by Reusable Packaging Association, global transport or transit packaging market is estimated to hold nearly 21% of the global packaging market. This includes transport of raw materials, commodity, or finished products involving business-to-business product transport or business-to consumer product transport.
Out of this global transport packaging market, reusable packaging market holds a major value share of 50%. The global reusable transport packaging (RTP) market includes a variety of products such as crates and others, which together comprises the estimated worth of US$ 100 Bn reusable packaging market. Crates including rigid containers, trays are estimated to record a value of US$ 17.7 Bn in the RTP market.
Based on these facts it is analyzed that the end users are moving towards inclusion of reusable packaging for transportation over single use packaging formats. Most of these end users are outsourcing shipping and logistics to rental services where the demand for crates for transporting bulk packages is more.
FMI estimates that the crates pooling/renting services will create an opportunity for boosting sales of collapsible crates as they consume less storage space during return transit and thus saves additional cost of transportation.
“Surge in Grocery Delivery and Pickup Amplifying Crate Sales”
It has been witnessed that grocery delivery & pickup has increased at a high pace during the last three years and the trend is likely to continue during the forecast period.
People are showing a keen inclination towards ordering products from their home to save their precious time as well as money. The e-commerce industry is rapidly gaining momentum attributing to a jarring spike in pickup and delivery of essential products such as grocery, vegetables, fruits, and general medicines.
As per FMI, online grocery sales increased by more than 28% in 2020 in comparison to past year and crossed 41% in 2021. The demand for crates among e-commerce giants such as Amazon, Big Basket, Carrefour Hypermarches, Fresh Direct LLC. and many others increased exponentially for delivering grocery products at consumer’s doorsteps.
As crates are easy and convenient packaging format for material handling, end users are switching towards these products. They are sturdy, reusable, and ensure quality of product during transportation.
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