The global HDPE crates market is anticipated to be valued at US$ 1,088.1 Million in 2022, forecast to grow at a CAGR of 5.6% to be valued at US$ 1,876.4 Million from 2022 to 2032.
Logistics and shipment of products require not only the efficient packaging of the product but also a safe means of packaging type in which the product is transported. Crates are mainly intended to fulfill this function by providing a reliable source of transit to the packaged product. Crates are being utilized since ancient times and have evolved from crates made up of wood to the plastic ones.
HDPE crates are impact resistant, possess high strength and toughness making them an ideal choice for a large number of end use industries. They allow the product to be transported without any kind of damage. HDPE crates provide better ventilation to the products giving them better survival rates. The HDPE crates market is anticipated to grow on the backdrop of HDPE being a resource friendly material, recyclable and requires an easy manufacturing process.
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HDPE Crates Market: Market Dynamics
HDPE crates possess a high tensile strength and are highly suitable for handling large bulky products. HDPE crates are available to suit the needs of various end user industries. Moreover, they can be customized according to the needs of the customers and hence come in varying capacity sizes. These factors cumulatively are driving the global HDPE crates market.
The disposal of HDPE crates is a tedious process which hampers the growth of the global HDPE crates market as they are comparatively less preferred by the end user industries due to the storage issues. Moreover, strict and stringent government regulations have led to decreased preference for plastics in some regions. Printed crates according to the needs of the end user is likely to create opportunities for the global HDPE crates market. Branding options such as embossing and silk screening is a key trend prevailing in the global HDPE crates market.
HDPE Crates Market: Market Segmentation
The global HDPE crates market is segmented on the basis of packaging type, product type, application, and geography. On the basis of packaging type, the global HDPE Crates market is segmented into solid HDPE crates and mesh HDPE crates. On the basis of product type, the global HDPE crates market is segmented into foldable crates, bottle crates, and box pallets.
On the basis of application, the global HDPE crates market is segmented into food & beverages, pharmaceuticals, chemicals, and others. Food & beverage segment is further sub segmented into milk industry, bakery and confectionery, meat and poultry, and others. The food industry is the major consumer of the HDPE crates as the crates are extensively used for storing agricultural produce, fruits & vegetables, etc.
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HDPE Crates Market: Regional Outlook
On the basis of geography, the global HDPE Crates Market is segmented into North America, Latin America, Middle East & Africa, Europe, and Asia Pacific. North America is currently leading the global HDPE crates market due to well established supermarkets and retail shops where the HDPE crates are used for storing various products.
Asia Pacific HDPE crates market is anticipated to witness strong growth over the forecast period due to the presence of agricultural economy such as India where HDPE crates are extensively used for storing agricultural produce. Latin America HDPE crates market is expected to witness stagnant growth over the forecast period due to sluggish growth in the end use sectors in the region and a declining agricultural industry in the region.
HDPE Crates Market: Key players
The global HDPE crates market is highly fragmented and has a presence of a lot of regional players along with the international players. Some of the key players operating in the global HDPE crates market are Sharang Corporation, Nampak Ltd., ENKO Plastics, Gamma-Wopla nv, Chespak (Pty) Ltd., Kenpoly Manufacturers Limited, and Nilkamal Limited.,
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