According to a new report by Future Market Insights (FMI), the global foldable container market is likely to be valued at US$ 2.0 Bn by the end of 2033 from US$ 1.3 Bn in 2023. The market is set to exhibit growth at a CAGR of 4.6% during the forecast period from 2023 to 2033.
Previously, the crew had difficulty loading and unloading containers used in intermodal shipping, which resulted in delays and expensive charges. On the other hand, foldable container is simple to handle, which has led to a large amount of use by freight companies.
Transfer of freight from one form of transportation to another is referred to as intermodal transportation. Since delays in product delivery are caused by ports’ severe traffic problems, foldable containers are becoming more and more popular, particularly in developing nations.
Also, foldable containers can reduce the required space and cost of transportation. In the past few years, international trade has increased significantly and the high volume of goods is projected to push the need for foldable & collapsible containers. Thus, intermodal transportation is anticipated to create profitable growth prospects for manufacturers of foldable containers.
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Storage is viewed as one of the most precious firm resources and is set to play a critical role in industrial or commercial warehouses. Additionally, space can be added to the expensive amount.
Storage space is expensive, and making use of that essential space profitably leads to additional savings. This feature is offered by foldable containers and the factor is anticipated to propel the global market.
Key Takeaways from Foldable Container Market
- By material, the plastic foldable container segment is projected to hold around 68% of the market value share by the end of 2033.
- By product type, the crates segment is anticipated to grow 1.8 times the current market value during 2023-2033.
- Based on end use, the shipping & logistics segment is projected to expand at a CAGR of 5.0% during the forecast period.
- The market for foldable containers in China is projected to expand at a CAGR of 5.5% in the next ten years.
- The foldable containers market is set to exhibit a positive growth rate by expanding 1.6 times the current value during the forecast period.
Drivers:
- Space Efficiency: Foldable containers are valued for their ability to save space when not in use. This is especially important in industries like shipping and logistics where storage space is at a premium.
- Cost Savings: Foldable containers can reduce transportation and storage costs due to their stackability and collapsibility, resulting in lower shipping and handling expenses.
- Sustainability: As sustainability becomes a more significant concern, foldable containers are preferred for their reusability and reduced environmental impact compared to single-use packaging.
- Customization: The ability to customize foldable containers to specific dimensions and requirements allows companies to optimize their supply chain and storage solutions.
- Ease of Handling: Foldable containers are designed for easy assembly and disassembly, making them user-friendly for workers in various industries.
- Global Trade Growth: The expansion of global trade and e-commerce has increased the demand for efficient and adaptable container solutions, boosting the foldable container market.
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Expanding Agriculture Sector and Surging Demand for Fresh Food to Boost Sales of Foldable Containers
Foldable containers have huge applications in the fresh foods industry. Many retailers and shopkeepers use plastic containers to store and ship fruits & vegetables. Small vendors are using these reusable containers for keeping fresh fruits & vegetables. Traditional containers used to create shipping and storage problems by taking up unnecessary space. Implementation of foldable containers would ease the problem and would help keep the cost low.
The agriculture sector is set to extensively use foldable containers for storage, as well as for the shipping of various agricultural products. When not in use, these containers can be stored in warehouses with minimum space. The constantly growing demand for fresh foods & vegetables and expansion of the organic agriculture sector are estimated to surge the demand for folding containers in the global market.
Competition Landscape: Foldable Container Market
Monoflo International, Schoeller Allibert Services B.V., DS Smith Plc, Steel King Industries, Inc., Sintex Group, IPL Plactics Inc., Tripak Solutions, and Myers Industries, Inc. are a few key players operating in the global foldable container market. Also, some of the other noticeable players in the market include Dolav UK Limited, Bekuplast GmbH, Intech Worldwide GmbH, Fletcher European, Corplex UK, Enco Plastic Limited, KTP Kunststoff Palettentechnik GmbH, Nilkamal Material Handling, NPP Group Limited, AUER PACKAGING, Transoplast Group, and others.
Foldable Container Market Outlook by Category
By Material:
- Plastic
- Metal
- Paperboard
By Product Type:
- Boxes & Cartons
- Crates
- Jerry Cans
- Pallet Boxes
- IBC
By End Use:
- Food & Beverage
- Pharmaceutical
- Chemical & Fertilizer
- Building & Construction
- Shipping & Logistics
- Other Consumer Goods
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About Future Market Insights (FMI)
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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