The global crates market is poised for substantial growth, estimated to be valued at USD 5,692.0 million in 2024 and projected to reach USD 8,557.2 million by 2034, representing a compound annual growth rate (CAGR) of 4.2% during the forecast period. The revenue generated by crates in 2023 was USD 5,496.1 million, indicating a solid foundation for future expansion.
Market Dynamics and Trends
The crates segment between 11 kg to 50 kg is expected to dominate the market, capturing a significant market share of 49.9% in 2024. These crates are extensively utilized in various industries, including food and beverages, pharmaceuticals, electronics, and automotive, owing to their ideal balance of weight and strength. This balance not only facilitates ease of handling but also enables the transport of considerable loads, making them a preferred choice for many applications.
Manufacturers are focusing on developing robust crates made from durable materials, ensuring sufficient resilience for rigorous storage and transportation needs. The demand for high-quality, reliable crates is driven by the increasing need for efficient packaging and logistics solutions across multiple sectors.
Demand is especially rising for plastic crates due to their low cost, easy transportation, and lightweight features. However, with rising environmental concerns, sales of wooden crates are likely to gain traction during the forecast period.
The expanding R&D initiatives related to crates design for effective transportation at cheaper costs are likely to boost the market growth. The use of crates in the booming import and export business around the world is expected to have a substantial impact on the crates market.
Regionally, demand for crates is likely to grow at a higher pace across developing nations because of rapid economic development and expanding manufacturing sector.
Global Crates Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for global crates market by material type (plastic crate, wooden crate, and metal crate), by product type (stackable, nestable, and collapsible), by end-use (food & beverages, pharmaceuticals & medical devices, automotive, building and construction, logistics and transportation) across seven regions.
Key Takeaways from Global Crates Market
- Based on material type, the plastic crate category is expected to hold almost 1/4th value share in the global crates market.
- By product type, collapsible crates segment is expected to grow at the fastest CAGR during the forecast period.
- Based on end use, the food and beverages segment is anticipated to expand at 6.5% CAGR through 2032.
- The U.S. crates market is projected to grow at a CAGR of 5.5% between 2022 and 2032, reaching a valuation of around US$ 892.4 Mn in 2022.
- The Indian crates market is expected to grow at a CAGR of 7.6% during the projection period.
“The global crate market is likely to witness significant growth over the projected period due to rapid expansion of food & beverages industry worldwide. Furthermore, HDPE crates are projected to be extremely profitable for crate makers.” –comments FMI Analyst
Global Crates Market by Category
By Material Type:
- Plastic
- High-density Polyethylene (HDPE)
- Polypropylene (PP)
- Wooden
- Metal
By Product Type:
- Stackable
- Nestable
- Collapsible
By End Use:
- Food & Beverages
- Pharmaceuticals & Medical Devices
- Automotive
- Building and Construction
- Logistics and Transportation
Food & Beverages Sector is the Key Driver of Global Crates Market
The food and beverage business has the highest demand for crates on the market. The rise of the food processing industry due to growing consumption of packaged foods is likely to play a key role in fostering sales of crates during the forecast period.
Due to increased beverage consumption around the world, crates are in great demand. 85.6 percent of Americans over the age of 18 have consumed alcohol at some point in their life, according to the 2019 National Survey on Drug Use and Health. Attributing to increasing sales of beverages, demand for partition crates for transportation of delicate glass beverage bottles is rising at a robust pace.
Who is winning?
Key players in the plastic crate industry are concentrating on providing lighter-weight and more environmentally friendly crates. Some of these key players are Brambles Limited, Schoeller Allibert AB, NEFAB GROUP, Myers Industries, Inc., DS Smith PLC, Dynawest Limited, Craemer UK Ltd, SABIC, Supreme Industries Limited, Rehrig Pacific Company, Inc.
Access Full Report: https://www.futuremarketinsights.com/reports/crates-market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
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