According to a recent report by Future Market Insights, the collapsible sleeve containers market crossed US$ 4.6 billion in 2019, and is expected to grow at 4.6% CAGR through 2030. However, demand weakened in 2020, as COVID-19 induced sluggishness engulfed the broader packaging industry, and various end-use industries. According to the report, innovations in raw materials for sustainable bulk packaging solutions are likely to aid growth in the industry.
In spite of the positive prospects of the collapsible sleeve container market, low awareness about the packaging formats and environmental concerns over raw materials are expected to hold back market growth.
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Key Takeaways The size of the collapsible sleeve containers market was US$ 4.6 billion, with food and agriculture logistics applications being major driving factors for the market. Food and beverage packaging applications will remain the primary source of revenue, driven by improvements to raw materials and associated barrier characteristics. Block pallets will account for higher demand, supported by weight and cost benefits in operations, which can be attributed for over 70% of the market share. East Asia is the leading regional market for collapsible sleeve containers, supported by the higher uptake of rigid packaging in the niches of building and textile sectors.
“Collapsible sleeve container manufacturers are likely to gain from rising disposable incomes of middle-class consumer populations who have become open to novel packaging solutions. Sleeve containers are also being increasingly made from recyclable materials which will aid in reducing the carbon footprint in the industry, thereby driving growth in the market,” said an FMI analyst.
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Covid-19 Impact Analysis
The coronavirus pandemic has had a moderately impact on the global collapsible sleeve containers market. Restrictions on production facilities due to lockdown regulations and disrupted supply chains for raw materials have hurt short-term growth prospects.
Manufacturers are likely to leverage the demand for essential commodities including food & beverage and pharmaceutical products to generate lucrative opportunities in the adoption of collapsible packaging formats.
Also, the expansion of the ecommerce sector during the crisis period and purchases of drugs and food through these channels are likely to result in growth opportunities, partially mitigating losses during the pandemic.
Competitive Landscape
Key players in the collapsible sleeve containers market include but are not limited to DS Smith plc, Schoeller Allibert Services B.V., Corn-Pearl North America Inc., Rehrig Pacific Company Inc., TranPak Inc., RPP Containers, Sohner Plastics LLC, Schuert Tectnologies LLC, CABKA Group, Buckhorn Inc., Reusable Transport Packaging Inc., Prairie Plastics Holdings LLC, Ribawood S.A., Qingdao CNplast Co. Ltd., and Enlightening Pallet Industry Co. Ltd.
Manufacturers are increasingly relying on product development and launch strategies to incorporate new, sustainable materials in addition to geographical expansion endeavors to offer improved solutions and to bolster consumer base in fragmented market landscapes.
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More Insights on the Global Collapsible Sleeve Container Market
In a new report, Future Market Insights offers a detailed analysis of the global collapsible sleeve container market covering historical demand from 2015 – 2019 and forecast data for the period between 2020 and 2030. The study covers projections of growth in the market in terms of box type (48x40x30”, 48x40x34”, and 48x40x45”), pallet type (block pallet, stringer pallet, and customized pallet), and end use (agriculture & allied industries, building & construction, chemical & pharmaceuticals, food & beverages, engineering products, textile & handicrafts, automotive & others), across seven key regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help