Plastic Crates Market Is Estimated to Witness High Growth

Plastic Crates Market Is Estimated to Witness High Growth

Plastic crates are reusable plastic containers used for transportation, storage and distribution of a wide variety of goods. They are durable, strong, water resistant, lightweight and cost-effective. Plastic crates provide effective solution for storage and transportation of goods in industries such as food and beverage, pharmaceuticals, automotive and chemicals.

The global plastic crates market was valued at US$ 3.78 billion in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.

Market Opportunity:

The growing e-commerce industry offers significant growth opportunity for plastic crates market. The rising penetration of internet and increasing preference of consumers towards online shopping has boosted the growth of e-commerce sector globally. According to India Brand Equity Foundation (IBEF), the Indian e-commerce market is projected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. Plastic crates provide efficient solution for storage, transportation and distribution of goods delivered through e-commerce channels. They withstand handling during logistics and transportation of goods. Their characteristics such as durability, strength and lightweight feature make them ideal packaging solution for e-commerce applications. Thus, the rising demand from e-commerce industry is estimated to drive the growth of global plastic crates market over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as plastics injection moulding requires high capital investment and machinery. However, raw materials are easily available.

Bargaining power of buyers: The bargaining power of buyers is medium as the plastic crate market sees demand from different industries like food and beverages, agriculture, chemicals etc. Buyers can choose from various manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of raw material suppliers. Suppliers do not have significant influence on pricing.

Threat of new substitutes: The threat of new substitutes is low as plastic crates have sufficient properties making them suitable for transportation and storage of goods.

Competitive rivalry: The competitive rivalry is high due to presence of numerous local and international players competing on the basis of product quality, pricing and innovation.

SWOT Analysis

Strength: Plastic crates are durable, corrosion resistant and easy to sanitize making them suitable for handling various products. They are lightweight and cost effective.

Weakness: Plastic materials are non-biodegradable and may cause pollution. Frequent handling can cause scratches and wear & tear reducing product life.

Opportunity: Growing e-commerce sector is boosting demand for efficient packaging and logistics. Increasing exports of fruits, vegetables and other commodities also presents an opportunity.

Threats: Stringent environmental regulations on use of plastics may restrict market growth to some extent. Volatility in plastic resin prices can increase production costs.

Key Takeaways

The global Plastic Crates Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Rapid urbanization and growth in consumption of packed goods are driving demand. The global plastic crates market was valued at US$ 3.78 billion in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030.

Regionally, Asia Pacific dominates the market with China, India and Japan being the major markets. Developing economies are witnessing rising incomes and consumption expenditure propelling market growth. North America and Europe are also sizable markets driven by well established food processing and logistics industries.

Key Players operating in the plastic crates market are Craemer Holding GmbH, Vaibhav Industries, BRAMMER, Schoeller Arca Time Materials Handling Solutions, Sino Holdings Group, Sintex, Myers Industries, DS Smith, Gamma-Wopla, and SSI Schaefer. These companies compete on product innovation, quality and pricing. Major players are expanding their manufacturing capacities and distribution networks globally to tap new markets.

Objectives of the Report:

1) Investigate and forecast the value and volume of the Plastic Crates market.

2) Estimate market shares for major Plastic Crates segments.

3) To demonstrate how the market for Plastic Crates is evolving in various parts of the world.

4) Research and analyze micro markets in terms of their contributions to the Plastic Crates market, as well as their prospects and individual growth patterns.

5) To provide precise and useful information on the factors influencing the rise of Plastic Crates.

6) To provide an in-depth analysis of key business strategies used by major companies in the Plastic Crates market, such as R&D, collaborations, agreements, partnerships, acquisitions, mergers, new product launches, and acquisitions, mergers, and acquisitions.

FAQ’s

Q.1 What are the main factors influencing the Plastic Crates market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Plastic Crates Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Plastic Crates market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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