Global Returnable Plastic Crate Market – Industry Trends and Forecast to 2029

Global Returnable Plastic Crate Market, By Material (High Density Polyethylene (HDPE), Polypropylene (PP), Others), Type (Stackable, Nestable, Collapsible), Capacity (Less Than 10 Kg, 10 Kg to 20 Kg, 20 Kg to 35 Kg, 35 Kg to 50 Kg, More Than 50 Kg), Application (Agriculture, Grocery, Dairy, Bakery, Seafood and Meat, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

As per the estimates, by the year 2030, 60 percent of the world's population is anticipated to reside in cities. By the end of 2030, there could be 4.9 billion people in the middle class worldwide, with China anticipated to have nearly 1 billion of them. Returnable containers have become a product that fits transportation needs and considerably lowers losses in this extensive network of supply chains. As a result, the returnable plastic crates are projected to gain traction over the forecast period with increased urbanization.

Global returnable plastic crate market was valued at USD 1.55 billion in 2021 and is expected to reach USD 2.40 billion by 2029, registering a CAGR of 5.6% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

Corrugated fiberboard is used to make the huge, rectangular plastic crates. Products and goods that need to be protected from the elements while being transported or stored are used as packing. An alternative to conventional wooden boxes is storage plastic crates, which come in a range of sizes and designs.

Returnable plastic crates are designed to move organic food from farms to markets and from markets to homes (especially in online shopping and home delivery models). Perishable produce is well-protected and kept cool in these containers, which is essential for preservation.

Returnable Plastic Crate Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Growing Usage of Returnable Plastic Crate

The increasing number of applications from various end-user industries such as agriculture, grocery, dairy, bakery, seafood and meat and others are likely boost the growth of the returnable plastic crates market during the forecast period of 2022-2029.

• Increased Consumption of Packaged Food Globally

Demand for plastic crates has increased due to increased packaged food demand and door-to-door delivery. These can keep food and other products fresher for longer than other packaging options. This raises demand on the global market. Furthermore, once the delivery is complete, these can be reused, saving the cost of purchasing new crates. As a result, consumers prefer plastic crates to cardboard packaging. Following the pandemic, people around the world are gravitating toward well-packaged items, which are expected to increase demand for returnable plastic crates globally.

• Growth and Expansion Of End-User Verticals

The materials and packaging industry has a lot of room to grow as the global economy improves. The expansion and growth of various end-user verticals such as food and beverage, healthcare, chemicals, and others is directly proportional to the rising demand for materials and packaging solutions.

Furthermore, the factors such as rapid industrialization across the globe, rapid urbanization and globalization are driving market value growth. Other market growth determinants include rapid development in flexible packaging solutions, increasing technological advancements in packaging equipment and technology to accommodate a diverse range of products and increased e-commerce industry proliferation. Furthermore, advances in manufacturing technology, improving consumer lifestyles and rising demand for crates for goods transportation and efficient storage provide various growth prospects to market participants from 2022 to 2029. Furthermore, there is a growing awareness of the advantages of using plastic crates, such as cost-effectiveness and increased product quality.

Opportunities

• Increasing Initiatives and Awareness

Furthermore, the increasing government initiatives to support domestic and international trade extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the rising awareness about the benefits of returnable plastic crate will further expand the future growth of the returnable plastic crate market.

Restraints/Challenges

• Stringent Environment Policies and Approval Regulations

The increasing enforcement of stringent environmental regulations imposed on industries regarding the packaging waste generated will impede the growth of the returnable plastic crates market. Furthermore, stringent product approval regulations will limit the scope of growth for the returnable plastic crates market. With the increasing number of restrictions imposed around the world as a result of the pandemic, there has been a drop in the demand and supply of packaging solutions. 

• Fluctuations in Raw Material Prices

The fluctuations in the prices of raw materials will prove to be a demerit for the returnable plastic crate market. Therefore, this factor will challenge the returnable plastic crate market growth rate.

This returnable plastic crate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the returnable plastic crate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Returnable Plastic Crate Market

The recent outbreak of coronavirus had a negative impact on the returnable plastic crate market. The severe disruptions in various manufacturing as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease les to huge financial setback for the market. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets since the general economic situation of most people has been badly impacted by the outbreak. Over the forecast period, the aforementioned determinants will weigh on the market's revenue trajectory.

On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue, and the market is estimated to expand.

Global Returnable Plastic Crate Market Scope

The returnable plastic crate market is segmented on the basis of material, type, capacity and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• High Density Polyethylene (HDPE)
• Polypropylene (PP)
• Others

 Type

• Stackable
• Nestable
• Collapsible

 Capacity

• Less Than 10 Kg
• 10 Kg to 20 Kg
• 20 Kg to 35 Kg
• 35 Kg to 50 Kg
• More Than 50 Kg

Application

• Agriculture
• Grocery
• Dairy
• Bakery
• Seafood and Meat
• Others

Returnable Plastic Crate Market Regional Analysis/Insights

The returnable plastic crate market is analyzed and market size insights and trends are provided by country, material, type, capacity and application as referenced above.

The countries covered in the returnable plastic crate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth in this region is attributed to the growing demand for convenient handling packaging solutions within the region.

Asia-Pacific, on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the higher concentration of prominent, rising expenditure for research and development proficiencies and increasing standard of living in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Returnable Plastic Crate Market Share Analysis

The returnable plastic crate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to returnable plastic crate market.

Some of the major players operating in the returnable plastic crate market are

• WestRock Company (U.S.)
• Smurfit Kappa (Ireland)
• International Paper (U.S.)
• Inteplast Group (U.S.)
• UNITED BAGS, INC (U.S.)
• Ronpak. (U.S.)
• El Dorado Packaging (U.S.)
• Danimer Scientific (U.S.)
• Evonik Industries AG (Germany)
• Eastman Chemical Company (U.S.)
• Novolex (U.S.)
• NOVPLASTA CZ, s.r.o (Czechia)
• PAPIER-METTLER KG (Germany)
• PackagingPro (India)
• CPS Paper Products (U.K.)
• BASF SE (Germany)
• NatureWorks LLC (U.S.)
• TT Global Chemical Public Company Limited (Thailand)