NEWARK, Del, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The global returnable plastic crate market is anticipated to reach a valuation of US$ 1.7 billion in 2023, driven by advanced tracking and traceability. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.4% between 2023 and 2033 and reaching a total valuation of approximately US$ 2.9 billion by 2033.
One of the major factors contributing to the growth of the returnable plastic crate market is reusable packaging as a service (RPaaS. Some companies offer reusable packaging as a service, where they manage the entire lifecycle of returnable plastic crates for businesses, reducing the burden of maintenance and management for end users.
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Continued developments in plastic materials, including those that are lighter, more durable, and have improved insulation properties, expand the potential applications for returnable plastic crates. Companies operating in the returnable plastic crate market are increasingly looking to expand into new geographic regions, especially in emerging markets with growing manufacturing and export activities.
Awareness campaigns and training programs for businesses are helping them better understand the benefits of returnable plastic crates and how to integrate them into their supply chains. Companies are aligning returnable plastic crate solutions with their broader sustainability goals, creating opportunities for marketing and branding as eco-friendly partners.
The healthcare and pharmaceutical sectors recognize the advantages of using returnable plastic crates for transporting sensitive medical equipment and supplies, presenting a growth opportunity. Returnable plastic crates with insulation properties are becoming crucial in the cold chain logistics industry for the safe transport of temperature-sensitive products, such as food and pharmaceuticals.
Improved crate closure and security features are helping deter theft and tampering during transportation, increasing the appeal of returnable plastic crates in high-value product segments. The development of efficient reverse logistics systems for the retrieval and refurbishment of returnable plastic crates is helping businesses maximize their return on investment and reduce environmental impact.
Key Takeaways from the Market Study
- The global returnable plastic crate market was valued at US$ 1.6 billion by 2022 end.
- From 2018 to 2022, the market demand expanded at a CAGR of 5.0%.
- The market in India is expected to expand at a CAGR of 6.5% through 2033.
- By material, the HDPE segment will account for a share of 49.5% in 2023.
- From 2023 to 2033, the returnable plastic crate market is expected to flourish at a CAGR of 5.4%.
- By 2033, the market value of returnable plastic crates is expected to reach US$ 2.9 billion.
“Customized crate designs that allow for efficient stacking and nesting during transportation and storage are gaining traction as they save space and improve warehouse utilization,” says Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
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Competitive Landscape
Prominent players in the returnable plastic crate market are Brambles Limited, Myers Industries Inc., Supreme Industries Limited, Schoeller Allibert Services B.V., DS Smith PLC, Rehrig Pacific Company Inc., TranPak Inc., IPL Plastics Inc., RPP Containers, Craemer UK Limited, Dynawest Limited, Dolav UK Limited, Ravensbourn Limited, Zhejiang Zhengji Plastic Industry Co. Ltd., and Stamford Products Limited, among others.
Key Companies Profiled
- Brambles Limited
- Myers Industries Inc.
- Supreme Industries Limited
- Schoeller Allibert Services B.V.
- DS Smith PLC
- Rehrig Pacific Company Inc.
- TranPak Inc.
- IPL Plastics Inc.
- RPP Containers
- Craemer UK Limited
- Dynawest Limited
- Dolav UK Limited
- Ravensbourn Limited
- Zhejiang Zhengji Plastic Industry Co. Ltd.
- Stamford Products Limited
Recent Developments
- In 2023, DS Smith announced the development of a new returnable plastic crate that is specifically designed for the eCommerce market.
- In the same year, Rehrig Pacific Company announced the launch of its new NestBox returnable plastic crate, which is designed for easy stacking and storage.
- In 2022, Mpact Limited announced the expansion of its production capacity for returnable plastic crates at its plant in South Africa.
- In 2022, Ravensbourn announced the launch of its new EcoCrate returnable plastic crate, which is made from 100% recycled materials.
- In the same year, Didak Injection announced the development of a new returnable plastic crate that is specifically designed for the pharmaceutical industry.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global returnable plastic crate market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the returnable plastic crate market, the market is segmented on the basis of capacity (less than 10 kg, 10 kg to 20 kg, 21 kg to 35 kg, 36 kg to 50 kg, and above 50 kg), product type (stackable, nestable, and collapsible), material (high density polyethylene (HDPE), polypropylene (PP), and others), and application (agriculture, grocery, dairy, bakery, seafood & meat, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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Segmentation Analysis of the Returnable Plastic Crate Market
By Capacity:
- Less than 10 Kg
- 10 Kg to 20 Kg
- 21 Kg to 35 Kg
- 36 Kg to 50 Kg
- Above 50 Kg
By Product Type:
- Stackable
- Nestable
- Collapsible
By Material:
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Application:
- Agriculture
- Grocery
- Dairy
- Bakery
- Seafood & Meat
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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