NEWARK, Del, Feb. 21, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights’ latest industry analysis, the global market size for beverage crate is estimated to be around US$ 404.20 million in 2024. It is projected to exhibit a CAGR growth of 5.20% over the forecast period, with an estimated market size of US$ 668.20 million in 2034.
The last few years have seen tremendous growth in the global food and beverage industry. This has pushed the demand for effective packaging solutions, such as beverage crates. The growing adoption of beverage crates is mainly due to the expansion of retail chains, supermarkets, convenience stores, and online retail platforms, leading to an increased need for packaging solutions to ensure beverages reach consumers safely and intact.
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The rising popularity of craft beers, artisanal sodas, and specialty beverages is also contributing to an increased demand for beverage crafts. The growing acceptance of reusable beverage crates due to their sustainability and cost-effectiveness is leading to their growing consumption by both businesses and consumers. Besides this, governments around the world are also implementing regulations aimed at reducing single-use plastics and promoting responsible packaging practices, which is further driving the adoption of reusable beverage crates.
As the demand for beverages such as soft drinks, beer, water, and juices continues to rise, the need for packaging solutions that can ensure the safe delivery of the products is becoming more critical. Restaurants, bars, cafes, and catering companies are increasingly opting for beverage crates to transport and store large quantities of beverages for serving to customers. Event planners, caterers, and party rental companies also prefer beverage crates for transporting and serving beverages at events, parties, and gatherings.
“Companies in the beverage crate market must continuously innovate and develop new beverage crate designs, materials, and features to meet evolving customer needs and preferences, such as improved durability, sustainability, and customization options,” opines a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study
- The HDPE segment dominates the global beverage crate market with a market share of 65.90%.
- On the basis of end-use, the alcoholic drinks segment leads the beverage crate market with a market share of 28.10%.
- The beverage crate market in the United Kingdom is anticipated to grow at a modest CAGR of 5.200% through 2034.
- The beverage crate market in China is estimated to rise at a 6.80% CAGR through 2034.
- The beverage crate market in Thailand has the potential to increase at 6.20% CAGR through 2034.
- The Indian beverage crate market is predicted to rise by 6.10% CAGR through 2034.
- The beverage crate market in South Korea is very likely to grow at a CAGR of 5.20% through 2034.
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Competitive Landscape
- The global market for beverage crates is highly competitive with the presence of numerous international and domestic companies.
- Specialized beverage crates are being curated by manufacturers to cater to the trend of artisanal beverages.
- Some companies in the market are using sustainable materials to meet the demand of eco-conscious consumers and businesses.
- There is also a push for reusable or recyclable crates in the market to minimize the environmental impact of the products.
Key Companies in the Market
- Schoeller Allibert
- Polymer Logistics
- DS Smith Plastics
- IPL Plastics
- Craemer Group
- CABKA Group
- Rehrig Pacific Company
- The Orbis Corporation
- Brambles Limited
- Reusable Transport Packaging
- Schaefer Systems International
- Rehrig Pacific Company
- Greif Inc.
- Buckhorn Inc.
- Mauser Packaging Solutions
- PalletOne Inc.
- TriEnda Holdings LLC
- SSI Schaefer Packaging
- TranPak Inc.
- Eurocontainers Group
Recent Developments:
- In September 2023, Costco Wholesale Japan and household products maker Kao introduced crates that serve as both shipping containers and display shelves. This initiative, which included reusable containers for Attack laundry detergent, aimed to combat Japan's labor shortage while reducing restocking time by 20% and minimizing environmental impact.
- In December 2023, German drugstore DM and Procter and Gamble made a transition to reusable GS1 Smart-Box transport crates, slashing 50 metric tons of disposable packaging. Initial savings were observed in P&G's Gillette line, with plans to expand usage to other categories for further environmental and efficiency gains.
- In July 2023, Pact Group secured an extension of its plastic crate pooling contract with Woolworths Group for 10 years. Pact, responsible for operations including washing and storage, facilitated the circulation of reusable crates from suppliers to stores, generating over $50 million annually. These crates effectively replaced single-use cardboard and polystyrene boxes.
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Market Segmentation
By Material Type:
- HDPE (High-density polyethylene)
- PP (polypropylene)
- Others
By Product Type:
- Nestable and Stackable
- Collapsible
By Application:
- Alcoholic Drinks
- Beer
- Wine
- Spirits
- Other Alcoholic Beverages
- Non-alcoholic drinks
- Fruit juices
- Carbonated drinks or soda
- RTD beverages
- Bottled water
- Tea & coffee
- Milk Products
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Explore Trending Reports of Packaging
- The returnable plastic crate market size is likely to reach US$ 2.9 billion by 2033. The market is further expected to surge at a CAGR of 5.4% during the forecast period 2023 to 2033.
- The global HDPE crates market is forecast to grow at a CAGR of 5.6% to be valued at US$ 1,876.4 Million from 2022 to 2032.
- The global crates market size is slated to increase at 5.9% CAGR between 2023 and 2033, totaling around US$ 9.95 billion by 2033.
- The e-commerce packaging market is predicted to rise at a CAGR of 10.6% from 2024 to 2034. The global e-commerce packaging market is anticipated to reach US$ 210 billion by 2034.
- The global thin-wall plastic container market is anticipated to reach US$ 54,315 million by 2034. The thin wall container market is projected to expand at a CAGR of 4.8% over the forecast period.
- The global sales of aseptic IBC (intermediate bulk containers) are projected to rise at a CAGR of around 5.0% between 2022 and 2032,
- The global LDPE containers market is estimated to reach a valuation of nearly US$ 59 Billion by 2032, growing at 5% to 6% CAGR during the forecast period.
- The nestable drums market is likely to register a CAGR of 7% during the forecast period and is anticipated to reach a market share of US$ 23.61 Billion in 2032.
- The global logistics packaging market size is anticipated to surpass US$ 40,205.9 Million by 2032, with a CAGR of 4.6% during the forecast period (2022 to 2032).
- The global foldable steel containers market size is expected to rise at a CAGR of 4.5% in the forecast period from 2023 to 2033. The value is projected to increase from US$ 95.3 million in 2023 to US$ 148.0 million by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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