NEWARK, Del, Dec. 30, 2022 (GLOBE NEWSWIRE) -- According to a new report by Future Market Insights (FMI), the global foldable container market is likely to be valued at US$ 2.0 Bn by the end of 2033 from US$ 1.3 Bn in 2023. The market is set to exhibit growth at a CAGR of 4.6% during the forecast period from 2023 to 2033.
Transfer of freight from one form of transportation to another is referred to as intermodal transportation. Since delays in product delivery are caused by ports' severe traffic problems, foldable containers are becoming more and more popular, particularly in developing nations.
Previously, the crew had difficulty loading and unloading containers used in intermodal shipping, which resulted in delays and expensive charges. On the other hand, foldable container is simple to handle, which has led to a large amount of use by freight companies.
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Bulk containers that are efficient in terms of time and space usage, as well as cost are required for this type of transportation. Foldable or collapsible containers take lease space as they are one-fifth of their actual size after folding.
Also, foldable containers can reduce the required space and cost of transportation. In the past few years, international trade has increased significantly and the high volume of goods is projected to push the need for foldable & collapsible containers. Thus, intermodal transportation is anticipated to create profitable growth prospects for manufacturers of foldable containers.
Storage is viewed as one of the most precious firm resources and is set to play a critical role in industrial or commercial warehouses. Additionally, space can be added to the expensive amount.
Storage space is expensive, and making use of that essential space profitably leads to additional savings. This feature is offered by foldable containers and the factor is anticipated to propel the global market.
Foldable container can also meet the need for items that may increase storage capacity that shipping and storage managers are continuously seeking. Thus, need for cost and space-effective storage containers are projected to boost the demand for foldable containers.
Key Takeaways from Foldable Container Market
- By material, the plastic foldable container segment is projected to hold around 68% of the market value share by the end of 2033.
- By product type, the crates segment is anticipated to grow 1.8 times the current market value during 2023-2033.
- Based on end use, the shipping & logistics segment is projected to expand at a CAGR of 5.0% during the forecast period.
- The market for foldable containers in China is projected to expand at a CAGR of 5.5% in the next ten years.
- The foldable containers market is set to exhibit a positive growth rate by expanding 1.6 times the current value during the forecast period.
“Increasing demand for foldable containers in consumer goods, building & construction, chemical & fertilizer, pharmaceutical, and food & beverage industries is projected to drive the market. In addition, foldable containers are highly durable in nature, which would push their adoption among e-commerce companies.” – says an FMI analyst.
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Expanding Agriculture Sector and Surging Demand for Fresh Food to Boost Sales of Foldable Containers
Foldable containers have huge applications in the fresh foods industry. Many retailers and shopkeepers use plastic containers to store and ship fruits & vegetables. Small vendors are using these reusable containers for keeping fresh fruits & vegetables. Traditional containers used to create shipping and storage problems by taking up unnecessary space. Implementation of foldable containers would ease the problem and would help keep the cost low.
The agriculture sector is set to extensively use foldable containers for storage, as well as for the shipping of various agricultural products. When not in use, these containers can be stored in warehouses with minimum space. The constantly growing demand for fresh foods & vegetables and expansion of the organic agriculture sector are estimated to surge the demand for folding containers in the global market.
Competition Landscape: Foldable Container Market
Monoflo International, Schoeller Allibert Services B.V., DS Smith Plc, Steel King Industries, Inc., Sintex Group, IPL Plactics Inc., Tripak Solutions, and Myers Industries, Inc. are a few key players operating in the global foldable container market. Also, some of the other noticeable players in the market include Dolav UK Limited, Bekuplast GmbH, Intech Worldwide GmbH, Fletcher European, Corplex UK, Enco Plastic Limited, KTP Kunststoff Palettentechnik GmbH, Nilkamal Material Handling, NPP Group Limited, AUER PACKAGING, Transoplast Group, and others.
Get Exclusive Insights into the Foldable Container Market Report
Future Market Insights, in its new report, offers an unbiased and thorough analysis of the global foldable container market, analyzing historical demand from 2018-2022 and forecast statistics for 2023-2033. The study reveals market growth projections for the foldable container market based on the material (plastic, metal, paperboard), product type (boxes & cartons, crates, jerry cans, pallet boxes, and IBC), and end use (food & beverage, pharmaceutical, chemical & fertilizer, building & construction, shipping & logistics, and other consumer goods) across seven regions.
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Foldable Container Market Outlook by Category
By Material:
- Plastic
- Metal
- Paperboard
By Product Type:
- Boxes & Cartons
- Crates
- Jerry Cans
- Pallet Boxes
- IBC
By End Use:
- Food & Beverage
- Pharmaceutical
- Chemical & Fertilizer
- Building & Construction
- Shipping & Logistics
- Other Consumer Goods
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ 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.
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