Returnable Plastic Crate Market Size is valued at USD 1.72 Bn in 2023 and is predicted to reach USD 2.54 Bn by the year 2031 at a 5.15% CAGR during the forecast period for 2024-2031.
Returnable containers have emerged as a solution that effectively meets transportation requirements and significantly reduces losses in complex supply chain networks. Consequently, the returnable plastic crates are expected to become more popular during the projection period due to urbanization. Storage plastic crates, which are available in a variety of sizes and patterns, are an alternative to traditional wooden boxes. Reusable packaging as a service is one of the primary causes driving the rise of the returnable plastic crate market. Some organizations provide reusable packaging as a service, managing the whole lifetime of returnable plastic crates for enterprises and easing the load of maintenance and management for end users.
However, lockdowns and restrictions disrupted supply systems all around the world. This could have had an impact on RPC return and reuse logistics, causing disruptions in their intended cycle. Economic insecurity and downturns in numerous industries may have prompted some organizations to decrease expenditures, thus hurting investments in reusable packaging solutions such as RPCs.
Some Major Key Players In The Returnable Plastic Crate Market:
- Brambles Limited
- Myers Industries Inc.
- Supreme Industries Limited
- Schoeller Allibert Services BV.
- 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
- Others
Market Segmentation:
The Returnable Plastic Crate Market is segmented as capacity, product type, material, and application. As per the capacity, the market is segmented as less than 10 kg, 10 kg to 20 kg, 21 to 35 kg, 36 to 50 kg, and above 50 kg. The product type segment includes stackable, nestable, and collapsible. By material, the market is segmented into high-density polyethene (HDPE), polypropylene (P.P.), and others. The applications segment includes agriculture, grocery, dairy, bakery, seafood & meat, and others.
Based On Capacity, The Nestable Segment Is A Major Contributor In The Returnable Plastic Crate Market.
The nestable category is expected to hold a major share of the global Returnable Plastic Crate Market in 2024. Nestable boxes save a lot of space. They can be nested or stacked inside one another while not in use, minimizing the amount of storage space necessary, which is especially useful in warehouses, distribution centres, and during return transit. Nestable crates' space efficiency results in cost savings in storage and transportation. Lower warehouse expenses result from reduced storage space requirements, and the capacity to stack more crates on a single pallet results in lower shipping costs. Nestable containers make supply chain and logistical operations more efficient.
High-Density Polyethylene (HDPE) Segment Witnessed Growth At A Rapid Rate.
The High-density polyethene segment is projected to grow at a rapid rate in the global Returnable Plastic Crate Market. Because of its great durability, HDPE is ideal for applications requiring long-lasting and durable packaging solutions. HDPE boxes can withstand hard handling and safeguard the products being transported. Because HDPE is extremely recyclable, it is an environmentally friendly alternative. Businesses and industries are increasingly choosing packaging solutions produced from recycled HDPE or recyclable after use. HDPE crates with insulating qualities can be created, making them useful for temperature-regulated logistics, such as the delivery of medications and perishable items. HDPE crates can be customized with company logos and product information as a marketing tool during transit and in-store displays. The use of HDPE in returnable plastic crates is consistent with environmental objectives and efforts to reduce waste.
In The Region, Europe's Returnable Plastic Crate Market Holds A Significant Revenue Share.
Europe's Returnable Plastic Crate Market is expected to record the maximum market share in revenue in the near future. Europe has been a leader in environmental sustainability efforts, and there is a significant push to reduce single-use plastics. RPCs are compatible with the region's environmental goals because they are reusable and recyclable. The emphasis in Europe on efficient and sustainable supply chains pushes the deployment of RPCs. With their stackable and robust construction, these boxes help to streamline logistics and reduce environmental impact. Asia-Pacific, on the other hand, is expected to demonstrate profitable growth during the forecast period due to the region's higher concentration of prominence, expanding investment for research and development capabilities, and rising standard of living.
Recent Developments:
- In July 2023, DS Smith allocated €34 million into a strategic initiative aimed at substituting plastic and promoting environmentally-friendly packaging. DS Smith's Greek division has announced a total investment of €33.9m, which will be distributed across three facilities. These sites are focused on developing sustainable packaging solutions and will receive the investment over the course of the next two years.
Returnable Plastic Crate Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.72 Bn |
|
Revenue Forecast In 2031 |
USD 2.54 Bn |
|
Growth Rate CAGR |
CAGR of 5.15% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, Volume (Unit) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Capacity, By Product Type, By Material, By Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Brambles Limited, Myers Industries Inc., Supreme Industries Limited, DS Smith PLC, Schoeller Allibert Services B.V., 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., Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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