Global Collapsible Crates Market Overview
The collapsible crates are an essential product of packaging in the logistics industry, with significantly used metal hinges or plastic to attach the sides of these crates. The collapsible crate can be folded to save space and to collapse the container. The advantages of collapsible crates include lightweight, convenience during transportation and the easy-to-reassemble quality. These factors are attracting many logistics companies to opt for collapsible crates instead of other returnable crates.
The low cost of collapsible crates, as well as their application in residential and industrial use, is amplifying the demand for the collapsible crates market. The global collapsible crates market consists of many local and global manufacturers around the globe owing to its tie-up with numerous logistic companies. The increasing demand in the logistics industry for collapsible crates is creating an opportunity for many small and key players to expand their product range and distribution network across the globe by collaborating with the local and global distributors. As a result, the global collapsible crates market is expected to witness high growth during the forecast years.
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Global Collapsible Crates Market Scenario
The global collapsible crates market is anticipated to register high growth in CAGR over the forecast period from 2018-2028. The rising demand for collapsible crates in the packaging industry is expected to amplify the value chain process of collapsible crates globally. Like most of the other sectors, the logistics industry is also undergoing change. Thereby, with these changes, collapsible crates market will showcase increased opportunities for manufacturers in developed as well as emerging economies.
However, the collapsible crates market is expected to exhibit strong growth in developing countries, such as India, China, and the Middle East & African countries due to the rapidly rising urbanization, increasing per capita spending and increasing GDP growth rate. The largest market share in the global collapsible crates market is expected to be contributed by APEJ due to the growing packaging industry with a high CAGR and economic cost of collapsible crates, followed by North America and Europe.
Global Collapsible Crates Market Dynamics
The key primary factors which are driving the growth of the global collapsible crates market in the packaging industry are the continuous introduction of cost-effective packaging solutions with low possibility of damage and providing more free space compares to the other conventional crates after the transportation of the products is completed.
Alternate driving factors in global collapsible crates market are increasing the demand for collapsible crates among many logistics companies and end users (in a residential application). With increasing per capita spending of end-users on grocery, food and bakery products, there is an opportunity for many companies to increase the sales of their products in the collapsible crates segment. Thus, several collapsible crates manufacturing companies involved in the sales and marketing of collapsible crates are successfully making the most of these opportunities.
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Global Collapsible Crates Market Segmentation
The collapsible crates market can be segmented on the basis of product types, material types, application and capacity. On the basis of product types, collapsible crates market can be categorized into decorative bins and box files. On the basis of material types, the collapsible crates market can be segmented into polyester, plastic, polypropylene, wood, metal, cotton, canvas, maize, cardboard and other material types. On the basis of application, the market can be classified into residential, commercial and industrial.
On the basis of capacity, the collapsible crates market can be classified into less than 10 kg, 10 kg- 20 kg, 20kg- 35 kg, 35kg- 50 kg and more than 50 kg. Geographically, the global collapsible crates market can be segmented into seven regions, namely North America, Latin America, Europe, CIS & Russia, Japan, Asia Pacific except Japan and Middle East & Africa.
Global Collapsible Crates Market Key Players
Despite the concentration of key logistics players in well-established regions, collapsible crate manufacturers are mainly focusing on Asian countries, mostly China, India and the Middle East & African countries due to the rising globalization.
These companies are constantly working on introducing new innovations in collapsible crates with more efficient and cost-effective solutions. Some of the key market participants in the global collapsible crates market are Brambles Ltd (CHEP); Schoeller Allibert Services B.V; Buckhorn (a Myers Industries, Inc Co.); Supreme Industries Limited; TranPak, Inc. and other prominent players.
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