The returnable plastic crates market synopsis shows that the value of overall returnable plastic crates market is expected to witness a spike at a year-on-year (Y-o-Y) growth of 5.4% in 2021-2022. The returnable plastic crates market is anticipated to be led by the North American region which is projected to capture a significant market share of 30.8% in 2022.
FMI estimates that in 2022, the Spain returnable plastic crates market will increase 5.8% year on year. Across the whole of Western Europe, total revenue of returnable plastic crates is forecast to reach USD 417.3 Million in 2022.
Nestable crates are expected to be dominant in the returnable plastic crates market, capturing around half of the market share over the forecast years. The stackable nature of these crates enables users to make efficient use of floor area. Lightweight, easy handling, and economical cost are other attributes that make nestable crates the preferred choice among end users.
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Manufacturers of returnable plastic crates can gain significant profits by targeting vertical farming manufacturers and catering to the increasing demand for packaging from the dairy industry.
Key Takeaways of Returnable Plastic Crates Market Study
Increasing Use of RPCs for Logistics and Transportation of Bulk Materials in North America and Europe
Rapid adoption of returnable plastic crates in the mature markets of North America and Europe for the bulk packaging of fresh produce, dairy, bakery, seafood, meat, and grocery is largely driven by consumer and market demand for high quality products. Moreover, the large number of manufacturers and distributors of returnable plastic crates in these regions boosts market growth. Manufacturers supply large volumes of returnable plastic crates and containers to meet the global demand for effective storage solutions, and to be a part of this rapidly growing market.
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Additionally, returnable plastic crates are also available in various dimensions, and custom colours and logo designs, which attracts customer towards products in supermarkets and hypermarkets. Availability of better logistics and supply chains management for the fast growing packaged food and FMCG sectors offers lucrative opportunities for the returnable plastic crates market in these regions.
Developed Regional Markets Hold 60% Share
North America and Western Europe lead the pack in the global returnable plastic crates market, with collective share of about 60% of total revenues. These developed regions continue to garner huge stakeholder attention on the back of strong presence of enhanced logistics & supply chains for the booming fast-moving consumer goods (FMCG) and packaged food sectors.
Market penetration in Asia Pacific excluding Japan (APEJ) remains the focal point for players in the returnable plastic crates market, as the region is the global leader of the packaging industry.
Competitive Landscape
Leading returnable plastic crates manufacturers are committed to the research and development of the product and are consistently offering innovative returnable plastic cratesba solutions targeted towards specific end use.
Companies operating in the returnable plastic crates market are aiming at product launches and expansions with other manufacturers.
Returnable Plastic Crates Market By Category
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