Jersey City, NJ, Dec. 05, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Returnable Plastic Crate Market - (By Capacity (Less than 10 kg, 10 kg to 20 kg, 21 to 35 kg, 36 to 50 kg, Above 50 kg), By Product Type (Stackable, Nestable, Collapsible), By Material (High-Density Polyethylene (HDPE), Polypropylene (P.P.), Others), By Application (Agriculture, Grocery, Dairy, Bakery, Seafood & Meat, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Returnable Plastic Crate Market is valued at US$ 1.65 Bn in 2022, and it is expected to reach US$ 2.54 Bn by 2031, with a CAGR of 5.03% during the forecast period of 2023-2031.
Returnable packaging comprises tough materials like metals, plastics, or wood and is meant to survive the severe treatment of traditional shipping systems. Returnable plastic crates are utilised throughout the fruit and vegetable supply chain, including harvesting, handling, packing, and delivery, as well as in retail. The use of the same for fresh produce handling has a number of benefits, including the potential to improve environmental sustainability.
The rising end-use industries, the shifting trend towards sustainable packaging, rigorous rules on packaging disposal, and the presence of key returnable plastic crate manufacturers in the region all contribute to the market's overall growth in this region. some of the factors expected to drive the returnable plastic crates market include growing concerns about packaging disposal and the need to reduce environmental impact, strong demand for returnable plastic crates from end-use industries, and the need for sustainable and cost-effective packaging solutions. Rising necessity from emerging economies, as well as increased R&D spending by manufacturers, provide chances for the market to flourish.
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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.
List of Prominent 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
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Returnable Plastic Crate Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 1.65 Bn |
| Revenue Forecast In 2031 | USD 2.54 Bn |
| Growth Rate CAGR | CAGR of 5.03% from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Bn, Volume (Unit) and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| 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 |
Market Dynamics:
Drivers:
Growing environmental concerns have boosted the demand for environmentally friendly and sustainable packaging. Packaging producers are now focusing on providing sustainable and ecofriendly packaging that can be recycled and reused. These producers are investing in R&D efforts and technology to provide environmentally friendly, cost-effective packaging solutions that do not compromise the protection level offered to the packed goods. Increasing R&D spending to produce sustainable packaging materials will provide chances for growth in the returnable plastic crates industry.
Challenges:
When compared to single-use options, the initial cost of procuring RPCs can be higher. This expense can be prohibitive for certain businesses, particularly those that are tiny or have limited resources. Coordination of RPC return and reuse across the supply chain necessitates effective logistics and reverse supply chain management. It might be difficult to manage the logistics of returning empty boxes from merchants to producers. Furthermore, events like the COVID-19 epidemic might interrupt global supply networks, impeding RPC return and reuse. During such occasions, transportation and logistical issues can undermine the effectiveness of the returnable system.
Regional Trends:
Europe's Returnable Plastic Crate Market is expected to register a major market share in terms of revenue and it is projected to grow at a high CAGR in the near future. In Europe, the improved Eurozone economy is expected to boost industrial output, which will fuel growth in the agriculture, construction, chemical, and food and beverage markets in the coming years. Countries with a strong industrial foundation, such as Germany, France, Italy, as well as the UK, will be critical to the development of the European returnable plastic boxes sector. With the advent of e-commerce in Europe, there is a greater need for economical and reusable packaging solutions. RPCs are well-suited to the demands of e-commerce logistics due to their capacity to tolerate repeated travels. During the projected period, the rising end-use industries are expected to drive demand for returnable plastic boxes.
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Segmentation of Returnable Plastic Crate Market-
By Capacity-
- Less than 10 kg
- 10 kg to 20 kg
- 21 to 35 kg
- 36 to 50 kg
- Above 50 kg
By Product Type-
- Stackable
- Nestable
- Collapsible
By Material-
- High-Density Polyethylene (HDPE)
- Polypropylene (P.P.)
- Others
By Application-
- Agriculture
- Grocery
- Dairy
- Bakery
- Seafood & Meat
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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