HDPE to Dominate the Collapsible Crates Market Through 2030
Collapsible crates market has shown prominent growth with high demand from commercial applications. Heightening demand from agricultural applications has been one of the primary drivers for the collapsible crates market growth within the commercial sector.
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Need for compact and stackable solutions has led to increased adoption of collapsible crates in industries like agriculture, retail stores and commercial offices. Growth of collapsible crates is also supplemented by efforts of manufacturers in increasing penetration in the market. While the demand is expected to be dampened during 2020 owing to the COVID-19 crisis, collapsible crates market is anticipated to portray prominent growth during recovery period.
Key Takeaways of Collapsible Crates Market
- North America accounts for nearly one third share in the collapsible crates market, and the demand in the region is expected to soar during the forecast period.
- While collapsible crates with capacity of less than 50 L have shown high volume share in the market, lower prices have led to moderate value share in the market.
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- Solid wall collapsible crates account for majority share in the market, and are expected to grow 1.7x by 2030 over 2020.
- Collapsible crates with lid account for more than 70% share in the market, and are expected to gain traction during the forecast period.
- While industrial usage accounts for majority share in the market, residential usage is expected to show significant growth and gain share in the collapsible crates market
- High industrial usage has led to significant share of direct sales in the collapsible crates market.
“Collapsible crates market is expected to be on the rebound after the COVID-19 impact, and show substantial growth in the recovery period. Investments in HDPE crates are expected to be highly lucrative for collapsible crates’ manufacturers”, says the Fact.MR analyst
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New Product Launches rejuvenating the Product Lifecycle for Collapsible Crates
Low penetration and usage of collapsible crates is the primary hurdle for market in the present scenario. Manufacturers have been trying to increase awareness surrounding collapsible crates through multiple marketing campaigns. Companies like Orbis Corporation have been investing in marketing campaigns to increase their reach. Companies like Bekuplast and CABKA Group GmbH have launched new products and showcased them at events like FachPack. The efforts of collapsible crates manufacturers are expected to rejuvenate the lifecycle of the collapsible crates as well as increase their penetration in the packaging and retail markets.
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