The packaging market for crates and pallets is projected to grow at a CAGR of 7.45% from 2017 to 2032. Currently valued at US$ 2,245.4 million, the market is anticipated to reach US$ 3,216.7 million in value by 2032. Businesses have used a novel approach to adjusting to the evolving crates and pallet packing sectors.
With its focus on wood fibre products, such as recycled pallets, wood pellets, and filter soxxs, it has opened up a relatively untapped market for crates and pallet packaging companies. To avoid the competitive market of full tractor-trailer loads of pallets selling for a low price, manufacturers construct pallets in smaller quantities and to precise specifications. In this area of the pallet market, more assistance, a larger assortment of goods, and more emphasis on pallet design are required.
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Crates and Pallets Packaging Market: Key Players
Some of the key players identified in the absorbed glass mat battery global market are
- Shur-way Industries, Inc.
- Palcon LLC
- Coxco, inc.
- Larch Ltd.
- CHEP
- Bay wood products, Inc.
- Rowlinson Packaging Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
Crates And Pallets Packaging Market Overview
Packaging has become an integral part of most of the industries in the world. The demand for packaging has surged throughout the past decade. This demand has brought about a series of innovations to packaging that has improved the packaging design and functionality. The shift in the use of materials used for packaging has also witnessed a great shift. A move from rigid to flexible packaging has now become the norm in most of the industries.
However, when we are analyzing about shipping and transport of larger consignments, we will find that rigid packaging has still kept its hold. The most common example are crates and pallets. Crates and pallets holds around 90% share in bulk packaging material.
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Crates and Pallets Packaging Market: Drivers & Restraints
Global rise in disposable incomes and consumerism, food and beverages sector will witness a huge demand, which is the major driver for global crates and pallets market. As a result, we can expect a steady growth in the crates and pallets market throughout forecast period of 2017-2027.
Boom in e-commerce, increase in modern retail format are another factors, which is boosting the crates and pallets market. Increase in consumption of poultry products and subsequent rise in poultry business is fuelling the demand of crates and pallets market.
Crates and pallets are now not only restricted to packaging and handling of food items, various other industries such as gardening or nursery are also utilizing crates and pallets for plant and flower plantation. Such an use has given a new aesthetic approach towards use of crates and pallets which will further bring in new avenue where crates and palates market will eventually grow as well.
Crates and Pallets Packaging Market: Segmentation
The global crates and pallets market can be segmented as follows:
Crates and Pallets Packaging Market, by type
- Hollow Crates & Pallets
- Block Crates & Pallets
Crates and Pallets Packaging Market, by end user industry
- Food
- Pharmaceuticals
- Industrial
- Construction
- Others( consumer goods)
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