The global sales of cardboard crates are estimated to be worth USD 1.6 billion in 2021 and are anticipated to reach a value of USD 2.5 billion by 2031. Sales are projected to rise at a CAGR of 5.0% over the forecast period between 2021 and 2031. The revenue generated by cardboard crates in 2020 was USD 1.5 billion.
The cardboard crate market is literally pushed by the high demand for sustainable and environmentally friendly packaging solutions, especially for e-commerce and retail purposes. While businesses aim at reducing their carbon footprint, the shift toward recyclable and biodegradable materials is making cardboard the material of increasing interest and speed.
Besides that, further propellers of market growth are trends in lightweight packaging, cost-efficient packages, and customer preference for ecologically friendly products. Design innovations and strength enhancements also continue to play important roles in the application of cardboard crates across most industries.
Global Cardboard Crates Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.5 billion |
| Estimated Size, 2021 | USD 1.6 billion |
| Projected Size, 2031 | USD 2.5 billion |
| Value-based CAGR (2021 to 2031) | 5.0% |
The upsurge in relocation of people due to various conditions such as changing preference in the jobs, climatic and economic condition around the world. The booming paper industry around the world is a positive indicator for the worldwide market, with demand projected to increase over the next decade. Further increases in investment in the pharmaceutical and biomedical industries are expected to augment the market's growth curve.
The cardboard crates market is driven by the growing technological enhancement in the paper products industry. The growing technical advancement such as the attachment of durable plastic wraps around them is increasing the cardboard crates demand in recent years.
Packaging of products with cardboard is talk of the town as it protects nature from the non-biodegradable waste which is plastic. The potential idiosyncratic of crates that provide an opportunity for the market growth is increasing awareness and preventive measures by the government for a reduction in global warming. The alarming cases of animal and human health has resulted in the replacement of old packing techniques.
On the other hand, the restraint for the market is the usability of the crates is limited as compared to the other packaging material. The potential for being discovered across a wide range of industries, including biological, pharmaceutical, chemical, food, and beverage industries, is driving up demand on a global scale.
Expected development in end-use sectors would certainly accelerate demand, leading to rapid penetration. On the back of the aforementioned factors, the market is predicted to open up massive potential opportunities.
In the latest report by FMI the prominent region included in North America, Latin America, Europe, East Asia, South Asia & Oceania and MEA.
The Asia Pacific has the largest and fastest-growing region in the packaging market. The region is poised to hold a market share of more than 50% over the forecast year. China holds a major chunk of Asia Pacific market revenue share followed by India and Japan due to high demand for sustainable packaging, rising environmental awareness among the urban population and growing e-commerce.
China, Japan and India are holding approximately two-third of the Asia Pacific market share. Europe is following the footsteps of Asia Pacific due to the high demand for fresh food and beverages, logistics, personal and home appliances and electronic goods. In Europe, Germany is the world’s largest exporter of paper and cardboard.
North America is anticipated to grow in the impending years as according to the American Chemistry Council, the higher demand in the paper products market is predicted from the large amount capacity being sold in the export market. USA is holding a stable position in North America in comparison with Canada owing to the reason the USA has the largest paper company in the world. In 2020, International Paper reported revenue of more than USD 20 Billion.
While the Middle East and Africa, as well as Latin America, are expected to develop at a modest rate and account for a small part of the worldwide market share of cardboard crates market throughout the projection period.
USA and China are the prominent countries in the demand and supply of cardboard crates. As half of the volume generated in USA municipalities for solid waste comes from paper and paperboards.
The largest paper consuming countries are China which has consumed approximately 100 million metric tons of paper in the year 2018. This was followed USA and Japan consuming 70.6 million tons and 25.5 million tons respectively in the same year.
The prominent player manufacturing cardboard crates
The market is crowded, with many players. Players are aggressively targeting a large part of the market, frequently employing both organic and inorganic expansion techniques. The key aims were alliances, acquisitions, and steadily building their global internet sales and distribution network.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Cardboard Crates Market
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