The global collapsible sleeve containers market is set for significant expansion, with an anticipated valuation of USD 4,700 million by 2023. This market displays a robust trend, featuring a noteworthy CAGR of 4.36%, which is expected to endure until 2033.
These consistent growth forecasts indicate that the global collapsible sleeve containers market is poised to achieve an impressive valuation of millions of USD 7,200 by the year 2033.
Key Market Trends and Highlights
Attributes | Key Insights |
---|---|
Collapsible Sleeve Containers Market Estimated Size in 2023 | USD 4,700 million |
Projected Market Value in 2033 | USD 7,200 million |
Value-based CAGR from 2023 to 2033 | 4.36% |
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The scope for global collapsible sleeve container market insights rose at a 2.95% CAGR between 2018 and 2022. The collapsible sleeve containers market value is anticipated to develop at a moderate CAGR of 4.36% over the forecast period from 2023 to 2033.
Report Attributes | Details |
---|---|
Market Value in 2018 | USD 4,050 million |
Market Value in 2022 | USD 4,550 million |
CAGR from 2018 to 2022 | 2.95% |
Among the various box sizes available, the 48 x 40 x 30-inch box size segment emerged as the most lucrative, capturing nearly 2/5th of the market's value share. The segment's dominance was driven by consistent demand from the food and beverage industries, where collapsible sleeve containers found widespread utility.
North America played a significant role in the global collapsible sleeve containers market during this period, accounting for 24.2% of the market value share in 2022. The region's prominence can be attributed to the presence of top industry players specializing in collapsible sleeve containers.
Industries such as building and construction, textile, handicraft, and others within North America increasingly embraced Collapsible Sleeve Containers as their preferred rigid packaging solution.
Factors such as evolving consumer preferences, expanding end-user industries, and a greater emphasis on eco-friendly packaging solutions are projected to drive market expansion. Innovations in collapsible sleeve container technology, including improved pallet compatibility, automated strapping systems, and efficient conveyors, are expected to further enhance the market's attractiveness.
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The below table highlights how food & beverage is projected to lead the application market expanding at a market share of 57% through 2033. The table further continues with the details about how the block pallets are likely to spearhead sales based on pallet type and are anticipated to witness a market share of 43.28% through 2033.
Category | Market Share by 2033 |
---|---|
Food & Beverage | 57% |
Block Pallet | 43.28% |
The collapsible sleeve containers market has witnessed significant growth, with the food and beverage segment emerging as the dominant force, capturing the largest revenue share of 57% by 2033.
The substantial market share can be attributed to the ever-increasing demand for packaged foods, encompassing a wide range of products, including ready-to-eat meals, frozen meals, snack foods, and bakery items. The convenience and extended shelf life offered by packaging contribute to this surge in demand.
A rising need for packaging fresh and frozen food items such as meat, fruits, and vegetables can be seen further fueling the demand for collapsible sleeve containers in the food and beverage sector. As the consumption of retail and bulk beverages like coffee continues to grow, the use of collapsible sleeve containers in their storage and transportation becomes essential.
The films not only protect the products from external factors but also aid in efficient storage and transportation, reducing the risk of damage during transit. Such a trend is expected to have a positive impact on the overall growth of the collapsible sleeve containers industry.
The block pallet segment has firmly established its dominance in the pallet market, capturing the largest revenue share, which is expected to reach 43.28% by 2033.
The block pallet has emerged as a preferred choice in the transportation sector due to its cost-efficiency and practicality. Block pallets offer a more budget-friendly option compared to rackable and stackable pallets, making them particularly well-suited for export purposes and open-loop supply chains.
The affordability of block pallets positions them as an ideal choice for export applications. With the rising preference for plastic pallets over wooden pallets in export scenarios, driven by their non-contaminating properties, the demand for block pallets is set to surge in the coming years.
The shift towards block pallets aligns with the growing emphasis on maintaining product integrity and hygiene during international shipments, thus driving the adoption of this pallet type in the global market.
The below table showcases revenues in terms of the five countries, spearheaded by the United States, China, Japan, Germany, and India. Out of these 5 countries, India is leading followed by China.
United States | USD 1,500 million |
---|---|
India | USD 1,720 million |
Japan | USD 846 million |
China | USD 1,520.1 million |
Germany | USD 1,210 million |
United States | 17.8% |
---|---|
Japan | 10.2% |
Germany | 19% |
India | 23.2% |
China | 21% |
In India, the growing middle-class population and urbanization have led to a surge in demand for packaged foods. Favorable government policies aimed at facilitating foreign direct investments and bolstering domestic manufacturing have created a conducive environment for the food and beverage industry's expansion. India's collapsible sleeve container market is thus anticipated to witness robust growth.
China, on the other hand, has also seen a remarkable increase in the consumption of packaged food products. Political changes and regulatory support in China are focused on enhancing the country's manufacturing capabilities, which is expected to further stimulate the growth of the food and beverage sector. The collapsible sleeve containers market in China is poised for significant expansion.
The collapsible sleeve containers market in the United States is positively influenced by a robust manufacturing base, particularly in confectioneries and carbonated soft drinks.
The country's well-established food and beverage industry, along with its demand for flexible packaging solutions, is expected to contribute to the growth of the collapsible sleeve containers market during the forecast period.
The growing urbanization and increasing disposable incomes in countries like Germany have led to a significant uptick in the demand for packaged food products.
More people are thus migrating to urban areas like Germany and experiencing rising disposable incomes, as there has been a notable surge in the demand for packaged food products. The shift in consumer preferences toward convenience and ready-to-eat meals has propelled the need for efficient and reliable packaging solutions.
Businesses in Japan highly prioritize advanced packaging solutions, and contribute to the ongoing evolution of the packaging industry for meeting the changing demands of consumers. The shift towards innovation in packaging is thus expected to have a significant impact on enhancing the efficiency and sustainability of the packaging ecosystem within Japan.
Japan’s companies are recognizing the importance of sustainable packaging practices and are investing in solutions that reduce environmental impact including the development of eco-friendly materials, efficient recycling systems, and innovative packaging designs that minimize waste.
Japan hence continues to lead in technological advancements, majorly in the manufacturing and consumer goods sectors, where it is well-positioned to drive advancements in packaging technology that align with global sustainability goals.
Leading players operating in the global collapsible sleeve container market are aiming to expand their market presence in various countries and regions to improve sales via mergers, acquisitions, and collaborations. Some new developments are:
Attributes | Details |
---|---|
Estimated Market Size in 2023 | USD 4,700 million |
Projected Market Valuation in 2033 | USD 7,200 million |
CAGR Share from 2023 to 2033 | 4.36% |
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | Value in USD million |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
Key Market Segments Covered | Box Type, Pallet Type, End-user, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | DS Smith Plc.; Schoeller Allibert Services B.V.; Corn-Pearl North America Inc.; Rehrig Pacific Company, Inc.; TranPak, Inc.; RPP Containers; Sohner Plastics LLC, Shuert Technologies, LLC; CABKA Group, Buckhorn Inc.; Reusable Transport Packaging Inc.; Prairie Plastics Holdings LLC; Ribawood S.A.; Qingdao CNplast Co., Ltd.; Enlightening Pallet Industry Co., Ltd. |
The market valuation in 2023 for collapsible sleeve containers is likely to be USD 4,700 million.
India registered a market share of 23.2% in 2022.
The collapsible sleeve containers market is set to expand by a CAGR of 4.36% by 2033.
The collapsible sleeve containers market is forecasted to reach USD 7,200 million by 2033.
Food & beverage is preferred and is expected to rise at a market share of 57% through 2033.
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