The global crates and pallets packaging market is segmented by material into wood, plastic, metals, paper and others; by package type into hollow crates & pallets, block crates & pallets; by end-user industries into food & beverages, cosmetics, pharmaceuticals, industrial, consumer goods and construction and by regions. Crates and Pallets Packaging Market is anticipated to mask a CAGR of 5.6% during the forecast period i.e. 2018-2027.
Crates and pallets can be made from wood, metals, plastics or papers as per the requirement. Crates and pallets are designed in such a way that they can hold heavy quantities for longer periods and are reusable as well. In a pallet, goods requiring shipping are often strapped using shrink wraps or stretch wraps to keep the goods in position. The introduction of crates and pallets Packaging have taken oven barrel packaging to meet modern packaging needs which include, intermodal containers, corrugated boxes and more for bulk shipping. The use of crates and pallets packaging are required in various end user industries starting from milk packaging, soft drinks, food, medicines to cosmetics, construction, industrial items packaging for transport or storage.
As a developed region with flourishing industrial processes and product logistics requirements, North America is panned to observe substantial crates and pallets packaging market growth due to rising crates and pallets packaging usage for products exportation. North America is estimated to be followed by Asia Pacific in terms of consumption due to expanding crates and pallets packaging requirements in pharmaceutical and cosmetic industries. Europe is expected to drive demand and positively impact crates and pallets packaging market growth over the forecast period owing to decent demand for crates and pallets packaging in industrial goods packaging.
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Growing Applications in Consumer Goods and Food Industry
Currently the global crates and pallets packaging market is observing vibrant growth owing to increasing demand of versatile product transporting and packaging solutions in the market. Advances in consumer goods and food import and export industry in the past few years and growing technological explorations are projected to drive crates and pallets packaging market besides the wide range of application of crates and pallets packaging in an immense range of products such as fruits, vegetables, meat, glassware, utensils, antiques, and more during the forecast period.
Increasing Trend of Kitchen Gardens
Growing urbanization with rise in disposable income is increasing the trend of kitchen gardens. On account of increasing trend of use of crates and pallets in kitchen gardens and nurseries for planting flowers and herbs, is expected to drive the market sturdily during the forecast period.
However, fire hazards associated with wood, plastic or recyclable crates along with food safety risks associated with use of wooden pallets is anticipated to impact these segments of the market by lowering the growth rate over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Crates and Pallets Packaging market which includes company profiling of FCA Packaging, Shur-way Industries, Inc., Palcon LLC, Coxco, inc., Larch Ltd., CHEP, Bay wood products, Inc., Rowlinson Packaging Ltd., Dick McCormick and Star Packaging LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Crates and Pallets Packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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