NEW YORK, Nov. 26, 2023 /PRNewswire/ — The plastic crates market in India is expected to grow by USD 336.79 million between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 8.09% during the forecast period. The market is segmented by end-users (food and beverages, industrial, retail, pharmaceutical, and others) and materials (PE, PP, PVC, and others). The growth of different end-user industries is a key factor driving market growth. The Indian government is increasing foreign trade and taking several initiatives. Domestic companies have led to extensive industrialization and promoted the development of various industries, including food and beverages, pharmaceuticals, and retail, to promote regional cooperation. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions of the market’s growth. View a PDF Sample
Technavio has announced its latest market research report titled Plastic Crates Market in India 2023-2027
Key Highlights:
The report recognizes the following as some of the key players in the plastic crates market in India: Aristoplast Products Pvt. Ltd., Bright Brothers Ltd., Brix Industries, Croma Plast Pvt. Ltd., Esquire Multiplast Pvt. Ltd., K.M.S. Plastworld Pvt. Ltd., MPH Group, National Plastics, Nilkamal Ltd., R.R. Enterprises, Rita International, Samruddhi Industries Ltd., Signet Industries Ltd., Sri Kamakshi Enterprises. , Sunshine Plastics, Swift Technoplast Pvt. Ltd., The Supreme Industries Ltd., VIP Plastics, Vishakha Mouldings P. Ltd., and White Plaast
Plastic Crates Market in India is fragmented in nature.
Market to observe 6.99% YOY growth in 2023.
Market Dynamics:
Market Trend
The increasing focus on recycling and management of plastic waste is a major trend in the market.
To address the problem of pollution in an effective way, plastic collection and recycling have become increasingly relevant as set out in National Guidelines.
Moreover, due to consumer awareness and government support, it is anticipated that there will be an increased recycling of plastics as well as a higher proportion of Plastic waste management.
Hence, these factors are expected to drive market growth during the forecast period.
Significant Challenge
The growing price pressure on companies is a significant challenge restricting market growth.
In India, producers of plastic crates are challenged by increased volatility in prices and persistent price increases for raw materials.
Moreover, since the manufacturing costs have risen, it has become less attractive for plastic crate makers to compete because of rising material input price volatility.
Hence, these factors are expected to restrict market growth during the forecast period.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
The food and beverages segment is estimated to witness significant growth during the forecast period. Food processing represents approximately 9% of India’s production sector and has experienced growth over the last years at a rate that is higher than normal. This sector has a very fragmented character, with almost 40 % of its processing taking place in the unorganized sector. Furthermore, automated stacking machinery high-pressure washing, sterilization, and temperature changes from the warehouse to refrigeration can be handled by plastic crates.
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Plastic Crates Market Scope in India |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2023-2027 |
USD 336.79 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.99 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Material
Market Segmentation by End-users
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio