Collapsible rigid container sales close in on nearly 120 million in 2018, according to a recent research study. Volume sales of collapsible rigid containers will witness a modest 4% Y-o-Y growth in 2019 over 2018. Although nestable and stackable containers are highly popular in the returnable packaging containers landscape, collapsible rigid containers have gained immense palpability in recent years, as more compatible for product storage and shipping.
According to the report, 100% reusability of collapsible rigid containers, which has significantly complemented productivity in transport and logistics, will continue to propel the market growth. With their convenience in loading-unloading and maintenance operations, collapsible rigid containers continue to gain momentum as vital packaging solution to avoid storage issues, and reduce overhead expenses.
The report opines that bulk packaging applications across multiple end use industries will significantly boost growth of collapsible rigid containers market. Just-under 30% share of the total collapsible rigid containers sales is accounted by consumption in chemical industry, followed by food and beverages. Automotive, agriculture, and pharmaceuticals also remain among the significant end use consumers of collapsible rigid containers.
The report opines that foldable IBCs will witness healthy demand growth, attributed to their space and cost efficiency, convenient handling, and environmental suitability for bulk packaging of hazardous and non-hazardous fluids. As the demand for cost effective bulk packaging continues to rise, a higher Y-o-Y growth is projected for foldable IBCs in 2019.
Light weight, easy handling, and economic costs remain the key demand determining attributes of crates in collapsible rigid containers market. Crates continue to remain preferred collapsible rigid containers, with sales driven by their innate & unparalleled competency to other variants in terms of cost, handling, and lightweight. According to the study, crates currently account for over 80% of overall collapsible rigid container sales.
Key players in the collapsible rigid containers market are prioritizing new product launches in the collapsible rigid containers market. Cherry’s Industrial Equipment announced the expansion targeting the innovation of a new collapsible rigid containers variant, i.e. wire mesh collapsible rigid containers.
The report envisages the collapsible rigid containers market to register a CAGR of approximately 5% through 2027.
