Manufacturers advised: focus on growth segments
India’s plastic crate market is poised to grow by US$270.16 million during 2020-2024, progressing at a CAGR of about 8%, said Technavio in its latest report released on 1 Jun 2020.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period, said the report.
Aristoplast Products Pvt Ltd, Cajon Plast (India) Pvt Ltd, Croma Plast Pvt Ltd, Galaxy Polymers, K.M.S. Plastworld Pvt Ltd, Maha Technoplast Pvt Ltd, Nilkamal Ltd, Samruddhi Industries Ltd, Sintex Plastics Technology Ltd and The Supreme Industries Ltd are some of the major market participants.
The growth of different end-users will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. fiinews.com
