Returnable Packaging Industry Overview
The global returnable packaging market size was valued at USD 98.55 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.
Increasing demand for sustainable and durable packaging products from various end-use industries is expected to fuel the growth of the market. Returnable or reusable packaging products are made of durable materials, such as wood, plastic, and metal. They are designed to withstand rough handling throughout the supply chain and are intended for multiple trips. The initial investment for such products is considerably high as compared to expendable packaging, however, with increasing trips, lower cost per trip can be achieved, which ensures a rapid return on investment.
Gather more insights about the market drivers, restrains and growth of the Global Returnable Packaging Market
The U.S. market is expected to witness significant growth over the forecast period on account of the increasing product demand from various end-use industries. Key food and beverages, pharmaceuticals, and automotive companies operating in the U.S. are increasingly incorporating sustainable business practices, which, in turn, is expected to augment the market growth.
Key companies are mainly attracted to returnable packaging products due to their sustainability and economic and ergonomic benefits. Economic benefits mainly include low cost per trip in the longer term and reduction in cost associated with the purchase and disposal of expendable packaging.
Returnable packaging eliminates packaging waste going into landfills and thus is highly sustainable. Increasing adoption of sustainable packaging solutions by end-users to improve their brand reputation, coupled with rising regulatory pressure regarding the use of plastic packaging, is expected to fuel the market growth.
However, higher transportation cost is observed in the case of RTP products due to their return trip. Moreover, these products occupy significant storage space and require periodic maintenance. In addition, theft or misplacement of products is observed, further requiring the incorporation of tracking devices resulting in increased material handling costs. This may have a negative impact on product demand.
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Returnable Packaging Market Segmentation
Grand View Research has segmented the global returnable packaging market on the basis of material, product, end use, and region:
Returnable Packaging Material Outlook (Revenue, USD Million, 2017 - 2028)
Returnable Packaging Product Outlook (Revenue, USD Million, 2017 - 2028)
- Drums Barrels
Returnable Packaging End-use Outlook (Revenue, USD Million, 2017 - 2028)
- Food Beverages
- Consumer Durables
Returnable Packaging Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
Market Share Insights
- 16, 2021 -- Herman Miller, a leading global office home furniture and equipment manufacturer, announced its collaboration with NextWave Plastics to establish ocean-bound plastics as a commodity, reducing the volume of plastic waste. These companies would turn ocean-bound plastic into returnable shipping crates.
- May 11, 2021: Schoeller Allibert, a recyclable, reusable and returnable transit packaging (RTP) solutions specialist in Europe, announced that it would be showcasing its latest innovations at IntraLogisteX 2021 in July.
Key Companies profiled:
Some prominent players in the global returnable packaging market include
- Orbis Corporation
- Nefab Group
- Plastic Packaging Solutions Midlands East Ltd.
- Tri-Pack Plastics Ltd.
- Amatech Inc.
- Celina Industries
- UBEECO Packaging Solutions
- RPR Inc.
- Schoeller Allibert
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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