Returnable Packaging Market Is Expected To Grow Due To Increasing Demand For Sustainable And Durable Packaging Products

 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.

 

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

  • Plastic Pallets Market - The global plastic pallets market size was valued at USD 6.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2028. Growing demand for hygienic, contamination-free, and durable pallets by the food and beverage, pharmaceutical, and chemical industries is expected to drive the market.
  • Lubricants Market - The global lubricants market size was valued at USD 125.81 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028. The industry dynamics are changing, in terms of raw material, owing to the rising demand for bio-based lubricants. The growing trade of vehicles and their spare parts is anticipated to fuel the demand for automotive oils and greases.

 

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)

  • Plastic
  • Metal
  • Wood

Returnable Packaging Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Pallets
  • Crates
  • IBCs
  • Drums & Barrels
  • Dunnage
  • Others

Returnable Packaging End-use Outlook (Revenue, USD Million, 2017 - 2028)

  • Food & Beverages
  • Automotive
  • Consumer Durables
  • Healthcare
  • Others

Returnable Packaging Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa (MEA)

 

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.
  • CHEP
  • Celina Industries
  • UBEECO Packaging Solutions
  • RPR Inc.
  • Schoeller Allibert

 

Order a free sample PDF of the Returnable Packaging Market Intelligence Study, published by Grand View Research.

 

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