Returnable Packaging Market, Size, Growth, Key Vendors, Trends, Analysis, Segmentation, Forecast To 2030
Market Overview
The global returnable packaging market size was valued
at USD 98570 million in 2030 and is expected to expand at a compound annual
growth rate CAGR of 6.2% from 2022-2030.
The rise in the
demand for returnable packaging in the automotive industry as the need for bulk
transportation at effective cost is increasing, the Global
Returnable Packaging Market 2020 is expected to rise exponentially.
Market Research Future (MRFR), along with its latest report on the Global
Returnable Packaging Market, also provides a detailed analysis of COVID-19
pandemic on the market. The rise in the application of returnable packaging in
the food & beverages can support the expansion of the market. It is due to
increase in the need for storage and transportation in bulk food products and
different beverages that can drive the expansion of the world market. The
increasing demand for returnable packaging across different industries, such as
consumer goods, automotive, and food & beverages can promote the expansion
of the world market. The expansion of the urban population can also prompt the
growth of the Global Returnable Packaging Market in the years to come.
One of the key
drivers of the returnable packaging market is the growing emphasis on
sustainable packaging solutions, as governments and consumers increasingly seek
to reduce the impact of waste on the environment. Returnable packaging offers
several advantages in this regard, as it reduces the need for single-use
packaging and minimizes the amount of waste generated.
Another key
driver of the market is the cost-effectiveness of returnable packaging. While
initial investments in returnable packaging may be higher than disposable
packaging, the long-term cost savings are significant as companies can reuse
the packaging materials multiple times, reducing the need for frequent
replacements.
The use of
returnable packaging is particularly common in industries such as automotive,
food and beverage, and pharmaceuticals, where the transportation of goods
requires durable and reliable packaging solutions. The increasing adoption of
automation and advanced tracking technologies is also driving the growth of the
market, as companies seek to optimize their supply chains and reduce costs.
Overall, the
global returnable packaging market is expected to continue its growth
trajectory in the coming years, driven by the increasing demand for sustainable
and cost-effective packaging solutions in a wide range of industries.
Segment Study
The product
type-based segments of the Global returnable
packaging solutions Market are intermediate bulk containers (IBC),
pallets, dunnage, crates, bottles, drums 7 barrels, and others. The IBC segment
can dominate the market. The segment is expected to rise at the highest CAGR in
the review period. The growing demand from returnable packaging across multiple
end-users, such as the booming petroleum & lubricants and food &
beverages can drive the expansion of market in the years to come. The pallets
segment can wind in high money for the assessment period.
The end-use
based segments of the Global Returnable Packaging Market are consumer goods, automotive,
pharmaceuticals & healthcare, and food & beverages among others. The Automotive
end-use segment can rise at the highest CAGR in the forecast period. The rise
in returnable containers automotive utility and increase in transport facilities
can boost the market. The presence of numerous automotive components suppliers
and growing competition among automobile producers can boost the expansion of
the market.
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Regional Study
The increase in demand
for returnable packaging in the Asia Pacific region cab rise at the highest
pace. The rapid increase in Global Returnable Packaging Market in consumer
goods sector can impel the expansion of the regional market across the
assessment period. The rapid expansion of industries powerful sectors, such as India
and China can support the expansion of the market across the review period. The
lower production cost of returnable packaging in APAC can promote the expansion
of the regional market in the years to come. The pressing demand for returnable
packaging products and expansion of population can bolster the expansion of the
regional market. The increase in disposable income and growing demand for automotive
solutions can spur the expansion of the market in APAC in years to come.
Key Players
MRFR profiled
some prominent marketers of Returnable packaging. They are Myers Industries
(US), Nefab Group (Sweden), IPL Plastics (Ireland), Schutz GmbH & Co. KGaA
(Germany), Menasha Corporation (US), DS Smith (UK), Rehrig Pacific Company
(US), Schoeller Allibert (Netherlands), Brambles (Australia), and Vetropack
Holding (Switzerland) among others.
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To stay updated with the technology and work
process of the industry, MRFR often plans to conduct meet with the industry
experts and industrial visits for its research analyst members.
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