The returnable packaging market is set for a rapid growth over the forecast period. In terms of revenue, the global returnable packaging market accounted for USD 43.5 Billion in 2019 and is expected to reach USD 62.1 Billion by 2026, growing at a CAGR of 5.3% from 2020 to 2026.
The returnable packaging market is set for a rapid growth over the forecast period. In terms of revenue, the global returnable packaging market accounted for USD 43.5 Billion in 2019 and is expected to reach USD 62.1 Billion by 2026, growing at a CAGR of 5.3% from 2020 to 2026.
Global Returnable Packaging Market: Overview
Reusable or Returnable packaging products is made from durable materials that include plastic, metal, and wood. These packaging are precisely designed for numerous trips and prolonged life, so that it can withstand rough handling during the process of a supply chain.
Global Returnable Packaging Market: Growth Factors
The reusable packaging market is going through a surge in demand due to the significant rise in the demand for sustainable and heavy-duty packaging products from numerous end-users. Additionally, the multiple benefits related to the reusable packaging solutions are influencing the market for returnable packaging material. The rise in disposable incomes, increasing urbanization, together with high optimization, in regards to pack size are the expected to propel the growth of the reusable packaging market globally during the anticipated timeline.
Additionally, the rising investments and expenditures in R&D along with innovation in product is anticipated to draw many companies towards reusable packaging products associated to transport owing to their economic benefits along with sturdiness and sustainability. This will influence the reusable packaging market trend.
However, the rising concern among small suppliers about the cost to profit ratio is anticipated to hinder market expansion for returnable packaging. Additionally, the undertaking of numerous agreements, policies and regulations encouraging the use of reusable packaging products has implemented by numerous government authorities of multiple nations. This is expected to provide abundant opportunities for growth of reusable packaging market in the forecast timeframe.
Global Returnable Packaging Market: Segmentation
The global returnable packaging market can be segmented into the Material, Product, end-use, and region. By material, the market can be segmented into metal, foam, glass, plastic, and others. The plastic segment under material is anticipated to have a noteworthy growth over the coming years. This is attributable to the numerous advantages offered by plastic reusable packaging provides, which includes resistance towards water, temperature, and chemicals. Additionally, plastic can be mold any shape desired shape & size and is light in weight.
The wood segment under materials is anticipated to hold significant share. Wood packaging has outstanding characteristics which include resistance, durability and versatility. These characteristics make wood an excellent material for decoration, construction and packaging, applications. By Product, the market can be segmented into Crates, Pallets, Drums & Barrels, IBCs, Dunnage and Others. By end-use, is segmented into the automotive, healthcare, food & beverage, consumer durables, and others.
Global Returnable Packaging Market: Regional Analysis
On the basis of region the market for returnable packaging is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Asia Pacific region is expected to have a significant growth in the forecast timeframe. This is attributable to the rising need of reusable packaging from countries having large populations including India and China, as this type of packaging provides safety to packaged goods, cost-effective feature, and partial sustainability. Additionally, the rising reusable packaging applications in automotive, food & beverage, aerospace, construction, consumer durables and healthcare, industries are anticipated to boost reusable packaging market share in Asia Pacific region.
Global Returnable Packaging Market: Competitive Players
Some of key players in returnable packaging market are Nefab Group, Vetropack Holding, Schoeller Allibert, DS Smith, Myers Industries, IPL Plastics, Tri-Pack Plastics Ltd., CHEP, Integra Packaging, Returnable Packaging Resource, Inc., Brambles, and Menasha Corporation, among others.
Global Returnable Packaging Market: Regional Segment Analysis
Asia Pacific region is expected to have a significant growth in the forecast timeframe. This is attributable to the rising need of reusable packaging in developing economies such as India and China.
some of the major companies operating in the returnable packaging market are are Nefab Group, Vetropack Holding, Schoeller Allibert, DS Smith, Myers Industries, IPL Plastics, Tri-Pack Plastics Ltd., CHEP, Integra Packaging, Returnable Packaging Resource, Inc., Brambles, and Menasha Corporation among others.
Corporate Office
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651
Asia Pacific Office
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No 020-46277770
Contact #
US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.