The global returnable packaging market is witnessing continually rising revenues. The market growth attributes to the cost-effectiveness, improved product safety, and reusability of these packaging solutions. Spurring rise in end-user industries, such as food & beverages, automotive, pharmaceuticals & healthcare, and consumer goods, contribute to the growth of the market.
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With the growing consumer base, economic environment, and increase in manufacturing activities globally, the market is forecasted to witness significant traction in the years to come. In this regard, Market Research Future (MRFR) asserts that the global returnable packaging market is expected to grow pervasively during the review period (2020-2027).
The growing automotive industry offers great opportunities for this market. Moreover, the rise in manufacturing activities creates substantial demand for the returnable packaging market. Furthermore, changing lifestyles provide vast impetus to the returnable packaging mark growth, augmenting the demand for ready-to-eat meals.
Returnable Packaging Market – Segments
The returnable packaging auomotive market is segmented into material, product type, end-use, and regions. The material segment is sub-segmented into plastic, metal, wood, and others. Among these, the plastic segment accounts for the largest market share due to the increasing preference for plastic returnable packaging for their extensive flexibility, reusability and cost-effectiveness.
The product type segment is sub-segmented into pallets, crates, intermediate bulk containers (IBC), dunnage, drums & barrels, bottles and others. Among these, the IBC container segment accounts for the largest market share due to the rise in demand from various end-use applications like food & beverages and petroleum & lubricants. The pallets segment is expected to contribute significantly during the forecast period, mainly due to increased demand for consumer goods.
The end-user segment is sub-segmented into automotive, food & beverages, pharmaceuticals & healthcare, and consumer goods. Among these, the automotive segment accounts for the largest market share due to the increased use of returnable containers by automotive manufacturers to transport different parts and components to suppliers and reduce cost.
The food & beverages segment is also expected to contribute significantly due to the increase in demand for storage and transportation of bulk food products and various beverages. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.
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Global Returnable Packaging Market – Regional Analysis
Europe dominates the global returnable packaging market, heading with the increased awareness about sustainable packaging and a strong industrial base in this region. Besides, the continually rising economy of this region and demand for packaged food & beverages drives the market growth. Also, increasing needs to reduce packaging waste and demands for bulk transportation are the major growth drivers for the returnable packaging market.
North America is another lucrative market for returnable packaging solutions. Rapidly expanding consumer markets and abundantly available natural resources are the major factors driving the market in this region. The increasing demand and focus on developing low-cost returnable packaging options are some of the key factors accelerating the market growth.
The Asia Pacific returnable packaging market is growing rapidly. Factors such as the rapidly growing end-user industries and rapid growth in industrialization and manufacturing activities boost the market size. China and India are dominating markets for returnable packaging solutions in the region. Furthermore, increasing demand from food & beverage and consumer goods push the market share.
Returnable Packaging Market – Competitive Analysis
The returnable packaging market appears to be highly competitive due to several large and small players. Well-established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a larger competitive share in this market and thus to maintain their market position.
They compete based upon pricing and product & service. They strive to offer a customized product portfolio designed to meet specific customer objectives and a broad range of services, from assembly to packing, with state-of-the-art service centers.
Major Players:
Players leading the global returnable packaging market include Schoeller Allibert (Netherlands), Brambles (Australia), Menasha Corporation (US), Myers Industries (US), DS Smith (UK), Nefab Group (Sweden), IPL Plastics (Ireland), Rehrig Pacific Company (US), Vetropack Holding (Switzerland), and Schutz GmbH & Co. KGaA (Germany), among others.
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Industry/ Innovation/ Related News
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.
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