The global returnable packaging market size is projected to account for USD 46.5 billion by 2027, as per a new report by Million Insights. The market is estimated to grow at 5.4% CAGR over the forecast duration. Growing demand for durable, sustainable and sturdy packaging solutions to transport semi-finished and finished goods is attributing to the growth of the market. Further, the rise in international trade has positively affected the growth of reusable packaging.
Returnable transport packaging (RTP) includes durable and robust products like crates, drums & barrels, dunnage, pallets and IBCs. Unlike expendable packaging, reusable packaging is sustainable and doesn’t generate packaging waste.
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Owing to the increasing awareness about environment safety, end-use industries are increasingly adopting for sustainable packaging. Government regulation about packaging waste is the other key factor leading to the rise in the adoption of sustainable packaging solutions.
Plastic-based returnable packaging dominated the market with over 63.0% share in 2019. Further, this segment is anticipated to continue its dominance over the forecast duration owing to its durability, resistance to rough handling and solvent resistance properties. However, the metal segment is projected to witness the highest growth owing to its higher sustainability feature.
Owing to the rapid industrialization in emerging countries, there has been increased in international trade, which is anticipated to propel the returnable packagingmarket growth over the forecast duration. In addition, expansion in the e-commerce and pharmaceuticals industries is projected to provide lucrative opportunity for the market players over the next few years.
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Further key findings from the report suggest:
• In 2019, plastic material accounted for the highest share in the market with more than 63.0%.
• The healthcare division is anticipated to register the maximum growth over the forecast duration owing to the rapidly expanding pharmaceuticals industry.
• Asia Pacific accounted for more than 36.0% share in the market in 2019.
• Major companies operating in the market are Amatech, Inc., Integra Packaging, Nefab Group, ORBIS Corp and CHEP among others.
Million Insights has segmented the global returnable packaging market on the basis of material, product, end-use and region:
Returnable Packaging Material Outlook (Revenue, USD Million, 2016 – 2027)
Returnable Packaging Product Outlook (Revenue, USD Million, 2016 – 2027)
• Drums & Barrels
Returnable Packaging End-use Outlook (Revenue, USD Million, 2016 – 2027)
• Food & Beverages
• Consumer Durables
Returnable Packaging Regional Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
• South Africa
List of Key Players of Returnable Packaging Market
• Returnable Packaging Resource, Inc.
• Nefab Group
• Plastic Packaging Solutions Midlands & East Ltd.
• Tri-Pack Plastics Ltd.
• Amatech, Inc.
• Celina Industries
• Integra Packaging
• ORBIS Corp.
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