Packaging

Global Returnable Packaging Market

December 24, 2021
ID: SR/PG-04
Format:Pdf
Pages:220

Global Returnable Packaging Market, By Material (Plastic, Wood, Metal, Glass, and Foam), By Product (Crates, Pallets, Intermediate Bulk Containers (IBCs), Drums & Barrels, Bottles, and Dunnage), By End-User Industry (Food & Beverages, Automotive, Healthcare, Consumer Durables, and Others), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.

Description

The global returnable packaging market was valued at USD 98.42 billion in 2020 and is expected to reach USD 154.83 billion with a CAGR of 6.2% during the forecast period, 2021-2027. the increasing use of plastic returnable packaging, rising intermediate bulk containers returnable packaging for material loading and unloading by chemical, pharmaceuticals and food ingredients industries are the major features restoring the growth of the global returnable packaging market. Furthermore, the growing industrialization, rising disposable income, and urbanization, together with high optimization in pack size, are projected to grow the growth of the returnable packaging market across the globe.

What is Returnable packaging?

Returnable packages include large reusable containers, racks, hand containers, pallets, and dunnage. Proficiently and safely transport products throughout the supply chain. Returnable packages are typically used by manufacturers and their supplier’s inefficient supply chains with very strongly controlled shipping loops. It is primarily used by manufacturers and their suppliers in a well-ordered supply chain. It is available in various materials suitable for various transport and handling requirements. Advantages of larger pack size and ability to use the larger size to transport a higher amount of product and contents, fully using the space provided. Reusable packages are made of durable materials such as plastic, metal, and wood and are designed to resist the rough handling of common logistics systems.

Growth Driver

Growing demand sustainable packaging product

The returnable packaging is going through a huge demand owing to a substantial increase in the demand for heavy-duty and sustainable products from the automotive, food and beverage, healthcare, chemical industries. Moreover, the various advantages of returnable packaging solutions promote the market from returnable packaging material. Growing industrialization, rising disposable income, and urbanization, together with high optimization in pack size, are likely to boost the growth of the returnable packaging market across the globe.

Opportunities

Developing economies and rising expenditure in research and development

The industry increases investment and expenditures in research and development to manufacturing products and improved performance packaging solutions. Developing economies, likely India, and China provide substantial opportunities for the logistics of industrial packaged bulk products. These countries also have many raw materials available for the returnable packaging market. Economic development in India and China has incentivized various manufacturing sectors, including food & beverage, chemical & materials, automotive, and healthcare. The increasing manufacturing sectors within emerging economies, coupled with the essential for cost-efficient & sustainable packaging solutions, will likely create significant opportunities for the returnable packaging market.

Restraints

Storage space requirement and high transportation cost

When a reusable package comes back, the question arises where to store it. Storage of an empty reusable package usually requires more space than a one-time package option due to its design and strength. The rented package must be returned, and this return trip is not free. Therefore, these costs are added to the transportation and transportation budget. With returnable packaging, depending on the customer to send back packaging product once the product has been received becomes dependent, and if the customer does not follow through, the expenditure of those unreturned materials comes around on the retailer.

Pre-Covid-19 impact on the global Returnable Packaging market

In pre covid 19 era, one of the main reasons for boosting the returnable packaging market’s growth was the growing demands from consumer goods, food & beverage, automotive and pharmaceuticals industries. Due to their durability and robust performance, reusable packaging is preferred in various end-use applications, resulting in increased demand for reusable packaging systems. Furthermore, growing urbanization, increasing disposable income, and growing awareness for sustainable growth increase the demand for returnable packaging.

Covid-19 impact on the global Returnable Packaging market

The COVID-19 pandemic has significantly impacted all returnable packaging industries, including logistics and supply chains, manufacturing, oil and gas, and electronics. Partial or complete lockdown in many countries, such as India, the United Kingdom, the United States, and Germany, further impaired the supply of raw materials and finished products worldwide. Due to the stagnation of the manufacturing industry, the demand for products during the COVID-19 period decreased due to the suspension of demand for raw materials and finished products during the COVID-19 period. Therefore, the global market for returnable metal packages is heavily influenced by COVID-19.

Post Covid-19 impact on the global Returnable Packaging market

The COVID19 disease has spread worldwide, causing significant loss to life and the economy. The global industrial, financial and tourism markets have been hit hard. As the online market expands, Fortunately, vaccine development and other efforts by governments and organizations worldwide are expected to reduce the negative effects of COVID19 and restore the global economy. Growth in investment for R&D activities and advanced product offerings is predictable to attract new customers, likely to generate new opportunities for players over the forecast period. Moreover, the inclination towards emerging economies to raise the business presence and growth the profits share is projected to support the market.

Material Segmental Analysis

The global Returnable Packaging market is segmented into plastic, wood, metal, glass, and foam based on the Material. The plastic segment captured the largest market share in 2020 and is expected to rise critically during the forecast period, 2021-2027, due to the versatility, cost-effectiveness, and easy availability of plastic packaging. It is used in food & beverage, automotive, and consumer applications. Plastic packaging contains various synthetic and semi-synthetic materials that can be molded into different shapes and sizes.

Product Segmental Analysis

The global Returnable Packaging market is categorized into Crates, Pallets, Intermediate Bulk Containers (IBCs), Drums & Barrels, Bottles, and Dunnage based on the product. The Intermediate Bulk Containers (IBCs) segment holds the largest market share in 2020 and is expected to grow significantly during the forecast period, 2021-2027. The segment’s growth is due to the growing use of intermediate bulk containers (IBCs) returnable packaging for material loading and unloading by chemical, pharmaceuticals and food ingredients industries and built-in pallets for cost-efficient handling.

End-User Industry Segmental Analysis

The global returnable packaging market is categorized into food & beverages, automotive, healthcare, consumer durables, and others based on the end-user industry. The automotive segment accounted for the largest market in 2020 is likely to generate a sizeable revenue during the forecast period, 2021-2027. Automotive manufacturers generally use returnable containers to transport a variety of automotive parts to suppliers of parts. These components are shipped to the assembly plant for assembly. Plastics and steel are used in returnable packages in the automotive industry due to their long life and tamper resistance. The pressure to reduce costs continues to raise the demand for returnable packaging in the automotive industry.

Region Segmental Analysis

The global Returnable Packaging market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America has the largest market share in 2020 and is estimated to grow significantly during the forecast period, 2021-2027. This growth concerns the growing need for returnable packaging from countries with large populations such as China and India, as returnable packaging offers cost-effective, sustainable and safe packaged goods. Moreover, the growing returnable packaging end-user industries in food & beverages, automotive, healthcare, and consumer durables industries are estimated to grow the returnable packaging market in Asia- Pacific Region.

Competitor Analysis

Companies include Nefab Group, Tri-Pack Plastics Ltd., Amatech INC., CHEP, DS Smith, Rehrig PACIFIC COMPANY, Brambles, Myers Industries, Menasha Corporation, Schoeller Allibert, RPR Inc., IPL Plastics, Celina Industries are the key players in the global returnable packaging market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global returnable packaging manufacturing firm
Global returnable packaging providers
Local Governments
Regulatory bodies
Suppliers
Retailers

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 98.42 Billion
The revenue forecast in 2027	USD 154.83 Billion
Growth Rate	CAGR of 6.2% from 2020 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Nefab Group, Tri-Pack Plastics Ltd., Amatech Inc., CHEP, DS Smith, Rehrig PACIFIC COMPANY, Brambles, Myers Industries, Menasha Corporation, Schoeller Allibert, RPR Inc., IPL Plastics, Celina Industries

Market Modelling

By Material

Plastic
Wood
Metal
Glass
Foam

By Product

By End-User Industry

Food & Beverages
Automotive
Healthcare
Consumer Durables
Others

By Region

North America
Europe
Asia Pacific
South America

Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is Returnable Packaging?

Returnable packages include large reusable containers, racks, hand containers, pallets, and dunnage. Proficiently and safely transport products throughout the supply chain.

What is the growth rate of the Returnable Packaging market?

The global returnable packaging market is likely to grow with a CAGR of 6.2%, in value terms, over the forecast period 2020-2027 and is expected to reach USD 154.83 Billion by 2027.

What are the driving factors for the global Returnable Packaging market?

An increase in the demand for heavy-duty and sustainable products from the automotive, food and beverage, healthcare, chemical industries are the major factors restoring the growth of the global Returnable Packaging market.

What are the impacts of the COVID-19 pandemic on the global Returnable Packaging market?

Due to the stagnation of the manufacturing industry, the demand for products during the COVID-19 period decreased due to the suspension of demand for raw materials and finished products during the COVID-19 period. Therefore, the global market for returnable metal packages is heavily influenced by COVID-19.

Which region is expected to have the largest share in global Biometric Systems?

Asia-Pacific captured the largest market share in 2020 and is estimated to grow significantly during the forecast period, 2021-2027.

Who are the major players in the global Biometric Systems?

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Global Returnable Packaging Market

What is Returnable packaging?

Growth Driver

Growing demand sustainable packaging product

Opportunities

Developing economies and rising expenditure in research and development

Restraints

Storage space requirement and high transportation cost

Pre-Covid-19 impact on the global Returnable Packaging market

Covid-19 impact on the global Returnable Packaging market

Post Covid-19 impact on the global Returnable Packaging market

Material Segmental Analysis

Product Segmental Analysis

End-User Industry Segmental Analysis

Region Segmental Analysis

Competitor Analysis

Scope of the Report

Market Modelling

Report Content

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