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Returnable Packaging Market - Global opportunity analysis and industry forecast, 2020-2027
| A08712 | Pages: NA | Jun 2021 | 186 Views | | |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Returnable Packaging Market
Request Now !Returnable packaging is that type of packaging system which can be used repeatedly for packaging of the product. It is also known as reusable packaging because it can be used multiple times without affecting the quality of packaging. It is made up of materials such as metal, plastic, and wood. The safety of the product inside the packaging is ensured because the material used for returnable packages are sturdy in nature. Applications in various industries could be the advantage for returnable packaging.
Market scope and structure
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Product type, Material type, End user industry and Region |
Companies covered | Returnable Packaging Resource Inc., Nefab Group, Tri-Pack Plastics Ltd, Plastic Packaging Solutions Midlands & East Ltd., Amatech Inc., CHEP, Integra Packaging, Celina Industries, Lamar Packaging Systems, ORBIS Corporation |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy and rest of Europe), Asia-Pacific (China, India, Japan, South Korea and rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa) |
COVID-19 scenario analysis:
- The demand for returnable packaging is expected to decrease in 2020 due to low demand from different industries such as manufacturing, food industry due to the lockdown imposed by government of many countries.
- COVID-19 crisis is likely to affect the returnable packaging industry negatively, as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally.
- COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
- The requirement of eCommerce specific packaging is likely to remain strong, although the ecommerce companies would have to focus on protection of goods and sanitization of packages.
- In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products such as groceries and fresh food mainly from local e-retail sites.
- Industrial, transportation, and bulk packaging has faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020.
- Owing to the lowered disposable income of maximum population and weak demand for packaging from industrial goods, the packaging industry might face significant pressure of reduction in both wholesale as well as retail costs.
- Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services, which is expected to hinder the packaging industry growth in the future after the COVID-19 crisis.
Key driving factors for the growth of returnable packaging market:
Fast moving and consumer goods (FMCG) industry is growing across the world and transportation of the finished consumable goods is an important process in the FMCG industry. While transporting the goods, packaging safety is very important. Returnable packaging is durable and provides safety to the products. Due to this reason, demand for returnable packaging product is expected to increase during the forecast period.
Restraining factors for the growth ofreturnable packaging market:
Initial investment associated with returnable packaging is anticipated to hamper the growth of the returnable packaging market.
Condition of economy in some countries is uncertain in the Asia-Pacific region, which is considered to be an important region for returnable packaging. This is expected to hamper the growth of the returnable packaging market during the forecast period.
Key segments covered:
Segments | Sub-segments |
Product type | Â
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Material type | Â
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End user Industry | Â
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Key benefits of the report:
- This study presents the analytical depiction of the returnable packaging market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the returnable packaging market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the returnable packaging market growth scenario.
- The report provides a detailed returnable packaging market analysis based on competitive intensity and how the competition will take shape in coming years.
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