Returnable Packaging Market

Returnable Packaging Market Research, 2031

The global returnable packaging market size was valued at $103.7 billion in 2021, and is projected to reach $191.7 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031. Returnable packaging is not only reusable, however is a durable and cost-efficient packaging solution that can reduce the shipping and storage costs for companies in almost any type of industry.

Returnable packaging market was hampered during the outbreak of COVID-19 as strict restrictions were applied on transportation and logistics of products.

The growth in adoption of flexible and lightweight packaging for fast moving consumer goods industry is the major factor driving the growth of the market. In addition, use of new techniques for new designs for packaging is leading to adoption of high quality materials for packaging for cosmetic industry. Thus, this in turn is driving the growth of the market. Moreover, adoption of automation in packaging is another factor driving the returnable packaging market growth.

However, the uncertain price of raw materials used for manufacturing the returnable packaging is leading to high cost of such packaging form. Thus, this the factor limiting the growth of the returnable packaging market share.

During the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. This led to decline in manufacturing of various equipment used for returnable packaging as well as their demand in the market, thereby restraining the growth of the returnable packaging market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of returnable packaging companies at their full-scale capacities that helped the returnable packaging industry to recover by end of 2022.

On the contrary, growing e-commerce industry is leading to growth in demand for flexible packaging solutions. Thus, this is expected to offer new returnable packaging market opportunity.

The returnable packaging market is segmented into material, product and end user Industry. By material, the market is categorized into plastic, metal, wood and others. On the basis of product, the market is fragmented into pallets, crates, boxes, and others. The end user industry segment is fragmented into manufacturing, food & beverages, consumer goods, healthcare, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of material, in 2021, the plastic segment dominated the market, in terms of revenue, and others segment is expected to witness growth at the highest CAGR during the forecast period. As per product, in 2021, the pallets segment led the returnable packaging market, and the boxes segment is expected to exhibit highest CAGR in the near future. By end user industry, the manufacturing segment led the market in 2021, in terms of revenue and the healthcare segment is anticipated to register highest CAGR during the forecast period. Region wise, Asia-Pacific garnered the highest revenue in 2021; however, LAMEA is anticipated to register highest CAGR during the forecast period.

COMPETITION ANALYSIS

The major players profiled in the returnable packaging market report include Amcor Plc., Amatech Inc., Brambles, Cabka Group, DS Smith, Ipl Plastics, Menasha Corporation, Monoflo International, Multipac Systems, Myers Industries, Nefab Group, Plasmix Private Limited, Rehrig Pacific Company, Reusable Transport Packaging, Schoeller Allibert, Schutz Gmbh & Co. Kgaa, UFP Technologies and Vetropack Holding. Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the market.

Key Benefits For Stakeholders 

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the returnable packaging market analysis from 2021 to 2031.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the returnable packaging market forecast.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global returnable packaging market trends, key players, market segments, application areas, and market growth strategies.

 Returnable Packaging Market Report Highlights