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.
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
| Aspects | Details |
 By Material |
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 By Product |
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 By End User Industry |
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 By Region |
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 Key Market Players | Myers Industries Inc., Cabka Group, Multipac Systems, IPL Plastics, Monoflo International, UFP Technologies, Menasha Corporation, reusable transport packaging, Vetropack Holding, Rehrig Pacific Company, DS Smith plc, Brambles Limited, Schutz Gmbh & Co. Kgaa, Nefab Group, Plasmix Private Limited, Schoeller Allibert, Amatech Inc. |
Analyst Review
Asia-Pacific is expected to dominate the returnable packaging market during the forecast period. Surge in demand for ready-to-eat meals, packaged food, or instant drinks attributed to changes in lifestyle of consumers as they have very little time to prepare their food, which propels the demand for returnable packaging. Returnable packaging are used for promotional, marketing, or advertising purposes to be distributed as a sample to consumers and to make them aware about the products. Moreover, rise in the number of retail industries and investments by key players for development of eco-friendly & recyclable packaging material lead to growth of the returnable packaging market. This is expected to propel the growth of the returnable packaging market during the forecast period.
Players operating in the market have adopted acquisition, partnership, business expansion, and product launch as their key growth strategies to gain a stronger foothold. For instance, in April 2021, Constantia Flexibles opened a new fully automated production site of Constantia Copenhagen that covers a total area of 6,000m, where returnable packaging solutions can integrate more processes and products to expand its business. It aims to improve the presence and competitiveness in the market.
The global returnable packaging market was valued at $103,700.0 million in 2021, and is projected to reach $191,705.3 million by 2031, registering a CAGR of 6.2% from 2022 to 2031.
The forecast period considered for the global returnable packaging market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.
Latest version of global returnable packaging market report can be obtained on demand from the website.
The base year considered in the global returnable packaging market report is 2021.
The top companies holding the market share in the global returnable packaging market report include 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.
The top seventeen market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 17 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
By material, the plastic segment is the highest share holder of returnable packaging market.
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