Returnable Packaging Market Global Trends, Key Vendors, Drivers, Profits & Analysis, Forecast to 2027
Research Reports
Mar 07, 2022
Market Analysis
Market Research Future (MRFR) projects the global returnable packaging market to grow at a CAGR of 6.2% from 2020 to 2027 (forecast period).
Increased Awareness About Sustainable Packaging
Returnable packaging, also known as reusable packaging, is comprised of long-lasting materials such as polypropylene and corrugated plastics. It is intended for several trips and has a long shelf life. Returnable packaging has several advantages, including cost-effectiveness, better product safety, and reusability.
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The demand for sustainable and durable packaging goods from various end-use sectors is driving the growth of the returnable packaging market. Furthermore, the different benefits of returnable packaging are having a significant impact on the rise of returnable packaging from 2020 to 2027. Rising urbanization, increased disposable income, and high pack size optimization are expected to fuel the market’s growth for the reasons stated above, and the market is also expected to rise significantly throughout the forecast period. Furthermore, increased product demand for standard dimensional sizes, such as sleeve packs and boxes, as well as the easy availability of various returnable packaging containers based on customer requirements, are likely to drive the growth of the returnable packaging market during the forecast period. The operation costs of the target product are likely to fall due to the recyclable nature and accessibility of many options to pick from, which is a major element actively driving the demand for the returnable packaging market. Similarly, growing R&D investments and various companies are primarily attracted to returnable transport packaging products due to their sustainability, economical and ergonomic benefits, which will further offer different growth opportunities for the growth of the returnable packaging market from 2020 to 2027.
COVID-19 Impact on the Global Market
The global returnable packaging market has been unaffected by the COVID-19 outbreak. Customers’ high demand and shifting objectives of food providers and brands can benefit the market. Demand may be driven by the launch of food delivery mobile applications and ordering from home as a result of changes in customer habits. Due to the high demand for canned and packaged goods, returnable packaging is widely used. Personal care product refill shipments with minimal weight and parcel size will be prioritized in the market. Lightweight items, together with brand owners enhancing packaging to avoid theft or counterfeiting, have the potential to boost the market.
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Returnable Packaging Market – Segments
The market is segmented into material, product type, end-use, and regions. The material segment is sub-segmented into plastic, metal, wood, and others. Among these, the plastic segment accounts for the largest market share due to the increasing preference for plastic returnable packaging for their extensive flexibility, reusability and cost-effectiveness.
The product type segment is sub-segmented into pallets, crates, intermediate bulk containers (IBC), dunnage, drums & barrels, bottles and others. Among these, the IBC container segment accounts for the largest market share due to the rise in demand from various end-use applications like food & beverages and petroleum & lubricants. The pallets segment is expected to contribute significantly during the forecast period, mainly due to increased demand for consumer goods.
The end-user segment is sub-segmented into automotive, food & beverages, pharmaceuticals & healthcare, and consumer goods. Among these, the automotive segment accounts for the largest market share due to the increased use of returnable containers by automotive manufacturers to transport different parts and components to suppliers and reduce cost.
The food & beverages segment is also expected to contribute significantly due to the increase in demand for storage and transportation of bulk food products and various beverages. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the rest-of-the-world.
Regional Analysis
Europe to Dominate the Global Market
In 2017, the European area had the biggest market share, followed by North America and Asia-Pacific. Increased awareness about sustainable packaging and a strong industrial foundation in this region are factors influencing the growth of this market. Furthermore, the region’s economy is improving, and there is an increase in demand for packaged food and beverages, which is propelling the industry forward. During the forecast period, Europe is expected to grow at the fastest CAGR. The key driving factors are increased awareness of the need to reduce packaging waste and increased demand for bulk transportation.
Returnable Packaging Market – Competitive Analysis
The returnable packaging market appears to be highly competitive due to several large and small players. Well-established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a larger competitive share in this market and thus to maintain their market position.
They compete based upon pricing and product & service. They strive to offer a customized product portfolio designed to meet specific customer objectives and a broad range of services, from assembly to packing, with state-of-the-art service centers.
Key Players
Notable players in the worldwide returnable packaging market are Brambles (Australia), DS Smith (UK), Schoeller Allibert (Netherlands), Menasha Corporation (US), Myers Industries (US), Nefab Group (Sweden), Rehrig Pacific Company (US), Schutz GmbH & Co. KGaA (Germany), IPL Plastics (Ireland), and Vetropack Holding (Switzerland).
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Industry/ Innovation/ Related News
May 11, 2021— Schoeller Allibert, a recyclable, reusable and returnable transit packaging (RTP) solutions specialist in Europe, announced that it would be showcasing its latest innovations at IntraLogisteX 2021 in July.
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