Returnable packaging is a new type of packaging that is compact in size, inexpensive, and accessible to all. Growth in need for tiny, convenient packaging in foods & beverages, medicines, cosmetics & personal care, healthcare, and hygiene products has led to rise in demand for returnable packaging. Moreover, rise in the number of retail industries and investments by key players for development of eco-friendly & recyclable packaging material drive the returnable packaging market growth. Availability of alternatives such as flexible packaging & stick packaging, strict government rules regarding usage of non-plastics, and fluctuation in price of raw materials limit the market growth.
Major players have adopted product launch and acquisition as key developmental strategies to improve their product portfolio of the returnable packaging market. For instance, in February 2022, ProAmpac announced that it has acquired Belle-Pak Packaging, an award-winning provider of returnable packaging solutions.
This acquisition helped ProAmpac in expanding its offerings in new North American regions such as Canada. In addition, this strategy helped the company in offering its product for different new industries such as e-commerce, healthcare and logistics. Thus, this is expected to improve the product portfolio of the company.
The returnable packaging market is segmented into material, product, end user industry, and region. 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.
The COVID-19 pandemic forced many companies in the global returnable packaging market to halt business operations for a short term to comply with new government regulations to curb the spread of the disease. This halt in operations directly impacted revenue flow of the global returnable packaging market. In addition, there is a halt in manufacturing of industrial products, owing to lack of raw materials and manpower in the lockdown period. Further, no new consignments are received by companies that operate in this sector. Hence, halt in industrial activities and lockdowns for several months have affected the global returnable packaging market, and the market is anticipated to witness a slow recovery during the forecast period.
The key players profiled in the 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.
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 to identify the prevailing returnable packaging market opportunities.
- 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 segmentation assists to determine the prevailing market opportunities.
- 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.
Key Market Segments
By Material
- Plastic
- Metal
- Wood
- Others
By Product
- Pallets
- Crates
- Boxes
- Others
By End User Industry
- Manufacturing
- Food and Beverage
- Consumer Goods
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Rehrig Pacific Company
- reusable transport packaging
- Schoeller Allibert
- Amatech Inc.
- Brambles Limited
- Cabka Group
- DS Smith plc
- IPL Plastics
- Menasha Corporation
- Monoflo International
- Multipac Systems
- Myers Industries Inc.
- Nefab Group
- Plasmix Private Limited
- Schutz Gmbh & Co. Kgaa
- UFP Technologies
- Vetropack Holding
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Table of Contents
Executive Summary
According to the report, titled, “Returnable Packaging Market," the returnable packaging market size was valued at $103.7 billion in 2021, and is estimated to reach $191.7 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.Returnable packaging is durable packaging meant for multiple uses in a closed loop system. A closed loop system refers to a system in which materials are recycled and reused rather than discarded. This type of packaging can include pallets, racks, bulk containers, hand-held containers, and dunnage.A rapidly growing need exists for ways to provide safe and cost-effective transportation of hazardous foods & beverages and petroleum products, which boosts the demand for effective packaging. However, this leads to rise in public awareness of environmental impact of pipeline and their support in reducing packaging related greenhouse gas emissions, which is drives the need for effective packaging solutions that is safer toward environment. Thus, this drives the demand for returnable packaging products made of eco-friendly materials. In addition, population growth has a positive effect on growing demand for various daily products, such as water, milk, and petroleum products such as kerosene, diesel, and gasoline, which are expected to generate potential opportunities for the returnable packaging market during the forecast period.
Several manufacturers in the global returnable packaging industry stopped their business activities in 2020, owing to lockdowns implemented in developed and developing countries and ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the returnable packaging manufacturing companies.
In addition, lack of man power and raw materials affected the the returnable packaging market growth. However, the market is expected to recover completely by first quarter of 2023 owing to complete reopening of the returnable packaging manufacturing companies.
Moreover, in 2021, with the availability of vaccine against COVID-19, the global returnable packaging market is expected to gradually witness growth.
The returnable packaging market is segmented into material, product, end user industry, and region. 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.
The key players profiled in the returnable packaging market analysis 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 Holdings.
The global returnable packaging market has witnessed significant growth in the past decade, owing to rise in demand for compact and lightweight packaging in various sectors such as foods & beverages and pharmaceuticals. A number of players are expanding their business globally, owing to increased customer base, enhanced effective operations, and developed product portfolios. This is anticipated to fuel growth of the global market.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global returnable packaging market trends and dynamics.
- By material, the plastic segment was the largest revenue generator in 2021.
- By product, the pallets segment generated the highest revenue in 2021.
- By end user industry, the manufacturing segment dominated the market in 2021.
- Region-wise, Asia-Pacific is anticipated to dominate the global returnable packaging market share during the forecast period.
- The report provides an extensive analysis of the global returnable packaging market opportunities.
- The global returnable packaging market forecast analysis from 2022 to 2031 is included in the report.
Companies Mentioned
- Rehrig Pacific Company
- Reusable Transport Packaging
- Schoeller Allibert
- Amatech Inc.
- Brambles Limited
- Cabka Group
- Ds Smith plc
- Ipl Plastics
- Menasha Corporation
- Monoflo International
- Multipac Systems
- Myers Industries Inc.
- Nefab Group
- Plasmix Private Limited
- Schutz GmbH & Co. Kgaa
- Ufp Technologies
- Vetropack Holding
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 260 |
Published | August 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 103700 million |
Forecasted Market Value ( USD | $ 191705.3 million |
Compound Annual Growth Rate | 6.3% |
Regions Covered | Global |
No. of Companies Mentioned | 17 |