The returnable packaging global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Returnable Packaging Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The returnable packaging market size has grown strongly in recent years. It will grow from <b>$120.34 billion in 2023 to $128.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. </b> The growth in the historic period can be attributed to sustainability initiatives, reduced packaging waste, cost savings in supply chain, efficient product transportation, automotive and manufacturing adoption, focus on reusability.
The returnable packaging market size is expected to see strong growth in the next few years. It will grow to <b>$168.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. </b> The growth in the forecast period can be attributed to pharmaceutical and healthcare adoption, rising consumer awareness, focus on hygiene and safety, economic considerations, demand for premium and high-value products, expansion of rental models. Major trends in the forecast period include expansion of closed-loop supply chains, collaborative initiatives in packaging consortia, advancements in returnable packaging design, integration of rfid and tracking technologies, consumer demand for sustainable packaging solutions.
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Scope Of Returnable Packaging Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Returnable Packaging Market Overview
Market Drivers –
Increased demand for sustainable and durable packaging products is expected to propel the growth of the returnable packaging market going forward. Sustainable packaging refers to the creation and use of packaging that improves sustainability. Sustainable and durable packaging products with returnable properties help in reusing the package and reducing the burden on the environment. For instance, according to the 2021 Global Buying Green Report, by Trivium Packaging, a Netherlands-based high-quality and infinitely recyclable metal packaging provider, a survey of end users in Europe, North America, and South America, from which 83% of consumers among younger generations showed a willingness to pay more for sustainable packaging in 2021 as compared to 70% in the previous year. Therefore, increased demand for sustainable and durable packaging products is driving the growth of the returnable packaging market.
Market Trends –
Advanced technologies are a key trend gaining popularity in the returnable packaging market. Major players operating in the returnable packaging market are developing advanced technologies to sustain their position in the returnable packaging market. For instance, in March 2022, Oakland International, a UK-based logistics and packaging company, launched OakRA, a sustainable, fully reusable, temperature-controlled packaging unit for home and business direct delivery that uses RFID technology to keep track of the boxes and ensure they are reused. The OakRA’s goal is to replace enormous amounts of trash packing and insulation with a new method of shipping things that is more durable, secure, and can be used endlessly. Its unique features include being sturdy and lightweight. It offers great thermal insulation and significant impact resistance. The water-resistant substance of the boxes, along with their tamper-evident banding, make them perfect for chilled, frozen, or ambient vegetables.
The returnable packaging market covered in this report is segmented –
1) By Product: Pallets, Crates, IBCs, Drums and Barrels, Dunnage, Other Products
2) By Material: Plastic, Metal, Wood
3) By End User: Food and Beverage, Automotive, Consumer Durables, Healthcare, Other End Users
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Regional Insights –
Europe was the largest region in the returnable packaging market in 2023. The regions covered in the returnable packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the returnable packaging market report are Nefab AB, Amatech Inc., Brambles Ltd., Celina Industries LLC, CHEP Inc., DS Smith plc, IPL Plastic Inc., Menasha Corporation, ORBIS Corporation, PPS Midlands Limited, Rehrig Pacific Company Inc., Schoeller Allibert Group BV, Schütz GmbH & Co KGaA, Tri-Pack Packaging Systems Limited, Vetropack Holding SA, Loadhog Limited, Celina Projects Private Limited, Myers Industries Inc., RPR Inc., UBEECO Packaging Solutions, Atlas Box & Crating Co., Buckhorn Inc., Craemer Holding GmbH, Econovus Packaging Pvt. Ltd., LEAP India Pvt. Ltd., Linpac Group Ltd., Loadhog Limited, Monoflo International Inc., Plastic Packaging Solutions Midlands & East Ltd., Polymer Logistics Inc., Reusable Transport Packaging, Schaefer Systems International Pvt. Ltd., SSI Schaefer Limited, Tri-pack Packaging Systems Ltd.
Table of Contents
1. Executive Summary
2. Returnable Packaging Market characterstics
3. Returnable Packaging Market Trends And Strategies
4. Returnable Packaging Market – Macro Economic Scenario
5. Global Returnable Packaging Market Size And Growth
…..
31. Global Returnable Packaging Market Competitive Benchmarking
32. Global Returnable Packaging Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Returnable Packaging Market
34. Returnable Packaging Market Future Outlook and Potential Analysis
35. Appendix
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