Returnable Packaging Market Trends, Analysis, Future scope, Size, Share, Forecast to 2023

Summary

Returnable Packaging Market Analysis, Trends, Opportunities, Size, Share By Material (Plastic, Metal, Wood and Others), Product Type (Pallets, Crates, Intermediate Bulk Container (IBC), Dunnage, Drums & Barrels, Bottles and Others), End Use (Automotive, Food & Beverages, Pharmaceuticals & Healthcare, and Consumer Goods) - Global Forecast till 2023

Returnable Packaging Market Overview

The global returnable packaging market is presumed to expand at a CAGR of 5.8% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report. Returnable packaging is also acknowledged as reusable packaging and is made of durable materials like corrugated plastics and polypropylene. Returnable packaging is exclusively designed for multiple trips having extended shelf-life. This kind of packaging is extensively used in automotive, F&B, consumer goods, and pharmaceutical applications.

Request Free Sample Copy With TOC @ https://www.marketresearchfuture.com/sample_request/6893

Competitive Dashboard

The players dominating the global returnable packaging market include

• Schoeller Allibert (Netherlands)
• Brambles (Australia)
• DS Smith (UK)
• Menasha Corporation (US)
• Nefab Group (Sweden)
• Myers Industries (US)
• IPL Plastics (Ireland)
• Rehrig Pacific Company (US)
• Vetropack Holding (Switzerland)
• Schutz GmbH & Co. KGaA (Germany).

Market Potential and Pitfalls

The global returnable packaging market has witnessed a tectonic surge over the past few years, mainly due to the surging demand for returnable packaging from several end use sectors, like consumer goods, F&B, and automotive. Returnable packaging offers benefits such as durability, flexibility, reusability, and are cost-effective, which further drives the growth of the market across the globe. With the rising demand for flexible, cost-effective bulk packaging, the market is anticipated to flourish in the foreseeable future.

The growing use of biodegradable alternatives is considered one of the latest trends encouraging the market growth. Biodegradable materials like starch, PLA, PHA, and cellulose are used as container materials and are gaining traction among the end users. The growing demand for bio-based products has shifted the focus of manufacturers from synthetic to bio-based products to produce returnable packaging materials. Such factors are likely to contribute to the growth of the returnable packaging market globally. The returnable packaging market is likely to experience healthy growth due to the increasing demand from end use industries owing to its robust performance. Mounting vehicle production across the globe is also expected to influence the market.

Though returnable packaging reduces disposal cost and purchase cost, it increases the logistics cost due to the need to control the return cycle. Thus, the higher cost is a major concern likely to vitiate the market growth across the globe.

Returnable Packaging Market: Segmental Analysis

The returnable packaging market is segmented on the basis of material, product type, and end-use.

By material, the returnable packaging market is segmented into metal, plastic, wood, and others.

By product type, the returnable packaging market is segmented into crates, pallets, intermediate bulk container (IBC), drums & barrels, dunnage, bottles, and others. Of these, IBC containers are likely to dominate the market due to the surging demand from several end use applications like petroleum & lubricants and F&B. IBCs are highly preferred as they offer durability, high strength, and long span.

By end use, the market is segmented into food & beverages, automotive, consumer goods, and pharmaceuticals & healthcare. Of these, the automotive segment is predicted to expand at the highest rate due to the rising use of returnable containers by the automotive manufactures to transport automotive parts to the suppliers.

Regional Frontiers

Geographically, the returnable packaging market spans across Europe, North America, Asia Pacific, and Rest of the World (RoW).

Considering the global scenario, Europe is anticipated to expand at the highest CAGR, mainly due to the surging awareness to reduce packaging waste, coupled with the increased demand for bulk transportation. The presence of a strong industrial base in Europe and surging awareness among the consumers regarding sustainable packaging are some of the major factors propelling the growth of the regional market. The market is also influenced by the improving economy and increasing domestic demand for packaged food and beverage items. The growing awareness for reducing packaging waste among the masses is further likely to encourage the market growth in Europe.

North America will experience the fastest growth rate due to rapidly expanding consumer markets and the high availability of natural resources. In this region, the U.S. is considered to be the primary contributor to the market growth. The shifting preferences of large retailers towards block pallets and increased use of reusable packaging in the F&B industry are likely to fuel the market growth in North America.

India and China in the Asia Pacific are anticipated to contribute significantly, owing to the rapid growth in manufacturing activities and industrialization.

Get Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/returnable-packaging-market-6893

For Press Release, Click @ https://www.marketwatch.com/press-release/returnable-packaging-market-2019-global-size-development-strategy-sales-revenue-emerging-trends-competitive-landscape-opportunity-assessment-and-regional-forecast-to-2023-2019-01-22

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact

Market Research Future

Phone: +1646 845 9312

Email: sales@marketresearchfuture.com

Market Research Reports