Returnable Transport Packaging (RTP) Market will reach nearly US$ 34,666.6 Mn by 2028 | FMI Reports
Global demand for returnable transport packaging (RTP) valuated at around US$ 22 billion in 2018, which is likely to witness a moderate surge of 4.3% in 2019. Future Market Insights (FMI) provides key insights on the global returnable transport packaging market in its published report. East Asia’s returnable transport packaging market will remain the top revenue shareholder, with an estimated share of more than 1/4th of the global value, according to the report.
Returnable transport packaging has been a safe and efficient transportation solution throughout the supply chain across several end-use industries, including food & beverages, building & construction, and chemicals among others. In addition, returnable transport packaging solutions can be reused and recycled. Furthermore, returnable transport packaging is a type of reverse logistics that ensures more efficient supply chain system with improved service quality.
The growth in intercontinental trade is fuelling the demand for returnable transport packaging solutions. The adoption of returnable transport packaging has increased among industrial users. The returnable transport packaging market has been consistently witnessing evolution of product designs to cater to end user demands. Widespread availability of various returnable transport packaging products such as IBCs, pallets, drums, layer pads, plastic crates, and dunnage bags of different capacities allow convenient packaging of agricultural goods.
In this report, FMI recommends that returnable transport packaging will play a major role in the food & beverage industry during the forecast period. Increase in trade activities and the use of crates and pallets for transportation have boosted the sales of returnable transport packaging solutions. Another factor driving the growth of the global returnable transport packaging market is its minimum contamination issue, since plastic crates and plastic pallets are manufactured from the blow molding process. Bulk containers have generated a great level of productivity for the shipping industry and also helped them achieve subtle profitability.
The global demand for returnable transport packaging is heavily influenced by the dynamics of the global supply chain and logistics industries. Returnable transport packaging caters to specific requirements arising in the supply chain and logistics process of the companies engaged in the shipment of the consumer as well as the industrial goods. Despite the positive factors, there are certain factors which hinder the growth of the global returnable transport packaging. Lack of infrastructure and weaker supply chain capabilities are hampering the growth of returnable transport packaging solutions in some parts of the world.
The growth of returnable transport packaging can mainly be attributed to the contributions from the East Asia region. According to the research by Future Market Insights, the South Asia returnable transport packaging market has witnessed significant growth in the past couple of decades. Manufacturers of returnable transport packaging solutions like drums, pallets, IBCs, crates, etc. are looking forward to tapping into lucrative opportunities provided by the South Asia and East Asia returnable transport packaging market. Bulk packaging solutions for the storage and transit of fresh produce and food items provided by returnable transport packaging are positive factors driving the growth of the returnable transport packaging market.
Key players considered in this report on the global returnable transport packaging market include Greif, Inc., Brambles Limited, Mauser Packaging Solutions, Schoeller Allibert Services B.V, DS Smith Plc, Time Technoplast Ltd., Berry Global, Inc, Cordstrap B.V, Schuetz GmbH & Co. KGaA, Supreme Industries Limited, PalletOne, Inc, Balmer Lawrie & Co. Ltd., Craemer Holding GmbH, Cabka Group GmbH, Bulk Lift International, Inc, Thielmann US LLC, TranPak, Inc, Rehrig Pacific Company, Inc., Myers Industries, Inc and Snyder Industries, Inc.
Source Link: https://www.globenewswire.com/news-release/2019/03/04/1745869/0/en/Returnable-Transport-Packaging-RTP-Market-Size-Worth-US-34-666-6-Mn-by-2028-Future-Market-Insights.html
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Source: Future Market Insights