The returnable transport packaging market revenue totaled US$ 24 billion in 2020, according to FMI. The overall global market is expected to register a CAGR of 4.8% between 2021 and 2031. The demand for returnable transport packaging will accelerate with the top 3 providers cumulatively accounting for 15-20% of the global sales of returnable transport packaging in 2021.
The global returnable transport packaging is projected to register a CAGR of 4.8% during the forecast period due to the rising demand for protective, lightweight, cost-effective, and reusable transport packaging solutions among the various end-use industries across the globe.
Returnable transport packaging is a packaging solution in which goods/products can be transported more than one time which means they can be reused. It is a reverse logistic system that helps in refining the supply chain.
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Returnable packaging solutions include IBC, pallets, plastic crates, layer pads, drums, and dunnage bags. The global returnable transport packaging market is anticipated to grow conaiderably due to the increasing trade between various countries along with the implementation of various logistic regulations by governments.
Focus on reducing the single-use packaging wastage will propel the demand for returnable transport packaging. The returnable transport packaging market is therefore finding applications in various end-use industries such as food & beverage, chemical, building & construction, retail, logistics, and others.
Reusable transport packaging helps in providing safety and security to the product along with reducing the cost which benefits the manufacturers as well as the vendor/customer. Higher demand for lightweight packaging for cost-benefit often associated with it bolsters the sales of returnable transport packaging.
These packaging methodology also helps in reducing the packaging waste and carbon footprint. Besides this, FMI projects the market to gain from the rising demand for returnable transport packaging with RFID or other tracing system integrated on them.
The increase in production by various industries to compensate the loss incurred during the COVID-19 pandemic will enable growth in the returnable transport packaging market.
Returnable transport packaging includes IBC, pallets, crates, layer pads, drums, and dunnage bags which can be re-used. This packaging solution provides safe and secure transportation of goods and helps in reducing the carbon footprint as the same product can be re-used for transportation of another goods.
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Key Takeaways from Returnable Transport Packaging Market
- By product type, the IBC segment followed by the pallets segment is anticipated to remain the most lucrative, accounting for approximately 70% of the market share in the next five years.
- Based on material type, the cost-effective and lightweight feature will aid dominance of the plastic segment. It will account for around 69% of the market share in 2021.
- By end use industry, food & beverage segment followed by chemical segment is estimated to remain dominant. Both industries will collectively account for nearly 80% of the market share in 2021.
- China will spearhead growth in East Asia while demand in North America will be driven by sales in the U.S.
- Germany will lead sales in Europe, trailed by the U.K.
“The increasing trade flow across various regions will propel the demand for returnable transport packaging to reduce the cost as well as reduce carbon footprint. Implementation of stringent environmental protection regulations will encourage use of returnable transport packaging as a viable packaging solution in transportation & logistics,” says a FMI analyst.
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Returnable Transport Packaging Market Competitive Landscape
Brambles Limited, Greif, Inc., Mauser Packaging Solutions, DS Smith Plc., and Schuetz GmbH & Co. KGaA are the top players operating in the target market. Furthermore, Time Technoplast Ltd., Schoeller Allibert Services B.V, and others are also noticeable players in the market. The Tier 1 players in the market hold 10-15% in the global market for returnable transport packaging.
Returnable Transport Packaging Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for returnable transport packaging, analyzing historical demand from 2013-2020 and forecast statistics for 2021-2031. The study reveals market growth projections on the returnable transport packaging based on product type (IBC (rigid and flexible), pallets (wood, plastic, and metal), plastic crates, layer pads, drums (plastic, metal, and fiber), and dunnage bags), material type (metal, plastic, paper, and wood), and end use industry (building & construction, food & beverage, chemical, retail, other industrial, and logistics) across seven regions.