The global returnable shipping packaging market will grow at a CAGR of 4.8% between 2021 and 2031. Government regulations and environmental concerns in favor of intercontinental trade include chemicals, food and beverage, building and construction, and others.
Returnable shipping packaging includes reusable IBCs, pallets, cartons, layer pads, drums and cushioning bags. This packaging solution provides safe and secure transportation of goods and helps reduce carbon footprint by allowing the same product to be reused for transportation of other goods.
It also helps in refining the supply chain as a reverse logistics system. These factors have encouraged the use of returnable transport packaging in a variety of industries such as building and construction, food and beverage, chemical, retail, logistics, and more.
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Returnable shipping packaging is available in a variety of materials, such as metal, paper, plastic, and wood, depending on the requirements of the end user. We provide a clean and organized packaging solution by reducing and eliminating the clutter caused by one-way packaging, such as garbage and dust.
It also helps build brand reputation as it indicates that the company is adopting sustainable packaging solutions. Based on these factors, the demand for returnable shipping packaging is expected to increase over the foreseeable period.
Future Market Insights anticipates that increasing trade activity coupled with growing demand for reusable and sustainable packaging solutions will create growth opportunities for the returnable shipping packaging market.
Key highlights of the returnable shipping packaging market
- By product type, the IBC segment and the pallet segment are projected to be the most profitable, accounting for approximately 70% of the market share over the next five years.
- Depending on the material type, its cost-effective and lightweight features help give it an edge in the plastics sector. By 2021, it will account for about 69% of the market share.
- By end-use industry, it is estimated that the chemical sector remains dominant, followed by the food and beverage sector. By 2021, both industries will account for nearly 80% of the market share.
- China will drive growth in East Asia and demand in North America will be driven by sales in the US.
- Germany will lead sales in Europe, followed by the UK.
“Increasing trade flows across different geographies will drive demand for returnable shipping packaging to reduce costs and reduce carbon footprint. Enforcing stringent environmental protection regulations will encourage the use of returnable shipping packaging as a viable packaging solution in the transportation and logistics sector,” said an FMI analyst.
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Focus on sustainability driving demand for returnable shipping packaging
Returnable shipping packaging is gaining popularity across a variety of industries due to the growing demand for safe, secure, environmentally friendly, cost-effective and lightweight packaging solutions.
These packaging solutions are reusable and help address sustainability issues as they help reduce the waste generated by unidirectional packaging along with a reduced carbon footprint.
It helps to minimize raw material use, energy consumption and waste. In addition, returnable shipping packaging solutions are compliant with government regulations to support environmental sustainability.
Returnable shipping packaging also contributes to reducing production costs, which is a hot topic in a variety of industries. In addition, the industry can save huge amounts of money that would normally be incurred when disposing of packaging materials. Overall, the growing demand for sustainable, cost-effective and safe packaging solutions among diverse end users will drive the demand for returnable shipping packaging.
Returnable Transport Packaging Market Competitive Landscape
Brambles Limited, Greif, Inc., Mauser Packaging Solutions, DS Smith Plc. and Schuetz GmbH & Co. KGaA is the number one player operating in its target market. Time Technoplast Ltd. and Schoeller Allibert Services BV are also prominent players in the market. The Tier 1 players in the market share 10-15% of the global market for returnable shipping packaging.
Returnable Transport Packaging Market Report
Future Market Insights provides an unbiased analysis of the global market for returnable shipping packaging by analyzing historical demand from 2013-2020 and forecast statistics for 2021-2031 in a new report. This study covers product types (rigid and flexible), pallets (wood, plastic and metal), plastic boxes, layer pads, drums (plastic, metal and textile) and bags across seven regions), material types (metal, plastics, paper and wood), end-use industries (building and construction, food and beverage, chemical, retail, other industries and logistics).
About Future Market Insights Packaging
FMI’s Packaging Division provides in-depth historical analysis and detailed forecasts of the global packaging market. From packaging materials to designs and formats, FMI has an exhaustive market research database, providing unique offers and strategic recommendations to its clients. With a repository of more than 750 reports, the team comprehensively analyzed the packaging industry in more than 70 countries. The team evaluates every node in the value chain and provides end-to-end research and consulting services. Contact us to find out how we can help