The market for returnable transport packaging is anticipated to reach a value of US$27.81 billion in 2023 and US$45.73 billion by 2033. Throughout the forecast period, the market is expected to grow at a CAGR of 5.1%.
- The market is expanding as a result of the increased demand for recycled and used products.
- Dunnage bags, IBCs, layer pads, plastic crates, and drums are a few examples of returnable packing options.
- Returnable transport packaging is becoming more popular as global trade and transportation expand and waste increases.
- Manufacturers and major players concentrate on decreasing single-use packaging waste because it is predicted that the industry would grow rapidly.
- Growing government initiatives, logistical rules, and a number of major participants are promoting market expansion.
- The market size is being driven by end-use sectors including retail, food & beverage, logistics, chemical, and building & construction.
- The need for returnable transport packaging is rising as a result of increased production, new product introductions, and financial advantages.
- Returnable transport packaging reduces costs while ensuring safety and security for both consumers and manufacturers.
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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Also, it helps in refining the supply chain as it is a reverse logistic system. These factors have encouraged the use of returnable transport packaging in various industries such as building & construction, food & beverage, chemical, retail, logistics, and others.
Returnable transport packaging is available in different materials such as metal, paper, plastic, and wood as per the requirement of end users. It offers clean and organized packaging solution as it reduces and eliminates the mess created by one-way packaging such as trash, dust, and others.
It also helps in building a brand reputation as it indicates that the company is adopting sustainable packaging solutions. On the back of these factors, the demand for returnable transport packaging is anticipated to grow during the foreseeable period.
Future Market Insights forecasts that the increasing trade activities along with the rising demand for re-useable and sustainable packaging solutions are projected to create growth opportunities for returnable transport packaging market.
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.
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“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.
Focus on Sustainability fuelling Demand for Returnable Transport Packaging
Returnable transport packaging is gaining popularity among the various industries due to the increasing need for safe, secure, environmentally friendly, cost-effective, and lightweight packaging solutions.
These packaging solutions can be reused which helps in addressing the sustainability concern as it helps in reducing the waste created by one-way packaging along with reducing the carbon footprint.
It helps in minimizing the use of raw materials, energy consumption, and wastage. Also, the returnable transport packaging solutions adhere to government regulations to support environmental sustainability.
The returnable transport packaging also contributes towards lowering the production cost which has created buzz among various industries. Moreover, the industries can save huge cost, which they normally incurred on disposing of packaging material. Overall, the increasing demand for sustainable, cost-effective and secure packaging solutions among the various end users will bolster the demand for returnable transport packaging.
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.
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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.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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