According to TechSci Research report, “Returnable Packaging Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Returnable Packaging market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the Global Returnable Packaging Market is the use of returnable packaging products for the transportation of auto components, such as body parts from the sellers to the assembly units. In addition, regular and little-distance transportation of heavy and big auto parts generates demand for effective, durable, and sturdy packaging products, such as dunnage, pallets, and racks, thereby increasing the demand of returnable packaging. Moreover, increasing demand for effective and low-cost bulk liquid transportation products from various end-use industries is expected to contribute to the high growth of the product segment. Thus, the rising demand for sustainable packaging to reduce wastes and lower carbon footprint, which further fuel the growth of Global Returnable Packaging market.
For instance, according to BMW group, they use sustainable and durable packaging material for transportation of automobiles.
Furthermore, the market is being further stimulated by growing demand from healthcare, food & beverage, e-commerce, and consumer durable sectors.
However, volatility in raw material costs can slow down market growth. Also, addition with existing supply chain logistics can further restrain the market growth.
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Global Returnable Packaging Market is segmented based on material, product, end use, and region.
Based on material, the market is categorized into plastic, metal, wood, and others. Plastic segment is expected to hold the largest market share in the forecast period, 2024-2028. This is due to their durability, low weight, strong corrosion, and solvent resistance.
Based on product, the market is segmented into pallets, crates, intermediate bulk containers (IBCs), and others. Pallets segment is expected to hold the largest market share in the forecast period, 2024-2028 as it provides effective protection of goods from mechanical rupture while shipping.
Based on end use, the market is fragmented into food & beverages, automotive, consumer durables, and others. Automotive segment is expected to hold the largest market share in the forecast period, 2024-2028. This is due to increasing demand for the transportation of automotive products from supplier to installation center.
Major companies operating in the Global Returnable Packaging market are:
- ORBIS Corporation
- Econovus Packaging Pvt. Ltd.
- Nefab AB
- Plastic Packaging Solutions Midlands & East Ltd.
- Tri-pack Packaging Systems Ltd
- Amatech Inc
- CHEP International Inc
- LEAP India
- Schoeller Allibert Services B.V.
- Celina Industries
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“Asia Pacific region is expected to grow at the highest rate during the forecast period due to rapid industrialization and expanding manufacturing industry. Additionally, the existence of a huge number of production companies creates lucrative opportunities for the market growth. Furthermore, in North America, the presence of the major food and beverage, automobile, pharmaceutical industries along with favorable trade agreements are creating huge prospects for the market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Returnable Packaging Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Material (Plastic, Metal, Wood, Others), By Product (Pallets, Crates, Intermediate Bulk Containers (IBCs), Others), By End Use (Food & Beverages, Automotive, Consumer durables, Others), By Region, and Competition, has evaluated the future growth potential of Global Returnable Packaging Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Returnable Packaging Market.”
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