The global returnable packaging market size is projected to reach nearly USD 69.0 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 6.2% over the forecast period of 2020-2028.
— Global Returnable Packaging Market
The packaging in which the materials used is durable ones like plastic, wood and metal is known as Returnable or recycled packaging. They are specially engineered in the supply chain in order to cope up with the harsh handling and can survive for numerous trips. The initial investments for such goods are relatively higher as compared to the expendable packaging but the challenge can be conquered as the charges per trip are lower. So the increase in the number of trips can help in getting a fast return on investment. The returnable packaging is gaining traction all over the globe due to the numerous features it provides.
The Global Returnable Packaging Market has had a major spike in overall market performance over the past years. The rising demand for returnable packaging from different end-use industries like consumer durables, automotive and food & beverage is one of the crucial factors contributing a major share in the Returnable Packaging market growth. The rising urbanization across the globe has also been fuelling the growth of the industry on global level. The cost-effectiveness of the returnable packaging is playing a vital part in increasing the potential customer base of the industry. The rising awareness regarding the sustainable and durable packaging products among several industry verticals is another fundamental parameter propelling the growth of the global market.
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The key players in the Market are mainly attracted by the ergonomic, economic benefits and also their sustainability. The economic benefits of returnable packaging include disposal of expendable packaging, reduction in cost associated with the purchase and also the low cost per trip in the longer term. These benefits are grabbing attraction of population and are expected to provide momentum to the industry growth in the future. The emergence in the adoption of sustainable packaging solutions by industries in order to improve the brand reputation associated with the stringent measures related to the use of plastic are adding fuel to the growth of the global Returnable Packaging Market.
The major players of the global returnable packaging market are Schoeller Allibert, Brambles, Menasha Corporation, DS Smith, Nefab Group, Myers Industries, and Rehrig Pacific Company. Moreover, the market comprises several other prominent players in the returnable packaging market as Schutz GmbH & Co. KGaA, IPL Plastics, and Vetropack Holding.
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Segment Overview of Global Returnable packaging Market
Product Type Overview, 2018-2028 (USD Billion, Million Tons)
• Intermediate Bulk Containers (IBCs)
• Drums & Barrels
Material Overview, 2018-2028 (USD Billion, Million Tons)
End Use Type Overview, 2018-2028 (USD Billion, Million Tons)
• Food & Beverages
• Consumer Durables
Regional Overview, 2018-2028 (USD Million, Million Tons)
• Rest of Europe
• Rest of Asia-Pacific
Middle East and Africa
• South Africa
• Rest of Middle East and Africa
• Rest of South America
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Release ID: 89007311