Returnable Packaging Market will Reach an Estimated Worth of US$ 141.7 Billion by 2026, at a CAGR of 6.2%, Reveals MarketsandMarkets™
The global returnable packaging market size is projected to grow from USD 104.9 billion in 2021 to USD 141.7 billion by 2026, at a CAGR of 6.2% from 2021 to 2026. Returnable packaging is an environment-friendly and cost-effective alternative to one-way packaging products. This method is generally used by manufacturers/processors and their suppliers/customers in an organized supply chain with closely managed shipping loops. Returnable packaging is widely used and preferred in end-use industries such as food & beverage, automotive, consumer durables, and healthcare, amongst others.
Get an Exclusive PDF Sample Copy of This Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=231944920
Based on end-use industry, automotive segment is projected to be the larger segment in the returnable packaging market. The global automotive industry is characterized by the presence of complex supply chains and networks, requiring several processes to be integrated to enable inbound and outbound flow of returnable packaging. Several OEMs today are using returnable packaging to enhance the efficiency of their operations by reducing the lead time of delivering products back to manufacturers/suppliers. Returnable containers are widely used by automotive manufacturers to transport different parts of automotive components to suppliers of components. These components are then transported to assembly plants for assembling. In the automotive industry, plastics and steel are used for returnable packaging as they offer durability and tamper resistance. The demand for returnable packaging is continuously increasing in the automotive industry due to the pressure of cost reduction exerted on OEMs to handle competition in the market.
The returnable packaging market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa and South America. The Europe region accounted for the largest market share in 2020, in terms of both value and volume. Furthermore, the market for returnable packaging in the APAC region is projected to grow at the highest CAGR from 2021 to 2026, in terms of both value and volume.
Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231944920
The returnable packaging market has thousands of companies that thrive in their domestic market. A few of the major players are, Brambles (Australia), Schoeller Allibert (Netherlands), Menasha Corporation (US), DS Smith (UK), and Myers Industries (US), among others. These players have adopted various growth strategies, such as mergers & acquisitions, and expansions, to increase their market shares and enhance their product portfolios.
Brambles is a supply-chain logistics company with brands such as IFCO and CHEP and has operations in over 60 countries. The company’s business model is the continuous share and reuse of the largest pool of reusable crates, pallets, and containers. This enables the company to serve its customers while minimizing the environmental impact and enhancing safety and efficiency of the supply chain around the globe. Brambles offers a wide range of supply chain platforms comprising Reusable Plastic Crates (RPCs), pallets (plastic, timber, and display), specialized containers, bins, and safe handling equipment. In line with its strategic priorities, the company has decided to pursue the demerger of its IFCO RPC business with the aim to be a global leader in platform pooling. The company manages, maintains, transports, as well as supplies over 350 million platforms for its customers. It has a strong foothold in North America with 450 service centers across the region.
Schoeller Allibert is one of the largest manufacturers of returnable transit packaging. The company has been designing, developing, and manufacturing returnable packaging for over 60 years. Schoeller Allibert has been formed through partnerships and acquisitions of key players such as Schoeller, Perstorp, Wavin, Linpac, Arca, Allibert, Stucki, and Paxton, among others. The company offers a wide range of tailor-made and standard returnable packaging solutions through key product segments, namely, foldable small containers, foldable large containers, rigid pallet containers, stackable and stack /nest handheld boxes, beverage crates and trays, UN pails, Pallets and Dollies, and Foldable IBCs. The company has a strong foothold across the globe, with 14 production locations across 50 countries.
For any Queries Linked to the Report, Ask an Analyst at https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=231944920
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/returnable-packaging-market-231944920.html
