Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Returnable Packaging Market Size, Share & Trends Analysis Report By Material (Plastics, Metal), By Product (Pallets, IBCs), By End-use (Food & Beverage, Healthcare), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global returnable packaging market size is expected to reach USD 173.05 billion by 2030, expanding at a CAGR of 6.0%
The global returnable packaging market is on a trajectory of remarkable growth, propelled by the expansion of key end-use industries such as food & beverages, healthcare, and more. Returnable packaging products have emerged as a preferred solution for companies in these industries, offering a range of benefits over single-use or expendable packaging alternatives.
While the upfront procurement cost of returnable packaging might exceed that of single-use options, the ability to reuse these containers multiple times introduces a substantial cost advantage in the long run. This environmentally conscious approach aligns with the shift towards sustainability and circular economy practices. By embracing returnable packaging, companies can reduce the recurring costs associated with packaging production, contributing to both their bottom line and environmental goals.
In key sectors like food & beverages, pharmaceuticals, and automobiles, returnable packaging has found significant traction. Within these industries, returnable packaging products such as pallets, crates, intermediate bulk containers (IBCs), dunnage, and more play a crucial role in the internal handling of raw materials, semi-finished goods, and finished products within manufacturing plants.
Additionally, these durable and reusable containers facilitate the transportation of finished goods from manufacturing facilities to distribution centers and retail outlets. As manufacturing and distribution activities continue to expand within these sectors, the demand for returnable packaging products is set to surge, underlining the pivotal role they play in optimizing supply chain operations and minimizing environmental impact.
Furthermore, the global pharmaceutical industry is expected to witness strong growth in the coming years. Growing aging population, especially in developed countries such as Japan, France, Germany, and others; increasing health consciousness among consumers; improving healthcare infrastructure, particularly in developing countries such as India, Brazil, and China; and high emphasis on the strengthening of the healthcare sector, coupled with the introduction of various healthcare insurance schemes by governments globally, are primarily driving the pharmaceutical industry.
Industry players are adopting several strategies, including collaborations, mergers & acquisitions, joint ventures, and partnership agreements to expand the customer base and individual market share. For instance, in September 2022, CHEP and Cabka collaborated to supply reusable containers out of recycled plastics.
These containers are customized to CHEP's performance requirements and are set to maximize the use of recycled materials, facilitating a fully circular approach.
Returnable Packaging Market Report Highlights
- Plastic has emerged as a dominating material in the market for returnable packaging with a majority share in 2022 and is expected to maintain a leading position by 2030, owing to its wide application in the food & beverage and healthcare industries, due to its unique properties such as anti-shock during shipping the products
- Pallets recorded the largest market share in 2022 in the products segment, due to their higher compatibility, structural integrity, and easy cleaning properties. However, the lack of international standards and uniformity in the sizes of pallets is expected to challenge material handling and transportation corporations
- The healthcare segment is expected to expand at a substantial CAGR of 6.9% during the forecast period. The pharmaceutical industry requires packing products like pallets, containers, FIBCs, drums, and barrels for the transportation of chemicals, medicines, drugs, and vaccines in bulk quantities
- The increasing aging population in countries like Japan, Germany, Italy, Portugal, and other European economies are expected to increase the demand for pharmaceutical products and healthcare equipment, which is expected to drive demand for returnable packaging from the healthcare end-use industry
- However, the growing adoption of single-use flexible packaging and several shortcomings of returnable packaging, such as expensiveness in comparison to other single-trip products, restrains the market growth to some extent
- New product developments, coupled with mergers & acquisitions and capacity expansions, are some of the strategies adopted by industry players. For instance, during the 2022 Plastics Caps & Closures conference in September, the Orbis Corporation showcased its reusable packaging solutions designed to address the unique requirements of the primary packaging supply chain that includes bulk containers, pallets, and boxes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $109.34 Billion |
| Forecasted Market Value (USD) by 2030 | $173.05 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Market Dynamics
Market Driver Analysis
- Expanding Key End-Use Industries
- Inherent Benefits of Returnable Packaging
- Growing Sustainable Awareness and Favorable Regulatory Scenario
Market Restraint Analysis
- Growing Adoption of Single-Use Flexible Packaging
- Shortcomings of Returnable Packaging
- Market Challenges
- Fluctuating Raw Material Prices
Business Environment Analysis: Returnable Packaging Market
- Industry Analysis: PORTER'S Five Forces Analysis
- PESTEL Analysis
- Major Deals & Strategic Alliances Analysis
Market Lineage Outlook
- Parent Market Outlook: Green Packaging Market
- Related Market Outlook: Recycled Content Packaging Market
Industry Value Chain Analysis
- Raw Material Trends
- Polyethylene (PE)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Polypropylene (PP)
- Wood
- Metal
Company Profiles
- Orbis Corporation
- Nefab Group
- Pps Midlands Limited
- Tri-Pack Packaging Systems Ltd.
- Amatech, Inc.
- Chep
- Celina
- Ubeeco Packaging Solutions
- RPR Inc.
- RPP Containers
- IPL, Inc.
- Schoeller Allibert
Competitive Landscape
- Recent Developments & Impact Analysis, By Key Market Participants
- Company Categorization
- Participant's Overview
- Financial Performance
- Product Benchmarking
- Company Market Positioning
- Company Market Share Analysis, 2022
- Company Heat Map Analysis
- Strategy Mapping
- Expansion
- Mergers & Acquisition
- Collaborations
- New Product Launches
- Research & Development
For more information about this report visit https://www.researchandmarkets.com/r/1aorsp
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