The Returnable Packaging Market is projected to grow from USD 37.9 billion in 2018 to USD 51.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.2% from 2018 to 2023. The rising demand for returnable packaging from various end-use industries such as automotive, consumer durables, and food & beverages is expected to drive the growth of the returnable packaging market across the globe during the forecast period.
Browse 78 market data Tables and 38 Figures spread through 135 Pages and in-depth TOC on "Returnable Packaging Market “.
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Brambles (Australia), Schoeller Allibert (Netherlands), Menasha Corporation (US), DS Smith (UK), Myers Industries (US), Nefab Group (Sweden), Rehrig Pacific Company (US), IPL Plastics (Ireland), Schutz GmbH & Co. KGaA (Germany), and Vetropack Holding (Switzerland) are the leading players operating in the returnable packaging market. These players have adopted numerous growth strategies such as expansions, investments, divestments, new product developments, acquisitions, partnerships, agreements, and joint ventures to increase their market shares and enhance their product portfolios.
Brambles is one of the key players in the returnable packaging market. It offers products and services through 4 business segments, namely, CHEP Americas, CHEP EMEA, CHEP Asia Pacific, and IFCO. The company has 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 terms of value and volume, the automotive segment is estimated to lead the returnable packaging market in 2018.
The global automotive industry is characterized by the presence of complex supply chains and networks that require several processes to be integrated to enable the inbound and outbound flow of returnable packaging. Currently, several Original Equipment Manufacturers (OEMs) are using returnable packaging to enhance the efficiency of their operations by reducing the lead time required for 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. 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.
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Schoeller Allibert is a global packaging manufacturer, which offers returnable transit packaging. The company offers a wide range of tailor-made and standard returnable packaging solutions through its 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 Intermediate Bulk Containers (IBCs).
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