Global market for Returnable Transport Packaging is anticipated register a CAGR of 4.8% by 2031
According to FMI, the returnable transport packaging market generated US$24 billion in revenue in 2020. Between 2021 and 2031, the whole global market is anticipated to see a CAGR of 4.8%. The top 3 suppliers will collectively account for 15-20% of the global sales of returnable transport packaging in 2021 as the demand for returnable transport packaging will increase.
Returnable transport packaging includes IBC, pallets, crates, layer pads, drums, and dunnage bags which can be re-used. This packaging solution provides safe and secure transportation of goods and helps in reducing the carbon footprint as the same product can be re-used for transportation of another goods.
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Also, it helps in refining the supply chain as it is a reverse logistic system. These factors have encouraged the use of returnable transport packaging in various industries such as building & construction, food & beverage, chemical, retail, logistics, and others.
Returnable transport packaging is available in different materials such as metal, paper, plastic, and wood as per the requirement of end users. It offers clean and organized packaging solution as it reduces and eliminates the mess created by one-way packaging such as trash, dust, and others.
It also helps in building a brand reputation as it indicates that the company is adopting sustainable packaging solutions. On the back of these factors, the demand for returnable transport packaging is anticipated to grow during the foreseeable period.
Future Market Insights forecasts that the increasing trade activities along with the rising demand for re-useable and sustainable packaging solutions are projected to create growth opportunities for returnable transport packaging market.
Key Takeaways from Returnable Transport Packaging Market
- By product type, the IBC segment followed by the pallets segment is anticipated to remain the most lucrative, accounting for approximately 70% of the market share in the next five years.
- Based on material type, the cost-effective and lightweight feature will aid dominance of the plastic segment. It will account for around 69% of the market share in 2021.
- By end use industry, food & beverage segment followed by chemical segment is estimated to remain dominant. Both industries will collectively account for nearly 80% of the market share in 2021.
- China will spearhead growth in East Asia while demand in North America will be driven by sales in the U.S.
- Germany will lead sales in Europe, trailed by the U.K.
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“The increasing trade flow across various regions will propel the demand for returnable transport packaging to reduce the cost as well as reduce carbon footprint. Implementation of stringent environmental protection regulations will encourage use of returnable transport packaging as a viable packaging solution in transportation & logistics,” says a FMI analyst.
Focus on Sustainability fuelling Demand for Returnable Transport Packaging
Returnable transport packaging is gaining popularity among the various industries due to the increasing need for safe, secure, environmentally friendly, cost-effective, and lightweight packaging solutions.
These packaging solutions can be reused which helps in addressing the sustainability concern as it helps in reducing the waste created by one-way packaging along with reducing the carbon footprint.
It helps in minimizing the use of raw materials, energy consumption, and wastage. Also, the returnable transport packaging solutions adhere to government regulations to support environmental sustainability.
The returnable transport packaging also contributes towards lowering the production cost which has created buzz among various industries. Moreover, the industries can save huge cost, which they normally incurred on disposing of packaging material. Overall, the increasing demand for sustainable, cost-effective and secure packaging solutions among the various end users will bolster the demand for returnable transport packaging.
Returnable Transport Packaging Market Competitive Landscape
- Brambles Limited, Greif, Inc.,
- Mauser Packaging Solutions,
- DS Smith Plc., and
- Schuetz GmbH & Co. KGaA
are the top players operating in the target market. Furthermore,
- Time Technoplast Ltd.,
- Schoeller Allibert Services B.V,
and others are also noticeable players in the market. The Tier 1 players in the market hold 10-15% in the global market for returnable transport packaging.