Press release
Global Reusable Packaging Market Outlook: Key Insights, Trends and Opportunities 2024
Reusable packaging refers to containers, pallets, dunnage, and other packing materials intended to be reused multiple times for transportation, storage, and handling of goods through their lifecycle. Reusable materials include plastic containers, pallets, bulk containers with protective dunnage as well as drums crates; this market has experienced consistent growth due to factors like increasing sustainability concerns as well as advances in reusable solutions being offered and growth within industries like automotive, food & beverages and consumer durables among others.
Reusable packaging helps reduce packaging waste and promotes a circular economy. Several companies are now providing innovative reusable solutions such as foldable and nestable containers, smart pallets equipped with RFID tags, protective dunnage inserts, and dunnage bags that offer environmental benefits and cost savings through reuse and shared use. Reusable packaging may require higher upfront investments but in the long run, can offer considerable environmental and cost savings benefits through reuse and shared use.
The Reusable Packaging Market size is expected to reach 191 Bn by 2033, up from its current value of 110 Bn in 2022, growing at an annual compound growth rate (CAGR) of 5.7% from 2023-2033.
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Key Takeaways
• Due to sustainability trends, steady growth is anticipated in the reusable packaging market.
• Plastics accounted for the highest market share; driven by increasing use of durable containers and pallets.
• Food and beverage industries are among the primary consumers of reusable packaging solutions.
• Asia Pacific to experience rapid economic expansion led by China and India
• RFID and blockchain tracking technologies are fueling reusable packaging trends.
• Logistics and transportation industries are fuelling an unprecedented rise in plastic crate and pallet use.
• Mergers & acquisitions on the rise as companies seek vertical integration
• Reusable packaging supports the circular economy by reducing waste.
Regional Snapshot
North America holds the largest share of the reusable packaging market. Retail, consumer goods, and food & beverage industries have led to increased demand for plastic containers, pallets, and dunnage used for pooled assets; as well as advanced tracking technologies improving pooling/circulation of assets. Rising environmental awareness further encourages the adoption of reusable packaging.
Europe holds the second-highest market share for reusable packaging worldwide. Strict regulations regarding waste reduction and circular economy support this segment of the industry, with leading industries like automotive, food & beverages, and pharmaceuticals driving demand. Pooling providers and standardization efforts further boost growth.
Asia Pacific is projected to experience the fastest compound annual compound growth from 2022-2030. Rapid industrialization, manufacturing output growth, and rising middle-class spending power all provide opportunities across industries; China and India may experience especially fast expansion due to their large consumer bases and government environmental policies.
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Market Segmentation
By Type
• Pallets
• Rigid Containers, Crates, Totes, Trays & Bins
• Plastic-corrugated Boxes, Panels, and Sleeves
• Reusable Plastic Containers (RPCs)
• Tanks, Drums, and Barrels
• Intermediate Bulk Containers (IBCs)
• Dunnage & Cargo Protection
• Others
By Application
• Food and Beverage
• Automotive
• FMCG
• Retail and Wholesale
• Industrial
• Healthcare and Pharma
• Others
Key Players
• Brambles
• ORBIS
• IFCO
• Schoeller Allibert
• DS Smith
• Schutz
• Tosca
• Cabka Group
• Rehrig Pacific Company
• Craemer Group
• IPL Plastics
• Monoflo International
• Greystone Logistics
• HOREN Group
• Mpact Limited
• Buckhorn
• RPP Containers
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Recent Developments
• IFCO Systems acquired Tosca's RPC division (2021).
• Brambles has recently unveiled connected reusable packaging with Internet of Things sensors (2022).
• Schoeller Allibert and Log-hub joined forces in 2023 to expand reusable transit packaging options (2023).
• Protect GmbH invested in an advanced IBC production facility in the US (2023).
Key Questions
What are the key drivers behind reusable packaging market growth?
A. Key drivers include sustainability trends, advancement of solutions, regulatory policies, end-use industry growth, and pooling/circular models.
What industry holds the largest share of the reusable packaging market?
A. Food & beverage industries account for the highest share of the reusable packaging market.
What are the essential reusable packaging solutions?
A. Key solutions include plastic containers, pallets, bulk containers with protective dunnage, and drums/crates as key solutions.
What are the latest trends in the reusable packaging industry?
A. Key trends include the creation of smart reusable packaging featuring sensors, RFID, and blockchain technologies; as well as an increase in adoption of reusable transit packaging.
Which region is projected to experience the fastest rate of economic expansion?
A. Asia Pacific is projected to experience compound annual compound annual growth during its forecast period.
Who are the key players in the reusable packaging market?
A. Key players include IFCO Systems, Rehrig Pacific Company, Brambles, Schoeller Allibert AG, DS Smith, and Myers Industries.
What impact does reusable packaging have on the environment?
A. Reusable packaging helps reduce waste, energy use, and greenhouse emissions across supply chains promoting circularity and sustainability.
Related Report:
MMLV Retrovirus Packaging Service Market: https://theresearchdeck.com/report/mmlv-retrovirus-packaging-service-market/
Mono Material Barrier Packaging Market: https://theresearchdeck.com/report/mono-material-barrier-packaging-market/
Contact-us
Website: https://theresearchdeck.com/
Phone: +1 (415) 315-9432
Phone: +91 86698 89536
Email: inquiry@wiredrelease.com
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