Reverse Logistics Market Valued at $635.6 Billion in 2020, Expected to Reach $958.3 Billion by 2028, with a CAGR of 5.6% (2021-2028)

According to a recent report published by Allied Market Research, titled, "Reverse Logistics Market by Return Type, End-User, and Service: Global Opportunity Analysis and Industry Forecast, 2021-2028," 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐫𝐞𝐯𝐞𝐫𝐬𝐞 𝐥𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟔𝟑𝟓.𝟔 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟎, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟗𝟓𝟖.𝟑 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟐𝟖, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟔% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟐𝟖.

In terms of revenue, Asia-Pacific leads the market, followed by North America, Europe, and LAMEA. Due to the booming e-commerce industry in emerging economies, infrastructural development, and increased adoption of outsourced logistics services in the region, China dominated the global reverse logistics market share in 2020 and is expected to grow at a significant rate during the forecast period. In emerging and industrialized economies, reverse logistics services are increasingly being used to expedite the movement of returned and damaged items back to the producer. Reverse logistics services are used by the manufacturers to recapture value after a product has been sold or at the end of its lifecycle.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/5191

By return type, the reverse logistics market is categorized into the recalls, commercial returns and B2B returns, repairable returns, end of use returns, and end of life returns. The commercial returns segment accounted for the highest revenue in 2020, owing to the increase in adoption of reverse logistics by various manufacturers. The rise in demand for efficient reverse logistics services in the remote areas further increases the demand for commercial return reverse logistics segment around the world. Evolution of reverse logistics solutions such as IoT based reverse logistics services, automation of reverse logistics, and other technologies improves the agility of reverse logistics services. The rising global e-commerce market stimulates the growth of commercial returns necessitating the need for an effective reverse logistics services.

Based on end user, the reverse logistics market size is segregated into e-commerce, automotive, pharmaceutical, consumer electronic, retail, luxury goods, and reusable packaging. In 2020, the e-commerce segment dominated the end-user segment, owing to rising consumer spending in developing and developed nations, as well as increased investment in transportation infrastructure around the world.

The expansion of e-commerce industry, increased product recall due to stringent government rules for product quality in the automotive industry, and rise of tech-driven reverse logistics services and growing adoption of IoT-enabled connected devices, are expected to drive the global reverse logistics market growth over the forecast period. However, lack of control of manufacturers on reverse logistics service and uncertainty in the reverse logistics process is anticipated to hamper the growth of the market during the forecast period. Moreover, introduction of Blockchain technology and reduction in losses owing to adoption of a multi-modal system is expected to offer lucrative opportunities for the market in the future.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭- https://www.alliedmarketresearch.com/reverse-logistics-market/purchase-options

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By return type, the end of life returns segment is expected to register a significant growth during the forecast period.

By end user, the e-commerce segment is anticipated to exhibit significant growth in the near future.

By service, the replacement management segment is expected to offer significant growth during the forecast timeframe.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID impact on the reverse logistics market is unpredictable and it is expected to remain in force till the second quarter of 2021.

The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and made social distancing mandatory to contain the spread of the virus. This led to a sudden downfall in global trade which further reduced the demand for reverse logistics across the world.

Moreover, the nationwide lockdown forced the reverse logistics service providers to partially or completely shut their operations which resulted in delays in the return and replacement activities.

The rise in pharmaceutical and e-commerce sales owing to the pandemic has increased the demand for the reverse logistics market.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

𝐑𝐞𝐯𝐞𝐫𝐬𝐞 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐁𝐲 𝐑𝐞𝐭𝐮𝐫𝐧 𝐓𝐲𝐩𝐞 : End-of-life Returns Repairable Returns End-of-use Returns Commercial Returns Recalls

𝐑𝐞𝐯𝐞𝐫𝐬𝐞 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫 : E-commerce Pharmaceutical Automotive Luxury Goods Consumer Electronic Reusable Packaging Retail

𝐑𝐞𝐯𝐞𝐫𝐬𝐞 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 : Refund Management Authorization Warehousing Transportation Reselling Replacement Management Others

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/5191

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

C.H. Robinson Worldwide, Inc.
Core Logistic Private Limited
CCR Logistics Systems AG
Deutsche Post DHL Group
DB Schenker
Kintetsu World Express, Inc.
FedEx Corporation
United Parcel Service, Inc.
Safexpress Pvt. Ltd.
Yusen Logistics Co., Ltd

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐅𝐨𝐮𝐫𝐭𝐡 𝐏𝐚𝐫𝐭𝐲 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.prnewswire.com/news-releases/fourth-party-logistics-4pl-market-to-reach-111-7-billion-globally-by-2031-at-6-7-cagr-allied-market-research-301605186.html

𝐖𝐚𝐫𝐞𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐚𝐧𝐝 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.prnewswire.com/news-releases/warehousing-and-distribution-logistics-market-to-reach-25-788-7-billion-globally-by-2031-at-7-7-cagr-allied-market-research-301643062.html

𝐆𝐫𝐞𝐞𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.prnewswire.com/news-releases/green-logistics-market-to-reach-2-9-trillion-globally-by-2032-at-8-3-cagr-allied-market-research-301868790.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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