Press release
Efficiency Redefined: Analyzing the Advantages of Returnable Packaging in Modern Supply Chains
Returnable Packaging Market
The returnable packaging market size is expected to see strong growth in the next few years. It will grow to $168.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to pharmaceutical and healthcare adoption, rising consumer awareness, focus on hygiene and safety, economic considerations, demand for premium and high-value products, expansion of rental models. Major trends in the forecast period include expansion of closed-loop supply chains, collaborative initiatives in packaging consortia, advancements in returnable packaging design, integration of rfid and tracking technologies, consumer demand for sustainable packaging solutions.
Market Overview -
Returnable packaging refers to robust packaging designed to be reused several times in a closed-loop system. It can be returned for cleaning or refilling. Returnable packaging is used to transport goods around the supply chain in a safe and effective manner.
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Growing Demand For Eco-Friendly And Durable Solutions
Increased demand for sustainable and durable packaging products is expected to propel the growth of the returnable packaging market going forward. Sustainable packaging refers to the creation and use of packaging that improves sustainability. Sustainable and durable packaging products with returnable properties help in reusing the package and reducing the burden on the environment. For instance, according to the 2021 Global Buying Green Report, by Trivium Packaging, a Netherlands-based high-quality and infinitely recyclable metal packaging provider, a survey of end users in Europe, North America, and South America, from which 83% of consumers among younger generations showed a willingness to pay more for sustainable packaging in 2021 as compared to 70% in the previous year. Therefore, increased demand for sustainable and durable packaging products is driving the growth of the returnable packaging market.
Competitive Landscape -
Major companies operating in the returnable packaging market report are Nefab AB, Amatech Inc., Brambles Ltd., Celina Industries LLC, CHEP Inc., DS Smith plc, IPL Plastic Inc., Menasha Corporation, ORBIS Corporation, PPS Midlands Limited, Rehrig Pacific Company Inc., Schoeller Allibert Group BV, Schütz GmbH & Co KGaA, Tri-Pack Packaging Systems Limited, Vetropack Holding SA, Loadhog Limited, Celina Projects Private Limited, Myers Industries Inc., RPR Inc., UBEECO Packaging Solutions, Atlas Box & Crating Co., Buckhorn Inc., Craemer Holding GmbH, Econovus Packaging Pvt. Ltd., LEAP India Pvt. Ltd., Linpac Group Ltd., Loadhog Limited, Monoflo International Inc., Plastic Packaging Solutions Midlands & East Ltd., Polymer Logistics Inc., Reusable Transport Packaging, Schaefer Systems International Pvt. Ltd., SSI Schaefer Limited, Tri-pack Packaging Systems Ltd.
Advancements In Returnable Packaging Technologies Redefine The Market Landscape
Advanced technologies are a key trend gaining popularity in the returnable packaging market. Major players operating in the returnable packaging market are developing advanced technologies to sustain their position in the returnable packaging market. For instance, in March 2022, Oakland International, a UK-based logistics and packaging company, launched OakRA, a sustainable, fully reusable, temperature-controlled packaging unit for home and business direct delivery that uses RFID technology to keep track of the boxes and ensure they are reused. The OakRA's goal is to replace enormous amounts of trash packing and insulation with a new method of shipping things that is more durable, secure, and can be used endlessly. Its unique features include being sturdy and lightweight. It offers great thermal insulation and significant impact resistance. The water-resistant substance of the boxes, along with their tamper-evident banding, make them perfect for chilled, frozen, or ambient vegetables.
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Key Segments -
The returnable packaging market covered in this report is segmented -
1) By Product: Pallets, Crates, IBCs, Drums and Barrels, Dunnage, Other Products
2) By Material: Plastic, Metal, Wood
3) By End User: Food and Beverage, Automotive, Consumer Durables, Healthcare, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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