Press release
Rising Demand for Reusable Packaging Fuels 5.1% CAGR in Returnable Transport Packaging Market
Returnable Transport Packaging Market
Key factors contributing to the market's growth include the rising demand for recycled and reused goods, particularly in response to growing global concerns over waste reduction. RTP solutions, such as dunnage bags, intermediate bulk containers (IBCs), layer pads, plastic crates, and drums, are gaining traction across various industries, including retail, food & beverages, logistics, chemicals, and building & construction.
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As transportation and trading activities expand worldwide, waste management challenges have intensified, spurring the adoption of returnable transport packaging. Manufacturers and industry leaders are focusing on minimizing single-use packaging waste, a move expected to significantly boost the RTP market in the coming years.
Furthermore, government initiatives and regulatory support, along with the strategic efforts of key industry players, are fostering the market's growth. Enhanced logistics regulations, along with the demand for sustainable practices, are reshaping the packaging landscape.
"With the rising need for lightweight, eco-friendly packaging solutions, returnable transport packaging is becoming the go-to choice for businesses seeking to reduce costs and improve sustainability," said a market analyst.
Returnable Transport Packaging Market - Key Takeaways
• Growing demand for lightweight, sustainable, and eco-friendly packaging is driving the sales of returnable transport packaging.
• The global returnable transport packaging market is expected to grow at a 5.1% CAGR during the forecast period, up from a historical 3.2% CAGR (2018-2022).
• Germany is projected to contribute approximately 15% of the global sales of returnable transport packaging over the next five years.
• The United Kingdom is the second-largest market in Europe, with the sector estimated to reach a valuation of USD 827 million in 2021.
• China, as a major exporter with USD 2,498 billion in exports in 2019, continues to be a key player in the global returnable transport packaging market.
• India is expected to capture about 40% of the South Asia market by the end of 2021.
Competitive Landscape
The essential players are playing crucial roles in the global market by investing millions of dollars in research and development activities. These players adopt innovative technology to produce cost-effective products for end-use industries. The prominent players upsurge the market through their marketing methodologies, including mergers, acquisitions, partnerships, collaborations, and agreements.
Other Prominent Players in the Market are
• Grief, Inc.
• Brambles Limited
• Mauser Packaging Solutions
• Schoeller Allibert Services B.V.
• DS Smith Plc
• Time Technoplast Ltd.
• Berry Global, Inc.
• Cordstrap B.V.
• Schuetz GmbH & Co. KGaA.
• Supreme Industries Limited
• PalletOne, Inc
• Balmer Lawrie & Co. Ltd.
• Craemer Holding GmbH
• Cabka Group GmbH
• Bulk Lift International, Inc
• Thielmann US LLC
• TranPak, Inc
• Rehrig Pacific Company, Inc
• Myers Industries, Inc.
• Snyder Industries, Inc.
Recent Developments in the Global Market are:
• In September 2021, Mauser Packaging Solutions announced the launch of a space-efficient IBC solution with a new composite pallet designed helping in maximizing the volume and loading efficiency of IBC.
• In September 2021, Mauser Packaging Solutions announced the expansion of its IBC and plastic drum production capabilities in its Turkey facility, which will help them to serve the growing industrial demand in the market.
• In April 2020, Grief, Inc. announced the acquisition of Centurion Container LLC., which will help them to expand their IBC reconditioning network in North America along with helping them to provide their customers with reusable and sustainable packaging solutions.
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Returnable Transport Packaging Market by Category
By Product Type:
• IBC
• Pallets
• Plastic Crates
• Drum
• Dunnage Bags
By Material Type:
• Metal
• Plastic
• Paper
• Wood
By End Use Industry:
• Building & Construction
• Food & Beverage
• Chemical
• Retail
• Industrial
• Logistics
By Region:
• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa (MEA)
Have a Look at Another Post on the Packaging Domain:
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Paper Edge Protectors Market - https://www.fmiblog.com/2024/09/11/paper-edge-protectors-market-is-expected-to-reach-a-high-valuation-of-usd-4768-4-million-by-2034-fmi/
Plastic Jar Packaging Market - https://www.fmiblog.com/2024/09/11/plastic-jar-packaging-market-is-expected-to-see-a-growth-of-2-7-cagr-by-2033-future-market-insights-inc/
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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