eturnable packaging industry was estimated at approximately USD 88.41 billion in 2022.
Returnable Packaging Industry | Forecast 2030
The economic value generated by the returnable packaging industry was estimated at approximately USD 88.41 billion in 2022. This economic output is an amalgamation of businesses that are involved in the raw material suppliers, manufacturers of returnable packaging products, distribution & supply, and application of returnable packaging.
Based on product, the market is categorized into pallets, crates, immediate bulk containers (IBCs), drums & barrels, dunnage, and others. Pallets dominated the returnable packaging market in 2022 with the highest revenue share and are expected to maintain the dominance by 2030. Materials like wood, plastics, steel, and aluminum are commonly used for manufacturing the pallets. High load handling capacity and higher handling & storage efficiencies are driving the demand for pallets in the global market.
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In addition, the IBCs segment is expected to grow at a rapid CAGR of 7.2% during the forecast period. Growing pharmaceutical and chemical sectors in developing and emerging markets like Brazil, India, and China are expected to drive the global demand for IBCs. The penetration of IBCs in the beverage industry is rapidly increasing coupled with the growing demand for sustainable and cost-effective packaging solutions from these industries for international trade is expected to drive the demand for IBCs.
Food & Beverage Returnable Packaging Market Insights
Food and beverage dominated the returnable packaging market in 2022 and is expected to maintain the lead in 2030. For the past decade, crates, trays, and pallets made of wood and plastics have been an integral part of the food & beverage sector, simplifying the storage and transport of the products.
This is due to the strong presence of key bakery, and processed meat and beverage companies such as Associated British Foods plc, Warburtons, and Nestlé in the region. The companies are continuously involved in new product developments and production aiming to meet consumer demands. Increasing production activities by such companies are expected to drive the demand for returnable packaging solutions which will affect the market positively.
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Automotive Returnable Packaging Market Insights
Returnable packaging has been an integral part of the automotive supply chain over the past decade. Packaging products like pallet crates, containers, and dunnage are primarily used to store and transport automobiles and assembly parts, body panels, and other parts. The production of automobiles around the world has been increasing since the past decade with an increasing population and higher income levels. Increasing automotive output is also expected to fuel the auto ancillary industry.
Developing countries like India, Brazil, and China have established a strong supply chain for automobiles and have significant export levels. Automotive assembly lines need bulk packaging solutions like pallets, crates, bins, and containers produced from metal and plastics. The development of electric vehicles to increase sustainability and environmental protection is also expected to increase the demand for returnable packaging solutions from the automotive industry.
Consumer Durables Returnable Packaging Market Insights
Consumer durable includes packaging solutions for televisions, washing machines, refrigerators, air conditioners, cellphones, laptops, and others. Kitchen appliances like microwave ovens, mixers, grinders, and juicers also require packaging solutions for transport. Consumer durables commonly use corrugated boxes, containers, dunnage, and other products for packaging. Demand for sustainable and environmentally friendly packaging solutions for these products is increasing owing to changing consumer preferences and government regulation. Increasing the global population coupled with a high rate of urbanization and rising income levels is expected to fuel the demand for innovative packaging solutions for consumer durables such as returnable packaging products.
Company Profiles
Competitive Insights
The returnable packaging market is highly competitive with the presence of both global and regional companies. Companies operating in the market offer a wide range of products that are available in a variety of shapes, sizes, and colors. Moreover, they offer custom packaging products to suit customer-specific requirements.
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