Global Returnable Packaging Market Size, Trends Analysis & Forecasts Report 2023: A $173.05 Billion Market by 2030 - Circular Economy Boost at the Forefront of Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Returnable Packaging Market Size, Share & Trends Analysis Report By Material (Plastics, Metal), By Product (Pallets, IBCs), By End-use (Food & Beverage, Healthcare), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global returnable packaging market size is expected to reach USD 173.05 billion by 2030, expanding at a CAGR of 6.0%

This growth is attributed to the expanding key end-use industries such as food & beverages, healthcare, and others. Returnable packaging products offer numerous benefits to end-use companies, in comparison to single-use or expendable packaging products.

Even though the procurement cost of returnable packaging is significantly higher than that of single-use packaging, it is reused multiple times, unlike single-use packaging, which will eliminate the recurring costs of packaging production. Besides, using similar containers for longer duration reduces the cost per trip and thus, returnable packaging proves to be cost-efficient in the longer term.

Food & beverages, pharmaceuticals, and automobiles are among the major end-use industries for returnable packaging. In these sectors, returnable packaging products such as pallets, crates, IBCs, dunnage, and others are mainly utilized for internal handling (within the manufacturing plant) of raw materials, semi-finished, and finished goods, as well as for the transportation of finished goods from the manufacturing plant to distribution and retail center. Therefore, expanding manufacturing and distribution activities within the food & beverages, pharmaceutical, and automobile industries is expected to directly fuel the demand for returnable packaging products.

Furthermore, the global pharmaceutical industry is expected to witness strong growth in the coming years. Growing aging population, especially in developed countries such as Japan, France, Germany, and others; increasing health consciousness among consumers; improving healthcare infrastructure, particularly in developing countries such as India, Brazil, and China; and high emphasis on the strengthening of the healthcare sector, coupled with the introduction of various healthcare insurance schemes by governments globally, are primarily driving the pharmaceutical industry.

Industry players are adopting several strategies, including collaborations, mergers & acquisitions, joint ventures, and partnership agreements to expand the customer base and individual market share. For instance, in September 2022, CHEP and Cabka collaborated to supply reusable containers out of recycled plastics.

These containers are customized to CHEP's performance requirements and are set to maximize the use of recycled materials, facilitating a fully circular approach.

Returnable Packaging Market Report Highlights

• Plastic has emerged as a dominating material in the market for returnable packaging with a majority share in 2022 and is expected to maintain a leading position by 2030, owing to its wide application in the food & beverage and healthcare industries, due to its unique properties such as anti-shock during shipping the products
• Pallets recorded the largest market share in 2022 in the products segment, due to their higher compatibility, structural integrity, and easy cleaning properties. However, the lack of international standards and uniformity in the sizes of pallets is expected to challenge material handling and transportation corporations
• The healthcare segment is expected to expand at a substantial CAGR of 6.9% during the forecast period. The pharmaceutical industry requires packing products like pallets, containers, FIBCs, drums, and barrels for the transportation of chemicals, medicines, drugs, and vaccines in bulk quantities
• The increasing aging population in countries like Japan, Germany, Italy, Portugal, and other European economies are expected to increase the demand for pharmaceutical products and healthcare equipment, which is expected to drive demand for returnable packaging from the healthcare end-use industry
• However, the growing adoption of single-use flexible packaging and several shortcomings of returnable packaging, such as expensiveness in comparison to other single-trip products, restrains the market growth to some extent
• New product developments, coupled with mergers & acquisitions and capacity expansions, are some of the strategies adopted by industry players. For instance, during the 2022 Plastics Caps & Closures conference in September, the Orbis Corporation showcased its reusable packaging solutions designed to address the unique requirements of the primary packaging supply chain that includes bulk containers, pallets, and boxes

Market Dynamics

Market Driver Analysis

• Expanding Key End-Use Industries
• Inherent Benefits of Returnable Packaging
• Growing Sustainable Awareness and Favorable Regulatory Scenario

Market Restraint Analysis

• Growing Adoption of Single-Use Flexible Packaging
• Shortcomings of Returnable Packaging
• Market Challenges
• Fluctuating Raw Material Prices

Business Environment Analysis: Returnable Packaging Market

• Industry Analysis: PORTER'S Five Forces Analysis
• PESTEL Analysis
• Major Deals & Strategic Alliances Analysis

Market Lineage Outlook

• Parent Market Outlook: Green Packaging Market
• Related Market Outlook: Recycled Content Packaging Market

Industry Value Chain Analysis

• Raw Material Trends
• Polyethylene (PE)
• High-Density Polyethylene (HDPE)
• Low-Density Polyethylene (LDPE)
• Polypropylene (PP)
• Wood
• Metal

Company Profiles

• Orbis Corporation
• Nefab Group
• Pps Midlands Limited
• Tri-Pack Packaging Systems Ltd.
• Amatech, Inc.
• Chep
• Celina
• Ubeeco Packaging Solutions
• RPR Inc.
• RPP Containers
• IPL, Inc.
• Schoeller Allibert

Competitive Landscape

• Recent Developments & Impact Analysis, By Key Market Participants
• Company Categorization
• Participant's Overview
• Financial Performance
• Product Benchmarking
• Company Market Positioning
• Company Market Share Analysis, 2022
• Company Heat Map Analysis
• Strategy Mapping
• Expansion
• Mergers & Acquisition
• Collaborations
• New Product Launches
• Research & Development

For more information about this report visit https://www.researchandmarkets.com/r/z7wew1

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