Returnable packaging Systems Market: Overview
Improvisations in material handling and logistics over time has brought sustainability in the mainstream, companies are increasingly focusing on implementing returnable packaging, so as to reduce transportation and handling losses and avoid repurchasing of disposable packaging. Within close loop supplies, manufacturers usually adopts ‘milk run’ to supply their products, returnable packaging systems market forms crucial part of such supply chain, as manufacturers/suppliers do not need to invest again in disposable packaging. Returnable packaging proves beneficial and cost effective for businesses where timely and safe delivery of products is of utter importance. According to Reusable Packaging Association, the returnable packaging system market witnessed annual growth between 8–10% over past few years. The returnable packages are available in form of reusable pallets, hand-held containers, racks, bulk containers, etc. returnable packaging systems has a longer life span as these are made from durable materials such as plastic, wood and metals. Returnable packaging systems offer other distinctive features such as appealing aesthetics, easier to clean and stronger than disposable packaging systems. Despite many operational benefits, returnable packaging systems may not be desired by every supply system due to its capital intensive nature. Returnable packaging systems are extensively used for FMCG and are significantly increasing their penetration in pharmaceutical and healthcare industries. Besides food and pharmaceutical industries returnable packaging systems find their application in automotive and electronics industry.
Returnable Packaging Systems Market: Drivers and Restraints
The growth of returnable packaging systems market is driven by demands from food & beverage, consumer good, pharmaceuticals and automotive industry. Due to its durability and robust performance, returnable packaging is preferred in various end use applications which in turn surges demand for returnable packaging systems markets. Rising level of wages in developing countries is expected to significantly increase consumer spending which in turn will support growth of the returnable packaging systems market. Substantially increasing global vehicle production is also expected to support the growth of the market.
However, though returnable packaging system reduces packaging purchase and disposal costs but at the same time logistics cost is increased due to need to control return cycle. Hence higher cost is a factor which could hamper growth of the market. Further, existing economic uncertainty in some countries of Asia and Latin America could hamper growth of the market.
Returnable Packaging Systems Market: Segmentation
The global returnable packaging systems market is segmented as follows:
On the basis of product type:
- Bulk Containers
- Hand-held containers
- Reusable pallets & totes
- Protective Dunnage
- Fabric Dunnage
- Steel Racks
- Others (sleeve systems, carts & dollies, etc.)
On the basis of material type:
On the basis of end-use industry:
- Food & beverage
- Pharmaceutical & healthcare
- Consumer electronics
Returnable Packaging Systems Market: Region-wise Outlook
The production and demand trends in the global returnable packaging systems market varies from region to region. With highest manufacturing output across the globe, Asia pacific is expected to be the largest market for returnable packaging systems by volume. Further, rapidly growing industrialization in major countries in the region will boost revenue of the returnable packaging systems market. North America and Europe are expected to be next big market for returnable packaging systems. Demand in these regions are dominated from food and beverage and automotive industries. Middle East & Africa is expected to be high growth market due to demand rising from food & beverage, consumer goods in Middle East and manufacturing sector in Africa. Latin America is also expected to create significant opportunity in returnable packaging systems market, however high inflation rates in countries such as Venezuela and Argentina could hamper the demand for returnable packaging for consumer goods.
Returnable Packaging Systems Market: Key Players
The Key players identified in the global Returnable packaging Systems Market are:
- Returnable Packaging Resource Inc.
- Nefab Group
- Tri-Pack Plastics Ltd
- Plastic Packaging Solutions Midlands & East Ltd.
- Amatech Inc.
- Integra Packaging
- Celina Industries
- Lamar Packaging Systems
- ORBIS Corporation
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.