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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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