Returnable Transport Packaging (RTP) Market: An Overview
The global returnable transport packaging (RTP) market is expected to register a healthy growth during 2018-2026. Returnable transport packaging includes mediums such as containers and pallets, which transport goods back and forth between vendors and customers. Since these are not passed on to the customers, returnable transport packaging (RTP) market becomes a source of service for most vendors around the world.
The scope of the returnable transport packaging (RTP) market report consists of materials including containers, crates, drums, crates, protective dunnage, etc. Additionally, it also includes metal materials such as bulk bins, drums, pallets, roll cages, and many others. It also includes wood RTM products. Additionally, there are several types of products covered in this market report including plastic trays, covers stillage, bulk bins, etc. The report on returnable transport packaging (RTP) market also covers chemical, pharmaceutical, and textile industries.
Returnable Transport Packaging (RTP) Market: Notable Developments
- Goodpack, a packaging and transport provider has announced a new product in collaboration with Ceva Logistics. The product is a returnable container for tyre movements. The product is collapsible and allows multiple stacking. The product is expected to be launched in Asia, Australia, and North America very soon.
- Singapore will soon roll out its packaging reporting framework in 2020. The Singapore government will mandate businesses to file an annual report on their use of various packaging. It would include the types and amounts of packaging businesses they use. This policy is in line with the government’s larger initiatives to recycle, reuse, and reduce the use of packaging material.
Returnable Transport Packaging (RTP) Market: Key Trends
Growing demand in food products and the rise of giants in e-commerce is driving the growth of the returnable transport packaging market. These businesses are also restrained to a certain extent due to growing demand for sustainability in packaging and usage of materials. Additionally, the high costs of raw materials, inefficiency and subsequent wastage during transportation are challenges for the industry. Hence, the key players in the returnable transport packaging (RTP) market are investing heavy resources in innovation to bring in product innovations and more efficiency. This is expected to result in growth for the returnable transport packaging (RTP) market in the near future.
Additionally, the market is also expected to receive a boost from the automotive sector. The automotive sector similar to the retail sector relies heavily on consistent delivery of goods through returnable transport mediums. Additionally, heavy packaging materials used in the industry provide the much needed strength, low maintenance, and reduced footprint for the returnable transport packaging market. The returnable transport packaging methods are providing sustainable supply chains which are providing a streamlined flow of goods and materials for the automotive industry.
Returnable Transport Packaging (RTP) Market: Regional Outlook
The returnable transport packaging (RTP) market report is divided into main regions including North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among these, the North America regional market is expected to gain considerable as main regional entities such as the US pose an extremely vast and challenging landscape for transport. Additionally, the market is one of the largest in the world and has held the dominant share of revenues in recent times. Hence, the returnable transport packaging (RTP) market is expected to witness several new opportunities as automotive industry and e-commerce sector spreads in the region making way for more growth.
Asia Pacific region is expected to register the highest CAGR growth during the forecast period. Rising auto sales, growing infrastructural development, and increasing disposable income in the region are expected to drive growth for the global returnable transport packaging market.
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
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- 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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.