Expanding Trade Activities to push Returnable Transport Packaging Market to grow at a 4.8% CAGR through 2031 – Future Market Insights, Inc.
Posted On July 21, 2022
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Europe returnable transport packaging market is anticipated to register a CAGR of 3.3 % between 2021 and 2031. Two companies dominate the global market for returnable transport packaging -Brambles Limited and Greif Inc., with 10% to 15% share.
NEWARK, Del., July 21, 2022 /PRNewswire/ — The global returnable transport packaging market was valued at US$ 25 Bn in 2021 and is expected to grow at a moderate CAGR of 4.8% for the forecast period of 2021-2031. Elevated trade practices, a high rate of adoption of returnable transport packaging in multiple industry verticals, and reduced packaging waste are factors that will likely boost the market over the forecast period.
Packaging solutions that can transport goods/ products more than once; implying that they can be reused, are counted in the returnable transport packaging category. This is a reverse logistic system that enhances the supply chain. Increasing demand for lightweight, protective, cost-effective, and reusable packaging solutions across various end-use industries is fueling the market expansion for returnable transport packaging.
Implementation of various logistic regulations by governments across the globe coupled with increasing trade between different countries is promoting growth for the returnable transport packaging market. Reduction in single-use packaging waste, cost-effectiveness as well as the safety and security ensured by returnable transport packaging is bolstering market growth for returnable transport packaging.
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“Rising focus on carbon footprint reduction and incorporation of smart tech tools like advanced tracing systems will augment the sales of returnable transport packaging in the market over the forecast period,” says an FMI analyst.
- In-transit damage protection solutions like dunnage airbags are expected to dominate the market over the forecast period.
- Demand in the chemical industry will supplement market growth over the assessment period.
- Asia Pacific market will present substantial growth due to high demand for cost-effective packaging solutions.
- Smart packaging solutions like IBCs or Radio Frequency Identification (RFID) microchips will gain traction in the market.
- Germany will account for 15% of the returnable transport packaging market share in Europe.
- The U.K. returnable transport packaging market is the second highest market in Europe.
- China will account for 3/5th of returnable transport packaging market in East Asia.
- India is expected to account for more than 40% of South Asia returnable transport packaging market over the forecast period.
Grief, Inc., Brambles Limited, Mauser Packaging Solutions, Schoeller Allibert Services B.V., DS Smith Plc, Time Technoplast Ltd., Berry Global, Inc., Cordstrap B.V., Schuetz GmbH & Co. KGaA., Supreme Industries Limited, PalletOne, Inc., Balmer Lawrie & Co. Ltd., Craemer Holding GmbH, Cabka Group GmbH, Bulk Lift International, Inc., Thielmann US LLC, TranPak, Inc, Rehrig Pacific Company, Inc, Myers Industries, Inc., Snyder Industries, Inc., and others are the some of the key organizations operating in the returnable transport packaging market that are profiled in the full version of the report.
Key players in the returnable transport packaging market are engaged in market expansion tactics via mergers and acquisitions. They are investing in research and development to improve their product portfolios and expand their production capacity.
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More Insights into the Returnable Transport Packaging Market Report
In its latest report, FMI offers an unbiased analysis of the global returnable transport packaging market, providing historical data from 2017 to 2021 and forecast statistics for the period 2021 to 2031. To understand the global market potential, growth, and range, the market is segmented based on product type (IBC (rigid, flexible), pallets (wood, plastic, metal), plastic crates, layer pads, drums (plastic, metal, fiber), dunnage bags), material type (metal, paper, plastic, wood), end use (building and construction, food and beverage, chemical, retail, industrial, logistics) and region.
Returnable Transport Packaging Market Regional Analysis
According to the latest report by FMI, Germany is expected to lead the Europe returnable transport packaging market over the forecast period. The country is supposed to account for 15% of returnable transport packaging market sales in the next five years. As per Germany Trade & Invest (GTAI), German chemical companies generate 27% of the total chemical production in Europe. This massive presence of the German chemical industry is fueling the returnable transport packaging market growth due to the demand for reusable containers.
Alongside Germany, the U.K. is marked as the second largest market for returnable transport packaging in Europe. The accelerated growth of the food and beverage industry in the U.K. has resulted in high demand for returnable crates and containers. This is expected to boost market growth for returnable transport packaging.
China and India are driving returnable transport packaging market growth in the Asia Pacific region. Rising trade and export activities in China are resulting in high demand for bulk packaging solutions with cost-effective and environment-friendly benefits. This is expected to foster market growth for returnable transport packaging in the region.
India is expected to account for more than 40% of returnable transport packaging market in South Asia over the assessment period. This is primarily due to the expanding logistics sector. The rapid development of the Flexible Intermediate Bulk Container (FIBC) industry is also a contributing factor.
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Returnable Transport Packaging Market Segmentation Analysis
By product type, the IBC segment, and the pallets segment are in close competition for the leading position in the market. Both segments, collectively, will account for nearly 70% of the market share in the next five years. Increasing demand for packaging solutions contributes to the growth of these two segments.
Based on material type, plastic is expected to continue its reign in the market. Paper and wood segments are expected to show substantial growth rates during the forecast period. Concerns pertaining to the environment will likely impede the plastic segment market growth and steer market expansion for the paper and wood segment.
The food and beverage sector along with the chemical industry is projected to be the leading end-users for the returnable transport packaging market.
Returnable Transport Packaging Market by Category
By Product Type:
- Plastic Crates
- Layer Pads
- Dunnage Bags
By Material Type:
By End Use Industry:
- Building & Construction
- Food & Beverage
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis & Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Coverage
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
5. Global Returnable Transport Packaging Market Demand Analysis 2013-2020 and Forecast, 2021-2031
About FMI – Packaging
The Packaging team of FMI offers a specific, reliable, and accurate analysis of the global packaging industry. This exhaustive research ranges from the material type, alcohol type, product types, retailing, and distribution of packaging materials to supply-demand-trade assessment, and relevant advancements occurring in the industry. Our research studies serve as referencing market guidelines for packaging manufacturers, channel partners, and government bodies for developing – ‘The Way Forward’.
Have a Look at Packaging Domain Related Research Reports:
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