Dublin, May 09, 2023 (GLOBE NEWSWIRE) -- The "Returnable Packaging Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global returnable packaging market is expected to grow from $113.17 billion in 2022 to $120.58 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%.
The returnable packaging market is expected to grow to $155.58 billion in 2027 at a CAGR of 6.6%.
Increased demand for sustainable and durable packaging products is expected to propel the growth of the returnable packaging market going forward. Sustainable packaging refers to the creation and use of packaging that improves sustainability. Sustainable and durable packaging products with returnable properties help in reusing the package and reducing the burden on the environment.
For instance, according to the 2021 Global Buying Green Report, by Trivium Packaging, a Netherlands-based high-quality and infinitely recyclable metal packaging provider, a survey of end users in Europe, North America, and South America, from which 83% of consumers among younger generations showed a willingness to pay more for sustainable packaging in 2021 as compared to 70% in the previous year. Therefore, increased demand for sustainable and durable packaging products is driving the growth of the returnable packaging market.
Advanced technologies are a key trend gaining popularity in the returnable packaging market. Major players operating in the returnable packaging market are developing advanced technologies to sustain their position in the returnable packaging market. For instance, in March 2022, Oakland International, a UK-based logistics and packaging company, launched OakRA, a sustainable, fully reusable, temperature-controlled packaging unit for home and business direct delivery that uses RFID technology to keep track of the boxes and ensure they are reused.
The OakRA's goal is to replace enormous amounts of trash packing and insulation with a new method of shipping things that is more durable, secure, and can be used endlessly. Its unique features include being sturdy and lightweight. It offers great thermal insulation and significant impact resistance. The water-resistant substance of the boxes, along with their tamper-evident banding, make them perfect for chilled, frozen, or ambient vegetables.
In March 2022, IFCO Japan, a Japan-based supplier of reusable packaging acquired RPC pooling services business of SANKO LEASE CO. LTD. With this acquisition, IFCO Japan will advance sustainability and its circular economy-based business strategy by emerging as Japan's top supplier of reusable packaging containers (RPCs) for fresh grocery products. SANKO LEASE CO. LTD is a Japan-based company engaged in reusable packaging containers pooling services business.
Europe was the largest region in the returnable packaging market in 2022. The regions covered in the returnable packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the returnable packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Executive Summary:
Returnable Packaging Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on returnable packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
1) By Product: Pallets; Crates; IBCs; Drums and Barrels; Dunnage; Other Products
2) By Material: Plastic; Metal; Wood
3) By End User: Food and Beverage; Automotive; Consumer Durables; Healthcare; Other End Users
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $120.58 billion |
| Forecasted Market Value (USD) by 2027 | $155.58 billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Returnable Packaging Market Characteristics
3. Returnable Packaging Market Trends And Strategies
4. Returnable Packaging Market - Macro Economic Scenario
5. Returnable Packaging Market Size And Growth
6. Returnable Packaging Market Segmentation
7. Returnable Packaging Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Nefab AB
- Amatech Inc.
- Schoeller Allibert Group BV
- ORBIS Corporation
- PPS Midlands Limited
- Tri-Pack Packaging Systems Limited
- CHEP
- Celina Industries
- Brambles Ltd.
- Vetropack Holding SA
- IPL Plastic Inc.
- Menasha Corporation
- Schutz GmbH & Co KGaA
- DS Smith plc
- Rehrig Pacific Company Inc
For more information about this report visit https://www.researchandmarkets.com/r/qm63sy
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