NEWARK, Del, Dec. 07, 2023 (GLOBE NEWSWIRE) -- As per the latest report, North America's returnable transport packaging (RTP) Industry revenue is projected to expand from US$ 28.53 billion in 2023 to US$ 42.11 billion by 2033. Over the assessment period, returnable transport packaging sales in North America are set to soar at a CAGR of 4.0%.
The RTP business in North America is set to experience significant growth. This is due to the robust expansion of the food & beverage and pharmaceutical sectors and the strong presence of key manufacturers such as Grief Inc., Berry Global, and SCHÜTZ Container Systems, Inc.
The growing demand for sustainable packaging is anticipated to bolster sales of returnable transport packaging solutions. This is because such packaging solutions can be used multiple times.
The competitive environment in North America has spurred an increase in the production of several types of RTPs. Key manufacturers are actively expanding their production capacities to meet the rising demand for sustainable and efficient packaging solutions. This expansion includes the establishment of new production facilities and the expansion of existing ones.
Request for a sample of this research report: https://www.futuremarketinsights.com/reports/sample/rep-gb-18202
For instance, in January 2023, SCHÜTZ announced the inauguration of a new production line in Houston for the production of open-head steel drums. Similarly, in April 2023, Kamps Inc. announced the opening of a new pallet facility in San Antonio to expand its pallet manufacturing capabilities.
Manufacturers such as Schaefer Plastics and Mauser Packaging are not only scaling up their production but also focusing on enhancing product features in tandem with ongoing requirements. They are investing in research and development to introduce advanced and environmentally friendly RTP solutions in North America.
Key Takeaways from the Report-
- North America’s RTP business revenue is expected to total US$ 42.11 billion by 2033.
- Sales of RTP solutions in North America are predicted to rise at a 4.0% CAGR through 2033.
- Based on product type, the pallet segment is expected to thrive at a 4.2% CAGR.
- By end-use, the food & beverages category is anticipated to expand at a 3.2% CAGR.
- Demand for returnable transport packaging in Canada is expected to increase at a 6.0% CAGR through 2033.
- The United States is set to experience a CAGR of 3.7% between 2023 and 2033.
“Returnable transport packaging solutions encompass the use of durable and reusable packaging solutions such as containers, pallet boxes, plastic pallets, and drums. Growing adoption of these sustainable packaging solutions is expected to boost sales across North America through 2033,” says Ismail Sutaria, Principal consultant at Future Market Insights
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-18202
RTP Manufacturers Focus on Offering Customized Solutions to Gain Profits
The landscape of the e-commerce sector is swiftly transforming across North America due to the increasing accessibility of the internet and mobile phones. Conventional retail enterprises are transitioning to online sales, thereby extending their consumer outreach and simultaneously ensuring their competitive edge.
E-commerce sales are growing rapidly every year across the region. For instance, as per the United States Department of Commerce, e-commerce sales in the second quarter of 2023 increased by around 7% compared to the first quarter. The data from the International Trade Administration revealed that the total number of online shoppers in Canada is poised to rise by 3% from 2022 and is expected to reach around 78% in 2025.
The thriving landscape of e-commerce in North America is significantly driving the growth of the returnable transport packaging business. It presents a lucrative opportunity for the manufacturers to further expand their reach and customer base.
The scalability and adaptability of RTP are critical attributes for e-commerce since companies experience varying order volumes and product sizes. RTP manufacturers can provide customized products to accommodate such orders.
Competitive Landscape
- Grief, Inc.
- Mauser Packaging Solutions
- Brambles Limited
- SCHUTZ GmbH & Co. DS Smith plc
- Scholler Allibert
- THIELMAANN
- Synder Industries LLC
- M &M Industries, Inc
- GELG USA
- Time Technoplast Ltd
- Skolnik Industries, Inc
- ILC Dover
- LP
- PolyPail Inc
- Specialty Crate Factory
- others
are prominent manufacturers of returnable transport packaging solutions in North America. The Tier 1 players hold a 20% to 30% share in the North America returnable transport packaging business.
Leading RTP companies are implementing different strategies to boost their revenue and expand their customer base. These include new product launches, acquisitions, alliances, joint ventures, partnerships, and collaborations.
For instance,
- In December 2022, Greif Inc. acquired Lee Containers Corporation Inc.
Purchase Now to Access Segment-specific Information, Uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/18202
Key Segmentations:
By Product Type:
- Drums
- Plastic Drums
- Metal Drums
- Rigid IBCs
- New IBCs
- Reconditioned IBCs
- Rebottled IBCs
- Washed IBCs
- Crates
- Plastic Crates
- Foldable
- Stackable
- Nestable
- Wooden Crates
- Metal Crates
- Plastic Crates
- Pails
- Plastic Pails
- Metal Pails
- Jerry Cans
- Plastic Jerry Cans
- Metal Jerry Cans
- Pallet Boxes
- Wooden Pallet Box
- Plastic Pallet Box
- Metal Pallet Box
- Pallet
- Wooden Pallet
- Plastic Pallet
- Metal Pallet
- Dunnage Bags
- Poly-woven DAB
- Kraft Paper DAB
- Vinyl DAB
- Dollies
- Metal Dollies
- Composite Dollies
By Capacity:
- Drums
- PE Drums
- Below 55 gallons (210 liters)
- Above 55 gallons
- Steel Drums
- Below 55 gallons (210 liters)
- Above 55 gallons
- PE Drums
- Rigid IBCs
- Standard
- 1,040 liters (275 US gal)
- 1,250 liters
- Customized Capabilities
- Standard
- Crates
- 18" x 18" x 12"
- 24" x 24" x 18"
- 36" x 36" x 24"
- Pails
- Up to 10 Liters
- 10-30 Liters
- Above 30 Liters
- Jerry Cans
- Up to 10 Liters
- 10 to 30 Liters
- Above 30 Liters
- Pallet Boxes
- Up to 100 Kgs
- Above 100 Kgs
- Pallet
- 48" X 40"
- 42” X 42”
- 48” X 48”
- Crates
- 48" X 40"
- 42” X 42”
- 48” X 48”
- Dollies
- Small Sized Dollies
- Medium-sized Dollies
- Large-sized Dollies
- Dunnage Bags
- 2 ply
- 4 ply
- 6 ply
- 8 ply
By End-use:
- Petrochemicals & Lubricants
- Industrial Chemicals
- Paints, Inks & Dyes
- Agricultural Chemicals
- Automotive
- Building & Construction
- Food & Beverage
- Pharmaceuticals
- Others
By Country:
- United States
- Canada
Get More Insights into North America Returnable Transport Packaging Business
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the North America returnable transport packaging business, analyzing historical demand from 2018 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections based on product type/packaging format, capacity, and end use across North America.
About the Packaging Division at Future Market Insights (FMI)
The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials and packaging machinery to packaging designs & formats, Future Market Insights (FMI) has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
Have a Look at Related Reports of the Packaging Domain:
The returnable transport packaging market is estimated to secure a valuation of US$ 27.81 billion in 2023 and is estimated to rise to US$ 45.73 billion by 2033.
The FMCG packaging market likely to hold a revenue of US$ 443.1 billion in 2023 while it is anticipated to cross a value of US$ 778.7 billion by 2033.
The global beverage packaging market is expected to be worth US$ 164 billion by 2033, exhibiting a CAGR of 4.2%. In 2023, the market is anticipated to be valued at US$ 108.7 billion.
The transport packaging market is expected to generate US$ 26.25 billion in revenue in 2022. The market is anticipated to grow at a CAGR of 5% to reach US$ 42.76 billion by 2032.
The bulk liquid transport packaging market is likely to register a CAGR of 3.5% during the forecast period. It is anticipated to reach a market share of US$ 1,959.77 million in 2033 from US$ 1,388.35 million in 2023.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
