Market Reports | Product Report

Global Returnable Packaging Market worth $141.7 billion by 2026

Published: April 27, 2023
Author: TEXTILE VALUE CHAIN

The report Global Returnable Packaging Market by Product Type (Pallets, Crates, Intermediate Bulk Containers, Drums & Barrels, Bottles, Dunnage), Material (Plastic, Metal, Wood, Glass, Foam), End-use Industry, and Region – Global Forecast to 2026″, The market is anticipated to rise as a result of an increase in demand from various end-use industries for sustainable and long-lasting packaging goods. Products for returnable or reusable packing are constructed from strong materials including metal, plastic, and wood. They are meant for several travels and are built to endure rigorous treatment throughout the supply chain. Compared to disposable packaging, the initial cost of such items is significantly higher; but, as the number of travels increases, the cost per trip decreases, ensuring a quick return on investment.

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•  96 Market data Tables
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•  161 Pages and in-depth TOC on “Returnable Packaging Market – Global Forecast to 2026”

Some of the prominent key players are:

·      Brambles (Australia)

·      Schoeller Allibert (Netherlands)

·      Menasha Corporation (US)

·      DS Smith (UK)

·      Myers Industries (US)

Recent Developments in Global Returnable Packaging Market

• In August 2021, fab Group has introduced Fiber Flute, an eco-friendly alternative to foam. This new product is a result of the partnership between Nefab Group AB (Nefab) and Corruven Canada Inc. (Corruven). Through Nefab’s global footprint and exclusivity of Corruven’s Fiber Flute, customers can protect their products while minimizing total costs and environmental impact. Fiber Flute is different from plastic-based packaging because it is 100% fiber-based and paper-recyclable solution. Moreover, Fiber Flute can absorb more shock with less material compared to polyethylene foam, perform in both dry and humid conditions, and resist multiple drops.

• In May 2021, Nefab has expanded its footprint in the North American region. The company has added production sites in Houston (Texas), Tucson (Arizona), and Gainesville (Florida) in the US.

Pallets segment is estimated to lead the returnable packaging market.

The returnable packaging market is segmented on the basis of product type into pallets, crates, IBCs, dunnage, drums & barrels, bottles, and others, which include racks, sacks, carts, and dollies. Pallets segment is projected to lead the returnable packaging market. The segment expansion is anticipated to be aided by the increased preference for many reusable pallets over a single disposable pallet since the former is robust and practical. The 40 by 48-inch Odyssey Pallet was added to the family of rackable plastic pallets by Orbis Corporation in September 2020. In addition to its existing line of plastic pallet products, the new pallet is developed for use in heavy-duty racking applications. With its distinctive design characteristics, such as molded-in frictional elements and optional steel reinforcements, the aforementioned pallet gives stability and a strong solution that aids in large loads.

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The APAC region is projected to be the fastest-growing region in the returnable packaging market during the forecast period.

The APAC region is projected to be the fastest-growing region in the returnable packaging market during forecasted period. The main element influencing the regional market is the existence of numerous manufacturing firms in nations like China, India, Indonesia, and Vietnam. Additionally, it is anticipated that the market would increase as a result of the Asia Pacific regions quick industrialisation due to the regions low production costs. Due to the participation of nations in the Trans-Pacific Partnership Agreement, the Asia Pacific region has served as the centre for the manufacturing industry. The TPP is a free trade agreement that has improved commerce and production across nations, which has fueled the need for returnable packaging solutions throughout time. The Middle East and Africas market for returnable packaging is anticipated to expand significantly over the next several years as attention shifts from the oil industry to the industrial sector.

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