(MENAFN- GlobeNewsWire - Nasdaq) The global returnable transport packaging market size is calculated at USD 9,900.67 million in 2024 and is expected to reach around USD 16,570.80 million by 2032, growing at a CAGR of 6.6% from 2023 to 2032.
Ottawa, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The global returnable transport packaging market size was valued at USD 9,322.66 million in 2023 and is predicted to hit around USD 14,487.12 million by 2030, a study published by Towards Packaging a sister firm of Precedence Statistics.
The returnable transport packaging market is experiencing significant growth due to rising concerns about sustainability, increasing demand for cost-effective packaging solutions, and the growing emphasis on reducing environmental waste.
Key takeaways
North America's pre-eminence in returnable transport packaging. Ascendance of Asia Pacific in returnable transport packaging. Plastic's persistent advancement in the Returnable Transport Packaging sector. Unlocking the potential of pallets foundation of returnable transport packaging. Industrial supply chain gains from returnable transport packaging solutions.
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Returnable transport packaging refers to durable containers and packaging solutions designed for repeated use in the transportation of goods. These can include items like plastic crates, pallets, and intermediate bulk containers. The main goal of RTP is to reduce waste and cost by allowing businesses to reuse these packaging materials multiple times, unlike traditional single-use options. The returnable transport packaging market is growing rapidly. This growth is driven by increasing awareness about environmental sustainability and cost-efficiency in supply chains. Companies are increasingly adopting returnable transport packaging to reduce their carbon footprint and operational costs. This market encompasses various industries, including automotive, food and beverage, pharmaceuticals, and retail, all seeking to implement more sustainable and economical packaging solutions.
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Returnable Transport Packaging Market at a Glance
The returnable transport packaging market is witnessing significant growth, driven by the increasing need for sustainable and cost-effective packaging solutions. This growth is largely due to the rising awareness about environmental sustainability and the cost benefits of using durable, reusable packaging materials .
Returnable transport packaging market involves the use of robust packaging products like pallets, containers, crates, and intermediate bulk containers that can be reused multiple times, making them a favorable choice for various industries such as automotive, food and beverages, consumer goods, and industrial sectors. These solutions not only help in reducing waste but also in lowering the overall logistics and operational costs by minimizing the need for single-use packaging .
The returnable transport packaging market is set to expand significantly, propelled by the growing emphasis on sustainability, cost-efficiency, and the need for robust packaging solutions across various industries. The market dynamics are further influenced by continuous innovations and the active participation of key players in developing and promoting advanced returnable transport packaging market products.
High Consumer Income, to Drive the Market's Expansion
As consumer incomes rise, there's an increasing demand for sustainable products and packaging. Higher income levels mean people are more willing to invest in eco-friendly options, even if they come at a higher upfront cost. Returnable transport packaging returnable transport packaging is seen as a more environmentally friendly option compared to traditional disposable packaging, making it an attractive choice for these conscious consumers.
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One recent development in this sector is the commitment by The Coca-Cola Company to increase its use of returnable packaging. In November 2022, Coca-Cola announced its plans to significantly expand the use of returnable glass bottles. By 2030, the company aims to supply 25% of its beverages in returnable glass via classic fountain or Coca-Cola Freestyle devices. This move not only aligns with the rising consumer demand for sustainable options but also showcases a major corporation leading by example in the returnable transport packaging sector.
Another example is IFCO's introduction of the Dora plastic pallet in January 2024. Dora is a cutting-edge returnable plastic pallet designed for compatibility with existing fresh food supply chain operations. This innovation reflects the industry's shift towards more sustainable and efficient packaging solutions, driven by consumer preferences and environmental regulations.
Focus on Sustainability to Promote the Market's Expansion
There is a growing global focus on sustainability, and returnable packaging is emerging as a key solution to reduce waste and conserve resources. As the world grapples with the environmental impact of single-use packaging, returnable transport packaging offers a viable alternative that can be reused multiple times, thereby minimizing waste and reducing the need for raw materials.
Governments worldwide are implementing regulations to encourage the use of sustainable packaging solutions. For instance, in the European Union, the Single-Use Plastics Directive aims to reduce the impact of certain plastic products on the environment by promoting reusable alternatives. This legislative push is prompting businesses to adopt returnable packaging solutions to comply with the regulations and avoid potential fines.
In North America, California's SB-54 law, also known as the Plastic Pollution Reduction Act, mandates significant reductions in single-use plastics and encourages the use of sustainable packaging. Such regulations are pushing companies to explore and invest in returnable transport packaging systems, which are seen as an eco-friendlier option.
Recent developments in the sector highlight the growing commitment to sustainability. For example, in December 2021, Arcus Infrastructure Partners acquired HB returnable transport solutions, a leading provider of rental, cleaning, and integrated logistics services for returnable transport products. This acquisition underscores the increasing value and demand for sustainable packaging solutions in the logistics industry.
High Initial Investment Costs, A Restraint for the Industry
One of the significant challenges facing the returnable transport packaging market is the high initial investment costs associated with these sustainable packaging solutions. Unlike disposable packaging, returnable options such as pallets, crates, and containers require substantial upfront capital. This financial barrier can be particularly daunting for small and medium-sized enterprises (SMEs), which may struggle to allocate the necessary funds despite the potential for long-term cost savings.
The primary reason for the high initial investment is the durability and quality of returnable packaging. These products are designed to withstand multiple uses and extended periods of wear and tear, which necessitates the use of robust materials and advanced manufacturing techniques. Consequently, the initial costs are significantly higher than those of single-use packaging, which is typically made from cheaper, less durable materials.
In November 2022, The Coca-Cola Company announced its plan to expand the use of returnable glass bottles. By implementing a returnable packaging system, Coca-Cola aims to achieve long-term cost savings and environmental benefits. However, the transition required a substantial initial investment in the infrastructure needed to collect, clean, and redistribute the bottles. In January 2024, IFCO introduced Dora, a returnable plastic pallet specifically designed to be compatible with existing supply chain operations. By integrating with current systems, businesses can adopt Dora with minimal additional investment, making it a more attractive option for companies hesitant about high upfront costs.
Stricter Environmental Regulations, An Upcoming Opportunity for the Market
Governments worldwide are implementing stricter environmental regulations aimed at reducing packaging waste and promoting sustainability. These regulatory changes are creating a favorable environment for the adoption of returnable transport packaging solutions, as they align with the global push towards more sustainable practices.
One prominent example of these regulations is the European Union's Circular Economy Action Plan, which includes measures to ensure that all packaging in the EU market is reusable or recyclable in an economically viable way by 2030. This plan directly supports the use of returnable transport packaging, as it encourages businesses to shift away from single-use packaging and invest in more sustainable, long-lasting options.
In the United States, California's SB-54, enacted in 2022, mandates that all packaging in the state be recyclable or compostable by 2032. This legislation has prompted many businesses to explore returnable transport packaging solutions to comply with the new requirements. The law also imposes penalties for non-compliance, further incentivizing companies to adopt sustainable packaging practices.
Asia Pacific to Sustain as A Leader in the Market
Asia Pacific is emerging as the fastest-growing market for returnable transport packaging. Rapid industrialization and urbanization are driving the demand for efficient transport and logistics solutions. Countries like China, India, and Japan are witnessing a surge in returnable transport packaging adoption due to increased environmental awareness and government regulations promoting sustainable practices.
India's e-commerce boom is a significant driver for the returnable transport packaging market. The surge in online shopping has increased the volume of goods being transported, necessitating durable and reusable packaging solutions. Indian companies are increasingly using returnable transport packaging to improve supply chain efficiency and reduce packaging waste.
In January 2022, SIG, a leading provider of packaging solutions, invested approximately $335 million to acquire Pactiv Evergreen's carton packaging and filling machines businesses in China, Korea, and Taiwan. This move is set to propel the returnable transport packaging market forward in the Asia Pacific region, including India.
North America to Grow at a Significant Rate
North America leads the returnable transport packaging market due to its robust logistics infrastructure and strong emphasis on sustainability. The region's extensive network of highways, railways, ports, and distribution centers facilitates efficient and cost-effective packaging solutions. The U.S. and Canada are at the forefront, with companies increasingly adopting returnable transport packaging to comply with stringent environmental regulations and reduce single-use plastics.
In November 2022, Coca-Cola announced plans to expand its use of returnable packaging. By 2030, the company aims to serve 25% of its beverages in returnable glass bottles, showcasing its commitment to sustainability and setting a high industry standard.
Europe to Grow at a Notable Rate in the Market
Europe holds a substantial share of the returnable transport packaging market, driven by strong environmental regulations and a focus on circular economy practices. The European Union's Circular Economy Action Plan aims to ensure that all packaging is reusable or recyclable by 2030, which is significantly boosting the demand for returnable transport packaging solutions.
In December 2021, Arcus Infrastructure Partners acquired HB Returnable Transport Solutions, a leading provider of rental, cleaning, and integrated logistics services for returnable transport packaging market products. This acquisition highlights the growing investment in sustainable packaging solutions in Europe.
By Materials, the Plastic Segment Dominated the Market
Plastic is the most dominant material in the Returnable Transport Packaging market due to its lightweight, durability, and recyclability. Companies prefer plastic for its cost-effectiveness and the ease with which it can be molded into various packaging types, making it ideal for repeated use in transporting goods.
By Product, the Pallets Segment Dominated the Market
Among the products, pallets lead the market because of their versatility and strength. They provide a stable base for assembling, storing, and moving products efficiently. Their robustness ensures safe transit, reducing the risk of damage and loss, making them a staple in the supply chain.
By End Use , the Industrial Segment Dominated the Market
The industrial sector is the primary user of the Returnable Transport Packaging Market, relying heavily on durable and reusable packaging to move goods safely and cost-effectively. With large volumes of products being transported regularly, the need for robust and sustainable packaging solutions is critical, making the Returnable Transport Packaging market essential for this sector.
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The global industrial packaging market size forecasted to expand from USD 62.56 billion in 2022 to achieve an approximation USD 101.42 billion by 2032, increasing at a 5.0% CAGR between 2023 and 2032.
Electronic Packaging Market Size and Growth Rate (2023 - 2032)
The global electronic packaging market size calculated to go up from USD 1.40 billion in 2022 to realize an expected USD 6.14 billion by 2032, developing at a 16.0% CAGR between 2023 and 2032.
The global foam packaging market size presumed to grow from USD 17.40 billion in 2022 to fulfill a guesstimated USD 29.28 billion by 2032, thriving at a 5.35% CAGR between 2023 and 2032.
The global medical device packaging market size speculated to escalate from USD 24.87 billion in 2022 to reach a conjectured USD 52.67 billion by 2032, advancing at a 7.42% CAGR between 2023 and 2032.
The global virgin plastic packaging market size envisaged to surge from USD 117.23 billion in 2022 to acquire an anticipated USD 322.50 billion by 2032, maturing at a 9.91% CAGR between 2023 and 2032.
The global aseptic packaging market size to elevate from USD 50.34 billion in 2022 to reach an estimated secure a forecasted USD 138.48 billion by 2032, escalating at a 10.7% CAGR between 2023 and 2032.
The global rigid packaging market size expected to increase from USD 209.48 billion in 2022 hit a presumed USD 333.17 billion by 2032, augmenting at a 4.8% CAGR between 2023 and 2032.
The global plastic food packaging market size anticipated to rise from USD 54.98 billion in 2022 to attain a calculated USD 88.28 billion by 2032, increasing at a 4.9% CAGR between 2023 and 2032.
The global paper and paperboard packaging market size was at USD 297.89 billion in 2022 to secure an estimated USD 452.74 billion by 2032, progressing at a 4.28% CAGR between 2023 and 2032.
Recent Developments
In April 2024, announced plans to tackle carbon emissions and packaging waste by offering takeaway food in reusable, returnable packaging, extending their partnership to areas like Los Angeles and San Francisco. In March 2024, in collaboration with the Vetropack group, introduced a 0.33-liter returnable bottle for the brewing industry in Austria, which allows for more crates per pallet and provides economic and ecological benefits such as reduced logistics costs, shorter transport routes, and lower CO2 emissions. In March 2024, Launched the Bain de Nature eco refill packs for bath and shower gels were launched, made from 90% recycled plastic. This packaging uses significantly less plastic than conventional 400ml bottles, aiming to meet consumer demand for sustainable options and comply with national and European plastic use regulations. In February 2024, introduced a refillable version of its Watermelon Glow Pink Juice Oil-Free Moisturizer, using packaging made from 95% post-consumer recycled plastic, resulting in substantial reductions in carbon emissions and waste compared to single-use packaging. In April 2023, Finalized the merger of CHEP China and LOSCAM China, strengthening their capacity to address the growing demand for returnable packaging solutions in supply chains. In September 2021, launched a new space-efficient Intermediate Bulk Container (IBC) with a composite pallet design aimed at optimizing volume and loading efficiency. In September 2021, expanded IBC and plastic drum production at their facility in Turkey to meet rising industrial demand.
Key Market Players
Brambles Limited (CHEP) IFCO Systems Schoeller Allibert Group BV SSI Schaefer Group Rehrig Pacific Company Nefab AB CSI Sertapak Inc. Lamar Packaging Systems Polymer Logistics NV Mugele Group Orbis Corporation
Returnable Transport Packaging Market TOC
Introduction
Research Objective Scope of the Study Definition and Taxonomy
Research Methodology
Research Approach Data Sources Assumptions
Executive Summary
Synopsis Analyst Recommendations
Market Overview
Market Dynamics Market Drivers Market Restraints Market Opportunities
Value chain analysis Raw Material Sourcing Manufacturing Process Logistics & Transportation Buyer Preferences
Trends Market Trends Technological Trends
Porter's Five Forces Analysis Bargaining Power of Suppliers Bargaining Power of Buyers Threat of Substitute Threat of New Entrants Degree of Competition
PESTLE Analysis for 5 Leading Countries Regulatory Framework for Leading Countries/Regions Supply Demand Analysis Production & Consumption Statistics Export Import Statistics Price Trend Analysis
Global Returnable Transport Packaging Market Assessment
Overview Global Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Material Type (2021 – 2033) Global Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Product Type (2021 – 2033) Drums & Barrels Containers Pallets Crates, Totes, Trays & Bins Intermediate Bulk Containers (IBC's) Others
Global Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By End Use Type (2021 – 2033) Industrial Automotive Food and Beverages Consumer Goods Others
Global Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Region Type (2021 – 2033) North America Asia Pacific Europe LAMEA
North America Returnable Transport Packaging Market Assessment
Overview North America Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Material Type (2021 – 2033) North America Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Product Type (2021 – 2033) Drums & Barrels Containers Pallets Crates, Totes, Trays & Bins Intermediate Bulk Containers (IBC's) Others
North America Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By End Use Type (2021 – 2033) Industrial Automotive Food and Beverages Consumer Goods Others
Asia Pacific Returnable Transport Packaging Market Assessment
Overview Asia Pacific Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Material Type (2021 – 2033) Asia Pacific Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Product Type (2021 – 2033) Drums & Barrels Containers Pallets Crates, Totes, Trays & Bins Intermediate Bulk Containers (IBC's) Others
Asia Pacific Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By End Use Type (2021 – 2033) Industrial Automotive Food and Beverages Consumer Goods Others
Europe Returnable Transport Packaging Market Assessment
Overview Europe Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Material Type (2021 – 2033) Europe Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Product Type (2021 – 2033) Drums & Barrels Containers Pallets Crates, Totes, Trays & Bins Intermediate Bulk Containers (IBC's) Others
Europe Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By End Use Type (2021 – 2033) Industrial Automotive Food and Beverages Consumer Goods Others
LAMEA Returnable Transport Packaging Market Assessment
Overview LAMEA Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Material Type (2021 – 2033) LAMEA Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By Product Type (2021 – 2033) Drums & Barrels Containers Pallets Crates, Totes, Trays & Bins Intermediate Bulk Containers (IBC's) Others
LAMEA Returnable Transport Packaging Market Size Value (US$) and Volume (Million Tons), By End Use Type (2021 – 2033) Industrial Automotive Food and Beverages Consumer Goods Others
Company Profile
Nefab AB Company Overview Geographic Footprints Financial Performance Product Portfolio SWOT Analysis R&D Efforts Recent Developments & Strategic Collaborations Product Launch/M&A/Technical Collaboration
IFCO Systems Rehrig Pacific Company Schoeller Allibert Group BV SSI Schaefer Group CSI Sertapak Inc. Lamar Packaging Systems Polymer Logistics NV Mugele Group Orbis Corporation Brambles Limited (CHEP)
Conclusion & Recommendations
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Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
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