The global returnable packaging market size is projected to grow from USD 104.9 billion in 2021 to USD 141.7 billion by 2026, at a CAGR of 6.2% from 2021 to 2026. The food & beverage industry is one of the leading consumers of returnable packaging. This industry is witnessing improved sales volumes due to rising disposable incomes. One of the major factors driving the growth of the food & beverage industry is the changing lifestyle and preference of consumers, which further result in increased demand for ready-to-eat foods with a strong emphasis on food safety & packaging integrity. Brand owners are also keen on introducing innovative packaging systems that can be used as a tool for brand enhancement/differentiation in a highly competitive market. The food industry, particularly the meat, poultry, and fish sectors, widely uses plastic returnable transit packaging, thus increasing the demand for returnable packaging systems in this category.
In terms of both value and volume, IBCs segment to be the fastest-growing segment by 2026. The IBCs segment to be the fastest-growing segment in the returnable packaging market.IBCs are designed for the transportation and storage of bulk liquid and granulated substances, such as chemicals, food ingredients, and pharmaceuticals.
These reusable containers have a standard capacity of 1,000 liters and built-in pallet for easy and cost-efficient handling.They are also used to transport hazardous wastes and marine pollutants.
One of the key advantages of these containers is their strength and durability.They have an expected lifespan of more than 20 years.
Cubic shaped IBCs witnessed wide usage among the end-use industries as they ensure optimum space utilization, thereby enabling the transportation of more material in the same space. Additionally, being stackable provides the advantage of packaging goods in bulk quantities.
Wood to be the fastest-growing material from 2021 to 2026, for returnable packaging.
Wood will be the fastest-growing material for returnable packaging during the forecast period.With the increasing level of global warming, it has become imperative to change the direction of the packaging sector towards sustainable packaging from the conventional packaging process.
Apart from being an ecological material, wood also has other excellent features such as high resistance, durability, and versatility. These features make wood products preferable for decoration, construction, and packaging applications.
In terms of both value and volume, the APAC returnable packaging market is projected to grow at the highest CAGR during the forecast period. In terms of value and volume, the APAC region is projected to grow at the highest CAGR from 2021 to 2026.Emerging economies in APAC are expected to experience significant demand for returnable packaging as a result of the expansion of the food & beverage and automotive industries in the region.
The growing population and rapid urbanization are among the key factors propelling industry expansion in this region. High domestic demand and the easy availability of raw materials and low-cost labor make APAC a lucrative market for the manufacturers focusing on this region to gain market share and increase profitability.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the returnable packaging market. •?By Department: Sales/Export/Marketing: 62.1%, Production: 25.6%, and R&D: 12.3% •?By Designation: C-level: 54.9%, D-level: 15.5%, and Others: 29.7% •?By Region: North America: 18%, Europe: 14%, APAC: 42%, Middle East & Africa: 22%, and South America: 4%
The global returnable packaging market comprises major manufacturers, such as Brambles (Australia), Schoeller Allibert (Netherlands), Menasha Corporation (US), DS Smith (UK), and Myers Industries (US), among others.
Research Coverage The market study covers the returnable packaging market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on Fe content, particle size, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the returnable packaging market.
Key Benefits of Buying the Report The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall returnable packaging market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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Gross Domestic Product
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