Returnable Packaging Market

Returnable Packaging Market

The Returnable Packaging Market accounted for USD 97 billion in 2020 and is projected to expand at a compound annual growth rate of 6.7% over the forecast period. Returnable packaging products are composed of durable materials to withstand difficult operations throughout their supply chain.

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Returnable packaging offers viability, reduction in shipment cost, safety, and protect goods. Expansion across the e-commerce industry, the prevalence of large and medium-sized organizations through mergers and acquisitions, and growing demand from the food & beverage and automotive industries are some of the prominent factors fuelling the returnable packaging market. Returnable packaging decreases packaging waste going into landfills and thus offers sustainability. Thus, the growing need to improve brand reputation in order to sustain their competitiveness, these sustainable packaging has been adopted by the leading companies.

With the sudden evolution of coronavirus, the government enforced a strict lockdown across the nation. These rigorous norms disrupted the supply chain, which hampered market growth due to insufficient raw materials and a lack of workforce. Though, the returnable packaging market witnessed a slight reduction in the CAGR. However, unstable prices of raw materials and heavy packaging might hinder Returnable Packaging Market share.

North American region is projected to expand at a faster CAGR over the forecast period, owing to the accelerating per capita income and growing demand for the safe exchange of medicines and food and beverage. The strong presence of prominent players such as Orbis Corporation, Menasha Corporation, and Myers Industries, Inc. will bolster the Returnable Packaging Market size.

Returnable Packaging Market Segmentation:

Returnable Packaging Market by Material

• Plastic

• Metal

• Wood

Returnable Packaging Market by Product

• Pallets

• Crates

• IBCs

• Drums & Barrels

• Dunnage

• Others

Returnable Packaging Market by End-Use Industry

• Food & Beverages

• Automotive

• Consumer Durables

• Healthcare

• Others

Returnable Packaging Market by Region:

• Asia Pacific

o China

o Japan

o India

o Rest of APAC

• North America

o United States of America

o Canada

• Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

• RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

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