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The global Returnable Packaging Business market has witnessed a tectonic surge over the past few years, mainly due to the surging demand for Returnable Packaging Business from several end use sectors, like consumer goods, F&B, and automotive.
Regional Frontiers
Geographically, the Returnable Packaging Business Market spans across Europe, North America, Asia Pacific, and Rest of the World (RoW).
Considering the global scenario, Europe is anticipated to expand at the highest CAGR, mainly due to the surging awareness to reduce packaging waste, coupled with the increased demand for bulk transportation. The presence of a strong industrial base in Europe and surging awareness among the consumers regarding sustainable packaging are some of the major factors propelling the growth of the regional market. The market is also influenced by the improving economy and increasing domestic demand for packaged food and beverage items. The growing awareness for reducing packaging waste among the masses is further likely to encourage the market growth in Europe.
India and China in the Asia Pacific are anticipated to contribute significantly, owing to the rapid growth in manufacturing activities and industrialization.
Segmental Analysis
The Returnable Packaging Business market is segmented on the basis of material, product type, and end-use.
By material, the market is segmented into metal, plastic, wood, and others.
By end use, the market is segmented into food & beverages, automotive, consumer goods, and pharmaceuticals & healthcare. Of these, the automotive segment is predicted to expand at the highest rate due to the rising use of returnable containers by the automotive manufactures to transport automotive parts to the suppliers.
Industry Updates
June 2019: The catering equipment hire company, Well Dressed Tables, has recently signed a two-year contract to offer operational services for CupClub, a Returnable Packaging Business service for drinks. CupClub offers Returnable Packaging Business service with end-to-end service, thus eliminating single-use plastic packaging.
Competitive Dashboard
The players dominating the global Returnable Packaging Business market include Schoeller Allibert (Netherlands), Brambles (Australia), DS Smith (UK), Menasha Corporation (US)
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