SAN FRANCISCO, May 16, 2023 /PRNewswire/ -- The global returnable packaging market size is expected to reach USD 173.05 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% over the forecast period. This is attributed to the expanding key end-use industries such as food & beverages, healthcare, and others.
Key Industry Insights & Findings from the report:
- Plastic has emerged as a dominating material in the market for returnable packaging with a majority share in 2022 and is expected to maintain a leading position by 2030, owing to its wide application in the food & beverage and healthcare industries, due to its unique properties such as anti-shock during shipping the products.
- Pallets recorded the largest market share in 2022 in the products segment, due to their higher compatibility, structural integrity, and easy cleaning properties. However, the lack of international standards and uniformity in the sizes of pallets is expected to challenge material handling and transportation corporations.
- The healthcare segment is expected to expand at a substantial CAGR of 6.9% during the forecast period. The pharmaceutical industry requires packing products like pallets, containers, FIBCs, drums, and barrels for the transportation of chemicals, medicines, drugs, and vaccines in bulk quantities.
- The increasing aging population in countries like Japan, Germany, Italy, Portugal, and other European economies are expected to increase the demand for pharmaceutical products and healthcare equipment, which is expected to drive demand for returnable packaging from the healthcare end-use industry.
- However, the growing adoption of single-use flexible packaging and several shortcomings of returnable packaging, such as expensiveness in comparison to other single-trip products, restrains the market growth to some extent.
- New product developments, coupled with mergers & acquisitions and capacity expansions, are some of the strategies adopted by industry players. For instance, during the 2022 Plastics Caps & Closures conference in September, the Orbis Corporation showcased its reusable packaging solutions designed to address the unique requirements of the primary packaging supply chain that includes bulk containers, pallets, and boxes.
Read 130-page full market research report, "Returnable Packaging Market Size, Share & Trends Analysis Report By Material (Plastics, Metal), By Product (Pallets, IBCs), By End-use (Food & Beverage, Healthcare), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Returnable Packaging Market Growth & Trends
Returnable packaging products offer numerous benefits to end-use companies, in comparison to single-use or expendable packaging products. Even though the procurement cost of returnable packaging is significantly higher than that of single-use packaging, it is reused multiple times, unlike single-use packaging, which will eliminate the recurring costs of packaging production. Besides, using similar containers for longer duration reduces the cost per trip and thus, returnable packaging proves to be cost-efficient in the longer term.
Food & beverages, pharmaceuticals, and automobiles are among the major end-use industries for returnable packaging. In these sectors, returnable packaging products such as pallets, crates, IBCs, dunnage, and others are mainly utilized for internal handling (within the manufacturing plant) of raw materials, semi-finished, and finished goods, as well as for the transportation of finished goods from the manufacturing plant to distribution and retail center. Therefore, expanding manufacturing and distribution activities within the food & beverages, pharmaceutical, and automobile industries is expected to directly fuel the demand for returnable packaging products.
Furthermore, the global pharmaceutical industry is expected to witness strong growth in the coming years. Growing aging population, especially in developed countries such as Japan, France, Germany, and others; increasing health consciousness among consumers; improving healthcare infrastructure, particularly in developing countries such as India, Brazil, and China; and high emphasis on the strengthening of the healthcare sector, coupled with the introduction of various healthcare insurance schemes by governments globally, are primarily driving the pharmaceutical industry.
Industry players are adopting several strategies, including collaborations, mergers & acquisitions, joint ventures, and partnership agreements to expand the customer base and individual market share. For instance,in September 2022, CHEP and Cabka collaborated to supply reusable containers out of recycled plastics. These containers are customized to CHEP's performance requirements and are set to maximize the use of recycled materials, facilitating a fully circular approach.
Returnable Packaging Market Segmentation
Grand View Research has segmented the global returnable packaging market based on material, product, end-use, and region
Returnable Packaging Market - Material Outlook (Revenue, USD Billion, 2018 - 2030)
- Plastic
- Metal
- Wood
Returnable Packaging Market - Product Outlook (Revenue, USD Billion, 2018 - 2030)
- Pallets
- Crates
- IBCs
- Drums & Barrels
- Dunnage
- Others
Returnable Packaging Market - End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- Food & Beverage
- Automotive
- Consumer Durables
- Healthcare
- Others
Returnable Packaging Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players in the Returnable Packaging Market
- ORBIS Corporation
- NEFAB GROUP
- PPS Midlands Limited
- Tri-pack Packaging Systems Ltd.
- Amatech, Inc.
- CHEP
- Celina
- UBEECO Packaging Solutions
- RPR Inc.
- RPP Containers
- IPL, Inc.
- Schoeller Allibert
Check out more market research studies published by Grand View Research:
- Supplements And Nutrition Packaging Market- The global supplements and nutrition packaging market size is expected to surpass USD 35.07 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.1% from 2023 to 2030. The rising demand for immunity-boosting supplements due to the COVID-19 outbreak, ease in access to supplements, increasing disposable income, and consumer awareness regarding nutrition, health, and wellness. However, the presence of counterfeit products is hampering the market of supplements which in turn decline the demand for packaging.
- Zero Waste Packaging Market - The global zero waste packaging market size is expected to reach USD 502.6 billion by 2030, expanding at a CAGR of 9.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing awareness about sustainable packaging products across industries, developing infrastructure for waste management, and sensible disposal practices across developed and some developing countries are driving the market.
- Cold Form Blister Packaging Market - The global cold form blister packaging market size is expected to reach USD 5.69 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The market is anticipated to be driven by the growing end-use industries including healthcare, electronics and semiconductors, consumer goods, food and confectionery, and industrial products, particularly in Asia Pacific.
Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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