Returnable Packaging Market to be Dominated by Automotive Sector Through 2028
Rising demand from
Automotive Sector is expected to drive Global Returnable Packaging market in
the forecast period 2024-2028.
According to
TechSci Research report, “Returnable Packaging
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F”, Global
Returnable Packaging market is anticipated to upsurge at an impressive rate in
the forecast period 2024-2028. A significant factor fueling the growth of the Global
Returnable Packaging Market is the use of returnable packaging products for the
transportation of auto components, such as body parts from the sellers to the
assembly units. In addition, regular and little-distance transportation of
heavy and big auto parts generates demand for effective, durable, and sturdy
packaging products, such as dunnage, pallets, and racks, thereby increasing the
demand of returnable packaging. Moreover, increasing demand for effective and
low-cost bulk liquid transportation products from various end-use industries is
expected to contribute to the high growth of the product segment. Thus, the
rising demand for sustainable packaging to reduce wastes and lower carbon
footprint, which further fuel the growth of Global Returnable Packaging market.
For instance, according to BMW group, they use
sustainable and durable packaging material for transportation of automobiles.
Furthermore,
the market is being further stimulated by growing demand from healthcare, food
& beverage, e-commerce, and consumer durable sectors.
However,
volatility in raw material costs can slow down market growth. Also, addition
with existing supply chain logistics can further restrain the market growth.
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XX market data Figures spread through XX Pages and an in-depth TOC on the "Returnable Packaging Market"
Global Returnable
Packaging Market is segmented based on material, product, end use, and region.
Based on material,
the market is categorized into plastic, metal, wood, and others. Plastic segment is expected to hold the
largest market share in the forecast period, 2024-2028. This is due to their
durability, low weight, strong corrosion, and solvent resistance.
Based on product,
the market is segmented into pallets, crates, intermediate bulk containers
(IBCs), and others. Pallets
segment is expected to hold the largest market share in the forecast period,
2024-2028 as it provides effective protection of goods from mechanical rupture
while shipping.
Based on end use, the market is fragmented into food & beverages, automotive,
consumer durables, and others.
Automotive segment is expected to hold the largest market share in the forecast
period, 2024-2028. This is due to increasing demand for the transportation of
automotive products from supplier to installation center.
Major
companies operating in the Global Returnable Packaging market are:
- ORBIS Corporation
- Econovus
Packaging Pvt. Ltd.
- Nefab AB
- Plastic
Packaging Solutions Midlands & East Ltd.
- Tri-pack
Packaging Systems Ltd
- Amatech Inc
- CHEP
International Inc
- LEAP India
- Schoeller
Allibert Services B.V.
- Celina
Industries
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“Asia
Pacific region is expected to grow at the highest rate during the forecast
period due to rapid industrialization and expanding manufacturing industry. Additionally,
the existence of a huge number of production companies creates lucrative
opportunities for the market growth. Furthermore, in North America, the presence
of the major food and beverage, automobile, pharmaceutical industries along
with favorable trade agreements are creating huge prospects for the market
growth during the forecast period,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Returnable
Packaging Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F Segmented By Material (Plastic, Metal, Wood, Others), By
Product (Pallets, Crates, Intermediate Bulk Containers (IBCs), Others), By End
Use (Food & Beverages, Automotive, Consumer durables, Others), By Region,
and Competition,
has evaluated the future growth potential of Global Returnable Packaging Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Returnable Packaging Market.”
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