In 2021, the market for reusable packaging was estimated to be worth approximately $98.5 billion. From 2022 to 2032, the market is anticipated to expand at a respectable CAGR of 5.5% and reach a value of US$ 177.0 billion.
According to FMI, during the evaluation period, demand for plastic reusable packaging is expected to increase. In 2021, the plastic material market will offer a total opportunity of US$18.3 billion. The USA is predicted to expand at a 4.2% CAGR from 2022 to 2032 and will likely reach US$ 23.2 billion by that time.
Reusable packing has numerous economic and sustainability benefits. There are several product categories in the field of reusable packing such as pallets, crates, boxes, dunnage, and drums. This type of packaging has applications in both customer and industrial usage.
Manufacturers are striving to build strong and durable products, which can be used multiple times. Rapid expansion of the e-commerce business and rising internet penetration rate in emerging economies are projected to drive the global market.
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Moreover, reusable packing is extensively used in the food & beverage industry due to its ability to provide sustainability and ecological balance. This type of packaging helps in delivering a more secure transportation option in the food and beverage industry.
More Insights on Global Reusable Packing Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for reusable packing market by materials (plastic, metal, wood, glass, and foam), by product type (pallets, crates, dunnage, intermediate bulk containers (IBC), boxes, and drums & barrels), by end-use industry (food & beverages, automotive, chemicals, building & construction, pharmaceuticals, logistics & transportation, and consumer durables), across seven regions.
Key Takeaways from Global Reusable Packing Market
- By material, the plastic segment is set to grow at 7.5% CAGR during the forecast period.
- Based on material, the pallets segment is estimated to hold around 49.4% of the global market share in the evaluation period.
- The U.S. reusable packing market is expected to grow at 4.2% CAGR from 2022-2032.
- Top 3 countries are set to generate a share of nearly 39.3% in the global reusable packing market during the evaluation period.
- The global reusable packing market is estimated to be valued at US$ 103.4 Bn in 2022.
“Relatively low cost and numerous beneficial properties of reusable pallets, including easy transportation, robust strength, and lightweight nature are likely to spur their demand in the upcoming decade,” comments a FMI analyst.
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High Demand for Cost-efficient Packaging is Propelling the Demand for Reusable Packing
Reusable packing is gaining traction in recent years due to its various advantages. This type of packing is not only environmentally friendly but also cost efficient. As compared to single-use packaging, reusable packing can be used multiple times. It is stronger as it is designed for more than one use. Customers do not need to invest their time and money repeatedly in re-purchasing packing materials.
Easy Availability of Pallets and Low Cost of Production Are Pushing the Market
Pallets are anticipated to generate more than 49% of the global reusable packing market share in the next decade. It is estimated that pallets would exhibit an exponential growth of 1.8 times by the end of 2032. Easy availability of raw materials and low cost of production of pallets are anticipated to aid growth. As pallets are sustainable and cost-effective compared to other fossil fuel-based materials, they are extensively used in the logistics and transportation industry.
Competitive Landscape: Reusable Packing Market
Some of the leading companies present in the global reusable packing market are Tri-pack Packaging Systems Ltd, Brambles, DS Smith, IPL Plastics, Menasha Corporation, Myers Industries, Nefab Group, Rehrig Pacific Company, Schoeller Allibert, Schütz GmbH & Co. KGaA, Vetropack Holding, Buckhorn, IFCO SYSTEMS, RPP Containers, Amatech, ORBIS Corporation, Alpega Group, and GEFCO.
Global Reusable Packing Market Outlook by Category
By Material:
- Plastic
- Metal
- Wood
- Glass
- Foam
By Product Type:
- Pallets
- Crates
- Dunnage
- Intermediate Bulk Containers (IBC)
- Boxes
- Drums & Barrels
By End-use Industry:
- Food & Beverages
- Automotive
- Chemicals
- Building & Construction
- Pharmaceuticals
- Logistics & Transportation
- Consumer Durables
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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