The returnable transport packaging market is estimated to secure a valuation of US$ 27.81 billion in 2023 and is estimated to rise to US$ 45.73 billion by 2033. The market is capturing a CAGR of 5.1% during the forecast period.
The returnable transport packaging market is experiencing robust growth, driven by the increasing demand for cost-effective and sustainable packaging solutions. Industries such as automotive, food and beverages, and retail are major adopters of RTP, leveraging its benefits in reducing packaging waste and enhancing supply chain efficiency.
The shift towards circular economy practices and stringent regulations on single-use plastics are also significant drivers propelling the RTP market forward. Additionally, advancements in materials and design innovations are improving the durability and versatility of RTP products, making them suitable for a wide range of applications.
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Along similar lines, wide-scale availability of different RTP products, each for different applications, such as IBCs, FIBC bags, pallets, drums, layer pads, plastic crates, and dunnage bags of different capacities are complementing the market growth. For instance, smart technology-based flexible intermediate bulk containers (FIBC) bags are gradually replacing corrugated boxes in the transport of organic products in developing regions.
“Market players are focusing on overcoming challenges caused by lack of infrastructure and weaker supply chain capabilities to widen their profit margins”, opines FMI analyst.
Returnable Transport Packaging Market – Key Takeaways
- The global returnable transport packaging market was valued at US$ 21 Billion in 2017 and is forecasted to attain a valuation of US$ 34 Billion by 2028, progressing at a CAGR of 4.7%.
- Plastic-based RTP products are expected to be the most material type owing to ease availability, low operational cost, and early penetration.
- Based on the end-use, food & beverage and building & construction sectors are channel majority of revenue backed by the need for safe transportation mediums.
Returnable Transport Packaging Market – Key Trends
- The penetration of smart technologies into the packaging industry is expected to emerge as a lucrative trend in the RTP market.
- Smart pallets and crates which have radio frequency identification (RFID) microchips imbibed in them are offering advanced features such as package tracking, asset tracking, and inventory management, which fuelling growth of the market.
Returnable Transport Packaging Market – Regional Analysis
- East Asia and North America are anticipated to account for more than half of global value, with the former being the largest regional market.
- East Asia is forecasted to progress at a CAGR of 5.7% owing to the surging number of trading activities in the region cooped with the expansion of the construction sector.
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Returnable Transport Packaging Market – Competitive Landscape
Some of the key players operating in the market include Greif, Inc., Brambles Limited, Mauser Packaging Solutions, Schoeller Allibert Services B.V, DS Smith Plc, Time Technoplast Ltd., Berry Global, Inc, Cordstrap B.V, Schuetz GmbH & Co. KGaA, Supreme Industries Limited, and PalletOne, Inc, among others. Market players are focusing on expanding their geographical footprint and in mergers and acquisitions to achieve the same.
- Craemer Holding GmbH acquired Telford Factory in the U.K. to increase the production of pallets.
- Mauser Packaging Solutions announced the acquisition of Engineered Recycling Company, LLC (ERC), a plastic manufacturer
Returnable Transport Packaging Market – Taxonomy
Product type:
1 – IBC
- Rigid
- Flexible
2 – Pallets
- Wood
- Plastic
- Metal
3 – Plastic Crates
4 – Layer Pads
5 – Drums
- Plastic
- Metal
- Fiber
6 – Dunnage Bags
Material type:
- Metals
- Plastics
- Papers
- Wood
End-use industry:
- Building & Construction
- Food & Beverages
- Chemicals
- Retail
- Industrial
- Logistics
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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