The reusable packing market is forecast to experience a growth of 5.5% over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of USD 109.09 billion in 2023. By 2033, the market is projected to touch USD 186.3 billion.
Reusable packaging has always been around from time immemorial. Historically, people used reusable bottles and containers as the standard packaging format. Wine, milk, and other beverages were all used to be contained in large refill systems.
However, since the introduction of single-use packaging solutions as a more cost-effective option and a key differentiator for brands, reusable packaging has been replaced, barring certain economies and specific segments.
Find Out More—Read the Complete Report for Full Insights!
Currently, consumers are exhibiting a renewed interest in reusable solutions due to growing sustainability concerns and a governmental ban on single-use packaging. Moreover, many countries have also implemented single-use bans, quotas, and taxes to encourage the adoption of reusable packaging. For instance, restaurants, cafes, and bistros in Germany that offer drinks and food ‘to go’ are also compelled to provide their products in reusable material from 2023.
Another instance includes the introduction of disposable cups for fast-food outlets and coffee shops in 2022. All these developments display increasing receptivity of consumers toward reusable packing solutions.
Due to a surging revival of interest in reusable packing, new start-ups, and pilot solutions are also being introduced, especially in food and food-service application areas. Reusable packing solutions can also appear in the personal care and beauty sector (with refill pouches).
However, these new solutions are not yet widely adopted and are associated with premium products. To make an impact in the market, these start-ups are expected to detect key enablers for the growth and size their potential customers to penetrate the reusable packing industry deeply.
Several factors pose a barrier to manufacturers. These include lack of infrastructure, acceptance, product safety and cost, and regulatory push for packaging solutions.
Still, plenty of accelerators are expected to boost reusability to scale considerably, surpassing present penetration, becoming a disruptor in packaging, and inculcating brand loyalty. These factors include regulations promoting reuse, dedicated consumer demand for circular solutions, and adaptation of stores and products to reusable packaging.
Top Highlights from FMI’s Analysis of the Reusable Packing Market:
- Asian countries like India and China are expected to observe significant CAGR as the countries move away from single-use plastics.
- Canada is surfacing as a key market in North America, which is expected to observe considerable growth prospects for manufacturers offering reusable packing solutions.
- Within Latin America, Mexico is projected to offer substantial business opportunities for reusable packing as these solutions promise cost-efficiency and less waste, thus appealing to the large masses.
- Australia is gaining interest from vendors as a profitable business location for reusable packing solutions. Consequently, many distributors are expected to set their foot in the market over the next decade.
Competitive Landscape
Given the number of local and regional rivals, the worldwide reusable packing market must become more coherent and competitive. To achieve a competitive advantage, key companies employ a variety of marketing strategies, such as mergers and acquisitions, expansions, collaborations, and partnerships.
Leading companies are also launching new products as a strategic method to increase their market presence among clients. They are incorporating innovative materials into their existing product lines to achieve a big customer base.
Key Companies Profiled:
- 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
Some Recent Developments in the Market are as Follows:
- In February 2022, the Coca-Cola Company announced its sustainable goal to boost the use of reusable packaging. The company has aimed to use reusable plastic or glass bottles for at least 25% of its portfolio by the end of 2030.
- In September 2021, Tesco collaborated with Loop, which is a platform for global reusable packaging, as a move towards sustainability. Around ten stores, Tesco would offer products in reusable packaging, and the range would cover nearly 88 products.
Reusable Packing Market Outlook by Categorization:
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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- The Middle East & Africa
- Oceania
About Future Market Insights (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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
