The latest report on “Returnable Packaging Market (Material Type – Plastic, Metal, Wood, and Other Materials; Type – Containers, Drums & Barrels, Pallets, Crates, and Protective Dunnage; Application – Food & Beverage, Pharmaceutical & Healthcare, Consumer Electronics, Automotive, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global returnable packaging market is projected to grow at a CAGR of 7.35% over the forecast period of 2019-2025.
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The growth transportation and logistics industry are changing the dynamics of the bulk packaging market. Globalization and international trade have flourished in various industries and also brought evolution to the bulk packaging sector. Returnable packaging is one of the innovations that has facilitated the transportation of goods in bulk safely and in time.
The returnable packaging market is highly competitive with the key players contending for their share in the market. The major players including Nefab Packaging Inc, Myers Industries, Inc., Kuehne + Nagel International AG, IFCO SYSTEMS N.V., SchoellerAllibert Services BV, Schutz GmbH & Co. KGaA, Amatech Inc. and others are focusing more on launching new products, exploiting their reach in emerging countries, and collaborations to stand in this competitive market.
Increasing Globalization and International Trade are Majorly Driving the Returnable Packaging Market
The increasing globalization and international trade are majorly driving the returnable packaging market. As the nations of the world are connected, the trade between them has increased. This has increased demand for the packaging of goods in bulk and returnable packaging is a suitable option. Moreover, the rising demand from various end-use industries including food & beverages, automotive, and consumer durables are expanding the demand for returnable packaging.
Furthermore, the cost-effectiveness of returnable packaging is supporting the growth of the returnable packaging market. The returnable packaging helps in the timely and safe transportation of the goods, which saves the time and cost of the end-users. However, the stringent regulations regarding transport and logistics are the major restraining factor for the growth of the returnable packaging market. Nevertheless, the increasing demand for biodegradable returnable packaging is expected to offer lucrative opportunities for the key players in the returnable packaging market.
North American Generated the Highest Revenue, Dominating the Global Returnable Packaging Market
In terms of geography, North American generated the highest revenue, dominating the global returnable packaging market. The largest market share of North Americans attributed to the strong industrial base and high demand for sustainable packaging from various industries. Moreover, the demand for large retailers for block pallets in the region is expected to boost the growth of the returnable packaging market in North America.
The report on the global returnable packaging market covers segments such as material type, type, and application. On the basis of material type, the sub-markets include plastic, metal, wood, and other materials. On the basis of type, the sub-markets include containers, drums & barrels, pallets, crates, and protective dunnage. On the basis of application, the sub-markets include food & beverage, pharmaceutical & healthcare, consumer electronics, automotive, and other applications.
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The report provides profiles of the companies in the market such as Nefab Packaging Inc, Myers Industries, Inc., Kuehne + Nagel International AG, IFCO Systems N.V., SchoellerAllibert Services BV, Schutz GmbH & Co. KGaA, Amatech Inc., Rehrig Pacific Company, IPL Plastics Inc., Orbis Corporation, and Other Companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the returnable packaging.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.