Returnable Packaging Market Expected to Reach $191.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Returnable Packaging Market," The returnable packaging market size was valued at $103.7 billion in 2021, and is estimated to reach $191.7 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.Returnable packaging is durable packaging meant for multiple uses in a closed loop system. A closed loop system refers to a system in which materials are recycled and reused rather than discarded. This type of packaging can include pallets, racks, bulk containers, hand-held containers, and dunnage.

A rapidly growing need exists for ways to provide safe and cost-effective transportation of hazardous foods & beverages and petroleum products, which boosts the demand for effective packaging. However, this leads to rise in public awareness of environmental impact of pipeline and their support in reducing packaging related greenhouse gas emissions, which is drives the need for effective packaging solutions that is safer toward environment. Thus, this drives the demand for returnable packaging products made of eco-friendly materials. In addition, population growth has a positive effect on growing demand for various daily products, such as water, milk, and petroleum products such as kerosene, diesel, and gasoline, which are expected to generate potential opportunities for the returnable packaging market during the forecast period.

Several manufacturers in the global returnable packaging industry stopped their business activities in 2020, owing to lockdowns implemented in developed and developing countries and ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the returnable packaging manufacturing companies.

In addition, lack of man power and raw materials affected the the returnable packaging market growth. However, the market is expected to recover completely by first quarter of 2023 owing to complete reopening of the returnable packaging manufacturing companies.

Moreover, in 2021, with the availability of vaccine against COVID-19, the global returnable packaging market is expected to gradually witness growth.

The returnable packaging market is segmented into material, product, end user industry, and region. By material, the market is categorized into plastic, metal, wood, and others. On the basis of product, the market is fragmented into pallets, crates, boxes, and others. The end user industry segment is fragmented into manufacturing, food & beverages, consumer goods, healthcare, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the returnable packaging market analysis include Amatech Inc., Brambles, Cabka Group, DS Smith, Ipl Plastics, Menasha Corporation, Monoflo International, Multipac Systems, Myers Industries, Nefab Group, Plasmix Private Limited, Rehrig Pacific Company, Reusable Transport Packaging, Schoeller Allibert, Schutz Gmbh & Co. Kgaa, UFP Technologies and Vetropack Holdings.

The global returnable packaging market has witnessed significant growth in the past decade, owing to rise in demand for compact and lightweight packaging in various sectors such as foods & beverages and pharmaceuticals. A number of players are expanding their business globally, owing to increased customer base, enhanced effective operations, and developed product portfolios. This is anticipated to fuel growth of the global market.

Key findings of the study

• The report provides an extensive analysis of the current and emerging global returnable packaging market trends and dynamics. 
• By material, the plastic segment was the largest revenue generator in 2021.
• By product, the pallets segment generated the highest revenue in 2021.
• By end user industry, the manufacturing segment dominated the market in 2021.
• Region-wise, Asia-Pacific is anticipated to dominate the global returnable packaging market share during the forecast period.
• The report provides an extensive analysis of the global returnable packaging market opportunities.
• The global returnable packaging market forecast analysis from 2022 to 2031 is included in the report.