Recent Developments & New Business Revenue Opportunities in Global Returnable Packaging Market Industry

The global returnable packaging market size is projected to grow from USD 104.9 billion in 2021 to USD 141.7 billion by 2026, at a CAGR of 6.2% from 2021 to 2026.Returnable packaging is an environment-friendly and cost-effective alternative to one-way packaging products. This method is generally used by manufacturers/processors and their suppliers/customers in an organized supply chain with closely managed shipping loops.Returnable packaging is widely used and preferred in end-use industries such asfood&beverage, automotive, consumer durables, and healthcare, amongst others.

Browse?96 market data Tables and?36 Figures spread through?161 Pages and in-depth TOC on "Global Returnable Packaging Market by Product Type (Pallets, Crates, Intermediate Bulk Containers, Drums & Barrels, Bottles, Dunnage), Material (Plastic, Metal, Wood, Glass, Foam), End-use Industry, and Region - Global Forecast"

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The returnable packaging market has thousands of companies that thrive in their domestic market. A few of the major players are Brambles (Australia), SchoellerAllibert (Netherlands), Menasha Corporation (US), DS Smith (UK), and Myers Industries (US), among others.These players have adopted various growth strategies,such as mergers&acquisitions, and expansions, to increase their market shares and enhance their product portfolios.

Brambles is a supply-chain logistics company with brands such as IFCO and CHEP and has operations in over 60 countries. The company’s business model is the continuous share and reuse of the largest pool of reusable crates, pallets, and containers. This enables the company to serve its customers while minimizing the environmental impact and enhancing safety and efficiency of the supply chain around the globe. Brambles offers a wide range of supply chain platforms comprising Reusable Plastic Crates (RPCs), pallets (plastic, timber, and display), specialized containers, bins, and safe handling equipment. In line with its strategic priorities, the company has decided to pursue the demerger of its IFCO RPC business with the aim to be a global leader in platform pooling. The company manages, maintains, transports, as well as supplies over 350 million platforms for its customers. It has a strong foothold in North America with 450 service centers across the region.

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SchoellerAllibert is one of the largest manufacturers of returnable transit packaging. The company has been designing, developing, and manufacturing returnable packaging for over 60 years. SchoellerAllibert has been formed through partnerships and acquisitions of key players such as Schoeller, Perstorp, Wavin, Linpac, Arca, Allibert, Stucki, and Paxton, among others.The company offers a wide range of tailor-made and standard returnable packaging solutions through key product segments, namely, foldable small containers, foldable large containers, rigid pallet containers, stackable and stack /nest handheld boxes, beverage crates and trays, UN pails, Pallets and Dollies, and Foldable IBCs. The company has a strong foothold across the globe, with 14 production locations across 50 countries.

Recent Developments in Global Returnable Packaging Market

• In August 2021, fab Group has introduced FiberFlute, an eco-friendly alternative to foam. This new product is a result of the partnership between Nefab Group AB (Nefab) and Corruven Canada Inc. (Corruven). Through Nefab’s global footprint and exclusivity of Corruven’s FiberFlute, customers can protect their products while minimizing total costs and environmental impact. FiberFlute is different from plastic-based packaging because it is 100% fiber-based and paper-recyclable solution. Moreover, FiberFlute can absorb more shock with less material compared to polyethylene foam, perform in both dry and humid conditions, and resist multiple drops.
• In May 2021, Nefab has expanded its footprint in the North American region. The company has added production sites in Houston (Texas), Tucson (Arizona), and Gainesville (Florida) in the US.
• In March 2021, Suhutz, in order to meet the requirements in the supply chain and fulfill customer expectations, has added the new Ecobulk MX 560 to its extensive product range. This new IBC has a lower height than standard models and a nominal volume of 560 liters or 150 gallons, which makes it ideal for applications where smaller containers are an advantage, but where maximum performance and the highest quality are also decisive.
• In 2021, Schoeller Allibert has introduced a pallet box made from recycled fishing nets. With this upcycling result, the company is reinforcing its sustainability strategy in recent years. Under the motto 'Making plastic packaging too good to waste,' the company further focuses on increasing the sustainable benefits of its packaging products.
• In 2020, Schoeller Allibert has launched a JumboNest—a sustainable, hygienic, fully stackable and designed to maximize freight storage, returnable packaging product. The launched product is food safe, robust, and manufactured to withstand extreme temperatures from 44.6° F to +104°F and is a suitable choice for industries including food & food processing, beverage, agriculture, retail, industrial manufacturing, and recycling.

Returnable packaging is an environment-friendly and cost-effective alternative to one-way packaging products. This method is generally used by manufacturers/processors and their suppliers/customers in an organized supply chain with closely managed shipping loops. Returnable packaging is manufactured from durable materials such as plastics, wood, or metal and is designed to withstand rough handling of a typical logistics system. In comparison to one-way packaging, returnable packaging offers numerous benefits in terms of economic benefits which include direct savings in packaging purchase and disposal cost; appealing aesthetics; and durability.

MarketsandMarkets expects the global returnable packaging market size to grow from USD 104.9 billion in 2021 to USD 141.7 billion by 2026, at a CAGR of 6.2% from 2021 to 2026. The market for returnable packaging is segmented, based on product type, into pallets, crates, IBCs, dunnage, drums & barrel, bottles, and others.Pallets segment has been the largest market in 2021.Pallets offer protection to shipped goods from mechanical rupture apart from simplifying the handling of goods, which contributes to their wide usage.They offer protection to shipped goods from mechanical rupture, besides simplifying handling. The added advantage of pallets is that they are reusable and recyclable, which results in less packaging waste. Pallets are used in various industries, such as food & beverages, automotive, agriculture, building & construction, clothing, freight forwarding, logistics, electronics, and pharmaceuticals.

Based on end-use industry, automotive segment is projected to be the larger segment in the returnable packaging market.The global automotive industry is characterized by the presence of complex supply chains and networks, requiring several processes to be integrated to enable inbound and outbound flow of returnable packaging. Several OEMs today are using returnable packaging to enhance the efficiency of their operations by reducing the lead time of delivering products back to manufacturers/suppliers. Returnable containers are widely used by automotive manufacturers to transport different parts of automotive components to suppliers of components. These components are then transported to assembly plants for assembling. In the automotive industry, plastics and steel are used for returnable packaging as they offer durability and tamper resistance. The demand for returnable packaging is continuously increasing in the automotive industry due to the pressure of cost reduction exerted on OEMs to handle competition in the market.

The returnable packaging market is studied for five regions, namely, North America, APAC, Europe, Middle East &Africa and South America. The Europe region accounted for the largest market share in 2020, in terms of both value and volume. Furthermore, the market for returnable packagingin the APAC region is projected to grow at the highest CAGR from 2021 to 2026, in terms of both value and volume.

In 2020, the returnable packaging market declined amid the COVID-19 pandemic, with a marginal decline in its CAGR. The market was affected, mainly by the slow raw material production in many countries, supply chain disruptions, and hampered trade movements in 2020. In the first quarter of 2021, the market for returnable packaging witnessed an increase in demand worldwide, compared to the same period in 2020.?