Global Reusable Packaging Market is projected to reach USD 66.96 billion in 2027. Integration of various market factors such as the requirement of flexible packaging solutions, the growing emphasis on the reduced usage of plastic products in packaging industry, and higher demand for the reduced cost in the packaging in various industries are supporting the growth of the market. The expansion of the transportation & logistics industry and packaging sector has played a pivotal role in increasing the demand for this type of packaging. The underlying reason being, in these industries, the effective disperse of the packaged goods, without it being damaged is essential. The market is also benefited by the expansion of the e-commerce sector across different parts of the globe. For the operation of this sector, protection of the packaged good from being tampered or damaged is crucial, which increases the relevance of this packaging in the industry.
In addition to that, the availability of this type of packaging in different materials for varying handling and transportation purposes acts as a major attraction for end-user industries. Usually, this packaging is foldable in nature that helps in minimizing return shipments costs. The reusable packaging also has the scope of customizing inner packaging for reaffirming the protection of the packaged goods.
The COVID-19 impact:
The COVID-19 pandemic would undoubtedly put the sector's growth at any point in jeopardy. Significant players in the industry remain unsure about the future of the industry, and they tend to adapt their strategies to support themselves in this battle. The pandemic had a significant impact on automotive, aviation, tourism and most multinational companies had to avoid factories and other sectors. There is a lack of staff in certain parts of the world due to regular lockdowns. COVID-19 affected international economies, exports, and imports, leading to a substantial drop in production. The growing businesses on the planet are seeking to clean out their holdings and keep the emphasis on their cash reserves. The actual net income of the people will certainly be reduced because suppliers would provide new goods at much cheaper rates that meet consumer desires.
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Further key findings from the report suggest
- In view of growing product penetration in logistics & transportation especially for the e-commerce business, the Reusable Packaging market is expected to expand considerably over the forecast period.
- In context to End-user, the Food & Beverages segment occupies the largest market share of 22.7% in 2019 with the fastest growth rate of 6.7% during the forecast period. The food & beverage industry is seen to use this packaging extensively due to its utility in the transportation of different food-grade packaging to its suppliers.
- The market consisting of industrial products was mostly filled with a huge customer base in the Asia Pacific, while food & beverage & automotive produced considerable revenues in the North American market.
- In spite of various advantages associated with this packaging, which are promoting the market expansion, factors like diverse environmental regulations in different regions and small manufacturer’s concern of the Cost-To-Benefit Ratio may act as a concern for the market growth.
- In terms of value, Asia-Pacific is the rising market. It accounts for the greater part of global consumption.
- DS Smith Plastic had launched a new feature in its existing product line in October 2018, Advanced C. It was an addition to its AkyPak Returnable Containers product line. The special trait of this container is that it does not need any extra layer pads at the container's bottom, and it is easy to clean.
- Key players in the market include Menasha Corporation, Brambles, Schoeller Allibert, Myers Industries, DS Smith, Rehrig Pacific Company, Nefab Group, IPL Plastics, Vetropack Holding, and Schütz GmbH & Co. KGaA, among others.
For the purpose of this report, Reports and Data have segmented into the global Reusable Packaging Market on the basis of Raw Materials, Type, End-User, and region:
Raw Materials Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Intermediate Bulk Containers (IBC)
- Drums & Barrels
End-User Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Food & Beverages
- Logistics & Transportation
- Consumer Durables
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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